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CPR on the Anchois Discovery, Morocco
CPR on the Anchois Discovery, Morocco.
About this update from Chariot Limited
[{"type":"text","content":"\n \nRNS Number : 3958Y Chariot Oil & Gas Ld 09 May 2019 \n\n \n9 May 2019\n \nChariot Oil & Gas Limited\n(\"Chariot\", the \"Company\" or the \"Group\")\n \nCompetent Persons Report on the Anchois Discovery, Morocco\nRemaining recoverable resources upgraded to in excess of 1 Tcf of gas\n \nChariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas company, is pleased to announce the completion of the independent Competent Persons Report (\"CPR\") by Netherland Sewell & Associates Inc. (\"NSAI\") over the satellite prospects adjacent to the Anchois-1 gas discovery in the Lixus Offshore Licence (\"Lixus\"), Morocco.\n \n· Upgrade of audited total remaining recoverable resource to be in excess of 1 Tcf for Anchois and its satellite prospects (comprising 2C contingent resources and 2U prospective resources)\n \n· Anchois North confirmed as the low risk priority satellite prospect with 308 Bcf of 2U prospective resources with a probability of geological success of 43%\n \n· Further CPR on additional five prospects in Lixus licence to be completed after the 3D seismic reprocessing project\n \n \nLarry Bottomley, CEO commented:\n\"This independent third party evaluation confirms that the Anchois discovery and its nearby satellite prospects presents Chariot with an exciting and commercially attractive development opportunity. The combination of a de-risked resource base in a fast-growing energy market, with high gas prices and a need for increased supply is highly attractive to a wide range of strategic partners throughout the energy value chain. \nWe anticipate a period of sustained news flow on this exciting project going forward, which should further unlock the value of the Lixus licence, with the results of the feasibility and gas market studies expected to be announced in due course.\"\n \nFurther Information\nChariot, through its wholly owned subsidiary, Chariot Oil & Gas Holdings (Morocco) Limited, has a 75% interest and operatorship of the Lixus Offshore Licence, Morocco, in partnership with the Office National des Hydrocarbures et des Mines (\"ONHYM\") which holds a 25% carried interest. \nLixus licence covers an area of approximately 2,390km2, 30km north of Chariot's exist...