LONGREACH OIL AND GAS LIMITED
5 April, 2011
LONGREACH OIL AND GAS LIMITED
("Longreach" or "The Company")
Operations Update
LONGREACH OIL AND GAS LIMITED (TSX-V : LOI ), an oil & gas company
focused on Morocco, is pleased to provide the following operational
update.
Tarfaya and Zag licenses
Preparations for the Company's upcoming 1,000km 2D seismic programme in
the Tarfaya and Zag licenses, onshore Morocco, have begun. The seismic
programme is scheduled to begin in late Q2 2011.
The operator of the licence has formed a seismic acquisition company,
SeisQuest, which will carry out the Tarfaya and Zag seismic programmes.
SeisQuest will use wireless technology from OyoGeopspace (USA) and
vibrators from Sercel (France) and a Polish crew.
Foum Draa and Sidi Moussa licenses
The full re-interpretation of the seismic data on the offshore Foum
Draa and Sidi Moussa licenses is close to completion.
The Company notes that its partner in the license, San Leon Energy Plc,
has announced that it is likely to seek farm-in partners for drilling,
following the completion of seismic acquisition.
The Company looks forward to updating the market on any further
developments in due course.
For Further Information:
Longreach
Bryan Benitz Chairman & CEO +44 20 3137 7756
Pelham Bell Pottinger
Mark Antelme / Philip Dennis/Jenny Renton +44 207 861 3232
www.longreachoilandgas.com
Additional information on Longreach Oil and Gas Limited can be found at
www.sedar.com
Notes to Editors
About Longreach
Longreach holds varying interests in 4 exploration licenses in southern
onshore and offshore Morocco, totalling approximately 11.8 million
acres of exploration acreage, accounting for approximately 15% of the
country's total license area.
Longreach's Zag license is located in the Zag-Tindouf Basin Complex in
southern Morocco, and is on trend with what are believed to be
significant gas discoveries in Algeria. The Company holds a 30%
interest in the Zag license.
The Tarfaya license represents the Company's nearest term development
opportunity. Multiple prospective structures have been identified based
on current 2D seismic and which will be supported by the programme
currently underway.
The Company holds a 10% interest in each of the offshore Sidi Moussa
and Foum Draa licenses. Multiple prospects have been identified on each
license, six of which have resource potential greater than 150 million
barrels.
As mentioned above, seismic reprocessing is currently
underway and nearing completion.
Statements in this press release regarding Longreach's businesses which
are not historical facts are "forward-looking statements" that involve
risks and uncertainties, such as statements regarding opportunities
available to Longreach and the prospectivity or potential of areas
under license. Since forward-looking statements address future events
and conditions, by their very nature they involve numerous assumptions,
inherent risks and uncertainties, both general and specific, including
the risk that predictions and other forward-looking statements may not
prove to be accurate. Do not rely on forward-looking statements, as a
number of important factors, many of which are beyond Longreach's
control, could cause actual results to differ materially from those
currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This information is provided by RNS
The company news service from the London Stock Exchange
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