StockMarketWire.com
San Leon has commissioned EOT to conduct a study of an oil shale retorting project in a newly awarded onshore shallow oil shale mining area in Morocco. This is in addition to San Leon’s Tarfaya In Situ oil shale acreage of 6,000 km2 which will be pursued in parallel.
A study by Shell in 1985 of an open pit mining project located on a site adjacent to the newly awarded blocks established that mineable reserves from this location were more than sufficient for a 50,000 bbl/day production over 30 years.
The recent award, following the amendment of the Memorandum of Understanding between San Leon and the Office National des Hydrocarbures et des Mines (ONHYM), in Morocco of the additional mining blocks with low over burden and easy access will allow San Leon to test the suitability of the Tarfaya oil shale for EOT’s proprietary process which is successfully used by Eesti Energia in Estonia.
If found suitable, San Leon envisages a commercial retort operation for the production of oil, gas and electricity.
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