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Thursday, June 26, 2014
Maxim Resources signed a Reconnaissance Contract for the Hassi Berkane Block in Morocco. ONHYM and Maxim have jointly applied to the Ministry of Energy, Mines, Water and Environment of Morocco (MEMWE) for the Reconnaissance Concession, which is expected to be issued in the coming weeks.
The Hassi Berkane Block is located onshore in the northeast part of Morocco and encompasses 5,116 sq km with extensive 2D seismic data.
Maxim will start Stage 1 reconnaissance of the Hassi Berkane Block in the next 30 days which will consist of reprocessing 600 km of existing 2D seismic data. The reprocessing of 10,000 km of an aero magnetic and gravity survey and the rock evaluation of basin outcrops. The company will also launch a micro-seepage study across the identified structural anomaly among other activities. In addition Stage 1 calls for the preparation of a NI51-101 Standards of Disclosure For Oil and Gas Activities by a Qualified Person.
Art Brown, CEO and President of Maxim stated; “Maxim has been seeking new opportunities that will have both exploration and near term production possibilities. This Hassi Berkane Block has a substantial footprint and the early stage research appears promising. Morocco has become a new frontier for oil and gas exploration and production and we are very excited about the opportunity to participate in this country’s development.”
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