www.longreachoilandgas.com
Longreach Oil & Gas (TSX-V: LOI) is an independent oil and gas exploration company, with significant exploration acreage, managed by a team with excellent technical, commercial and financial skills. Our strategy includes a regional focus within North Africa. In Morocco we enjoy fiscal conditions that are recognised to be amongst the most favourable worldwide. Longreach is incorporated in Jersey, Channel Islands.
In-Depth Longreach Oil and Gas Articles
Archive-
23/02/2012
Paradigm Capital sees "significant upside potential" in Longreach Oil & Gas
The Canadian capital markets firm says that Longreach "provides significant upside potential from both crude oil and natural gas with a relatively short expected monetization periods on success".
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22/02/2012
Longreach Oil & Gas: Tapping into the huge potential of Morocco
One of the earliest entrants to Morocco, Longreach Oil & Gas (CVE:LOI) has spent the past five years building an impressive landholding in what chief operating officer Andrew Benitz describes as the “last under-explored basin in North Africa”.
Related Media
Archive-
27/02/2012
Longreach Oil & Gas Presentation (PDF)
Longreach Oil & Gas Presentation in Toronto on the One2One Investor Forum on February 27th -
13/02/2012
Longreach Oil & Gas: set for increased momentum and growth in 2012, says COO, Andrew Benitz
Andrew Benitz, Longreach Oil & Gas (TSX-V:LOI) COO, tells Proactive Investors that the Company is working toward multiple milestones this year, including the possible monetisation of its key Sidi Moktar asset
What do others think of Longreach Oil and Gas
Presentations & Company Media
30/01/2012
Corporate Presentation 2011 (Presentation)
Related Research & Media
Company Statement:
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
Current Operations:
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
| 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
Management
Major Shareholders
Contact Information
LONDON OFFICE
International House
1-6 Yarmouth Place,
London W1J 7BU
United Kingdom
JERSEY OFFICE
Queensway House
Hilgrove Street
St Helier
Jersey
Channel Islands JE1 1ES
Email: ir@longreachoilandgas.com
Tel: +44 203 137 7756
Fax: +44 207 629 1317
Longreach Oil and Gas Ltd.
Company number 106297
Corporate Information
LEGAL COUNSEL
Fasken Martineau DuMoulin LLP
66 Wellington St W
Suite 4200 Toronto Dominion Bank Tower
Box 20 Toronto-Dominion Centre
Toronto ON M5K 1N6
Canada
AUDITORS
Deloitte & Touche LLP
3000 Scotia Centre
700 2nd Street SW
Calgary AB T2P 0S7
Canada
ADMINISTRATIVE OFFICE
Queensway House
Hilgrove Street
St Helier
Jersey
Channel Islands JE1 1ES
BANKERS
Barclays Bank PLC
Library Place
St Helier
Jersey
