Predator Oil & Gas Holdings plc has agreed a further 16.2% interest in the Cory Moruga E block, subject to Trinidad regulatory approval.
WORKOVERS
The company’s subsidiary T-Rex Resources Trinidad Ltd will shortly begin site clearance for the first well workover with quote for the work currently under review before contracts are awarded.
Jacobin-1 well will first be re-entered with selected zones for perforation being within a gross interval of 2,500ft.
“A number of these zones are potentially at virgin reservoir pressure, which if confirmed may support higher than anticipated initial flow rates,” said Predator.
The next well will be Snowcap-1, with a “strong expectation” of restoring production to former levels following remedial downhole work.
In Ireland, the company has in principal agreed farm-in terms on successor authorisation to licensing option 16/26 ‘Corrib South’.
Predator said it had the technical criteria for the option and was confident of showing it had the finances for the work programme.