Sound Energy (LON:SOU) said the mobilisation and rig-up operations are expected to be completed at the Badile exploration well by end-February 2017, enabling drilling to commence during March.
The Badile exploration well is planned to be drilled to a total depth of 4,600m to test the hydrocarbon potential of the Lower Jurassic Conchodon Dolomite with an independently assessed 100% unrisked best case estimate of 178 Bscfe, an upside high case in excess of 670 Bscfe and low case of 46 Bscfe.
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Deutsche Bank today reaffirms its hold investment rating on Tullow Oil PLC (LON:TLW) and raised its price target to 340p (from 300p).
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The sector's biggest risers were Empyrean Energy (LON:EME) and Europa Oil & Gas (LON:EOG) - up by 15% and more than 13.3% respectively in late trading. The biggest fallers were Xtract Resources (LON:XTR) and Bahamas Petroleum (LON:BPC) - down by 12.5% and over 5.4% respectively.
(LON:AUR) Aurum Mining PLC share price was +0.33p at 7p
(LON:BOR) Borders Southern Petroleum PLC share price was +0.02p at 3.05p
(LON:CHAR) Chariot Oil Gas Ltd share price was +0.31p at 7.99p
(LON:EME) Empyrean Energy PLC share price was +0.38p at 2.88p
(LON:ENQ) EnQuest Plc share price was +4.88p at 50.13p
(LON:EOG) Europa Oil Gas Holdings PLC share price was +0.75p at 6.38p
(LON:GKP) Gulf Keystone Petroleum share price was +2p at 136.75p
(LON:GPX) Gulfsands Petroleum PLC share price was +0.5p at 9.38p
(LON:INDI) Indus Gas Ltd share price was +12.63p at 395.13p
(LON:PET) Petrel Resources PLC share price was +0.63p at 6.13p
(LON:RKH) Rockhopper Exploration PLC share price was 0p at 22.75p
(LON:RPT) Regal Petroleum PLC share price was +0.3p at 3.5p
(LON:SOU) Sound Energy PLC ORD 1p share price was +1.13p at 76.88p
(LON:TLW) Tullow Oil PLC share price was +2.05p at 328.55p
(LON:XTR) Xtract Resources Plc share price was -0p at 0.02p