Oil in Morocco?!..., page-14

Below is from Malcy's Blog re: Genel oil find in Morocco:
(Key date for more news on their well result appears to be the CMD on 13 November)
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Genel (LON:BENL) /San Leon (LON:SLE) /Serica (LON:SQZ) - Down, sideways, up…
This morning San Leon and Serica announced that the Sid Moussa well, SM-1 had reached TD and had ‘encountered oil during drilling operations’. Genel then announced that whilst testing was indeed taking place it might be ‘premature’ to read too much into the news. The reasons for the different disclosures are because San Leon and Serica are Aim listed and Genel is not, the latter would probably have preferred not to have put anything out at all. However, Genel as operator are spending north of $20m on the testing so it must feel that it is at least worth the while doing it. Testing this will take 2-4 weeks and with a Capital Markets Day scheduled for the 13th of November, Genel has the perfect target for what might indeed be very good news. All eyes have been on offshore Morocco for some time now and with a couple of dusters so far success here would be a boost for all the players in the area. After the announcements the Genel price fell, San Leon’s remained unchanged whilst Serica’s rose 11%, try explaining that away…

http://www.*.co.uk/columns/the-pay-...sources-san-leon-energy-and-others-17145.html

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