Sound Energy Completes Tendrara Lakbir License Farm-in
Mediterranean focused upstream oil and gas company, Sound Energy plc, announced Wednesday that it has completed its 55 percent farm-in to the Tendrara Lakbir License, onshore Morocco, after receiving ministerial approval for the deal.
Sound Energy has also agreed commercial terms with Entrepose Drilling Morocco for the supply of a HH300 rig and the initiation of the procurement process for long lead items for the drilling of the first two appraisal wells on the Tendrara License. The company plans to commence ground works on the drill site for the first Tendrara well shortly after receipt of EIA approval which Sound expects to receive in January 2016.
James Parsons, Sound Energy's CEO, commented in a company statement:
"I am pleased to report the initiation of our drill program at Tendrara, with two back to back wells with an extended well test which, if successful, will prove the commerciality of the highly significant TAGI reservoir in Morocco. We believe Eastern Morocco is an exciting and developing area which is further validated by the recently acquired International Oil Company interest in the surrounding licenses."
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