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Atwood Achiever Gets Assignment for 2 Wells in Mazagan Permit off Morocco

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Pura Vida Energy NL (Pura Vida or the Company) reported Monday the execution of a rig share agreement for the drilling of two wells in the Mazagan permit offshore Morocco by Atwood Achiever (UDW drillship).

The Atwood Achiever is contracted to Kosmos Energy under a long term hire arrangement. Under the rig share agreement with Kosmos, two slots have been assigned for the drilling of wells in the Mazagan permit. The first of these slots will be used to drill the Toubkal-1 well and is expected to commence in January 2015. The second slot will be in 2H 2015.

Pura Vida’s Managing Director, Damon Neaves, said:

“We are now two years into the work program for the Mazagan permit. Securing the rig for the two well drilling campaign is a major milestone which allows us to test key prospects and provides the opportunity for an early assessment of the value of the permit.”

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