(MENAFN- ProactiveInvestors)
() has some interesting news in the pipeline regarding preliminary results in relation to the MZ-1 exploration well offshore Morocco.
Pura Vida has a 23% interest.
The total gross unrisked mean prospective resources is over 1.4 billion barrels (328 mmbo net to Pura Vida) with a high case of over 3.0 billion barrels.
The estimated well cost is US$136.6 million (including contingencies).
Pura Vida carried up to US$215 million by Freeport plus option at Pura Vida’s election for additional carry in excess of US$215 million
The halt will remain in place until the opening of trade on Wednesday 29th July 2015 or earlier if an announcement is made to the market.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.