Highlights
- Rig 205 contracted to drill Snowcap-3 ('SC-3')
- 600-foot oil column extrapolated for the Herrera #8 Sand
- Pre-drill forecast for SC-3 to test Herrera #8 Sand approximately 170 feet above lowest known oil in Rochard-1
Predator Oil & Gas Holdings, the Jersey-based Oil and Gas Company with producing hydrocarbon operations and exploration activity focussed on Trinidad and Morocco, has announced an update on the rig to drill Snowcap-3 in Trinidad,
SC-3 drilling rig
The Company has executed a drilling rig contract with Star Valley Drilling (Trinidad) Limited for Rig 205.
SC-3 drilling and well testing operations will commence shortly after the completion of the MOU-6 well in Morocco. This will ensure optimum deployment of the Company's management team to efficiently supervise each individual operation in two different jurisdictions.
Primary target update - Herrera #8 Sand
Following on from earlier this year when the oil fluid level and reservoir pressure extrapolation in Snowcap-2ST1 was measured and a light oil sample assayed, the results have now been integrated with the new 3D seismic interpretation and adjusted bottom hole location for the Herrera #8 Sand in the highly deviated well Snowcap-1.
The results indicate that Snowcap-2ST-1, Snowcap-1 and Rochard-1 wells support an extrapolated oil column for the Herrera #8 Sand of 600 feet.
The pre-drill forecast is that SC-3 will potentially confirm the Herrera #8 oil column approximately 170 feet higher than the oil encountered in Rochard-1 in the Herrera #8 Sand. SC-3 will also evaluate the Herrera #1 Sand secondary objective approximately 200 feet higher than its oil-water contact seen in Rochard-1.
Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:
'Our pre-drilling preparations are progressing extremely well in our two drilling jurisdictions. Rig contracts have been executed; environmental approvals are in place; civil engineering work for drilling and production facilities is underway; drilling and technical programmes have been finalised and submitted for regulatory approvals; well services contractors have been selected; and well inventory is being assembled at our well sites.
We are confident of a successful outcome to our drilling programmes such that we are planning the next stages of accretive project development. In Trinidad this may focus on the potential for converting any surplus wellhead gas in Cory Moruga into onsite electricity generation for hydrogen fuel cells (to replace LPG reliance) and data centres. Initial approaches have been made to the Company; however it is too early to say if these will lead to a commercially robust business development model. The Company is also in early stage discussions with an entity that has significant experience over many years in analysing and producing biogenic gas in Romania. Initially a technical collaboration is envisaged to focus on "semi-conventional" potential gas reservoirs. We have previously reported the potential for such reservoirs in Morocco and should the technical collaboration go ahead then this would be an important step in evaluating and de-risking the potential based on third party proven experience. MOU-6 is forecast to provide a suite of wireline logs and pressure points that may contribute to understanding the additional semi-conventional gas potential.'
Source: Predator Oil & Gas
