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PetroMaroc Partners With Sound Energy plc on Sidi Moktar

PetroMaroc Corporation plc (TSX VENTURE:PMA), an independent oil and gas company focused on Morocco (the "Company" or "PetroMaroc"), is pleased to announce that it has reached a non-binding heads of agreement (the "Heads of Agreement") with a specialist Mediterranean gas company. Sound Energy plc, listed on AIM (AIM:SOU) ("Sound Energy"), under which Sound Energy partners with PetroMaroc on onshore gas licences located in Morocco (collectively, the "Sidi Moktar Licences").

Kosmos Energy Provides Update on 2015 Exploration Drilling Program

Kosmos Energy (NYSE: KOS) announced today that the CB-1 exploration well located in the Cap Boujdour permit area offshore Western Sahara encountered hydrocarbons. The well penetrated approximately 14 meters of net gas and condensate pay in clastic reservoirs over a gross hydrocarbon bearing interval of approximately 500 meters. The discovery is non-commercial, and the well will be plugged and abandoned.

Farm-out of 25% interest in Rabat Deep Offshore (Morocco) to Woodside approved

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, reports that, as detailed in the announcement of 4 July 2014, the farm-out signed between its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Ltd. and a wholly owned subsidiary of Woodside, Australia's largest independent oil and gas company, has been approved for the Rabat Deep Offshore permits I-VI by the Moroccan authorities.

AfBD grants €176 million for the second phase of the largest solar power station in Africa

The Board of Directors of the African Development Bank Group has approved one loan of €100 million and another of US $119 million for phase II of the Ouarzazate solar complex project (the NOORo II and NOORo III power stations), the former from the Bank's own resources and the latter from the Clean Technology Fund (part of the Climate Investment Funds) in its capacity as executing agency. This second phase of the project aims to develop two new power stations with a total capacity of around 350 MW and average estimated cumulative production of over 1,100 GWh per year.

PetroMaroc Seeks Industry Partner to Develop Sidi Moktar

PetroMaroc Corporation plc (TSXV: PMA) (the Company or PetroMaroc) is pursuing a series of strategic and financial alternatives with the objective of maximising shareholder value following the independent assessment of prospective resource in the Kechoula structure on the Sidi Moktar Exploration Licence in Morocco (‘‘Sidi Moktar’’).

Farm-out Agreement and Resource Update in Rabat Deep Offshore, Morocco

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, is pleased to announce that its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Ltd., has signed a farm-out agreement with a wholly owned subsidiary of Woodside, Australia's largest independent exploration & production company. Following completion of this agreement, which is subject to the approval of the Moroccan authorities, Woodside will hold a 25% equity interest in the Rabat Deep Offshore permits I-VI, Morocco, in return for paying 100% of the 3D seismic acquisition and processing costs incurred across the licence by Chariot, as well as all back costs and a carry on planned multibeam side-scan sonar and seabed coring. 

Longreach’s First Quarter Natural Gas Drilling Sets the Foundation for Promising 2014 Exploration Work in Morocco

During the first quarter of 2014, LONGREACH OIL AND GAS LIMITED (TSXV: LOI) (the Company or Longreach) outlined detailed results of its first exploration well in Morocco, Koba-1, and commenced drilling of its second exploration well, Kamar-1, which subsequent to the quarter-end encountered two prospective natural gas zones in the Sidi Moktar licence in the Essaouira Basin of the North African nation.

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