(Alliance News) - Predator Oil & Gas Holdings PLC on Thursday said that it has opened exploratory discussions with a group focussed on the downstream energy business to potentially sell its share of gas produced at Guercif's well-head.
Predator is a Jersey-based oil and gas company focussed on Morocco, Trinidad, and Ireland.
It operates the Guercif petroleum agreement, which is located onshore Morocco, and is prospective for tertiary gas less than ten kilometres from the Maghreb gas pipeline.
Predator said that in order to accelerate the timing of negotiations for the sale of its share of gas, it would be amending its rigless testing programme.
This means that the MOU-3 well will now be the first well to get tested, helping Predator to maximise gas flow rates in order to set commercial parameters for the sale of gas.
The firm said that it has been waiting for over three weeks for an in-country wireline logging unit, and that as a result, the slot for using Sandjet for a perforating depth control log has passed.
In order not to delay further, Predator has decided to test MOU-3 and MOU-1 using conventional perforating guns.
It said it was "confident" the testing programme would deliver the results necessary to progress commercial negotiations for the offtake of its share of potential future gas.
Predator Oil shares were trading 2.5% higher at 10.86 pence each in London on Thursday afternoon.
By Holly Beveridge, Alliance News reporter
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Predator Oil (PRD)