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Guercif Permit - Competent Persons Report
Guercif Permit - Competent Persons Report.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 0018X Predator Oil & Gas Holdings PLC 25 April 2019 \n\nPredator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas\n \nPredator Oil & Gas Holdings Plc\n(\"Predator\" or the \"Company\" and together with its subsidiaries \"the Group\")\n \n Guercif Permits I, II, III and IV onshore Morocco Technical Update\n Competent Person's Report \n \n \nHIGHLIGHTS\n \n· MIOCENE TORTONIAN AND TRIASSIC TAGI RESERVOIR PROSPECTIVE RESOURCES AUDIT COMPLETE\n \nCompetent Person's Report (\"CPR\") prospective resources audit SLR Consulting (Ireland) Ltd\n \n· TOTAL NET AUDITED BEST ESTIMATE RECOVEREABLE PROSPECTIVE RESOURCES OF 474 BCF (943 BCF HIGH ESTIMATE) FOR THE \"FIRST TIER\" MIOCENE MOULOUYA PROSPECT AND THE TRIASSIC TAGI PROSPECT\n \n· ADDITIONAL PROSPECTIVE MIOCENE GAS TRAPS\n \n· 9 TRIASSIC AND JURASSIC LEADS \n \n· NO TECHNICAL, CAPACITY OR GAS MARKET REASONS TO PREVENT COMMERCIALISATION OF ANY GAS FIND\n \nPredator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company, with a portfolio of attractive upstream gas assets adjacent to European gas infrastructure entry points, is pleased to provide a prospective resources update on the Guercif Permits I, II, III and IV (\"Guercif\") onshore Morocco. Predator (75%) operates Guercif in joint venture with the Office National des Hydrocarbures et des Mines (\"ONHYM\") acting on behalf of the State (25%). \nThe Guercif area is located approximately 200 kilometres east of the producing Rharb Basin gas fields and approximately 100 kilometres northwest of the Tendrara gas project.\nFollowing an analysis of existing 2D seismic and well data in conjunction with an appraisal of the gas market and the Company's project economics, Predator retained SLR to carry out a third party prospective resources audit (CPR) of the potential in-place hydrocarbons initially in the first tier Moulouya Prospect and the Triassic Prospect, in the Miocene Tortonian and Triassic TAGI reservoirs respectively.\nSLR has reported that the Miocene Tortonian reservoir in the Moulouya Prospect has a Best Estimate gross gas in place of 646 BCF with recoverable Best Esti...