San Leon Energy, the Oil and Gas company that has successfully produced its first oil barrel in Timehdit Morocco, has acquired a 1.5% working interest in the Moroccan oil and gas exploration site of Sidi Moussa, currently being drilled by Genel Energy.
The company has also partnered up for a 22.5% interest with Petromaroc in the Tarfaya Onshore licence.
On the sidelines of conducting those two deals, San Leon Energy’s chairman Oisin Fanning said the following:
“We are delighted to have acquired additional interests in our two highly prospective licences in Morocco at no additional costs to the company.
“The excellent fiscal terms and high potential upside all contribute to make Morocco one of the last exploration frontiers,” Oisin said.
The Moroccan Times.