.... but
an update from Rigzone, and coincidental with comments from "anon 1."
Australia-listed oil and gas explorer Pura Vida has struck a $230
million deal to sell a stake in its Mazagan exploration permit, offshore
Morocco, the company revealed Thursday.
The buyer – Plains Exploration and Production (PXP) – will take a 52
percent interest in the project, and provide funds needed to test the
license's potential. Pura Vida will receive a cash payment of $15
million on completion of the transaction and PXP will fund the entire
cost of the exploration operations.
The new partners will start by drilling the Toubkal target, which has
been interpreted as a structure which could contain 1.5 billion barrels
of oil. Pura Vida said that the well is likely to be drilled in 2014,
in line with its existing forecast of rig availability and the drilling
programs being planned by the operators of neighboring blocks.
Compared to
the XOM/Hebron story, the Pura Vida/PXP/Morocco story is huge. At the latter link, see also the comments to take you to some nice PDF presentations, if interested.
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