Genel Energy Finds Oil in Sidi Moussa Offshore Morocco

Serica Energy confirmed that the SM-1 well in the Sidi Moussa block offshore Morocco has reached a total depth of 2,825m MDBRT (measured depth below rotary table) and encountered oil during drilling operations.

Preparations are underway to perform cased hole testing.

Serica has a 5% working interest in the Sidi Moussa block. Its partners are Genel Energy (Operator) and San Leon Energy.

Tony Craven Walker, Chairman and CEO of Serica said, “We are at a very early stage and the presence of hydrocarbons in this frontier block will require further evaluation. At this stage it is premature to make any definitive technical interpretation. The planned well test is being designed to achieve this objective as far as possible and an update will be released once these operations are concluded.”