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Longreach shareholders approve name change to PetroMaroc

Published: 06:15 17 Jun 2014 EDT

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Longreach Oil & Gas (CVE:LOI) shareholders yesterday (June 16)approved the name change to PetroMaroc Corporation.

Executive chairman Dennis Sharp told a brief statement: "We are embarking on a new era that reflects our vision to become the leading hydrocarbon producer in Morocco."

The new name is subject to final approval by the venture exchange in Toronto.

Last month, the firm said it had begun discussions to obtain further funds to continue its largely successful exploration programme onshore in Morocco.

On the Sidi Moktar licence, the company continues to assess the results of the Koba-1 well, drilled towards the end of 2103 and the Kamar-1, which was completed on May 1.

The latter intersected two natural gas zones measuring 210 metres in total.

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