Genel finds oil in Sidi Moussa block off Morocco

Serica Energy plc has informed that the SM-1 well in the Sidi Moussa block offshore Morocco has reached a total depth of 2,825m MDBRT (measured depth below rotary table) and encountered oil during drilling operations. 

Preparations are underway to perform cased hole testing.

Tony Craven Walker, Chairman and CEO of Serica said, “We are at a very early stage and the presence of hydrocarbons in this frontier block will require further evaluation. At this stage it is premature to make any definitive technical interpretation. The planned well test is being designed to achieve this objective as far as possible and an update will be released once these operations are concluded.”

Oisin Fanning, San Leon Executive Chairman, commented:

 “Testing the SM-1 well aims to evaluate the structure and its hydrocarbon potential as much as possible at this stage of early exploration, and we look forward to updating the market with the results once these are available.”

Genel confirms the information contained in the operational updates issued by its partners and also says it is premature at this stage of operations and ahead of the forthcoming testing of the well to make any definitive technical interpretation.

To remind, Genel Energy has begun drilling operation at its SM-1 well, offshore Morocco in July, 2014.

Serica has a 5% working interest in the Sidi Moussa block. Its partners are Genel Energy (Operator) and San Leon Energy.

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