Longreach Oil & Gas: Koba-1 well on Sidi Moktar commences

Longreach Oil & Gas: Koba-1 well on Sidi Moktar commences 
JERSEY, CHANNEL ISLANDS -- (Marketwired) -- 11/18/13 --  Longreach
Oil & Gas (TSX VENTURE: LOI) 


 
TSX-V: LOI
 
18th November 2013
 
                    LONGREACH OIL AND GAS LIMITED
 
                 Koba-1 well on Sidi Moktar commences
 
LONGREACH OIL AND GAS LIMITED (TSX-V: LOI) (the "Company" or"Longreach"),
an independent oil and gas company focused on Morocco, is
pleased to announce that the drilling of the Koba-1 well on the Sidi
Moktar licence, onshore Morocco has now commenced, using the Saipem
Drillmec Mas 7000 rig.
 
The Sidi Moktar licence is located in the Essaouira basin, onshore
Morocco. The Koba-1 well has a planned Total Depth of 2,700m and
operations are anticipated to take approximately 50 days. The Koba
prospect is targeting Lower Liassic and Upper Triassic clastic
reservoirs.
 
Commenting, Andrew Benitz, CEO of Longreach, said:"We are delighted to
announce the spudding of the Koba-1 well. The
commencement of drilling marks a key step in Longreach's operations in
the Sidi Moktar permit. Longreach has carried out an extensive work
programme of geophysical, geological and related studies to define and
de-risk the portfolio of leads and prospects from which Koba has been
selected as the prime candidate for drilling.
 
We thank our partners, ONHYM and MPE for their active support leading
to the drilling of this well and we also thank the local communities
and officials for their full co-operation."
 
Longreach is operator with a 50% interest, alongside ONHYM and MPE,
each with a 25% carried interest.
 
For Further Information:
 
Longreach
 
Andrew Benitz          CEO                           +44 20 3137 7756
 
Pelham Bell Pottinger
 
Mark Antelme / Philip Dennis / Rollo Crichton-Stuart +44 207 861 3232
 
Additional information on Longreach Oil & Gas Limited can be found at
www.longreachoilandgas.com
 
Additional information on Longreach Oil & 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 Company's future operations.
 
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,
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 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

  
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