Jasper13's first link on 31 March 8.58 am - translation 1 of 21 Apr 2025 23:44
Predator Oil & Gas seeks a partner to develop its gas project in Guercif
Article by Hicham Oukerzaz • 4 days •
Predator Oil & Gas is looking for a partner to continue the development of its Guercif gas license. After the drilling of the MOU-5 well, the British company wants to launch a 3D seismic campaign and deepen the exploration of thermogenic gas, while making progress on the commercialization of biogenic gas.
Predator Oil & Gas is looking to take the next step in the exploration of the Guercif permit and is counting on the arrival of a partner to support its development. After completing the drilling of the MOU-5 well, the British company wants to further its research into the potential of thermogenic gas while accelerating the commercialization of the more accessible biogenic gas. Paul Griffiths, CEO of Predator, detailed this strategy in an interview with Flagstaff TV.
A mixed but promising result for MOU-5
Work on the MOU-5 bore, completed on March 17, confirmed several geological concepts. The hoped-for underground structure was indeed reached, but the presence of salt, which had not been detected by 2D seismic, slightly modified the initial interpretation of the reservoirs. Despite this surprise, Paul Griffiths remains confident: "the well has confirmed and validated all our geological concepts around Jurassic prospectivity".
Based on the results obtained, Predator has selected a new drill site located 12 kilometres north of MOU-5. However, the company does not want to rush and first intends to refine its analysis through additional studies, including the reprocessing of seismic data, tests on rock samples and geological correlations with previous wells.
At the same time, Predator is preparing the launch of a larger project called the Jurassic Project. This includes a 3D seismic campaign aimed at improving the image of the subsurface and better characterizing the reservoirs. However, this initiative requires significant investments that Predator does not want to assume alone.
A farmout to attract a partner
Faced with the technical and financial challenges of the next phase of exploration, Predator Oil & Gas wants to attract an industrial partner via a farmout. This common practice in the oil industry allows a company to transfer part of its rights to a permit in exchange for a financial commitment from the new player to finance part of the work, including drilling and seismic studies.
"I wouldn't necessarily have said this a year ago, but the market has changed, the whole industry has changed. We cannot continue to carry this burden alone indefinitely, to carry out all the high-risk exploration and assessment work that is normally expected of a large company. We have done our part to reduce the risks, and the next step requires a larger partner," explained Paul Griffiths.
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