Update on Tangiers Petroleum offshore Morocco exploration well

Tangiers Petroleum Limited is pleased to provide an update on the drilling of the TAO-1 exploration well, located offshore Morocco. No major operational issues have occurred to date and the well is expected to intersect the Assakaand Trident objectives within 60 days from spud, as previously announced.

As the well has been designated as ‘tight’, no information related to depth or formation will be provided during the drilling, beyond what is required by the ASX and AIM continuous disclosure obligations.

Drilling history

Drilling began on 26 June and is targeting a huge hydrocarbon bounty of 758 milllion boe, or 190 million barrels net to the AIM and ASX-listed group.

The TAO-1 well is located within a proven petroleum system and is next to the Cairn Energy and Genel Cap Juby heavy oil discovery.

Adapted from press release by Cecilia Rehn

Read the article online at: https://www.oilfieldtechnology.com/exploration/16072014/update_on_tangiers_petroleum_offshore_morocco_exploration_well/