REG - Chariot Limited - EIA Approval received for Loukos drilling campaign

ChariotAnnouncement

05/02/2024 07:00

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RNS Number : 9394B  Chariot Limited  05 February 2024

 

5 February 2024

 

Chariot Limited

 

("Chariot", the "Company")

 

Environmental Impact Assessment Approval received for Loukos drilling campaign

 

Site construction activities have commenced

 

Chariot Limited (AIM: CHAR), the Africa focused transitional energy group,
is pleased to report that it has received approval for its Environmental
Impact Assessment ("EIA") from the Unified Regional Investment Committee for
drilling activity on its Loukos Onshore licence ("Loukos") onshore Morocco
(Chariot, Operator 75%, ONHYM, 25%).

 

·      The EIA covers a total of 20 well operations, including:

o  Initial drilling campaign of 2 exploration wells on the Gaufrette and
Dartois prospects

o  Further 17 candidate well locations

o  Re-entry of an existing gas discovery

·      The permit is valid for a period of 5 years

·      Civil works will now commence to prepare the first well locations
and access routes

Pierre Raillard, Head of Gas Business and Morocco Country Director, commented:

 

"We are very pleased to receive approval of the environmental permit for
drilling activity on our Loukos licence. This is not only an important step
towards our initial drilling campaign but EIA approval for multiple additional
locations gives us flexibility in future campaigns. In addition to this, the
land access activities and civil work contracting have concluded, site
construction activities are now underway and we are on track for commencement
of operations around the end of Q1 2024. I would like to thank the efforts of
the Morocco operational team in the progress we have made so far as well as
the continuous support and assistance given by ONHYM."

 

 

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 a high value, low risk gas development
project offshore Morocco in 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 Total Eren and the Government of
Mauritania on the potential development of a 10GW green hydrogen project,
named Project Nour.

 

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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