Longreach Oil and Gas Limited - Drilling Commences on Kamar-1 Well at Sidi Moktar

 Longreach Oil and Gas Limited - Drilling Commences on Kamar-1 Well at Sidi  Moktar  SAINT HELIER, Jersey, March 21, 2014 /CNW/ - 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 onshore drilling  of the Kamar-1 well on the Company's operated Sidi Moktar exploration licence  area in Morocco has now commenced, using the Saipem Drillmec Mas 7000 rig.  The Kamar-1 well has a planned Total Depth of 3,500m and operations are  anticipated to take approximately 70 days. The Kamar prospect is targeting a  Lower Liassic reservoir and Triassic clastic reservoirs.  Longreach is the operator with a 50% interest in the exploration license at  the Sidi Moktar onshore license area, alongside its partners ONHYM and MPE,  each with a 25% carried interest.  About Longreach  Longreach is an independent 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 kilometeres 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  www.sedar.com.  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 anticipated timing  of the completion of, and the reservoirs targeted by, the drilling of the  Kamar-1 well. 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; risks inherent in oil and gas operations; political  risk, including geological, technical, drilling and processing problems;  unanticipated operating events which could cause drilling to be delayed; any  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  drilling of the Kamar-1 well will be completed as expected without material  complications. 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.    SOURCE  Longreach Oil and Gas Limited  Martin Arch Chief Financial Officer and Secretary Tel: +44 203 137 7756  march@longreachoilandgas.com  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/March2014/21/c6337.html  CO: Longreach Oil and Gas Limited NI: OIL FIELD FIN  
Press spacebar to pause and continue. Press esc to stop.