Tangiers Petroleum Limited said that the ongoing interpretation of the re-processed 2-D seismic data from prospects in Tarfaya Block, offshore Morocco is producing excellent results.
Three new prospects and multiple additional leads have thus far been identified. The new prospects have been named Apollo, Hermes and Hercules. These prospects sit in the Lower Cretaceous Tan Tan intervals. Historic well log data from these intervals indicate that they are a series of stacked sand units which have excellent reservoir qualities and expected porosities upwards of 25% in the upper portion of the unit.
Tangiers said it would proceed with the seismic interpretation of the Lower Cretaceous so as to mature many of the recognized leads to prospect status. On completion of the Cretaceous mapping the company will begin to determine prospective resource volumes.
Mark Ceglinski, Chairman of Tangiers Petroleum , commented, “Tangiers is excited with the delineation of these three new prospects. The company believes that the resource potential of the Cretaceous section will rival that previously validated by Netherland, Sewell and Associates for the 4 Jurassic prospects (Assaka, Trident, TMA, and La Dam). The Tarfaya Block is demonstrating its extraordinary potential through the number and size of prospects identified thus far.”
[mappress] Offshore Energy Today Staff , November 30, 2011