(MENAFN- ProactiveInvestors - Australia) Triangle Energy (ASX: TEG) has signed a letter of intent to secure both onshore and offshore acreage in Morocco that hold previously producing oil and gas fields.
The TSELFAT onshore block contains the Haricha, Boudraa and Tselfat fields that produced oil and gas up until 1990.
Potential oil and gas targets have been mapped near the Haricha field that can be quickly drilled and exploited based on an extensive data base of 2D and 3D seismic.
Further potential could come from the 11 exploration leads and prospects with potential prospective resources of more than 600 million barrels of oil and in-place gas of 140 billion cubic feet.
The four onshore blocks cover an area of 12,575 square kilometres while the two offshore blocks cover a 9,229 square kilometre area.
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