Predator Oil & Gas Holdings PLC has released an update on its Phase 1 rigless testing programme in Morocco. The testing with small perforating guns confirmed formation damage, leading to modifications in the design parameters for the Phase 2 Sandjet testing. The company is confident that Sandjet will achieve its objective to establish gas flow. Gas samples analysis confirmed up to 99.57% methane suitable for Compressed Natural Gas (CNG) development. The MOU-5 Jurassic well planning is on track, and there is no change to available discretionary working capital to carry out the Sandjet testing programme.
The Phase 1 rigless testing programme aimed to confirm potential formation damage caused by heavy drilling muds and estimate the minimum depth of penetration of drilling mud into the potential reservoir formations. The testing revealed that the under-sized perforating guns failed to penetrate beyond the zone of formation damage. Gas analysis of isotube gas samples from MOU-3 indicated that the gas is biogenic in origin and suitable for CNG development with minimum processing.
The results of the Phase 1 rigless testing programme will allow the design parameters for the Sandjet testing programme to be set with a higher degree of confidence. The company plans to proceed with the Sandjet testing programme to perforate multiple potential reservoir zones recognized by NuTech. The Sandjet rigless well testing programmes for MOU-1, MOU-3, and MOU-4 will be finalized, and the mobilization of the Sandjet crew and equipment will occur shortly after necessary regulatory approvals have been received.
Predator Oil & Gas Holdings PLC will continue to progress planning activities for the drilling of the MOU-5 well to test a large Jurassic structure updip from MOU-4. The ongoing geochemical characterization by Applied Petroleum Technology (UK) Ltd. of the interpreted Jurassic section penetrated in MOU-4 is encouraging.