Signature of a Petroleum Agreement between ONHYM and HEYCO MAROC, ENERGYCORP MAROC, and STRATIC Energy (Morocco), Inc. on two onshore permits:” Maamora” and “Moulay Bousselham”.

Madame Amina BENKHADRA, the General Director of ONHYM , M. George M. Yates, the President of HEYCO MAROC, M. Bruce Gates, the President of ENERGYCORP MAROC, and M. Hugh G. Ross, the President of Stratic Energy (Morocco), Inc. have signed, in the presence of His Excellency M. Mohamed Boutaleb, Minister of Energy and Mines, His Excellency Mr. Thomas Riley, Ambassador of the United States in Morocco, and Mr. Maurice Bernier, Economic Advisor to the Embassy of Canada in Morocco, a petroleum agreement for exploration in two onshore permits named “Maamora” and “Moulay Bousselham”.

During the initial three – year - period, plans include the acquisition of geophysical works, geological studies, and the drilling of wells in order to evaluate the hydrocarbon potential of this onshore area covering approximately 4000 km².

The signing of this Petroleum Agreement, in addition to the thirteen agreements and the three reconnaissance contracts on the Onshore and the Offshore areas, reinforces the interests of international oil companies in exploring Moroccan hydrocarbon opportunities.

Within the framework of the development strategy to encourage investments in Morocco and with conformity to the high directives of HIS MAJESTY THE KING MOHAMMED VI, GOD BLESS HIM, ONHYM has sustained its promotional efforts and policy toward the oil industry by participating in various international oil industry events and by encouraging international oil companies to evaluate and assess the hydrocarbon potential of our subsurface.