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Aims23 the reason they went for guns, in order to hold on to the licence
In order to carry out Phase 1 rigless testing, conventional 111/16" perforating guns, being the only option available at the time to allow Phase 1 rigless testing to commence before 5 February 2024 and the end of the extension of the Initial Period of the Guercif Petroleum Agreement facilitated by Amendment #3, were used.
Simply join the dots
Depending on the results of the Phase 1 rigless testing, Petroleum Agreement Amendment #4 would also potentially facilitate an application by 5 March 2024 for a single Exploitation Concession over the area tested by MOU-1 and MOU-3, providing geological continuity of potential gas reservoirs can be demonstrated.
Keith Oz is more than likely incorrect with further drilling at MOU3
Discretionary appraisal/development drilling is provisionally scheduled for H2 2024.
Subject to an application and the subsequent award of an Exploitation Concession and regulatory approval of the drilling programme, the Company may drill two appraisal/development wells to potentially, if successful, add incremental gas resources to support and extend the CNG production profiles.