TE-8 Rig Mobilisation

RNS


RNS Number : 1684W

Sound Energy PLC

07 February 2017




7 February 2017



Sound Energy plc

("Sound Energy" or the "Company")



TE-8 Rig Mobilisation



Sound Energy, the African and European focused upstream gas company, is pleased to confirm that ground works at the Tendrara TE-8 well site, onshore Morocco, are now complete and that the National 110 UE (1500 HP) traditional rig, owned by Saipem SpA and used by the Company in the drilling of Sound Energy's TE-7 well, has been mobilised and will shortly be arriving on site.



The rig-up operations are expected to be completed by mid February 2017, enabling the drilling of TE-8 to commence during February.

81.875p +1.375p

another small rise when the peers are down

Nice gain today.

Indeed

Who Should Attend?Date:

Thursday 23rd March 2017

Venue:

Novotel Tower Bridge, London EC3N, 10 Pepys Street, London, EC3N 2NR

Event Timings:Sponsored by:

Bought some @ 77.375p

Has reached a fibonacci 61.8% retracement with today's early drop to 75.75p ( oil price fall did not help), a good chance of bouncing
from this point. Currently drilling at Tendrara licence (onshore Morocco), where is now reaching the final target depth.

chart made last week

81.375p -1.375p

recovering from this morning lows

order book much stronger now
spread 81 v 81.50p

DEPTH of 50 v 40
but there are about 15 trades at offer from 90 to 120p I would not count

so strong now compare to this morning 29 v 47

A nice buy at 77.375 mentor!

Though the Mms tried to keep the share price lower at the end of the day the final UT came much better than the 83p offer YES it was 83.75p

16:35:04
83.75p
44,043 UT

Yes nice trade mentor. I still hold a proportion of my profits so am not overly worried by daily fluctuations.

A post from "Deepi" about the GM yesterday...........

Hi all,
I attended the Echo GM yesterday and had the opportunity to speak with James along with four other long term investors in Sound. Key points here are:

1. TE8 core samples needed to be sent for analysis in the UK. The samples are now back in the office in Morocco. They are currently processing the data and evaluating the next strategy.
2. The TAGI was a poor show, as the rock samples were to tight for any gas/water shows and bore hole was also poor. This however is not a show stopper.
3. We will know more on the TAGI from the results.
4. The results together with geological studies will be the deciding factor for the next drill either at TE1 or TE2 or somewhere else. James does not want to waste money on random drills without a very detailed study of the results. The results will allow them to understand the gas model and move on.
5. TE8 proved very successful in the Paleozoic zone. James was extremely happy with this and made some very bold statements in the RNS.

"Paleozoic Play Opener"

"TE-8 is a highly significant well for the Company as we seek to derisk our transformational Eastern Morocco position.

Sound Energy's first two wells at Tendrara unlocked the TAGI play. TE-8 has now established that the primary hydrocarbon system proven in Algeria extends into the more favorable Moroccan licence and fiscal regime.

I believe therefore that TE-8 will prove to be the Paleozoic play-opener in Morocco.

I am also pleased to confirm TAGI sands some 12 Km away from our previous discovery, which, although lower quality at this specific location, is expected to materially uplift our discovered volumes. We will provide an update to shareholders once our geological models have been updated and the sidewall core samples analysed."

6. He did explain the RNS to its end and said the information was drafted several times and proof read by all management to give a clear message, one which lead to a uncertainty for many people; however James could not have made it any clearer as the information was limited until after the results were analysed.
7. While all this is being analysed he decided to move the rig to Sidi and complete two wells.
8. This operation will take a month or so before they move the rig back to Tendrara and continue the operations.
9. The 2D Seimic is signed off and the tracks is being bought to site and will begin in a weeks time.
10. The 2D Seimic will take around six months (for all the assets in Morocco) and will include aerial and ground shooting.

James states the SP short term will remain just that very short term!!! and the vision is the longer term end game. Alot of institutions are interested in the US and Canada and today's price is one where the big guys could come in on the open market with material impact to the SP.

Lots to take in while we were indulging in wines and beers and a lovely lunch along the River Thames.
I hope this helps everyone investing in Sou

Still holding and will continue to do so.

If your interested in the possibilities then have a look at this. Sound poor and goes on a long time with a lot of tech stuff on drilling.

https://www.youtube.com/watch?v=wt_v-iVRlXc

M

Something does not smell right. So taken my money off the table for now.

Good timing Martini!😊

Thanks K.

Yes I must treat my nose to a slap up diner.

Regards Smug of Oxon.

Mind you they have other holes in the ground and could still come good but for now I will let the dust settle on this duster.

Bought some @ 55.63p

Good news today, Marked up at the start and then consolidated at yesterday prices

Well I read the RNS and didn't go wow so did not buy back in again Good luck with the trade.

The Oil Man: Sound Energy, Echo Energy, Amerisur
By Malcolm Graham-Wood | Wed, 5th July 2017 - 10:03

Sound Energy

It's never a dull moment at Sound Energy (SOU) as today they report excellent news from Sidi Moktar, where the Koba-1 well has come in as a 'producible gas accumulation' that can move rapidly to production.

The local market is very strong with additional demand from a large phosphate plant who crave gas to significantly add value to their product, which otherwise would be exported untreated.

The company also believes that there is potential for the pre-salt, so will reprocess existing 2D seismic and acquire new to complete the picture. With poor quality cement bonding at Koba-1 it has been decided that there is little point in drilling Kmar-1, so the rig will now be demobilised and returns to Tendrara.

This is good news for Sound and proves that it is now a meaningful player in Eastern Morocco with a growing asset base.

46.25p +1.25p

Is Sound Energy share price now near ‘maximum opportunity’?
Pro active investors - 12 Jul 2017 - 15:23

The exploration stock is a favourite for private investors, but, it has been on the back foot, down about 40% in the past two weeks.
Tendrara, onshore Morocco well
CEO James Parsons has been among Sound Energy directors increasing their shareholdings

If you’re a shareholder in Sound Energy PLC (LON:SOU), down about 40% in the month to date, and if you’d say your mood is somewhere between despondent and depressed – then, according to chief executive James Parsons, you might find ‘the point of maximum financial opportunity’.

Sound Energy has been a standout favourite among private investors over the past eighteen months or so, with successful wells at the Tendrara project in Morocco driving significant ‘multi-bag’ gains on the AIM market.

But, in recent weeks the explorer has been firmly on the back foot following a disappointing exploration well in Italy and a less than perfect result at the Sidi Moktar project in Morocco.

Directors in Sound Energy, including Parsons, have subsequently dug into their own pockets, picking up shares in the market and increasing their holdings.

onshore drilling operation Sound Energy's sharp drop is "probably overdone" says oil stocks expert

And, on Wednesday Parsons shared (without giving any specific context) a somewhat interesting diagram with his fledgling Twitter following – which presumably comprises mainly Sound and Echo Energy investors.



It is a fairly simple representation of a cycle many small cap punters and arm-chair behavioural phycologists will likely be familiar with.

Nonetheless, it remains to be seen whether or not Sound Energy’s recently downtrodden share price is nearing a turning point.

The Sound Energy chief executive created his Twitter account (@Real_JParsons ) last month.