LONDON (ShareCast) - Specialist oil and gas company San Leon has reported positive findings from a study conducted at its Tarafaya Oil Shale, an operational update issued by the company on Monday has disclosed.

The company, which commissioned Enefit Outotec Technology (EOT) to conduct an initial study of the Tarafaya Oil Shale in Morocco, said that 34 samples had been collected at 0.5m intervals and taken to Estonia and Germany for analysis.

According to the results, an oil yield of 72 litres of oil per tonne of extracted material could be “achievable”, the group reported and preliminary modelling of the project confirmed that a commercial operation would be possible.

Executive Chairman, Oisin Fanning, commented: "We are very encouraged by the results of the preliminary process evaluation conducted by EOT. We are now confident that there are no technical obstacles that would prevent adaption of the Enefit process for processing Tarfaya oil shale.

“Following our announcement regarding Foum Draa last week, we are delighted to announce further progress in the development of our Moroccan assets. Morocco has one of the largest oil shale reserves in the world and projects such as Tarfaya will help the Kingdom meet its future energy needs."

MF

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