Tarfaya Offshore Block

The Tarfaya Block, offshore Morocco, includes eight permits totalling 15,041 square kilometres (approximately 3.7 million acres) situated on the Atlantic Margin, inboard from the Canary Islands. The Block is located within a proven petroleum system and contains multiple prospects and leads within Jurassic and Cretaceous sediments as well as emerging potential within the Tertiary and Triassic Formations.

An independent report prepared by worldwide petroleum consultant Netherland Sewell and Associates Inc. (NSAI) on Tangiers' initial four Jurassic aged prospects established an un-risked best estimate prospective resource of 867 million barrels of oil and a high side of 4,959 million barrels of oil.

Tangiers is the Operator and owns a 75% interest in the eight permits which comprise the Block, with the Moroccan government (OHNYM) being carried for its 25% interest through individual exploration programs. OHNYM retains the option to convert to a 25% working interest in any hydrocarbon pool that is developed.

The Tarfaya Offshore Block includes the Zeus and Little Zeus, La Dam, Assaka, Trident and Tarfaya Marin-A Prospects.

 

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