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Sound Energy reports Badile cost reduction


Published Nov 25, 2015
Sound Oil-2

Sound Energy is pleased to announce a significant reduction in the estimated cost of the forthcoming Badile exploration well.

The Company has now completed a selective re-tendering of the Badile well programme with a view to capturing cost reductions resulting from the increased availability of rigs and other services in the current low oil price environment. This re-tendering has secured an immediate Euro 5 million reduction in the expected cost of the well, reducing the well from a total cost of Euro 30 million (including completion and testing) to Euro 25 million on a 100% basis.

The Company confirms that it still expects to receive final authorisation to drill the Badile exploration well at the end of 2015 or early in 2016 and that it continues with its efforts to identify and negotiate a farm in partner.

Tags: Sound Energy




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