Business
Update on Namibia Blocks 2312 and 2412A
Update on Namibia Blocks 2312 and 2412A.
About this update from Chariot Limited
[{"type":"text","content":"\n \nRNS Number : 0420H Chariot Oil & Gas Ld 05 June 2017 \n\n \n5 June 2017\n \nChariot Oil & Gas Limited\n(\"Chariot\", the \"Company\" or the \"Group\")\nUpdate on Namibian Blocks 2312 & 2412A\n \nChariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, today provides an update on its Namibian Blocks 2312 & 2412A:\n \n- Competent Person's Report (\"CPR\") completed on Blocks 2312 & 2412A (the \"Central Blocks\") offshore Namibia based on the 2016 3D seismic programme identifying five structural prospects each ranging 283 - 459mmbbls gross mean prospective resources.\n \n- Preparation for drilling in the Central Blocks has been initiated through the commissioning of an Environmental Impact Assessment (\"EIA\") for the drilling of certain prospects identified in the CPR.\n \nCentral Blocks - CPR\nChariot, in conjunction with its partners AziNam (20%), NAMCOR (10%) and Ignitus (5%), completed acquisition of a 3D seismic survey of approximately 2,600 km2 in February 2016 targeting leads identified in the north-western area of the Central Blocks from approximately 1,700 km of 2D seismic data acquired by the partnership in 2015. The 2016 3D survey has been processed in conjunction with 3,500 km2 of legacy 3D seismic with both depth migration and inversion products calibrated using the nearby Wingat-1 and Murombe-1 wells.\nFollowing an extensive evaluation of the combined 6,100 km2 3D seismic dataset, Chariot has identified five new structural prospects. These dip-closed prospects target the same good quality Upper Cretaceous deepwater turbidite reservoirs as penetrated in the Murombe-1 well and are modelled to have received hydrocarbon charge from the proven, excellent quality Aptian marine source rocks identified in both the Wingat-1 and Murombe-1 wells. These five new prospects add to the portfolio of principally stratigraphic prospects and leads described from the legacy 3D seismic data.\nThese five structural prospects have been independently audited by Netherland Sewell and Associates (\"NSAI\") who estimate gross mean prospective resources for each prospect ranging 283 - 459mmbbls. Each of these prospects has 2 or more targets and NSAI report the Probability of Geologic Success as ...