Longreach Oil & Gas has announced the start of its 500 km 2D seismic programme ahead of plans to drill its first well on the Sidi Moktar permit onshore Morocco next year
In a statement, the company revealed that the survey of H1 will cover drill targets, Koba and Kamar, in Sidi Moktar to further assess and optimise the drilling location for these prospects.
It is hoped that the survey will also help convert a number of other identified leads into drillable prospects.
Longreach has contracted Prospectiuni SA to deploy its advanced technology Vibroseis cable-less crew to acquire the data. This survey is part of the fulfilment of licence obligations.
The 2D seismic survey is expected to take two months, with processing being undertaken in parallel with data acquisition.
This approach will provide new data in a timely manner for Longreach to confirm its well locations for its 2013 well programme.
Longreach is also launching international tenders for a rig to drill two wells and to procure the associated long-lead items.
"This is one of the final stepping stones to drilling our first well," said Bryan Benitz, chairman and chief executive officer of Longreach.
"The company expects to be fully funded for its current multi-well programme for next year, where the aim is to target a relatively low risk prospect, which if successful, will allow to get into early production to generate near-term cash flow.
“This will provide additional foundations for the company's medium term plan for Morocco, where we plan to drill and bring on stream a combination of high impact and near-term producing assets."
Longreach has also completed a comprehensive petrophysical analysis of the neighbouring wells to gain a better understanding of the reservoir and assesss the potential of the entire Triassic stratigraphic section.
