Longreach Oil and Gas Limited notifies contractor to mobilize rig for Kamar well at Sidi Moktar and announces proposed interim

Longreach Oil and Gas Limited notifies contractor to mobilize rig for Kamar 
well at Sidi Moktar and announces proposed interim financing 
(TSXV: LOI) (the "Company" or "Longreach") is pleased to announce that it has 
given notice to its contractor Saipem SpA to mobilize the Drillmec Mas 7000 
rig to the Kamar well location for the purpose of drilling a second well as a 
follow up to its Koba-1 well at its operated Sidi Moktar onshore license area 
in Morocco. 
The Company intends to complete an interim debenture financing of between 
Cdn$10 - Cdn$15 million with a number of qualified investors, the proceeds of 
which will be used for the ongoing development of the Kamar well and for 
general corporate purposes.  It is expected that the debentures will bear 
interest at a rate of 10% per annum and will mature two years from closing and 
will otherwise have terms and conditions customary for transactions of this 
nature.  It is expected that purchasers of debentures will also receive 
non-transferable bonus warrants to purchase ordinary shares of the Company for 
two years from closing (subject to adjustment) with an exercise price of at 
least Cdn$0.30.  Insiders may participate in the proposed debenture financing, 
subject to the availability of applicable related party transaction 
exemptions.  The proposed financing remains subject to execution of definitive 
documentation and approval of the TSX Venture Exchange. 
If the proposed financing is completed, the Company intends to repay the 
debentures with the proceeds of a subsequent public or private offering of 
equity securities, which may include a rights offering to all shareholders of 
the Company. 
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 extremely 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 
www.longreachoilandgas.com and under the Company's SEDAR profile at 
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 a second well at the Company's operated Sidi Moktar onshore license area 
in Morocco; the completion of the proposed interim debenture financing and the 
expected terms and conditions thereof; the participation of insiders of the 
Company in such interim financing; and a potential subsequent equity financing 
if the interim financing is completed.  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;  executing the 
proposed interim debenture financing or potential subsequent equity offering 
on terms which the Company is willing or able to offer; 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 raise adequate proceeds and complete the interim financing on terms 
acceptable to the Company and that the Company will be able to complete a 
subsequent equity offering on terms acceptable to the Company.  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.

SOURCE  Longreach Oil and Gas Limited 
 Martin Arch Chief Financial Officer and Secretary Tel: +44 203 137 7756 
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CO: Longreach Oil and Gas Limited
-0- Mar/03/2014 07:00 GMT
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