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Hyperdynamics Corporation
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Sound Energy - - - Morocco Acreage/Testing Program Another stock in my portfolio that may be worth keeping an eye on in the near to intermediate term is Sound Energy, which has large exploration interests in Morocco. Neighboring Algeria is one of the world's prolific gas producing regions, and some of those formations may also be present in Morocco. They already have a gas discovery from a few years ago, which is working it's way through the process of development and commercialization (GSA/FEED, etc.) Also, as part of a further multi-well program to 'prove-up' the acreage, a few months back they made another gas discovery, which has the potential to be more significant, known as TE-10. They're currently bringing in equipment from out of country to perform a comprehensive flow-testing and stimulation program on the well, which should be happening over the coming days and weeks. If testing is successful, it could not only help to prove up this particular prospect (potentially in the TCF-plus range), but it could also help to further validate the company's evolving geological models in terms of predicting where the more productive reservoirs may be located, based upon certain factors such as the thickness of an overlying salt layer. So this can also greatly increase the value of the overall acreage, potentially facilitating a sale of some or all of their holdings, which they've indicated is a likely outcome following the current exploration campaign. And again, they already have a discovery under their belt to help underpin value. just my opinion |
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