Business
H1 2017 Results
H1 2017 Results.
About this update from Chariot Limited
[{"type":"text","content":"\n \nRNS Number : 5606Q Chariot Oil & Gas Ld 13 September 2017 \n\n \n \n \n13 September 2017\n \nChariot Oil & Gas Limited\n \n(\"Chariot\", the \"Company\" or the \"Group\")\n \nH1 2017 Results\n \n \n· Approval of Eni farm-in to Rabat Deep Offshore, Morocco, securing a carried well with spud scheduled in Q1 2018.\n· Award of Kenitra Offshore Exploration Permit, Morocco in Q1 2017.\n· Seismic acquisition of 1,027km2 3D and 2,254km 2D over Mohammedia and Kenitra, Morocco.\n· Commenced preparations for drilling in both Namibia and Morocco.\n· Elected not to enter the next phase of exploration in the Southern Blocks, Namibia and secured a 10% equity back-in option for no financial consideration.\n· US$21.7 million in cash as at 30 June 2017, no debt, minimal remaining licence commitments.\n \n \nChariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, today announces its unaudited interim results for the six-month period ended 30 June 2017.\n \nHighlights during and post-period:\n \nPartnering & Drilling\n \n· Approval of the farm-out to Eni in Rabat Deep Offshore, Morocco - operatorship now transferred and a carried well (RD-1) secured: spud scheduled for Q1 2018 with the Saipem 12000 ultra-deepwater drilling rig.\n· Drilling preparations initiated and datarooms for potential partners open in Central Blocks, Namibia and in Mohammedia and Kenitra, Morocco.\n· David Brecknock, a highly experienced drilling manager, is joining the management team to oversee the drilling programme. \n \nPortfolio Management\n \n· Award of Kenitra Offshore Exploration Permit, Morocco in February 2017 - capturing the LKP prospects that extend from Mohammedia into this area and the Kenitra-A lead, all of which have the potential to be significantly de-risked by the drilling of the RD-1 well.\n· Acquisition of 1,027km2 3D and 2,254km 2D seismic over Mohammedia and Kenitra, Morocco in H...