Gulfsands Petroleum said today that its Moulay Bouchta licence in Morocco had expired.
London-Listed Gulfsands previously said Morocco had indicated a willingness to extend the licence to June 2018.
But the firm said it was still trying to find a partner for the licence, which expired yesterday.
Gulfsands said it remained in active dialogue with the Moroccan Government to reach an agreement.
Moulay Bouchta licence holds prospective resources of about 149 million barrels of oil, the company said.