NewsGnom.es
SAINT HELIER, Jersey, March 21, 2014 /NEWS.GNOM.ES/ – LONGREACH OIL AND GAS LIMITED (TSX-V: LOI) (the ”Company” or “Longreach”), an independent oil and gas company focused on Morocco, is pleased to announce that the onshore drilling of the Kamar-1 well on the Company’s operated Sidi Moktar exploration licence area in Morocco has now commenced, using the Saipem Drillmec Mas 7000 rig.
The Kamar-1 well has a planned Total Depth of 3,500m and operations are anticipated to take approximately 70 days. The Kamar prospect is targeting a Lower Liassic reservoir and Triassic clastic reservoirs.
Longreach is the operator with a 50% interest in the exploration license at the Sidi Moktar onshore license area, alongside its partners ONHYM and MPE, each with a 25% carried interest.
About Longreach
Longreach is an independent oil and gas company focused on its significant land position in Morocco. The Company has a 50% operated interest in the Sidi Moktar license area covering 2,683 square kilometeres and is working closely with ONHYM as a committed long-term partner to unlock the hydrocarbon potential of the region. Morocco offers a politically stable environment to work within and has extremely favourable fiscal terms to energy producers. Longreach is a public company listed on the TSX Venture Exchange under the symbol “LOI”.
Additional information about the Company can be found at www.longreachoilandgas.com and under the Company’s SEDARprofile at www.sedar.com.
