No hydrocarbons at TAO-1

Tangiers Petroleum has provided the following update on the TAO-1 exploration well located in the Tarfaya Offshore Block, Morocco.

Galp drills duster offshore Morocco
The TAO-1 exploration well, operated by Galp, has intersected the shallowest and secondary objective, Assaka. Based on currently available information, no hydrocarbon shows have been encountered. A full petrophysical evaluation of the Assaka objective will be carried out at section TD.

Drilling operations continue as planned towards the primary and largest objective, Trident.

The TAO-1 exploration well has been designed to test Trident at its optimal location. Tangiers’ interpret that success at Trident is not co-dependent on the results from Assaka.
The company said it would provide additional updates as appropriate.


July 28, 2014