Press release.1 Apr 2025 19:53
For those who didn't notice the article Jasper shared amongst all the commotion:
Note it's a translation.
medias24.com
Natural Gas. Predator Oil & Gas Begins a New Phase to Develop its Guercif License
Amine Bouwafoud
6–7 minutes
In an interview with the Flagstaff platform, Paul Griffiths, Executive Director of Predator Oil & Gas, provided for the first time an explanation of the latest Mou-5 drilling campaign in the Guercif license, which was completed on March 17, as well as the future development of its assets in Morocco.
Covering an area of 7,269 km², the onshore Guercif license has revealed:
Shallow biogenic gas (certified), in quantities suitable for commercialization as CNG (compressed natural gas), with contingent resources (very modest) estimated at approximately 594 million cubic meters; Significant thermogenic gas potential (deeper), estimated at between 4.8 and 18 billion cubic meters (probable and uncertified), which requires liquefaction and investment in a dedicated unit, making it more suitable for electricity production.
Perimeter of the Guercif license developed by Predator Oil & Gas.
Mou-5 Well: Exploration Continues Despite Mixed Results
According to Paul Griffiths, the Mou-5 well confirmed all the geological concepts of this petroleum system and was able to penetrate all the expected layers, with the presence of salt (a structure capable of trapping hydrocarbons) that was not visible on the 2D seismic survey and which slightly modified the structural position.
Based on these results, Predator has already selected a new drilling site 12 km to the north, among its three priority targets. Further studies (source rock analysis, reinterpretation of seismic and well-logging data) will be required to finalize the selection.
Griffiths believes that Predator has sufficiently de-risked the asset to attract the interest of an oil major. Consistent with previous announcements, the company is preparing a farm-out to conduct a 3D seismic campaign and more timely drilling of the Jurassic structure, whose geological potential (preliminary data did not indicate the presence of gas) has been confirmed according to the Mou-5 data analyzed by the company.
"I wouldn't necessarily have said this a year ago, but the market has changed, the entire industry has changed. We can't continue to carry this burden alone indefinitely, conducting all the high-risk exploration and evaluation work normally expected of a large company. We've done our part to de-risk, and the next step requires a larger partner," Paul Griffiths said.
The search for a partner is expected to begin in July 2025, following the completion of the test program on the biogenic gas reservoirs of the Mou-3 prospect. Biogenic gas, a potential source of monetization for Predator.