Oil in Morocco: Longreach becomes PetroMaroc and plans to invest more than 40 million dollars in 2015

Quite a symbol... The oil exploration company Longreach has decided to rename itself PetroMaroc, according to a statement published on June 18. Even if for the moment it has not discovered a drop of oil in the kingdom, this "junior company" of Canadian origin thus marks its anchoring in the Moroccan hydrocarbon landscape.Registered in Jersey, led by Canadian management, and listed on the Toronto Stock Exchange, PetroMaroc is an independent exploration company led by a few experts in the sector. It has obtained several permits from the Moroccan authorities in recent years. To implement them, it has raised funds on the stock market or from private investors. On April 10, it successfully completed a private placement of 9.7 million dollars. TRACES OF GASAlthough without any commercial activity, PetroMaroc's capitalization on the Toronto Stock Exchange reached 25 million Canadian dollars.To…