Sound Energy does not rule out selling its portfolio in the Tendrara area after another unsuccessful exploration. The British company said, in a new update on its website, that the time has come to explore the monetization options available to the company for its portfolio held in eastern Morocco.
The company plans to discontinue its operations, including exploration of well TE-11, the third well in the current exploration program, “until the results of the commercialization process are known.”
Sound Energy was very optimistic about the potential of the Tendrara wells. After further exploration, the quantities of gas discovered did not live up to expectations. The last well drilled, the TE-10, will be abandoned.