Triangle Signs LoI for Moroccan Blocks

Australian independent Triangle Energy has entered into a LoI that will have it joining the hunt for oil both onshore and offshore Morocco.  The company signed the LoI, which covers six blocks, with Morocco’s state-run firm ONHYM.

Triangle Energy will prepare a work program for each of the retained exploration blocks and negotiate and finalize with ONHYM the provisions of petroleum agreements and association contracts.

The blocks covered under the LoI are both oil and gas opportunities for Triangle, with three of the onshore blocks containing 11 exploration leads and prospects.

The onshore blocks include the Tselfat, the Asilah, the Souss, and the Abda. The offshore blocks consist of the CI and the CII.

http://www.triangleenergy.com.au/

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