Sound Energy continues seeking natural gas potential with the company’s overall assessment of the Eastern Morocco area, despite TE-10 well’s disappointed flow rate results, Pipeline Oil and Gas Magazine reported.
“Whilst clearly disappointed with the outcome of the recent well test at TE-10, the team and I are encouraged to have delivered gas to surface from another TAGI discovery and remain confident in the potential of our Eastern Morocco basin,” said James Parsons, Sound Energy CEO said.
The company’s portfolio includes Morocco’s Tendrara production concession and approximately 24,000 km2 of exploration acreage.
In the surrounding acreage, the company is following a high risk and a high reward exploration strategy which targets high potential prospects in both the TAGI and Palaeozoic plays, which may include an aggregate exploration potential of up to 20 trillion cubic feet of unrisked gross gas originally in place.
Moreover, Sound Energy plans to take the final investment decision (FID) on the TE-5 Horst discovery by the end of 2019 as well as pausing further operations, including in TE-11 well, until the marketing process results.