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    Sound Flags Eastern Morocco Drilling

Summary

UK-listed gas explorer Sound Energy said October 4 it will drill three ‘high impact’ exploration wells in eastern Morocco.

by: Mark Smedley

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Natural Gas & LNG News, Africa, Corporate, Exploration & Production, News By Country, Morocco, United Kingdom

Sound Flags Eastern Morocco Drilling

UK-listed gas explorer Sound Energy said October 4 it will drill three ‘high impact’ exploration wells in eastern Morocco.

It said the wells, each to cost about $10mn, will span multiple targets in both the Triassic and Paleozoic reservoirs but gave no details on their scheduling.

Sound’s CEO James Parsons said the new drilling campaign “has the potential … to establish eastern Morocco as a prolific but low-cost gas province, on the doorstep of large and growing energy markets." Sound and partners hold resources in the area internally estimated by Sound to total 1.03 trillion ft3 gas originally in place; a reserves certification is currently underway on three-fifths of that total.

Sound Energy three weeks ago reported a $19.4mn net loss in 1H2017, but said some of its forthcoming exploration drilling costs will be carried.

 

Mark Smedley