Longreach Oil and Gas Ltd

Longreach Oil & Gas Ltd. (TSX-V: LOI) is a fast growing oil and gas exploration company, with significant licence interest in onshore and offshore Morocco.

 

- 5 licences covering 7 offshore blocks and 21 onshore block

- Large acreage position: 52,706 km² or 13 million acres

- 70 leads and prospects with significant hydrocarbon potential

- Portfolio of Near Term Development & High Reward Exploration

- Unique fiscal terms in a stable political environment

- No stranded assets - Morocco is 2nd largest energy importer in Africa

- Country Focus - Exclusively Morocco

 

Click here for Audio Interview - Andrew Benitz - Platts Oil Maters Podcast - May 1st 2012

 

CNBC Arabia - Interview with Longreach's C.O.O -  March 22nd 2012 

 

 

Why Morocco?

 

COUNTRY STATISTICS

 

Size: 710,850 km2

2008 Population: 34,343,200

 

 

 

POLITICAL & ECONOMIC STABILITY

 

Under the leadership of King Mohammed VI, Morocco is regarded as one of the most politically stable country's on the African continent

Macroeconomic stability with low inflation, a large reserve of foreign exchange and a diminishing foreign debt

GDP growth of 5.8% in 2008 and 7.3% in 2006

Fitch Sovereign risk rating: BBB with stable outlook

 

 

OIL & GAS FUNDAMENTALS

 

Net Importer - 78% of gas consumption and 99% of oil consumption

Demand growing at 6.5% per year - faster than China

US$5 billion energy bill

One of the largest energy consumers in Africa

Favourable Fiscal Regime

 

Regarded as one of the most favourable fiscal regimes worldwide

New Hydrocarbon law since 2000

Exploration has intensified since this new code

Exploration permit: 8 years

Exploitation permit: 25 years, with 10 year extension

State pays its share of exploitation costs

 

FISCAL COMPARISONS

Region	Oil Royalty	Gas Royalty	Corporate Tax	State Participation	Additional
Algeria	Up to 50%	Up to 50%	20%	Up to 90%
Brazil	10%	10%	34%
Germany	15%	35%	33%
UK	-	-	50%
Morocco	10%	5%	32%	Up to 25%	10 year tax break

 

 

Exploration Development in Morocco

Longreach's acreage represents over 15% of total Licenced acreage

 

For further information please click here 

 

Operations 

 

 

 

ONSHORE, SIDI MOKTAR

 

Exploration Licence

 

Interest: Operator, 50%*

 

Gross Gas In Place Potential (Best Case): 292 Bcf.

 

OFFSHORE, SIDI MOUSSA & FOUM DRAA

 

Exploration Licence

 

Interest:  Non Operator with 7.5%*

 

Gross  Prospective Resources (Best Case): 2,899 MMbbls

 

ONSHORE, ZAG BASIN

 

Exploration Licence

 

Interest:  Non Operator with 22.5%*

 

Multi TCF Resource Potential 

 

ONSHORE, TARFAYA

 

Exploration Licence

 

Interest:  Non Operator with 22.5%*

 

Gross  Mean Resource Potential: 711 MMbbl

* Working Interest after ONHYM back in for a  maximum 25% Working Interest.  ONHYM is carried during the exploration  phase and becomes a full cost partner after backing in.

 

 

 

For further information please click here

Bryan Benitz Chairman & CEO, Director

Andrew Benitz COO, Director, Corporate Secretary

Jonathan Morley-Kirk CFO, Director

NON-EXECUTIVE DIRECTORS

 

Dr Mahmoud Zizi Non Executive Director, Technical Advisor

Yogeshwar Sharma Non Executive Director

Cam Deacon Non Executive Director