Mazagan permit

Location 100 km offshore Morocco, Atlantic Ocean
Area 8,717 km2
Joint Venture
Pura Vida Energy NL 23%
Freeport-McMoRan Oil & Gas LLC (Operator) 52%
ONHYM  25%
Water Depth 1,370 - 3,000 metres
Prospective Resources 6.7 billion barrels (P50) gross, 1.5 billion barrels (P50) net

Overview

Pura Vida holds a 23% interest in the Mazagan permit.  The Mazagan permit is located off the coast of Morocco in the Atlantic ocean.
 
Morocco has seen a surge in transactional activity over the last few years.  This has included majors such as Chevron and BP taking up large offshore acreage positions in blocks neighbouring Pura Vida’s Mazagan Permit.  Following these transactions, Morocco is now seeing an unprecedented level of drilling activity. 
 

Prospectivity 

The prospectivity of the Mazagan permit is prolific, with three independent trends containing multiple prospects and leads mapped on 2D and 3D seismic data.  Pura Vida’s drilling inventory consists of 13 prospects and leads representing prospective resources of 1.5 Bbbls (P50) net. A two well campaign will test the multi-billion barrel potential of the Mazagan permit.
 

Forward Plan

Post-well evaluation of the collected data and samples from MZ-1 is complete, the results from which are currently being integrated into the technical evaluation which includes the recently completed reprocessed pre-stack depth migrated seismic data.  The technical focus is currently on maturation of prospects for the second well in the Mazagan permit.

RESEARCH REPORTS