Predator oil firm set to start drilling in Morocco — TradingView News

By N Saeed

Predator Oil & Gas is preparing to begin drilling at its MOU-6 well in Morocco in the next two week, the company said in a statement.

The Jersey-based company said civil engineering work for the MOU-6 well pad in Morocco has been completed, marking a key step toward the start of drilling operations.

The company said explosives needed for perforating guns used during well testing have arrived at a Moroccan port.

Predator described the equipment as the most important long-lead item for deciding when to move the drilling rig to the site.

Predator CEO Paul Griffiths said the company expects to have a date for the start of MOU-6 operations within the next two weeks, based on the current schedule.

“Successful well testing with flow of hydrocarbons is the catalyst for finalising commercial deals and financing arrangements for development based on potentially attractive revenue forecasts. Speculating with regard to such arrangements at this time is mis-guided,” Griffiths said.

The MOU-6 well is part of Predator’s exploration activities in Morocco, where the company is focused on developing onshore gas resources, according to local reports. The company said successful testing and evidence of hydrocarbon flow would help it move toward commercial agreements and financing for future development.

(Writing by N Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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