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MOROCCO - Operations Update
MOROCCO - Operations Update.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 4208R\n Predator Oil & Gas Holdings PLC\n 30 June 2020\n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n 30 June 2020\n \n \n \n \n \n Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas\n \n \n Predator Oil & Gas Holdings Plc\n \n \n (\"Predator\" or the \"Company\" and together with its subsidiaries \"the Group\")\n \n \n \n \n \n MOROCCO - Operations Update\n \n \n \n \n \n Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco, and Ireland, notes that the Moroccan authorities have stated that the state of emergency in response to the COVID-19 pandemic is being extended to July 10th during which time there would be an easing of some of the current restrictive public health measures.\n \n \n Company focus\n \n \n Executing safely the Company's proposed drilling programme \n for the Guercif Permits I, II, III and IV (\"Guercif\") onshore Morocco remains the most important single objective for the Board and management of the Company. Predator (75%) operates Guercif in joint venture with the Office National des Hydrocarbures et des Mines (\"ONHYM\") acting on behalf of the State (25%).\n \n \n Rig status\n \n \n During the period of lockdown in Morocco, the Star Valley Rig 101 has remained securely stacked in the country ready for mobilisation when circumstances permit.\n \n \n Petrophysical studies and evidence for gas\n \n \n NuTech has completed for the Company a modern petrophysical analysis of the GRF-1 well. The gross interval between 1,386 and 1,413 metres TVD KB (27 metres) has interpreted gas saturations in the range 37 to 51%, whilst a gross interval between 1,635 and 1,925 metres TVD KB (290 metres) has gas saturations ranging from 30 to 72%. The new petrophysical analysis supports the presence of a gas charge and is consistent with thermogenic gas shows (mainly methane, but with traces of ethane and propane) recorded on the GRF-1 mud logs and the small volume of gas recovered on a Formation Interval Test at the time of drilling in 1972. \n \n \n Additional target in first exploration well\n \n \n The NuTech analysis has identified the upper part of the interval between 1,386 and 1,413 metres TVD KB in GRF-1 as a new additional target for the first exploration well. As a r...