Rabat - Oil & Gas exploring company Gulfsands Petroleum said Tuesday it encountered gas bearing reservoirs of excellent quality representing second consecutive successful gas exploration well on the Rharb permit, onshore Morocco.
The company said in a statement that drilling operations on the Dardara Southeast 1 well (DRC-1), located within the Rharb Centre Permit in Northern Morocco have now been concluded approximately two days ahead of schedule.
The drilling operations resulted in "significantly elevated "gas readings, which indicate the presence of a gas bearing sandstone reservoir of excellent quality.
"In addition to encountering a potentially highly productive net gas bearing interval of 16 meters, the DRC-1 well result indicates substantial additional gas exploration potential to exist in an adjacent and up dip fault block and this will be targeted in drilling during 2015," the statement added.
Mahdi Sajjad, the company's chief executive officer, said the results of the drilling operations and petrophysical evaluation are "the best exploration success that the company has achieved in Morocco to date."
"The results have given us a firmer understanding of the local geology and the indication of further gas exploration potential to exist up dip in the Dardara South East structure is particularly pleasing," he added.