Morocco Well Testing results announced by San Leon
San Leon, the AIM listed company focused on oil and gas exploration in Europe and North Africa, confirms that the SM-1 well in the Sidi Moussa block offshore Morocco has reached a total depth of 2,825mMDBRT (measured depth below rotary table) and encountered oil during drilling operations. Preparations are underway to perform cased hole testing.
San Leon holds a 10% net working interest in the Sidi Moussa block. Total well testing costs are expected to be approximately $22m (net paying interest $3m to San Leon).
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.”
Joel Price, who has reviewed this update, has 20 years’ experience in the oil & gas industry and is a member of the Society of Petroleum Engineers. He holds a BA in Natural Sciences from Cambridge University, an MEng from Heriot-Watt University, and an MBA from Durham University. Joel is Chief Operating Officer for San Leon Energy and is based in San Leon’s London office.