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Studied: Power Engineering, Exploration Technology, Worked Upstream, Midstream, Downstream in Oil and Gas, Pipelines, Drilling, Refineries. Regardless of our desire for clean energy, oil makes things and is the building block of any economy. From production to transport to refining its the... More
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  • LongReach Oil And Gas (LOI) 2 comments
    Mar 17, 2013 4:28 PM | about stocks: LNGRF

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    Interesting Exploration play in Morocco. TMX Exchange: LOI

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    A Pure Exploration in Morocco, LOI owns 13% of all licenses

    Has raised $30 Million, has 2 wells lined up with identifiable targets. Could be drilling in Q2 to Q3 on the Koba prospect. A large 4 way closure exists on seismic, the target is a Triassic sandstone.

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    EXPLORATION POTENTIAL is quite interesting in Morocco, the Sidi Moktar license is where they plan to drill the first well. Oil can be sold right in country, demand is strong, morocco imports 99% of all Oil and 91% of all gas. tax royalty is only 10% for oil. 10 year tax holiday on discoveries, making 1 barrel found in Morroco, similar to 13BBL in Algeria, or 7 Barrels in Nigeria. The jurassic has produced 30bcf of gas, any gas can easily be sold to the OCP Phosphate mine as it is consumed in vast quantities to make phosphate.

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    GOVERNMENT is very supportive of finding new Hydrocarbons, the low tax and royalty is very compelling. existing pipelines make any new find rather straight fwd to a demanding market.(click to enlarge)

    KOBA and Kamar are the two prospects to be drilled in 2013. Both sit on land with prior history of oil/gas shows. Koba could spud (start drilling) between April-June pending rig availability.

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    The management team has experience in north Africa, last year some of the directors were part of AOI or Africa oil, which was the TMX Venture best performer of 2012, producing a 347% return due to a discovery well.

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    Repeating this kind of success is on the mind of the CEO who is a relative of the Director of AOI. The Nat. Gas needs of the phosphate industry combined with high prices for Nat Gas, make long term contracts viable if the KOBA prospect has commercial gas.

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    Acreage wise LONGREACH has established holding 13% of all existing exploration licences. This is a worthy venture to do some homework on. Drilling will commence between Q2 and Q3.

    [INSERT SEPT 2013]

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    PRESENTATION

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: LNGRF
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  • tullii
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    Author’s reply » SAINT HELIER, Jersey, May 15, 2014 /CNW/ - LONGREACH OIL AND GAS LIMITED (TSXV: LOI) (the "Company" or "Longreach") has encountered two prospective natural gas zones with its Kamar-1 well on the Kechoula structure, located in the Sidi Moktar licence in the Essaouira Basin of Morocco. One zone was in the targeted Lower Liassic formation and the other in the Lower Dogger/Upper Liassic formations.

     

    "These are very promising exploration results from our second Moroccan well, which adds vital, new technical evidence to our growing understanding of the large resource potential in the Kechoula structure. Most importantly, our Kamar-1 well did not encounter any bottom water, which is excellent news for Longreach shareholders and our Moroccan partners," said Dennis Sharp, Longreach's Executive Chairman.

     

    The Kamar-1 well was drilled to a final total depth of 2,790 metres and intersected two distinct gas-bearing intervals. One is in the targeted Lower Liassic natural gas zone and has a gross interval of 110 metres as defined by petrophysical, wireline logs. The other is defined by the presence of significant natural gas volumes in the drilling mud within the Lower Dogger/Upper Liassic zone, which occurs over a gross interval of approximately 100 metres.

     

    "The absence of water in the Lower Liassic formation at the Kamar-1 location adds credence to our previous hypothesis that the incursion of abnormally high-pressured salt water in the Koba-1 well is localized and not an indication of water present in the bottom of the Lower Liassic formation throughout the Kechoula structure," Sharp said.

     

    Kamar-1 was drilled following a disciplined path that capitalized on the lessons learned in Koba-1, which was drilled in late 2013 at a location four kilometres to the northwest. Kamar-1 intersected the Lower Liassic at a depth of 2,132 metres, where, after penetrating some 30 metres, drilling was halted in order to obtain intermediate logs. These logs were interpreted and a number of gas-bearing intervals were selected to test for flow rates, pressures and composition. However, the wireline-conveyed testing equipment was unable to obtain conclusive data about potential flow rates. Once completed, drilling resumed until the total depth of 2,790 metres was achieved and then a final suite of petrophysical logs, acoustic check-shot data and selected side wall cores were obtained.

     

    These data are currently being processed, reviewed, analysed and integrated with the Koba-1 results for the purpose of designing an extensive formation testing program over the gas-bearing intervals encountered at both the Koba and Kamar wells. Contingent on the results of this testing program, a follow-up 3-D seismic program aimed at better identifying potential appraisal drilling locations is planned.

