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Press Releases

Operations Update

 

LONGREACH OIL AND GAS LIMITED

5 April, 2011

LONGREACH OIL AND GAS LIMITED

("Longreach" or "The Company")

Operations Update

LONGREACH OIL AND GAS LIMITED (TSX-V: LOI), an oil & gas company focused on Morocco, is pleased to provide the following operational update.

Tarfaya and Zag licenses

Preparations for the Company’s upcoming 1,000km 2D seismic programme in the Tarfaya and Zag licenses, onshore Morocco, have begun. The seismic programme is scheduled to begin in late Q2 2011.

The operator of the licence has formed a seismic acquisition company, SeisQuest, which will carry out the Tarfaya and Zag seismic programmes. SeisQuest will use wireless technology from OyoGeopspace (USA) and vibrators from Sercel (France) and a Polish crew.

Foum Draa and Sidi Moussa licenses

The full re-interpretation of the seismic data on the offshore Foum Draa and Sidi Moussa licenses is close to completion.

The Company notes that its partner in the license, San Leon Energy Plc, has announced that it is likely to seek farm-in partners for drilling, following the completion of seismic acquisition.

The Company looks forward to updating the market on any further developments in due course.

For Further Information:

Longreach

Bryan Benitz

Chairman & CEO

+44 20 3137 7756

Pelham Bell Pottinger

Mark Antelme / Philip Dennis/Jenny Renton

+44 207 861 3232

www.longreachoilandgas.com

2

Additional information on Longreach Oil

and Gas Limited can be found at

www.sedar.com

Notes to Editors

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 which will be supported by the programme currently underway.

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, six of which have resource potential greater than 150 million barrels. As mentioned above, seismic reprocessing is currently underway and nearing completion.

Statements in this press release regarding Longreach’s businesses which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as statements regarding opportunities available to Longreach and the prospectivity or potential of areas under license. Since forward-looking statements address future events and conditions, by their very nature they involve numerous assumptions, inherent risks and uncertainties, both general and specific, including the risk that predictions and other forward-looking statements may not prove to be accurate. Do not rely on forward-looking statements, as a number of important factors, many of which are beyond Longreach’s control, could cause actual results to differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


 
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