Maxim Signs Reconaissance Contract for Hassi Berkane Block With ONHYM
June 23 2014 - 11:30AM
Marketwired
Maxim Signs Reconaissance Contract for Hassi Berkane Block With
ONHYM
TORONTO, ONTARIO--(Marketwired - Jun 23, 2014) - Maxim Resources
Inc. (Maxim) (TSX-VENTURE:MXM)(OTCBB:MXMSF)(FRANKFURT:M5H) is
pleased to announce the Corporation has signed a Reconnaissance
Contract for the Hassi Berkane Block (formerly Beni Znassen Block)
in the Kingdom of Morocco ("Morocco").
Maxim signed the Reconnaissance Contract with Mrs. Amina
Benkhadra, the Managing Director of the National Office of
Hydrocarbons and Mines ("ONHYM"). ONHYM and Maxim has 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 km2 with extensive 2-D seismic
data. Key attributes of the Hassi Berkane Block are:
- Similar reservoir and source rocks to the Tselfat area in
central Morocco, which has large proven oil and gas reserves.
- The seismic data reveals several alluring structural anomalies
with a similar profile to the numerous oil & gas fields in the
Tselfat area.
- At least one of the anomalies is extremely large and appears to
be structurally closed.
- There is a known oil seep at the periphery of the Hassi Berkane
Basin.
- Drilling depth to target horizons is less than 3,000
meters.
- The property is close to the Maghreb Europe Gas Pipeline, which
transports gas from the super giant Maghreb gas field in adjacent
Algeria. The pipeline has ample excess capacity.
Maxim will start Stage 1 reconnaissance of the Hassi Berkane
Block in the next 30 days which will consists of;
- Preparation of a NI51-101 Standards of Disclosure For Oil and
Gas Activities by a Qualified Person
- Reprocessing 600 kilometers of existing 2-D seismic data
- Reprocessing 10,000 kilometers of aero mag and gravity
- A rock evaluation of basin outcrops
- A micro-seepage study across the identified structural
anomaly
- Attribute reprocessing of key seismic lines, including direct
hydrocarbon identification
- Hyper spectral/multi-spectral analysis from high-resolution
satellite imagery.
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."
About Maxim
Maxim is an oil and gas production and exploration company. The
Company is focused on identifying assets that are producing or near
term production with possible upgrading and exploration step out
opportunities. The Company is actively seeking projects that meet
this criteria. Investments may be by way of acquisition,
participation and/or fractional interest.
Issued on behalf of the Board of Directors of Maxim Resources
Inc.
Arthur Brown, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain certain
forward-looking information. All statements included herein, other
than statements of historical fact, is forward-looking information
and such information involves various risks and uncertainties.
There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ
materially from those anticipated in such information. A
description of assumptions used to develop such forward-looking
information and a description of risk factors that may cause actual
results to differ materially from forward-looking information can
be found in the company's disclosure documents on the SEDAR website
at www.sedar.com. The company does not undertake to update any
forward-looking information except in accordance with applicable
securities laws.
Maxim Resources Inc.Arthur BrownPresident and CEO(604) 630-0280
or Toll Free: 1-
888-882-8891info@maximresources.comwww.maximresources.com
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