REG - Chariot Limited - Operational Update on Anchois-3 Drilling

ChariotAnnouncement

11/09/2024 07:30

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RNS Number : 7286D  Chariot Limited  11 September 2024

 

11 September 2024

Chariot Limited

("Chariot", the "Company")

 

Operational Update on Anchois-3 Drilling Offshore Morocco

 

 

Chariot Limited (AIM: CHAR), the Africa focused transitional energy group,
provides an update regarding the Anchois-3 well currently being drilled at the
Anchois gas project in the Lixus Offshore licence, offshore Morocco (Energean
45%, Operator, Chariot 30%, ONHYM 25%).

 

Chariot confirms that operations in respect of the Anchois-3 well are ongoing.

 

·    Main Hole ("Anchois-3ST") operations are under way as per the
operational plan. Preliminary interpretation indicates the presence of gas
bearing reservoirs in the B sands, being an appraisal objective of the well
and further detailed work will be needed to understand the impact of these
results. Drilling operations continue to evaluate deeper appraisal and
exploration objectives.

 

·    The primary objective of the initial Pilot Hole was to evaluate the
upside exploration potential of reservoirs in the Anchois Footwall prospect,
which were found but are interpreted to be water bearing. This hole was
plugged and abandoned prior to sidetracking and drilling the Main Hole.

 

·    Further updates will be provided as appropriate.

 

 

Qualified Person Review

 

This release has been reviewed by Duncan Wallace, Technical Director of
Chariot, who is a petroleum geologist with over 20 years' experience in
petroleum exploration, MSc in Petroleum Geology from Imperial College, a
Fellow of the Geological Society and a member of the Geoscience Energy Society
of Great Britain. Mr Wallace has consented to the inclusion of the technical
information in this release in the form and context in which it appears.

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European
Union (Withdrawal) Act 2018.

 

 

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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