REG - Chariot Limited - Commencement of Drilling Operation Onshore Morocco

ChariotAnnouncement

20/05/2024 07:00

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RNS Number : 0042P  Chariot Limited  20 May 2024

 

 

20 May 2024

 

Chariot Limited

("Chariot", the "Company")

 

Commencement of Second Drilling Operation Onshore Morocco

 

Chariot Limited (AIM: CHAR), the Africa focused transitional energy group,
is pleased to announce the spud of the OBA-1 well on the Dartois prospect in
the Loukos Onshore licence ("Loukos") onshore Morocco (Chariot, Operator 75%,
ONHYM, 25%)

 

·      Dartois target has Best Estimate recoverable prospective
resources of 12 Bcf

·      Independent prospect targeting a different trapping style to the
Gaufrette prospect drilled by the RZK-1 well

·      Success could potentially unlock a trend of prospects with
combined Best Estimate recoverable prospective resources of 20 Bcf

·      Results will be announced on completion of drilling

 

Duncan Wallace, Technical Director of Chariot commented:

 

"We are pleased to be underway with our second well in this drilling campaign,
having spud the OBA-1 well within short order of completing operations at
Gaufrette. We are now testing an independent prospect at Dartois, which is in
a different reservoir fairway and along trend from an existing gas discovery,
and we look forward to providing an update on the results in due course."

 

Enquiries

 

 Chariot Limited                                              +44 (0)20 7318 0450

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

 Cavendish Capital Markets Limited (Nomad and Joint Broker)   +44 (0)131 220 9778

 Derrick Lee, Adam Rae

 Stifel Nicolaus Europe Limited (Joint Broker)                +44 (0)20 7710 7760

 Callum Stewart, Ashton Clanfield
 Celicourt Communications (Financial PR)                      +44 (0)20 7770 6424

 Mark Antelme, Jimmy Lea

 

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 (https://chariotenergygroup.com)

 

 

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