Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland is pleased to announce that the MOU-1 site construction and civil works have been completed.
A further update on the mobilisation of the Star Valley Rig 101 to Guercif is expected next week.
This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse
For more information, please visit the Company’s website at www.predatoroilandgas.com :
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The initial drilling programme would comprise the drilling of the Moulouya-1 Prospect, subject to all regulatory consents and approvals, to a depth of 2,000 metres.
“This is another significant step in the company’s strategy to develop shallow gas in Morocco adjacent to infrastructure as a greener contribution to reducing Morocco’s carbon footprint,” said Predator Oil & Gas chief executive officer Paul Griffiths.
“Morocco is re-entering an exciting period of sustained drilling activity for gas, with a 12-well drilling programme having commenced in the Rharb Basin to the west and other potential wells being considered to the south of us, where several companies are hoping to evaluate Triassic Tagi gas potential.
“The company’s gas prospects are located at the central core of this activity and the Guercif licence area offers us attractive running room with multiple prospects and leads to test all the gas plays currently being evaluated for drilling around us.”
The London-listed firm owns 75% of the permits and operates Guercif in joint venture with the Office National des Hydrocarbures et des Mines (ONHYM), acting on behalf of the state.
