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The oil and gas explorer said the CPR had confirmed preliminary results for the A1 prospect, which had registered between 278bn cubic feet and 1.25trn cubic feet of gas.
The report is the first in a series of CPRs planned across the Eastern Morocco acreage
Sound Energy PLC (LON:SOU) has received the final competent person’s report (CPR) for its A1 prospect at the Tendrara-Lakbir permit, Eastern Morocco.
The AIM-listed oil and gas explorer said the latest CPR had confirmed the preliminary CPR results for the A1 prospect released on 26 April, which had registered between 278bn cubic feet (low case) and 1.25trn cubic feet (high case) of originally in place gas resources in the A1 TAGI reservoir – with the mid-case pitched at 7624bn cubic feet and the mean resource estimated at 712bn.
READ: Sound Energy new resource assessment reaffirms potential scale of Tendrara assets
The CPR was conducted by RPS Energy Consultants Ltd (RPS) and is the first in a series of CPRs planned across the company’s Eastern Morocco acreage following the acquisition of new 2D seismic.
The first well on the prospect (TE-9), is intended to drill both the TAGI as the primary target and potentially similar scale volumes in the underlying Palaeozoic as the secondary target.
Sound added that it plans to further de-risk the prospect through geophysical and geological analysis utilising data acquired from additional seismic processing. Following sufficient de-risking through this analytical process, the company said it intends to secure partner approvals and then commence ground works.
James Parsons, Sound Energy chief executive, said: “I am delighted to report that Sound Energy is now poised to enter a period of intensive newsflow as we de-risk the development of our existing discovery and finalise preparations for the exploration drill programme.
He added: “Success at TE-9, our planned first well, could unlock significant value for Sound and our partners, reduce the risk on nearby leads, and increase further our overall confidence in the broader TAGI Structural Play trend.”
