Sound Energy confirms in-house estimations through independent study

African and European focused upstream gas company Sound Energy told investors on Wednesday that preliminary results of a volume certification process at its TE-5 Horst well location on the Tendrara concession had validated its prior in-house estimations of 0.63trn cubic feet of mid-case gross gas originally in place (GOIP).

The certification, undertaken by RPS Energy, returned 0.65tcf mid-case GOIP at the TE-5 Horst location and set a recoverable, contingent resource in the vicinity of 0.377tcf.

Sound Energy referred to the certification as a "very important step towards concession application", and pointed out that it covered a mere 1% of its total Eastern Morocco project area, with new exploration work being advanced in conjunction with the Tendrara programme.

As of 1510 GMT, shares had grown 1.00% to 50.75p.