Pura Vida continues drilling MZ-1 wildcat; no oil shows so far

Pura Vida Energy NL (ASX: PVD) continues drilling the MZ-1 exploration well offshore Morocco after reaching a depth of 4,653 m (15,265 ft) within the Lower Cretaceous and finding no indication of an effective oil reservoir in either of the secondary objectives in the Cenomanian and Aptian intervals.

Jul 29th, 2015
Offshore Morocco
Offshore Morocco

Offshore staff

PERTH, AustraliaPura Vida Energy NL (ASX: PVD) continues drilling the MZ-1 exploration well offshore Morocco after reaching a depth of 4,653 m (15,265 ft) within the Lower Cretaceous and finding no indication of an effective oil reservoir in either of the secondary objectives in the Cenomanian and Aptian intervals.

Current operations include running casing, prior to drilling ahead to the firm TD of 5,600 m (18,373 ft) in the Jurassic, to test the primary objectives of basin floor Fan-1 and Fan-2. After drilling through these targets, a decision will be made whether to deepen the well to 6,150 m (20,177 ft) to test a third Jurassic fan, Fan-3.

“We are disappointed that the well failed to encounter reservoir in the secondary objectives in the Cretaceous, however we expect to intersect the primary targets in the Jurassic and look forward to reporting those results shortly,” said Managing Director Damon Neaves.

07/29/2015

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