By Julia CabreraRabat – After entering an agreement with Oil Gas Investment Fund (OGIF), Sound Energy PLC has already built two wells for their projected gas reservoir in the Tendrara region, and the third, TE-8, has reached its casing stage.The TE-8, created to test the lateral extent of gas in the TAGI (Trias Argilo-Gréseux Inférieur) reservoir, has reached 2,977 meters in depth and is now just two meters away from the main reservoir of the TAGI formation. In the case that gas in found in the main wells, a new track will be built 900 meters to the north west for the course of 30 days to assure deeper gas contact, according to investment website Proactive Investors.“Whatever comes in the next two months, the firm has already enjoyed considerable success at Tendrara,” said Proactive Investor. The Tendrara license agreement, valued at EUR 254.3 million, has proven to be successful thus far.Results from the previous wells, TE-6 and TE-7, support the company’s claims of success, as no barriers or water formations were found during testing. Sound Energy told Proactive Investors that the wells showed “significant connected volumes of Gas.” They stated that they will further monitor the gas pressure traveling across the older wells in order to verify the reservoir’s overall connectivity.According to capitals analyst Lionel Therond, the gas reservoir is one of many “Value-accretive” catalysts expected in 2017.“We believe the stock provides investors the opportunity to gain exposure to one of the few growth stories in the sector, with the potential to benefit from substantial appreciation as assets get de-risked and material resources are added,” he said in a written statement.
by The Canadian Press Posted Mar 11, 2013 5:34 pm MDT TORONTO – Some of the most active companies traded Monday on the Toronto Stock Exchange and the TSX Venture Exchange:Toronto Stock Exchange (12,858.49 up 22.87 points):BlackBerry (TSX:BB). Wireless technology. Up $1.86, or 13.85 per cent, at $15.29 on 11.38 million shares. The information technology sector had the most gain among the subgroups, rising 3.66 per cent to 30.30 points. AT&T Inc. announced that presales of the BlackBerry Z10 touchscreen smartphone will begin Tuesday, with an official launch on March 22. T-Mobile will carry the phone for its business customers as early as the end of this week.B2Gold Corp. (TSX:BTO). Miner. Up six cents, or 2.08 per cent, at $2.95 on 4.97 million shares.Nevsun Resources Ltd. (TSX:NSU). Miner. Down 45 cents, or 11.14 per cent, at $3.59 on 3.76 million shares.Carlisle Goldfields Ltd. (TSX:CGJ). Miner. Down a penny, or 9.09 per cent, at 10 cents on 2.93 million shares.TORC Oil and Gas Ltd. (TSX:TOG). Oil and gas. Down three cents, or 1.69 per cent, at $1.74 on 2.75 million shares.Bombardier Inc. (TSX:BBD.B). Transportation equipment. Down five cents, or 1.20 per cent, at $4.10 on 2.50 million shares.TSX Venture Exchange (1,116.27 down 1.58 points):Med BioGene Inc. (TSXV:MBI). Life sciences. Up four cents, or 61.54 per cent, at 10.5 cents on 6.63 million shares.Blackstone Ventures Inc. (TSXV:BLV). Mine explorer. Unchanged at half a cent on 3.62 million shares.Companies reporting major news:Clearwater Seafoods Inc. (TSX:CLR). Frozen seafood packager. Up 12 cents, or 2.41 per cent, at $5.09 on 227,765 shares. The Halifax-based company posted fourth-quarter net income of $10.5 million or 15 cents per share versus $16.4 million or 28 cents per share in the same period last year. Revenue improved seven per cent to $92.96 million, boosting full-year sales to $350.4 million, its highest recorded revenue in company history.Aurizon Mines Ltd. (TSX:ARZ). Miner. Down four cents, or 0.88 per cent, at $4.51 on 538,676 shares. The board of Aurizon Mines has adopted a new shareholder rights plan, to prevent Alamos Gold Inc. (TSX:AGI) from using its voting power to defeat a better takeover offer from its rival Hecla Mining Co. Alamos already owns 16 per cent of Aurizon and has offered to buy up the rest of its stock. Alamos’ stock rose two cents, or 0.14 per cent, at $14.56 on 171,526 shares. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Most actively traded companies on the TSX, TSX Venture Exchange markets read more