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Sunday, April 29, 2018
Sound Energy received the preliminary results of RPS Energy Consultants’ Competent Person’s Report (CPR) for its A1 prospect on Morocco’s Tendrara-Lakbir permit. The A1 CPR is the first in a series of CPRs planned across Sound’s acreage following th acquisition of new 2D seismic.
The preliminary volume results largely confirm the company’s previously communicated GOIP estimates for the TAGI reservoir in the A1 prospect in February.
Sound intends that the TE9, the first well, will target both the TAGI and the deeper Paleozoic. The scope of the CPR was designed to only cover the Triassic TAGI reservoir and any future volume estimates for the deeper Paleozoic prospectivity, will need to be added to these volumes.
The company believes that further work may de-risk the first well and the chance of success may increase on positive results from the seismic processing and geological studies.
The CPR, which is expected to be issued in final form during May 2018, will include a full technical review of the A1 prospect. The A1 prospect evaluation uses new 2D seismic data acquired by Schlumberger Western Geco, as part of the previously communicated Phase 1 seismic acquisition program. The data were recorded in late 2017 and early 2018 and were fast-track processed by the specialist geophysical contractor, Shearwater Geoservices Ltd. The final CPR in relation to the A1 prospect will be compliant with the latest SPE Petroleum Resources Management System (PRMS) approved definitions of Reserves and Resources.
Following finalization of the prospect volumes and the chance of success, the company intends to secure partner approvals and commence ground works.
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