focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
'ONHYM stated that the volume of Algerian natural gas passing through the Maghreb-Europe gas pipeline increased by 19 percent in 2018 compared to 2017.
The volume amounted to 9.45 billion normal cubic meters in 2018 compared to 7.95 billion normal cubic meters the previous year.
ONHYM explained that the significant increase was due to increased demand by European customers, especially Sagane and Transgas.'
Shows there will be plenty of demand.
https://www.moroccoworldnews.com/2019/01/262735/petroleum-exploration-morocco/
IMO the news released indicates roughly 10% Net out of the Gross interval identified compared with 30% at TE6 but this is located within the stratigraphic target with an advised 14% COS. We still have 170+m to go to TD. Have we even entered the structural trap yet? I don't think so. Also, as advised, the area of interest intersected is open to increase once logged.
But, WTFDIK, I'm the same as most here in that we don't really know anything unless advised.
If I'm reading Brian's comment correctly the stratigraphic sits on top of the structural play therefore if we found gas close to the top of the TAGI sequence that means the big target is in play?
"Exploration for stratigraphic traps has, as a general rule, a higher risk than when exploring for more simple structural traps. The stratigraphic nature of the NE Lakbir trap adds an additional risk to the overall prospect risk. Reservoir effectiveness of the TAGI is still the key risk, but the addition of the trap risk has the effect of compounding the overall prospect risk. The TE-10 well location lies within the bigger stratigraphic trap, but located on a smaller structural closure. This smaller structural closure is a lower risk location in terms of finding a gas accumulation. If TE-10 works, the well should also prove the larger volume upside of the stratigraphic component of the North East Lakbir prospect, as described in our recent RNS. So, we have communicated that the chance of success on the larger stratigraphic trap is 14%. But the chance of success of finding moveable hydrocarbon at the TE-10 well is 26%."
From the 1st casing point RNS
"The Company looks forward to updating investors on achievement of each of the second casing point (9 5/8" casing), the setting of a 7" liner (if required) and achievement of total depth."
From todays RNS
"The Company looks forward to updating investors on the achievement of total depth. Further announcements will be made, as appropriate, in due course."
No mention of the 7" liner today. Oversight maybe?
Would they only run the liner if they had something in the TAGI to protect therefor any mention of running it would indicate gas in the TAGI and that's why they've dropped it from this RNS?
A wildcatter is an American term for an individual who drills wildcat wells, which are exploration oil/gas wells drilled in areas not known to be oil/gas fields.
Given the amount of data we have acquired I think it's safe to say this isn't a wildcat well. Exploration-yes, appraisal - no, development - no.