First Sahara Energy Inc. reports that over the past few months, the Company's management and technical consultants have been involved in ongoing discussions with officials in ONHYM, Morocco's Ministry of Energy & Mines. These interactions have included three visits to Morocco and extended meetings with ONHYM's technical team, culminating in an in-depth evaluation of 14 available blocks of oil and gas properties.
As a result of this work, First Sahara has narrowed down its evaluation and has commenced formal negotiations with ONHYM for a Reconnaissance License work program on a large block of onshore property. The discovery of commercial hydrocarbons would be a tremendous boost for Morocco's energy sector as the country strives to become self-sufficient. The parties expect these negotiations to reach a conclusion shortly.