RE: Malcy comment...6 Jul 2021 20:22
From the RNS today…
“ Forward plans
The occurrence of good gas shows in MOU-1 with evidence of thermogenic gas migration supports in this part of the Guercif Basin the pre-drill geological interpretation for a deep gas "kitchen" connected to shallower reservoirs by large faults.
Based on these positive results the Company will be proposing to its partner to drill the previously defined MOU-4 location later this year to the northeast of MOU-1, and to commission an Environmental Impact Assessment (EIA) over the prospective area around the MOU-4 location which will also incorporate information from the existing EIA.
Paul Griffiths, CEO of Predator Oil & Gas Holdings Plc commented:
"We are pleased to have completed the MOU-1 drilling operations which was our first operated well in the Kingdom of Morocco. We sincerely thank those contracted to the Company who have worked tirelessly to execute our drilling programme. We are also grateful for the support and practical assistance given to us by our partner ONHYM during and leading up to drilling.
Based on the positive indications of the presence of gas in MOU-1 we are now proposing to drill again later this year."