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Tuesday, 28 May 2013
Longreach Oil & Gas: Work program could "transform" business
Longreach Oil & Gas (CVE:LOI) expects to participate in a number of wells this year in a work program, which if successful, could transform the business.
In its first quarter results, it said it was making solid progress ahead of its well program at the Sidi Moktar onshore licences.
Well locations have been finalised over the Koba and Kamar drill prospects, tendering for drill services is well advanced and works in preparation of the well sites have begun, it said, unveiling first quarter results.
In March, the firm reported a major uplift in the size of potential resources at the acreage.
"We expect to make further operational updates during the current quarter," said chief executive Andrew Benitz.