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Thursday, January 2, 2014
Longreach Oil & Gas saw some potentially positive results with the drilling of its Koba-1 well on the Sidi Moktar License in Morocco’s Essaouira Basin. The well was spud in mid-November and reached total depth at 3,100 meters encountering a potential Liassic sandstone reservoir with gas shows.
The Lower Liassic sandstone was encountered very close to the expected depth and has a gross interval of approximately 45 meters showing reservoir potential. Over this section, gas shows of over 10% were encountered with heavier hydrocarbon components of over C5.
Longreach said that after logging in the Lower Liassic section, the well was drilled to total depth to continue the exploration of the second target of the prognosed Triassic sandstones. No further potential reservoir sections or significant shows were encountered beneath the Lower Liassic.
The Koba structure is the first prospect to be drilled as part of the exploration program. A portfolio of leads and prospects have been identified and, following the results of Koba-1, the outlook for further prospectivity will be reviewed.
Longreach has a 50% operated interest in the Sidi Moktar License area and is partnered by ONHYM and MPE (25% carried interest each).
Commenting, Dennis Sharp, executive chairman, said: “This is a positive start to our operated exploration campaign in the Essaouira Basin, onshore Morocco, which is most encouraging. The company is currently evaluating all of the available data in order to determine the testing program for the well. We look forward to gaining a fuller understanding of the result of the Koba well.”
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