London-listed Predator Oil & Gas has announced that it has signed a rig agreement with Star Valley Drilling to undertake a drilling programme on the Guercif licence onshore Morocco.
The rig option agreement provides for a rig mobilisation date within a window commencing 15 March 2020 and ending 30 April 2020.
The initial drilling programme will comprise the drilling of the Moulouya-1 Prospect, subject to all regulatory consents and approvals, to a depth of 2,000 metres. The drilling rig mobilisation and drilling operations are expected to take up to 30 days.
Paul Griffiths, CEO of Predator Oil & Gas Holdings said: "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. 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."
Predator (75 per cent) operates Guercif in joint venture with the Office National des Hydrocarbures et des Mines (ONHYM) acting on behalf of the State (25 per cent).