Welcome!

News Feed Item

Longreach Prepares to Drill Into Target Liassic Formation With Kamar-1 well in Morocco

SAINT HELIER, Jersey, April 23, 2014 /PRNewswire/ --

Leveraging the lessons of the Koba-1 exploration well in North Africa 

LONGREACH OIL AND GAS LIMITED (TSXV: LOI) (the "Company" or "Longreach") is about to drill into the targeted Lower Liassic formation, the first prospective zone, with the Company's second Moroccan exploration well - Kamar-1 - on the Sidi Moktar onshore licence.

"We have set intermediate casing in Kamar-1 at approximately 1,960 metres of total vertical depth (TVD). Kamar-1 is a key evaluation well that should add considerable knowledge to our on-going assessment of the resource potential of the highly prospective Kechoula structure located in our Sidi Moktar license in the Essaouira Basin in Morocco. As expected, our drilling team encountered increasing gas content in the mud column as the Kamar-1 drill bit approached the Lower Liassic formation. Given the results of our first Moroccan well drilled in late 2013 into the Kechoula structure - Koba-1 - this gas content increase in Kamar-1 was anticipated. Based upon our detailed technical audit of the drilling of Koba-1, we have modified our Lower Liassic drilling and evaluation program and have the procedures in place at Kamar-1 to capture the necessary petrophysical data that will help map our path to exploration understanding and potential success. We expect to drill into and log the Lower Liassic zone over the next few weeks," said Dennis Sharp, Longreach's Executive Chairman.

Methodically exploring Kechoula step-by-step
The Kamar-1 drilling and evaluation plan is to drill into the Lower Liassic, but to stop short of intersecting the analogous depth where Koba-1 encountered what, based upon technical data, the Longreach team believes is a series of fractures and the source of an influx of abnormally high-pressure water that interrupted the collection of a full suite of reservoir measurements in the Company's first well. At Kamar-1, Longreach plans to penetrate the top of the formation, stop drilling to log and obtain gas samples and side wall cores. By using this methodical approach, the team plans to obtain data on natural gas saturations, gas composition, formation pressures, reservoir porosity, gross and net pay thickness and potential deliverability. This step-by-step incremental approach is designed for Longreach to acquire the petrophysical data that it was unable to gather in the Koba-1 well and to verify the potential of the Kechoula structure.

Capitalizing on and leveraging the lessons of Koba-1
The Longreach technical team, led by Vice President of Exploration Tom Feuchtwanger, is capitalizing on the extensive technical knowledge acquired while drilling Koba-1, which tapped the Lower Liassic formation and encountered an estimated 45 metres of gas-charged sands. The Kamar-1 surface location is about four kilometres southeast of Koba-1, and is expected to intersect the Lower Liassic at a deeper (200 metres) depth than at Koba-1. Longreach believes that proving the existence of a quality reservoir and natural gas at this down-dip location would make the large Kechoula inversion structure highly prospective. This confirmation would form the foundation for an extensive production testing program of Koba-1 and Kamar-1.

"We are following a disciplined, meticulous plan that continues to improve our understanding of the Kechoula potential. Each well is a technical building block to value creation. While there is always anticipation of enormous success early in any exploration program, extracting full value is a longer game that rewards patience and learning from each well, log, evaluation and interpretation," Sharp said.

Crafting exploration and reservoir evaluation success
The Longreach technical team employs a proven, four-step process to creating sustainable, economic value from prospective reservoirs. In management's view, successful exploration, development and value creation is built upon: 1) understanding the reservoir, 2) designing a recovery method that maximizes value, 3) implementing cost-effective development and 4) generating sustainable netbacks using sustainable practices. Longreach's Moroccan exploration is at the early stages of this well-established methodology - a rigorous process that has seen the Company's Canadian technical team generate repeated economic success in a suite of companies across the Western Canada Sedimentary Basin over the past three decades. This accomplished record of commercial and technical success has unlocked enormous value from diverse reservoirs producing a variety of hydrocarbons ranging from high-pressure sour natural gas in complex and fractured mountain geology to expansive bitumen resources encased deep underground in sand. Longreach is deploying parallel practices and procedures in pursuit of unlocking value from the Kechoula structure.

About Longreach
Longreach is an independent Canadian oil and gas company focused on its significant land position in Morocco. The Company has a 50% operated interest in the Sidi Moktar license area covering 2,683 square kilometres and is working closely with ONHYM as a committed long-term partner to unlock the hydrocarbon potential of the region. Morocco offers a politically stable environment to work within and has favourable fiscal terms to energy producers. Longreach is a public company listed on the TSX Venture Exchange under the symbol "LOI".

Additional information about the Company can be found at http://www.longreachoilandgas.com and under the Company's SEDAR profile at http://www.sedar.com.

Special Note Regarding Forward Looking Statements
This press release contains forward-looking statements. Such forward-looking 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, statements regarding the drilling of the Karmar-1 well at the Company's operated Sidi Moktar onshore license area in Morocco; the ability of the Company to successfully complete the drilling program at Kamar-1 over the next few weeks; the ability of the Company to avoid intersecting the analogous depth where Koba-1 encountered technical issues in its drilling program; the ability of the Company to successfully penetrate the top of the formation, obtain gas samples and side wall cores; the ability of the Company to successfully verify the potential of the Kechoula structure; the ability of the Company to intersect the Lower Liassic at a deeper depth than experienced at Koba-1 and to confirm the prospective nature of Koba-1; and the ability of Longreach to successfully employ the four-step process of exploration methodology at Koba-1 and the Kechoula structure to allow management to repeat the success enjoyed in the Western Canada Sedimentary Basin. 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; completing the proposed drilling program at Kamar-1 in a timely and fiscally prudent manner; 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, including 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 factors and 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. Material factors and assumptions which management of the Company has considered in connection with making the forward-looking statements in this press release include that the Company will be able to successfully complete the drilling program at Kamar-1 and to successfully employ its process of exploration methodology at Kamar-1 and the Kechoula structure. 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 the 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 news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Longreach in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available. 

For further information:
Martin Arch
Chief Financial Officer and Secretary
Tel: +44-203-137-7756

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DevOps with IBMz? You heard right. Maybe you're wondering what a developer can do to speed up the entire development cycle--coding, testing, source code management, and deployment-? In this session you will learn about how to integrate z application assets into a DevOps pipeline using familiar tools like Jenkins and UrbanCode Deploy, plus z/OSMF workflows, all of which can increase deployment speeds while simultaneously improving reliability. You will also learn how to provision mainframe syste...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next...
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
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...
"We do one of the best file systems in the world. We learned how to deal with Big Data many years ago and we implemented this knowledge into our software," explained Jakub Ratajczak, Business Development Manager at MooseFS, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
The hierarchical architecture that distributes "compute" within the network specially at the edge can enable new services by harnessing emerging technologies. But Edge-Compute comes at increased cost that needs to be managed and potentially augmented by creative architecture solutions as there will always a catching-up with the capacity demands. Processing power in smartphones has enhanced YoY and there is increasingly spare compute capacity that can be potentially pooled. Uber has successfully ...
All zSystem customers have a significant new business opportunity to extend their reach to new customers and markets with new applications and services, and to improve the experience of existing customers. This can be achieved by exposing existing z assets (which have been developed over time) as APIs for accessing Systems of Record, while leveraging mobile and cloud capabilities with new Systems of Engagement applications. In this session, we will explore business drivers with new Node.js apps ...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...