Sound Energy, in its operational update on the Tendrara and Meridja wells, onshore Morocco announced that it continues to advance with its countervailing growth strategy as well as evaluating selective opportunities to balance its current portfolio.

According to the company, the processing of logs during the drilling and wire line logs at the first Tendrara well has now been concluded. The initial petrophysical examination confirms that there are a number of gas bearing levels and an overall net pay of 28 metres present in the TAGI reservoir.

Sound Energy in anticipation of drilling of the second well at Tendrara, has requested for the first complementary period under the licence terms.  This period initiates a commitment to a second well.

The Tendrara permit is situated in the Figuig Province, North-East Morocco, 120 km from the GME pipeline, connecting Algeria and Morocco to the Spanish / Portuguese gas grids. The permit area is sub-divided into eight blocks and encompasses a combined area of 14,500 km².

The company, subject to regulatory approvals, will assume Operatorship of the Licence and take a 55% working interest while OGIF will retain 20% and ONYHM the remaining 25%. The 55% working interest will be secured in two parts. First part which is a 37.5% interest will be granted on completion of the transaction while the second part (17.5%) will be secured once Sound Energy commits to the second exploration phase which would include a second well.  Sound is to pay 100% of the cost of three wells, whereby only the first well would be a firm commitment.

Meanwhile on the Meridja well, the European / Mediterranean focused upstream gas company revealed that it has applied its option to secure a 55% participating interest in the Meridja exploration permit, onshore Morocco, from Oil & Gas Investment Fund S.A.S. This is subjected to regulatory and other approvals.

The Meridja licence area is close to the Tendrara licence and is a highly prospective 9,000 Km² area with the same fundamental geology as Tendrara, Energy-pedia reports.

Anita Fatunji