TEG 0.00% 0.6¢ triangle energy (global) limited

longreach starts drilling between 4 teg blocks

  1. 959 Posts.
    Hi All,

    The drilling campaign in Morocco by the international musketeers has started.

    Thanks to Jonno07 from the TPT thread for this info (but there is plenty of other links if you google them):

    **********
    Cairns Energy, Gulfsands Petroleum and now Longreach.

    Exciting times ahead!!!

    KOBA-1 WELL ON SIDI MOKTAR COMMENCES

    18th November 2013

    LONGREACH OIL AND GAS LIMITED

    Koba-1 well on Sidi Moktar Commences

    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 drilling of the Koba-1 well on the Sidi Moktar licence, onshore Morocco has now commenced, using the Saipem Drillmec Mas 7000 rig.

    The Sidi Moktar licence is located in the Essaouira basin, onshore Morocco. The Koba-1 well has a planned Total Depth of 2,700m and operations are anticipated to take approximately 50 days. The Koba prospect is targeting Lower Liassic and Upper Triassic clastic reservoirs.

    Commenting, Andrew Benitz, CEO of Longreach, said:

    "We are delighted to announce the spudding of the Koba-1 well. The commencement of drilling marks a key step in Longreach’s operations in the Sidi Moktar permit. Longreach has carried out an extensive work programme of geophysical, geological and related studies to define and de-risk the portfolio of leads and prospects from which Koba has been selected as the prime candidate for drilling.

    Longreach is operator with a 50% interest, alongside ONHYM and MPE, each with a 25% carried interest.

    http://www.marketwatch.com/story/longreach-oil-gas-koba-1-well-on-sidi-moktar-commences-2013-11-18
    **********

    Even though success by any of the companies drilling in Morocco will have a significant flow-on effect on all of the other companies, Longreach's drill is one of the most relevant ones to TEG as it's surrounded by TEG's blocks.

    Longreach's Sidi Moktar block that it's drilling the Koba-1 well is right next to 4 of TEG's blocks (C1, C2, ADBA & Souss) - here's a map of the blocks:



    Exciting times with so much drilling with approvals to come any time.
 
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