The French state has granted a new hydrocarbon exploration license to BLUEBACH RESSOURCES, a wholly owned subsidiary of MOORE ENERGY AS.
BLUEBACH RESSOURCES was awarded the “Seebach” hydrocarbon exploration license in partnership with Geopetrol. Each company was awarded 50% working interests for an initial 4 years period. The license covers 328 km2 and is located north of the “Soufflenheim” license.
The license comprises proven oil bearing Tertiary sands and potentially oil rich Triassic horizons which have produced hydrocarbons in the neighboring "Pechelbronn" concession and which are one of the main exploration plays on the German side of the Rhine Graben following the recent "Speyer" discovery (Germany).
The Seebach license fits well with MOORE ENERGY’s strategy to pursue and develop marginal, undeveloped and abandoned oil and gas discoveries with further exploration upside potential using the latest imaging and drilling technologies.