July 25, 2011
Longreach Investor Presentation July 2011
July 25, 2011
Final Short Form Prospectus
July 01, 2011
Q1 2011 Financial Statements

Tarfaya Licence


Longreach has a gross 30% interest in the Tarfaya Exploration Licence.  Located in Southern Morocco it covers an area of 13,434 square kilometres (3.32million acres). It is prospective for Triassic and Jurassic oil and there are a number of existing discoveries in the region.  It is located onshore and borders the Atlantic coastline.  The Licence was awarded by ONHYM in November 2007 and became effective from 14th January 2008 for an eight year term. 

During 2008 the potential of this Licence has been confirmed by a Competent Persons' Report compiled by Netherland Sewell & Associates which gave the Licence area a gross "Probable Prospective Oil Resource" of 711.3 mm barrels.  A prospectivity report during the year identified 15 leads, several with significant magnitude. An extensive seismic reprocessing programmme will be concluded March 2010 to identify high-grade targets for new infill 2D seismic acquisition.

Tarfaya Basic Data

Licence   Exploration Licence, Onshore
Exploration to date   2293km of 2D Seismic. 10 exploration wells.
Work Programme   2D Seismic acquisition (500km)
Prospective Reservoirs   Jurassic carbonates and Triassic clastics
Reservoir Depth   Jurassic: 2500 to 4000 metres drill depth
Triassic: 4000 to 5200 metres drill depth
Hydrocarbon Source Rocks   Jurassic marine shales and Silurian shales
Area   13,434 km2
Trap Style   Faulted horsts, tilted fault blocks and structural noses
Longreach Interest   22.5% post ONHYM back in
San Leon (52.5%, Operator)


  • Ten exploration wells were drilled on the Tarfaya licence area between 1961 and 1972
    • Gas shows were encountered in Triassic sandstones in the Chebika-1 well
    • Oil shows have been recorded within the Jurassic and Cretaceous in both the onshore and offshore parts of the basin
  • 2,293 km 2D seismic survey between 1986 and 1988
  • Reprocessing of this seismic survey will be completed in March 2010
Key Regional Discovery

40km North West from the Tarfaya licence lies the offshore Cap Juby field

  • MO-2 well tested 2,377 BOPD of 12° API from Upper Jurassic karstified and fractured limestone
  • MO-8 encountered light oil (38° API) at the Lower Jurassic limestone reservoir
  • This proven oil play extends onshore onto the Tarfaya licence, where Tertiary erosion is much less and the potential for the preservation of light oil in the Jurassic is very high

Tarfaya Opportunity

  • Principle leads already identified
  • Principle exploration targets are:
    • Daora Structure
      23km² area
      Multiple targets in Jurassic and Triassic
    • J North Structure
      105km² area
      Primary reservoir in Triassic

Resource Potential - Tarfaya Basin

Netherland, Sewell & Associates, extensive resource estimate for the Tarfaya licence:

Tarfaya Licence
  Gross (100%) Longreach Interest (²)
  Unrisked Risked Unrisked Risked
Category Oil Oil Oil Oil
  MMBbl MMBbl MMBbl MMBbl
Low Estimate 133.8 8.5 30.1 1.9
Best Estimate 711.3 40.5 160.0 9.1
High Estimate 3878.6 195.9 872.7 44.1
1) Source: Netherland, Sewell & Associates
2) Assuming ONHYM back in and therefore a Longreach interest of 22.5%

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