Welcome!

News Feed Item

Longreach Oil & Gas announces Seismic Acquisition

JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 11/27/12 --


27 November 2012


                   LONGREACH OIL AND GAS LIMITED

          Seismic Acquisition Ahead of 1st Well in H1 2013

LONGREACH OIL AND GAS LIMITED (TSX-V: LOI) ("Longreach"), an
independent oil and gas company holding exploration and near term
development licences in Morocco, is pleased to announce the start of
its 500 km 2D seismic programme ahead of plans to drill its first well
on the Sidi Moktar permit onshore Morocco in H1 next year.

The survey will cover the slated drill targets of Koba and Kamar, to
further de-risk and optimise the drilling location for these prospects,
as well as to help convert a number of other identified leads into
drillable prospects.

Prospectiuni SA ("Prospectiuni"), which has extensive seismic
acquisition experience in Morocco, has been contracted to deploy its
advanced technology Vibroseis cable-less crew to acquire the data.
This survey is part of the fulfilment of licence obligations.

The 2D seismic survey is expected to take 2 months, with processing
being undertaken in parallel with data acquisition. This approach will
provide new data in a timely manner for Longreach to confirm its well
locations for its 2013 well programme.

In preparation for its 2013 drill campaign, Longreach is also launching
international tenders for a rig to drill two wells and to procure the
associated long-lead items.

Commenting, Bryan Benitz, Chairman and CEO of Longreach, said: "This is
one of the final stepping stones to drilling our first well.
The Company expects to be fully funded for its current multi-well
programme for next year, where the aim is to target a relatively low
risk prospect, which if successful, will allow to get into early
production to generate near-term cash flow. This will provide
additional foundations for the Company's medium term plan for Morocco,
where we plan to drill and bring on stream a combination of high impact
and near-term producing assets."

Longreach had interpreted over 4,500km of existing 2D seismic data on
Sidi Moktar and has now completed the reprocessing of 1,750km with Key
Seismic Solutions Ltd ("Key Seismic") in Calgary. Key Seismic has
provided cutting-edge in-house seismic processing technologies which,
under Longreach's careful guidance, have yielded a significantly
enhanced image of the prospective Triassic section in the subsurface.
This enhanced image was achieved through the judicious use of Key
Seismic's proprietary multiple attenuation and pre-stack time migration
software. The removal of multiple reflections and the imaging of the
dipping Triassic rocks, correlated into the nearby gas-producing
Meskala field, has transformed the prospectivity of the Triassic
section of some large structures.

Longreach has also completed a comprehensive petrophysical analysis of
the neighbouring wells to better understand the reservoir and seal
potential of the entire Triassic stratigraphic section. This study has
confirmed the required reservoir and seal properties of the prospective
Triassic reservoir units in this proven hydrocarbon basin.

                                -ENDS-

For Further Information:

Longreach

Bryan Benitz            Chairman & CEO                 +44 20 3137 7756

Pelham Bell Pottinger

Mark Antelme / Philip Dennis / Rollo Crichton-Stuart   +44 207 861 3232


Additional information on Longreach Oil and Gas Limited can be found at
www.longreachoilandgas.com

Additional information on Longreach Oil and Gas Limited can also be
found at www.sedar.com


Special Note Regarding Forwarding Looking Statements:

This press release contains forward-looking statements. These
statements relate to future events or the Company's future performance.
All statements other than statements of historical fact are
forward-looking statements. Forward-looking statements are often, but
not always, identified by the use of words such as "may", "will","should",
"expect", "plan", "anticipate", "believe", "estimate","predict",
"project", "potential", "targeting", "intend", "could","might", "continue"
or the negative of these terms or other similar terms. Forward-looking
statements in this press release include, but are not limited to the
completion of evaluations and processing and interpretation of data, the
performance characteristics of the Company's oil and gas properties,
capital expenditure programs, drilling plans, and realization of the
anticipated benefits of acquisitions.

Forward-looking statements are only predictions. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ materially
from those anticipated in such forward-looking statements. Some of the
risks and other factors which could cause results to differ materially
from those expressed in the forward-looking statements contained in
this press release include, but are not limited to: general economic
conditions in Canada, the Kingdom of Morocco and globally; industry
conditions, including fluctuations in the price of oil and gas,
governmental regulation of the oil and gas industry, including
environmental regulation; fluctuation in foreign exchange or interest
rates; risks inherent in oil and gas operations; political risk;
geological, technical, drilling and processing problems; unanticipated
operating events which could cause commencement of drilling and
production to be delayed; the need to obtain consents and approvals
from industry partners, regulatory authorities and other third-parties;
stock market volatility and market valuations; competition for, among
other things, capital, acquisitions of reserves, undeveloped land and
skilled personnel; incorrect assessments of the value of acquisitions
or resource estimates; any future inability to obtain additional
funding, when required, on acceptable terms or at all; credit risk;
changes in legislation; any unanticipated disputes or deficiencies
related to title matters; dependence on management and key personnel;
and risks associated with operating in and being part of a joint
venture.

Although the forward-looking statements contained in this press release
are based upon assumptions which management of the Company believes to
be reasonable, the Company cannot assure that actual results will be
consistent with its expectations and assumptions. Undue reliance
should not be placed on the forward-looking statements contained in
this news release as there can be no assurance that the plans,
intentions or expectations upon which they are based will occur. These
statements speak only as of the date of this press release, and the
Company does not undertake any obligation to publicly update or revise
any forward-looking statements except as expressly required by
applicable securities laws.


Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.



                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contacts:
RNS Customer Services
0044-207797-4400
Email Contact
http://www.rns.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
yperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let’s say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it....
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
Vulnerability management is vital for large companies that need to secure containers across thousands of hosts, but many struggle to understand how exposed they are when they discover a new high security vulnerability. In his session at 21st Cloud Expo, John Morello, CTO of Twistlock, will address this pressing concern by introducing the concept of the “Vulnerability Risk Tree API,” which brings all the data together in a simple REST endpoint, allowing companies to easily grasp the severity of t...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, discussed how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He also discussed how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
Connecting to major cloud service providers is becoming central to doing business. But your cloud provider’s performance is only as good as your connectivity solution. Massive Networks will place you in the driver's seat by exposing how you can extend your LAN from any location to include any cloud platform through an advanced high-performance connection that is secure and dedicated to your business-critical data. In his session at 21st Cloud Expo, Paul Mako, CEO & CIO of Massive Networks, wil...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, will introduce two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a...
Any startup has to have a clear go –to-market strategy from the beginning. Similarly, any data science project has to have a go to production strategy from its first days, so it could go beyond proof-of-concept. Machine learning and artificial intelligence in production would result in hundreds of training pipelines and machine learning models that are continuously revised by teams of data scientists and seamlessly connected with web applications for tenants and users.
IT organizations are moving to the cloud in hopes to approve efficiency, increase agility and save money. Migrating workloads might seem like a simple task, but what many businesses don’t realize is that application migration criteria differs across organizations, making it difficult for architects to arrive at an accurate TCO number. In his session at 21st Cloud Expo, Joe Kinsella, CTO of CloudHealth Technologies, will offer a systematic approach to understanding the TCO of a cloud application...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Secure Channels, a cybersecurity firm, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Secure Channels, Inc. offers several products and solutions to its many clients, helping them protect critical data from being compromised and access to computer networks from the unauthorized. The company develops comprehensive data encryption security strategie...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).