PRD Comment13 Jul 2023 15:16
Predator Oil & Gas
Predator has announced an update for the MOU-4 well.
NuTech wireline log analysis and reservoir characterisation of the MOU-4 well has highlighted the following intervals to be likely gas sands that will form the primary objectives in a rigless testing programme.
519 to 713 metres TVD MD, including the M1 sands.
50 metres of likely gas sands.
778 to 879 metres TVD MD, including the Moulouya fan and Lower Fan.
12 metres of likely gas sands.
1139 to 1143 metres TVD MD, including the top of the Jurassic carbonates.
2 metres of likely gas reservoir with average porosity 19.9% (maximum 20.6%) and average gas saturation 56% (maximum 73%).
As previously announced the culmination of the Jurassic carbonate target lies 2.6 kilometres to the southeast of the MOU-4 well location and significantly higher than at the MOU-4 well location. Therefore a positive rigless testing result in this zone would help to de-risk the larger Jurassic structural closure in respect of reservoir development and migration of gas. These were two of the most significant pre-drill exploration risks.
Paul Griffiths, Executive Chairman of Predator Oil & Gas Holdings Plc commented:
“The MOU-4 NuTech petrophysical analysis has has highlighted a number of intervals to be likely gas sands, including some shallow sands that were not previously considered to be potential drilling targets.
The recognition by NuTech of likely good quality thin gas reservoirs at the top of the Jurassic carbonate is particularly significant in the context of the large Jurassic structural closure that MOU-4 was purposely located at the edge of, so as to successfully penetrate the primary pre-drill target which was the Moulouya Fan.
Rigless testing of the Jurassic interval will be an important step in evaluating the significant Jurassic potential within our core area of interest.”
Probably released due to pressure on social media and with the shares falling as so called experts thought that the MOU-4 well wasn’t as good as initially thought it is good to see the company getting out chapter and verse on the result.
There are people who might expect to see flow rates etc from this data which is not only unrealistic but not physically possible at the moment. This data has already given more in terms of potential than ever thought pre-drilling and will be established with further evaluation.
This is what I wrote after the recent announcement, I haven’t changed my mind so to save my time i’m just going to repeat it.
These are very big numbers indeed and prove that those with confidence in PRD who have tripled the share price since the turn of the year may well have been vindicated. Whilst there is still plenty of evaluation to be done the rigless testing which is about to start could be highly rewarding for Predator.
Predator is in the Bucket List as it screams out the constituents of a successful exploration campaign, not to mention th
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