LONGREACH OIL AND GAS LIMITED, an oil & gas company focused on Morocco, announces the appointment of Jonathan Morley-Kirk as a Non-Executive Director and as Chairman of the Audit Committee.
Mr Morley-Kirk is a Fellow of the Institute of Chartered Accountants in England and Wales specialising in emerging market investments and management. He is also a Fellow of the Chartered Securities and Investment Institute and a member of the Society of Trust and Estate Practitioners.
Mr Morley-Kirk is currently also a Non-Executive Director for Dimension Resources PLC, a mining focused natural resources company, and Petrokamchatka PLC, an oil company with assets in Kamchatka in the far east of Russia.
Previously, Mr Morley-Kirk served as a Director on a range of public and private companies. Jonathan was Chairman of Fox-Davies Capital Limited from 2003 to 2008, a UK based investment bank that specialises in financing junior natural resources companies.
Mr. Morley-Kirk’s appointment is subject to review and approval by the TSXV in accordance with its policies.
Commenting, Bryan Benitz, Chief Executive Officer of the Company, said:
“We are delighted Jonathan has joined Longreach as a Non-Executive Director. He has extensive experience within the sector and a proven track-record serving as a Director and Chairman of a number of highly diverse public companies.”
About Longreach
Longreach holds varying interests in 4 exploration licenses in southern onshore and offshore Morocco, totalling approximately 11.8 million acres of exploration acreage, accounting for approximately 15% of the country’s total license area.
Longreach’s Zag license is located in the Zag-Tindouf Basin Complex in southern Morocco, and is on trend with what are believed to be significant gas discoveries in Algeria. The Company holds a 30% interest in the Zag license.
The Tarfaya license represents the Company’s nearest term development opportunity. Multiple prospective structures have been identified based on current 2D seismic and a further seismic programme is planned for Q4 this year.
The Company holds a 10% interest in each of the offshore Sidi Moussa and Foum Draa licenses. Multiple prospects have been identified on each license, nine of which have resource potential greater than 50 million barrels. Seismic reprocessing is currently underway.
[mappress]
Source: Longreach, February 1, 2011;