Predator Oil & Gas Holdings plc has submitted the rigless testing work programme for the MOU-1 well at Guercif onshore Morocco.
LOGISTICS
The well will be tested by France-based Energy Consulting Services (ECS), licensed to use and operate the Sandjet perforating technology.
Predator has chosen 18 individual horizons within intervals for testing and may add four additional data points to provide potentially useful information for MOU-3 rigless testing.
ECS will use an alternative to a coiled tubing unit, originally sourced from Tunisia, to run the Sandjet perforating tool as early as possible in September.
Competition for vessel cargo space from Tunisia has created uncertainty over when field operations will begin, prompting ECS to prepare an adjusted delivery schedule for the Sandjet equipment.
JURASSIC TARGET
Predator has also started preparations on one of its key objectives of the updip appraisal of the Jurassic target encountered in MOU-4.
Work completed to date includes selection of preliminary drilling locations to include in a new environmental impact assessment (EIA) and the start of well design and sourcing of long lead well inventory.
A field trip planned for Autumn will evaluate the reservoir potential of Jurassic surface exposures to the south of the Guercif licence.
Studies, including evidence for migrated gas, for the Jurassic section penetrated in the MOU-4 well expect to begin during September.
The company is also assessing two other near-term drilling opportunities, one of which is covered by an existing EIA and the other will be added to the new EIA.
Executive chairman Paul Griffiths added that the company’s strategy was to develop a revenue-generating business opportunity capable of monetisation under the right market conditions.
“Current market dynamics support drilling activity and very near-term value creation.
“Subject to rigless testing results, an initial compressed natural gas development can potentially be funded by a debt instrument linked to production thereby freeing up existing cash resources for more high impact drilling.”