Maxim Resources Inc. V.MXM

Beni Znassen Morocco

[DrHoliday]

1.28 million acre block onshore with 2d seismic data to be re-evaluated.
This is a huge block in a country that is dependent on it's neighbour Algeria for it's energy imports.
So, why not develop your own source of domestic energy supplies, bring down the costs and create jobs at the same time? Due to the size of this block, I expect that Maxim will attempt to farm out a deal to a larger oil and gas company to pay for exploration wells and be carried on a percentage interest basis. To acquire a block this big in North America would have been multiples of what Maxim has paid to acquire Beni Znassen. I would lilke to see more details about how foreign owned oil companies work with the Moroccan government, in terms of revenue sharing and timelines governing work commitments. If Morocco can first supply it's own energy needs, then maybe it could become a net enery exporter to Europe in the future.

https://en.wikipedia.org/wiki/Maghreb%E2%80%93Europe_Gas_Pipeline

https://www.longreachoilandgas.com/pdf/LOI_EnergyinMorocco-Report.pdf