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
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In the first article of this three-part series on hybrid cloud security, we discussed the Shared Responsibility Model and examined how the most common attack strategies persist, are amplified, or are mitigated as assets move from data centers to the cloud. Today, we’ll look at some of the unique security challenges that are introduced by public cloud environments. While cloud computing delivers many operational, cost-saving and security benefits, it takes place in a public, shared and on-demand ...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, will discuss how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees will learn how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He will also look at what good leadership must entail in order to accomplish this, and how IT managers ca...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).