Chariot updates license reviews offshore Brazil, West Africa

Chariot Oil & Gas has completed evaluation of proprietary 3D seismic data across its four concessions offshore Brazil.

Offshore staff

LONDONChariot Oil & Gas has completed evaluation of proprietary 3D seismic data across its four concessions offshore Brazil.

The company has identified a large structural prospect with multiple targets, and plans to commission an independent audit of the resource potential. On completion, Chariot will invite interested parties to participate in the blocks.

Offshore Morocco, the company operates theKenitra exploration permit, adjacent to the Rabat Deep and Mohammedia license areas.

Earlier this year the company acquired 2D and 3D seismic data over Kenitra and Mohammedia to investigate the extent of potential prospectivity in the Lower Cretaceous play. It has finished processing the data and has now begun interpretation.

In addition, Chariot has identified various prospects in the shallower Lower Cretaceous play, and aims to drill Kenitra-1 in 1H 2019, which has estimated potential resources of 464 MMbbl.

Again, it has initiated a partnering process and has started drilling preparations.

Over Central blocks 2312 and 2412A off Namibia, Chariot has completed interpretation of two integrated proprietary 3D surveys covering a total area of around 6,100 sq km (2,355 sq mi).

It has also identified five structural closures and aims to drill Prospect S during the second half of 2018, with prospective resources of 459 MMbbl.

Following its withdrawal from Southern blocks 2714A and 2714B, Chariot secured an option to back-in for 10% equity at no cost after exploration drilling.

In return, Chariot will manage the partnering program, to be led by NAMCOR, the Namibian state oil company.

12/13/2017

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