Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

San Leon Energy Plc Adds Two New Licences In Morocco

8/09/2014 by

W1siziisijiwmtqvmtavmjgvmtuvmtuvntyvnjm2l2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Shares of San Leon Energy increased by up to 8% in early trade after the oil and gas company acquired two licences in Morocco, one of the few underexplored regions in North Africa.

San Leon has acquired Petromaroc’s 1.5% working interest in the Sidi Moussa offshore licence, where Genel Energy is currently drilling.

Petromaroc has also transferred its 22.5% working interest in The Tarfaya Onshore licence. The deal means Petromaroc will pay San Leon its share of expenditure during the current exploration period.

Both transfers of interest are pending the approval of Morrocan authorities.

Oisin Fanning, San Leon’s executive chairman, commented:

“We are delighted to have acquired additional interests in our two highly prospective licences in Morocco at no additional costs to the Company. The excellent fiscal terms and high potential upside all contribute to make Morocco one of the last exploration frontiers.”

The company made a loss last year, and shareholders will hope for value creation through successful exploration projects.

Prospective investors should consider that the only competitive advantage among oil and gas businesses is to be the lowest cost producer. As such, close study of the balance sheet is essential prior to any trading decision.

This article has been extracted from http://www.fool.co.uk/, please click on this link to read the article in full http://www.fool.co.uk/investing/company-comment/2014/09/08/san-leon-energy-plc-adds-two-new-licences-in-morocco/

Montash is a multi-award winning, global technology recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmduvmdqvmtyvndavmzkvotg5l3nodxr0zxjzdg9ja181ndm0mduxmtuuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

7 Things About Your CV You Need To Fix Right ...

2017-05-04 18:00:00 +0100

As a global technology recruitment agency, we are in touch with candidates day in and day out. We've seen all kinds of CVs in our time and know a good one when we see it. As our recruitment team look to find the ideal candidate, they are looking for CVs that show how candidates can impact their clients in a positive way, not just look flashy on paper. You only have a small amount of space on your CV to show off your skills, so make every word count. Cut...

W1siziisijiwmtcvmdqvmjqvmtqvmzqvmzuvnjg3l3nodxr0zxjzdg9ja182mdq2otc5nziuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

What Does A Snap Election Mean For Recruitment?

2017-04-25 08:00:00 +0100

On Tuesday 18th April, Prime Minister Theresa May called a snap general election for 8th June, taking the nation by surprise. Rather than waiting until 2020, voters will now be casting their ballots in a matter of weeks. The hope for the government is that a Tory victory give the prime minister a strong mandate in parliament as Brexit negotiations begin. This sudden decision has been embraced by many in the recruitment industry due to the anticipated st...