Vanco Energy reports that on May 4th operations commenced operations on the exploration well Shark B-1 located approximately 130 kilometers off the coast of Morocco in 2,120 meters of water. The well is being drilled with the Saipem 10000 drillship. The main objective is the Top Cretaceous and Albian reservoirs while a Lower Tertiary turbidite play at shallower depths is a secondary target. The planned total depth is 4,162 meters.

The Shark B-1 well is the first deepwater well offshore Morocco. The closest comparable deepwater well is about 1,800 kilometers to the south.

Partners in the Ras Tafelney exploration permit offshore Morocco are Vanco Morocco Limited (Operator, 33.75%); Eni Morocco B.V. (30%); CNOOC Morocco Limited (11.25%); and ONAREP (25%).