Chariot gets extension to offshore Mauritania block

Chariot Oil & Gas Ltd. (AIM:CHAR) has received a one-year extension to its C-19 block offshore Mauritania.

May 1st, 2015

Offshore staff

LONDON –Chariot Oil & Gas Ltd. (AIM:CHAR) has received a one-year extension to its C-19 block offshore Mauritania.

The purpose of the extension is additional time for further studies to de-risk prospects for drilling. As part of the extension, Chariot, as operator, will conduct seabed coring studies.

An independent audit by Netherland Sewell affirms Chariot’s evaluation of the C-19 potential and mentions four specific prospects and additional leads within the fairway.

These prospects are down-dip from the legacy Ras al Beida-1 well which encountered good, thick sands and extensive oil shows and are along strike from the Aigrette-1 well which encountered an oil leg in a 20-m (65.5-ft) sand interval.

C-19 is held 55% by Chariot, 35% Cairn, 10% the Société Mauritanienne des Hydrocarbures et de Patrimoine Miner.

05/01/2015

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