Proactive Investors Australia
Pura Vida has secured a drill rig to sink two wells in the Mazagan permit, offshore Morocco.
Africa-focused oil and gas explorer Pura Vida (ASX: PVD) announced a major milestone – securing a drill rig to sink two wells in the Mazagan permit, offshore Morocco.
It has executed a rig share agreement with Kosmos, which has the Atwood Achiever Deepwater Drillship under a long term hire.
Two slots have been assigned for the drilling of wells – the first will be used to drill the Toubkal-1 well, expected to begin in January 2015, while the second slot will be in the second half of 2015.
Pura Vida’s managing director Damon Neaves, said: “We are now two years into the work program for the Mazagan permit.
“Securing the rig for the two well drilling campaign is a major milestone which allows us to test key prospects and provides the opportunity for an early assessment of the value of the permit.”
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