- Sound Energy [LON:SOU] said TE-7, the second well at its Tendrara licence, onshore Morocco, has now been successfully drilled to total measured depth of 3,459 metres corresponding to a vertical depth of 2,611 metres.

The Company has successfully completed a 700 metre sub horizontal drill through the TAGI reservoir.

Consistent with those seen in the drilling of TE-6, the Company has observed significant gas shows from the TAGI sandstones.

The Company currently estimates a total vertical net gas pay of approximately 28 metres (roughly the same as TE-6, on a vertical basis).

The horizontal nature of the well will have significantly increased TE-7's surface area contact with the reservoir which is anticipated to significantly increase the well flow rate.

The well will now be completed with a 4-1/2" production tubing, after which the Company will proceed with rigless operations.

An extended well test will follow the rigless operations for approximately 70 days to confirm production sustainability and to aid comprehensive field development planning.

As previously reported, the Company also intends to drill its first outpost well at Tendrara, TE-8, with the objective of both proving up significant additional volumes in the TAGI reservoir whilst also drilling, for the first time, the potentially transformational Paleozoic formation.

Whilst the precise location is still under review and subject to regulatory and partner approvals, drilling of TE-8 is expected to commence early 2017.

* * *

Global Petroleum [LON:GBP] will hold its annual general meeting at McCullough Robertson Lawyers, Level 11, 66 Eagle Street, Brisbane, Queensland, on 8 November at 11 a.m. (EST).

* * *

The sector's biggest risers were Cadogan Petroleum [LON:CAD] and Xtract Resources [LON:XTR] - up by more than 27.8% and 10% respectively in late trading. The biggest fallers were Bahamas Petroleum [LON:BPC] and Egdon Resources [LON:EDR] - down by more than 9.5% and over 9.4% respectively.

At 4:06pm:

[LON:AUR] Aurum Mining PLC share price was 0p at 2.13p

[LON:BOR] Borders Southern Petroleum PLC share price was +0.04p at 1.54p

[LON:BPC] Bahamas Petroleum Company PLC share price was -0.13p at 1.29p

[LON:CAD] Cadogan Petroleum PLC share price was +2.13p at 9.75p

[LON:CHAR] Chariot Oil Gas Ltd share price was +0.01p at 9.61p

[LON:ENQ] EnQuest Plc share price was +0.88p at 28.38p

[LON:GBP] Global Petroleum Ltd share price was 0p at 1.5p

[LON:GKP] Gulf Keystone Petroleum share price was +0.03p at 2.21p

[LON:GPX] Gulfsands Petroleum PLC share price was 0p at 3p

[LON:INDI] Indus Gas Ltd share price was -0.5p at 479.5p

[LON:PET] Petrel Resources PLC share price was 0p at 6.25p

[LON:RKH] Rockhopper Exploration PLC share price was +0.13p at 27.88p

[LON:RPT] Regal Petroleum PLC share price was 0p at 3.5p

[LON:SOU] Sound Energy PLC ORD 1p share price was -1.62p at 87.38p

[LON:XEL] Xcite Energy Ltd share price was -0.13p at 1.46p

[LON:XTR] Xtract Resources Plc share price was +0p at 0.03p

Story provided by