Taroudant - San Leon Energy, an Oil & Gas Exploration Company, found gas in Laayoune-4 well, in the southern region of Morocco.
Taroudant – San Leon Energy, an Oil & Gas Exploration Company, found gas in Laayoune-4 well, in the southern region of Morocco.
The found Oil & Gas Exploration Company announced that it found 23 meters of sandstone and conglomerate (some 10 metres more than expected and 100 meters shallower than first thought) in the Laayoune-4 well.
After the encouraging signs for shale oil extraction and gas discovery, the company said it is applying for an eight-year exploration license for the Tarfaya onshore block in Morocco.
“The work confirmed the presence of gas shows, the ‘good quality’ of the reservoir and the ‘encouraging potential of the block,” San Leon said.
“We are very pleased with the results of the Laayoune-4 well,” said chief executive Oisin Fanning.
Last year, the company reported encouraging signs for shale oil extraction at its Timahdit permit, a small town (about 110 kilometers away from Fez)
Regarding the discovery, Oisin Fanning, executive chairman of San Leon Energy said: “Our Timahdit oil shale project continues to show its long-term potential to generate up to 11,000 bpd for 30 years and the current work is designed to build the business case to attract capital investors.”