By OGJ editors
HOUSTON, Dec. 1 – Cooper Energy Ltd. plans to spud the Menzel Horr-1 exploratory well on the onshore part of the Bargou block near Gulf of Hammamet off Tunisia in late December 2010.
MHR-1 is the first of two wells to be drilled in the block. The Hammamet West-3 appraisal well is to be drilled in mid-2011, said block participant Jacka Resources Ltd.
Jacka will earn 15% equity in the block for $12 million by funding part of Cooper’s back costs, paying promote on the drilling and testing of both wells, and contributing working interest equity on all expenditures thereafter.
The block has multiple independent structures as follow up exploration opportunities, including Ras Marsa and Kuriate Est, which are expected to be matured into prospects by further technical work.