San Leon Energy has signed a deal to gain exclusive rights to a major shale block in Morocco.
The company has agreed a two-year deal for a 36 sq km block of the Timahdit oil shale deposit to evaluate possible commercial projects on the site.
Recent scans by Enefit OutotecTechnology indicate commercial potential for the site using surface retorting, with the possibility of up to 11,000bopd being produced.
“Based upon the results of the recent analysis by EOT and current oil prices we are committed to a feasibility study evaluating the commercial potential of the Timahdit oil shale,” said San Leon executive chairman Oisin Fanning.
“Timahdit demonstrates San Leon’s commitment to establish a major shale oil project in Morocco.”