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Tuesday, June 21, 2016
Sound Energy provided an update on its Tendrara well and the Meridja permit, onshore Morocco. On the Tendrara well, Sound said that the processing of the logs while drilling and wire line logs at the have now been completed. The preliminary petrophysical analysis confirms the presence of a number of gas bearing levels and a total net pay of 28 meters in the TAGI reservoir. This is ahead of initial expectations.
In anticipation of drilling of the second well at Tendrara, Sound has now applied for the first complementary period under the license terms. This period triggers a commitment to a second well.
As for the Meridja, the company has now exercised its option to acquire, subject to regulatory and other approvals, a 55% participating interest in the exploration permit from Oil & Gas Investment Fund. The consideration payable and the other terms of the option were announced by the company in February.
The Meridja license area is adjacent to its Tendrara license and contains same fundamental geology as Tendrara.
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