Sound Energy (SOU)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.93p
   
  • Change Today:
      0.001p
  • 52 Week High: 2.05
  • 52 Week Low: 0.64
  • Currency: UK Pounds
  • Shares Issued: 1,963.12m
  • Volume: 945,305
  • Market Cap: £18.34m
  • RiskGrade: 409

Sound Energy upbeat on latest reservoir pressure data

By Josh White

Date: Monday 25 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Morocco-focussed upstream gas company Sound Energy updated the market on the TE-7 well reservoir pressure on Monday, following the latest retrieval of the pressure gauge data.
The AIM-traded firm said the measured pressure data provided further information on the extent and quality of the reservoir at TE-7, and provided additional confidence for the development plan of its existing TE-5 Horst discovery, which remained subject to a final investment decision.

It said the latest pressure measurements revealed a current reservoir pressure of 413.4 bara at the TE-7 well location, with the pressure continuing to increase towards the original reservoir pressure of 422.6 bara, which was confirmed by the company on 19 July 2017.

The period of pressure monitoring had been extended to observe that continued pressure increase, and would continue.

Sound Energy said the pressure build-up trend was important information, as it allowed the company to estimate the connected volume of in place gas accessible by the TE-7 well.

Analysis of the pressures measured in the well recorded over time had led to an increase in the firm's estimate of connected gas in place around TE-7 to a volume exceeding 115 Bscf.

Historical analysis of the pressure trend, announced on 19 July 2017, had previously shown that the volume of connected gas in place around TE-7 exceeded 40 Bscf.

"The significant increase in the company's estimates of minimum gas in place connected to the TE-7 well provides support for the company's field development plan consisting of a number of horizontal stimulated production wells spaced to optimise recovery," the board of Sound Energy said in its statement.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sound Energy Market Data

Currency UK Pounds
Share Price 0.93p
Change Today 0.001p
% Change -0.11 %
52 Week High 2.05
52 Week Low 0.64
Volume 945,305
Shares Issued 1,963.12m
Market Cap £18.34m
RiskGrade 409

Sound Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.79% above the market average76.79% above the market average76.79% above the market average76.79% above the market average76.79% above the market average
13.16% above the sector average13.16% above the sector average13.16% above the sector average13.16% above the sector average13.16% above the sector average
Price Trend
46.86% below the market average46.86% below the market average46.86% below the market average46.86% below the market average46.86% below the market average
Sector averageSector averageSector averageSector averageSector average
Income Not Available
Growth
69.08% above the market average69.08% above the market average69.08% above the market average69.08% above the market average69.08% above the market average
1.89% below the sector average1.89% below the sector average1.89% below the sector average1.89% below the sector average1.89% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
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Sound Energy Dividends

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Trades for 28-Mar-2024

Time Volume / Share Price
14:45 51,451 @ 0.91p
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14:28 500 @ 0.90p
14:23 150,000 @ 0.91p

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