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Stratic Group Encounters Gas Shows in Onshore Well

Source: www.gulfoilandgas.com 12/6/2006, Location: Africa

Stratic Energy and partners Heyco Maroc and Energycorp Maroc, spudded the Menadra-1 wildcat well back on 27th October on the Moulay Bousselham permit, onshore Morocco using the ONHYM (Moroccan national oil company) owned H-525 Ideco drilling rig. The well was designed to test a buried thrusted anticlinal structure, tentatively assigned to be Cretaceous in age, although reservoir prediction was very uncertain.

The well reached total depth of some 1503 meters, having encountered poor to modest gas shows over the interval below 900 meters. Evaluation of the logs suggests the shows were derived from possibly highly fractured intervals within a sequence of predominately calcareous claystones and marls with occasional thin sandstone stringers developed therein. In the absence of significant shows and a material reservoir interval the partners elected not to conduct any further testing of the well, which has been plugged and abandoned.

The well fulfills the work commitment on the initial term of the exploration permit that covers both the Moulay Bousselham and Mamora areas. The well results and, in particular, the derived lithological and stratigraphic information will be further analyzed prior to the partners electing whether to continue the permits into a second three year exploratory period in mid 2007. Stratic has a 36% working interest (27% post ONHYM back- in) in both areas. Commenting on the results, Kevin Watts, President and Chief Executive, said "We were disappointed not to find commercial hydrocarbons in our first well in Morocco, in which reservoir development was always the key risk, but we continue to evaluate the remainder of the block for further prospectivity."

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