     

    Delineating and defining a hybrid natural gas reservoir
    Longreach's exploration mapping, drilling, logging and core samples data are continuing to define the Kechoula gas-charged structure as geologically complex. Rock sample analyses to date show an internal geological character containing sedimentary beds that are porous and permeable, representing traditional conventional reservoirs, interbedded with tighter sandstones, or unconventional reservoirs that typically span extensive areas and have the potential to yield long productive lives.

     

    Longreach believes it has encountered a hybrid reservoir that holds substantial resource potential. Unlocking this potential requires a comprehensive technical approach, employing both conventional and unconventional reservoir completion techniques of the type that have underpinned North America's recent oil and gas production revolution.

     

    Reservoir evaluation continues alongside plans to secure financing for future operations
    Evaluating Longreach's first two exploration wells and the Kechoula structure represents the initial work in the Company's four-step process to creating sustainable, economic value from prospective reservoirs. The Longreach approach to value creation is founded in: 1) understanding the reservoir; 2) designing a recovery method that maximizes value; 3) implementing cost-effective development; and 4) generating sustainable netbacks using sustainable practices. The Company's Moroccan value creation work is at the early stages of this well-established and well-recognised methodology - a disciplined process that has seen the Company's Canadian technical team generate repeated economic success in a series of companies across the Western Canada Sedimentary Basin over the past 30 years. The Company's next steps in Morocco are expected to include continued evaluation of exploration results to date, which will help define future field work and program plans. Longreach is also planning to conduct financial planning to source the capital required to fund continued work to fully understand the Kechoula structure - essential work that will help set the foundation for potential natural gas production for Longreach and its Moroccan partners at Kechoula and other prospects within the Sidi Moktar acreage.

     

    About Longreach
    Longreach is an independent Canadian oil and gas company focused on its significant land position in Morocco. The Company has a 50 percent operated interest in the Sidi Moktar licence area covering 2,683 square kilometres 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 favourable fiscal terms to energy producers. Longreach is a public company listed on the TSX Venture Exchange under the symbol "LOI".

     

    Read more at http://bit.ly/1nivI5E
    20 May 2014, 08:14 AM Reply Like
  • tullii
    , contributor
    Comments (168) | Send Message
     
    Author’s reply » July 10, 2014 _ Update

     

    PetroMaroc names Thomas Feuchtwanger President & Chief Executive Officer

     

    CALGARY, Alberta, July 10, 2014 --

     

    PetroMaroc Corporation plc (formerly Longreach Oil and Gas Limited) is pleased to announce that its Board of Directors has appointed Thomas Feuchtwanger as the new President & Chief Executive Officer and a Director of the Company. Feuchtwanger was selected following the completion of an international search for a new Chief Executive Officer over the past few months.

     

    "Thomas is a highly accomplished and experienced leader who has built a successful career exploring for and producing oil and natural gas in Canada and a variety of international locations. With more than three decades of experience building value from complex and challenging geological structures, Thomas is ideally suited to lead PetroMaroc as it strives to become the leading hydrocarbon producer in Morocco," said Dennis Sharp, who remains PetroMaroc's Chairman.

     

    A seasoned geologist and petroleum management professional, Thomas graduated with a Bachelor of Science (Hons) from the University of the Witwatersrand in Johannesburg, South Africa in 1973. He began his career as a mineral exploration geologist working in Southern Africa. In 1979 Thomas immigrated to Canada where he worked for 12 years at Gulf Canada exploring for and developing hydrocarbon pools in Canada. At Gulf Canada, he earned positions of increasing responsibility including exploration manager for Western Canada, and business unit manager for non-operated enhanced oil recovery production. In 1992, Thomas was appointed vice president exploration at CS Resources, a Western Canadian junior oil and natural gas company, where he was part of a team that grew production to 18,000 barrels of oil per day and the market capitalization to C$550 million. CS Resources pioneered many technical breakthroughs and reservoir development innovations that helped turn Canada's thermal oil sands production from an experimental industry into a globally competitive oil supplier. After CS Resources was acquired, Thomas worked in senior executive positions in a number of Canadian companies including as President, CEO and a Director of Largo Petroleum which was exploring in Tunisia. Thomas joined PetroMaroc (formerly Longreach Oil and Gas) in January 2013 as Vice President GeoSciences, and was named Vice President Exploration in January 2014.

     

    PetroMaroc was formerly named Longreach Oil and Gas Limited. The Company will notify shareholders when the transition from the Longreach trading symbol "LOI" to the PetroMaroc trading symbol "PMA", which remains subject to the approval of the TSX Venture Exchange, comes into effect.
    10 Jul 2014, 03:33 PM Reply Like
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