Stocktube video
21/11/2013

Longreach Oil & Gas says there will be exciting times for the company in 2014

View full size
Additional Information
Market: TSX-V
Sector: Energy
EPIC: LOI
Latest Price: C$0.25  (-7.41% Descending)
52-week High: C$0.79
52-week Low: C$0.17
Market Cap: C$20.29M
1 year chart
Deal LOI Tax Free*
*subject to change and depends on individual circumstances.
1 day chart
Advertisement
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
PetroMaroc Corporation
www.petromaroc.co
Deal PetroMaroc Corporation Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

PetroMaroc is an independent oil and gas company with a highly qualified management team. The Company is focused on Morocco which offers a politically stable environment and extremely favourable fiscal terms to energy producers.

Pdf

Longreach Oil & Gas has attractive leverage to very large resources, says broker

January 21 2013, 5:58pm Multiple wells planned this year have the potential to ‘drastically alter’ the company’s profile, the broker says.

 

Morocco focussed explorer Longreach Oil & Gas (CVE:LOI) provides investors with attractive pure-play leverage to very large potential resources, according to Canadian stockbroker Cormark Securities.

Cormark analyst Garett Ursu says, in a note, that multiple wells planned this year have the potential to ‘drastically alter’ the company’s profile. 

“With a relatively small market cap and disproportionate upside potential, Longreach represents an attractive addition to international E&P portfolios,” the analyst said. 

In the note Cormark begins its coverage on the junior oil explorer with a C$1.50 target price – almost 130% higher than the current price of 66 cents. 

The analyst says that as a result of recent deals Longreach now has very large, very experienced partners funding offshore exploration wells at Sidi Moussa and Foum Draa projects. 

And, he adds, that drilling activity in Morocco has accelerated markedly and as an exploration destination it is now attracting leading West Africa oil explorers such as Kosmos Energy, Anadarko, Cairn, Plains, Repsol and Total. 

This is, in part, because of the attractive fiscal terms and exploration opportunities in Morocco, he says. 

“Facing a growing energy deficit, Morocco’s generous royalty and tax regime make it one of the most attractive hydrocarbon regimes in North Africa.

“The country also represents one of the most underexplored regions in North Africa on trend with huge finds in neighboring Algeria, Libya and Egypt.” 

The first wells, at the 50% owned onshore Sidi Moktar project, are scheduled to get underway in the first half of this year. And the partner operated, and funded, offshore well s are expected to be drilled in the fourth quarter of this year, and the first quarter of 2014. 

 

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.