PROPERTY ACQUISITION / Lasmo Acquires New License Offshore Morocco
NYSE SYMBOL: LSO
MAY 26, 1998
LONDON, ENGLAND--LASMO Overseas Nederland (II) B.V., a subsidiary
of LASMO plc the international oil and gas exploration and
production company, today announced that it has been granted a
Reconnaissance License covering approximately 11,400 square km of
the Ras Tafalney area offshore western Morocco.
The Reconnaissance License, for an initial term of one year, will
enable LASMO to complete an evaluation of the drilling potential
of the area. As part of that evaluation, LASMO plans to acquire
700 km of new seismic and magnetics/gravity data in addition to
reprocessing 700 km of existing seismic data.
The offshore license is adjacent to the onshore Essaouira
Reconnaissance License, which was awarded to LASMO in November
1997 and is currently under evaluation.
In addition to LASMO's listing on the New York Stock Exchange,
LASMO shares trade on the London, Toronto and Montreal Stock
Exchanges. Shares are quoted on the SEAQ System, and prices may be
accessed on the Reuter Equities 2000 Service under the symbol
LSMR.L and on Quotron under the symbol LSMRU.EU. For further
information, visit LASMO's web page at http:\\www.lasmo.com.
(Map available on request. Please contact Taylor Rafferty
Associates)
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