Oil price, Sound Energy, Echo Energy, President Energy, Amerisur Resources, SDX Energy, Empyrean Energy,And finally…

With the US market shut for Independence Day the oil market was extremely quiet, nothing to report.

It’s never a dull moment at 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.

Starting as they mean to go on, Echo are reporting quarterly on operations although clearly there is not much to say at this stage. Technical work has commenced at Huayco after which the decision to go ahead with the operation. The company report that they are looking for more opportunities in Bolivia and a number of projects are being assessed…


Click Here For Remainder of Article 

Posted in: Opinion

About the Author:

Post a Comment