Business
Drilling and Operations Update
Drilling and Operations Update.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n 19 July 2022\n \n \n \n \n \n Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas\n \n \n \n Predator Oil & Gas Holdings Plc\n \n \n \n \n (\"Predator\" or the \"Company\" and together with its subsidiaries \"the Group\")\n \n \n \n \n \n \n \n \n \n Drilling and operations update\n \n \n \n \n Highlights \n \n \n \n ·\n \n MOU-1 step-out well MOU-2 to target 295 BCF net Contingent Resources\n \n \n \n ·\n \n Unrisked NPV US$592 million\n \n \n \n ·\n \n MOU-2 well pad construction will commence this month\n \n \n \n ·\n \n September - October drilling schedule\n \n \n \n ·\n \n Targeting 110 metre potential gross reservoir interval in Moulouya (\"MOU-4\") Fan\n \n \n \n ·\n \n Planning for extended production test for early CNG sales and gas revenues\n \n \n \n ·\n \n Memorandum of Understanding for Gas Sales Agreement and leasing of CNG equipment being discussed\n \n \n \n Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Morocco, Ireland and Trinidad is\n pleased to announce a drilling and operations update.\n \n \n \n \n \n \n \n \n \n \n \n Guercif Drilling Programme\n \n \n \n \n \n \n \n \n \n Current status\n \n \n \n \n \n \n The Company is in the process of completing local permitting for the second of two alternative locations for the step-out well to the MOU-1 well which was completed for rigless testing in 2021. The final location will be agreed following the integration of reprocessed 2D seismic data that have recently been received. Civil engineering works will commence this month to construct the well pad for the step-out well now designated MOU-2.\n \n \n \n \n \n Long lead equipment including well heads, casing, cement, chemicals, drill bits mud motors and downhole tools as well as mud and cementing services have been sourced out of the UK, France, USA, Canada, Egypt and the Netherlands.\n \n \n \n \n \n The well is anticipated to be drilled and completed for rigless testing between September and October this year. The drilling window will be updated as well inventory arrives in Morocco from overseas. Star Valley Rig 101 is prepared to commence drilling operations on instructions from the Company.\n \n ...