Naturalgasworld.com
North Africa-focused UK-based explorer Sound Energy said November 24 its second well at Tendrara in northeast Morocco (TE-7) achieved a constrained gas flow of 32mn ft³/d “significantly above pre-drill expectations” and that its potential is predicted to be well above 40mn ft³/d. It was spudded last month.
On November 25, the company announced that its rights issue has raised a total of £26.9mn ($33.5mn). The previous day institutionally underwritten offers had raised £24.1mn of that; excess applications later increased that interim total to £26.9mn. Dealings in new shares are expected to begin November 30.
Sound CEO James Parsons (Photo credit: Sound Energy)
