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San Leon acquires working interests from Petromaroc, offshore Morocco


Published Sep 9, 2014
San Leon Energy

San Leon Energy has acquired the following working interests from Petromaroc Corporation PLC, previously called Longreach Oil and Gas Limited:

◾ San Leon has acquired Petromaroc's 1.5% net working interest in the Sidi Moussa licence, offshore Morocco. The drilling of the SM-1 well on the Nour prospect is currently underway by the operator, Genel Energy PLC ("Genel), for a consideration limited to assuming Petromaroc's share of expenditure of the Minimum Work Obligations. Serica Energy PLC and Genel have been notified of this transfer. ◾ Petromaroc has also transferred its 22.5% net working interest in the Tarfaya Onshore licence to San Leon, the operator of the licence. Petromaroc will pay San Leon its share of expenditure during the current exploration period. San Leon is now in the process of obtaining an extension of the current period and a revised work programme.

Tags: San Leon Energy




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