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Wednesday, July 30, 2014
Tangiers Petroleum issued an update on the Galp Energia-operated TAO-1 exploration well offshore Morocco on the Tarfaya Offshore Block. The TAO-1 exploration well has intersected the shallowest and secondary objective, Assaka. Tangiers said based on currently available information, no hydrocarbon shows have been encountered.
A full petrophysical evaluation of the Assaka objective will be carried out at section total depth. Drilling operations continue as planned towards the primary and largest objective, Trident. The TAO-1 exploration well has been designed to test Trident at its optimal location. Tangiers’ interpret that success at Trident is not co-dependent on the results from Assaka.
The high impact TAO-1 exploration well spud on June 26 and is expected to intersect two of three possible objectives within 60 days from spud.
Tangiers Petroleum has a 25% participating interest in the Tarfaya Offshore Block.
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