San Leon Energy in 'active discussion' over Tarfaya
San Leon Energy, the north Africa-focused oil and gas explorer, says it has achieved "connectivity" between two test wells at its Tarfaya oil shale project in Morocco.
San Leon Energy, the north Africa-focused oil and gas explorer, says it has achieved "connectivity" between two test wells at its Tarfaya oil shale project in Morocco.
The company says test well A and B are "hydraulically connected through a permeable zone from 191.00 to 197.62 meters below ground level".
The proven connection between the wells has prompted San Leon to look for an alternative drilling site "to test the extent of the play and the associated water aquifers".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
San Leon says it is in "active discussions" with "interested parties" over partnering at Tarfaya and a data room has been set up so those companies can assess results so far.
Oisin Fanning, Chairman of San Leon, commented: "We are delighted to have confirmed natural connectivity between the wells. However, we have decided that San Leon should not be taking any environmental risk whilst we aim to continue to prove up the in situ extraction concept of the Tarfaya oil shale resources."
San Leon shares have lost 59% of their value over the last 12 months.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry