Morocco Off-Shore: Absolutely Nothing To Do With The Bakken ...

.... 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.