Gulfsands Petroleum chief executive Mahdi Sajjad said the well is the operator’s third successful probe in a row in Morocco after January’s Dardara Southeast 1 (DRC 1) well and last July’s Lalla Yetou Updip 1 (LTU 1) well.
The company’s shares traded up 8% at £0.39 on London’s Alternative Investments Market following news of the find.
The explorer said that the Douar Ouled Balkhair 1 ( DOB 1) gas exploration well flowed to surface during clean up at rates in excess of 10 million standard cubic feet per day.
The
