SAINT HELIER, Jersey (March 21, 2014) - 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.
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”.
For further information, please contact:
Chief Financial Officer and Secretary
Tel: +44 203 137 7756