Longford Energy that following the strategic review initiated in the fourth quarter of 2007, management has aggressively pursued and evaluated high impact international exploration and production opportunities that could potentially offer significant upside and shareholder value.
One of the primary focus areas has recently been the Kurdistan region of Iraq under the authority of the Kurdistan Regional Government (KRG). Geologically, the area is a part of the Zagros fold and thrust belt, and is considered to be one of the most prospective, underexplored, hydrocarbon fairways in the world, with prolific oil and gas discoveries including the Kirkuk field with estimated discovered reserves of 25 billion barrels. To date, the Company has not entered into any definitive agreements with the KRG or any independent third parties with regards to potential participation or acquisition of an interest in a concession.
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