Morocco's citizens (and friends) are cautiously optimistic about their country's oil and gas prospects in the wake of a recent announcement by UK exploration firm Longreach Oil and Gas. The Toronto Stock Exchange-listed company announced commencement of drilling of the onshore Koba-1 well in the Sidi Mokhtar license.
The 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 prospect is targeting Lower Liassic and Upper Triassic clastic reservoirs.
Longreach Oil and Gas is a Morocco-focused independent.
There are several good reasons for focusing on the most westerly--and most pro-Western--country in North Africa.