Gulfsands Petroleum provide the following update on activities underway in Morocco.
Rharb Drilling Programme
Drilling operations on the Al Krima 1 well (AKR-1) located within the Rharb Centre Permit in Northern Morocco have now commenced using the recently imported COFOR SAS rig referred to in our news release of 10th July, 2013. The AKR-1 well is the first of nine wells to be drilled on the Rharb permits in two back to back drilling programmes.
The AKR-1 well is planned to be drilled to a total vertical depth of approximately 1450 metres and is designed to evaluate two distinct Miocene aged reservoirs, contained within a fault bound structural closure, that have been identified from seismic data as having the potential to be gas bearing.
The AKR-1 well is located very close to existing infrastructure, with the surface location of the well lying within one kilometer of a gas export pipeline into which it is anticipated a successful well would be quickly tied in for delivery of gas to pre-existing demand from local buyers.