20 August 2024
Chariot
Limited
("Chariot", the "Company")
Commencement of Anchois Drilling Operations Offshore
Morocco
Focused
on delivering an expanded development
Chariot Limited (AIM: CHAR),
the Africa focused transitional energy group, is pleased
to announce that the Stena Forth drillship has arrived on location
and drilling operations have commenced on the Anchois East well
(now named "Anchois-3") at the Anchois gas project in the Lixus
Offshore licence, offshore Morocco (Energean 45%, Operator, Chariot
30%, ONHYM 25%).
· Anchois-3 drilling and flow testing operations are expected to
take approximately two months, with Chariot expected to be fully
carried for the anticipated costs of the drilling
campaign
·
Anchois-3 is a multi-objective well with distinct
operational phases:
Pilot Hole
o An initial pilot hole will be drilled with the main objective
to evaluate the potential of the Anchois Footwall prospect, located
in an undrilled fault block to the east of the main field, which
has a 2U Prospective Resource estimate of 170 Bcf in the main O
Sand target
Main Hole
o A side-track will then be drilled to intersect and further
evaluate the discovered gas sands in the Anchois field, with a
current 2C Contingent Resource estimate of 637 Bcf, in the eastern
part of the main fault block of the field. The deeper Anchois North
Flank prospect will then be drilled, which has additional 2U
Prospective Resource estimate of 213 Bcf and which will also
de-risk the nearby Anchois South Flank prospect with a 2U
Prospective Resource estimate of 372 Bcf
Flow Test
o Well
flow testing will then be performed on selected encountered gas
sands to evaluate reservoir and well productivity
Future Production
Well
o The
well will be suspended to enable it to be used as a potential
future producer
Adonis Pouroulis, CEO of Chariot, commented:
"We are very pleased to commence this highly anticipated well
at the Anchois gas field. We see significant upside potential and
value from the prospective resources in the pilot hole and main
hole targets which could increase the resource base to over 1Tcf
and we look forward, on success, to moving towards a Final
Investment Decision as quickly as possible. I'd like to thank the
team for all their hard work across the planning, logistics and
well design requirements to date and we look forward to providing
further updates as we progress through the operational phases of
this campaign."
Contingent (2C) and Prospective (2U)
Resources noted above are as independently estimated by NSAI in
2022.
Enquiries
|
Chariot Limited
Adonis Pouroulis, CEO
Julian Maurice-Williams,
CFO
|
+44 (0)20 7318 0450
|
|
Cavendish Capital Markets Limited (Nomad and Joint Broker)
Derrick Lee, Adam Rae
|
+44 (0)131
220 9778
|
|
Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart, Ashton
Clanfield
|
+44 (0) 20 7710 7760
|
|
Celicourt Communications (Financial PR)
Mark Antelme, Jimmy Lea
|
+44 (0) 20
7770 6424
|
NOTES FOR EDITORS:
About Chariot
Chariot is an Africa focused
transitional energy group with three business streams, Transitional
Gas, Transitional Power and Green Hydrogen.
Chariot Transitional Gas is focused
on high value, low risk gas development projects in Morocco, a
fast-growing emerging economy, with a clear route to early
monetisation, delivery of free cashflow and material exploration
upside.
Chariot Transitional Power is
focused on providing competitive, sustainable and reliable energy
and water solutions across the continent through building,
generating and trading renewable power.
Chariot Green Hydrogen is partnering
with TEH2 (80% owned by TotalEnergies, 20% by the EREN Group) and
the Government of Mauritania on the potential development of a 10GW
green hydrogen project, Project Nour in Mauritania, and are
progressing pilot projects in Morocco.
The ordinary shares of Chariot
Limited are admitted to trading on the AIM under the symbol
'CHAR'.
https://chariotenergygroup.com