2 May 2024
Chariot
Limited
("Chariot", the "Company")
Commencement of Drilling Operations Onshore Morocco
Chariot Limited (AIM: CHAR),
the Africa focused transitional energy group, is pleased
to announce that drilling operations have commenced at the Loukos
Onshore licence ("Loukos") onshore Morocco (Chariot, Operator 75%,
ONHYM, 25%) with the spud of the RZK-1 well on the Gaufrette
prospect.
· Gaufrette Main target has Best Estimate recoverable
prospective resources of 10 Bcf
· Option
to penetrate a deeper target identified on newly reprocessed 3D
seismic data
· Strong
read through for other geologically linked prospects in the
Gaufrette area with success potentially unlocking combined Best
Estimate recoverable prospective resources of 26 Bcf
· Results will be announced on completion of drilling
Duncan Wallace, Technical Director of Chariot
commented:
"We are very pleased to commence this onshore campaign,
kicking off the first of our exciting drilling operations for
Chariot this year. We also continue to work up the prospectivity
across this acreage as we see significant upside both in the
vicinity of our high graded well locations and beyond. I would like
to thank our operational team for their hard work and efforts in
getting this drilling underway within ten months of licence award
and ONHYM for their ongoing support and partnership. We look
forward to providing an update on the results in due
course."
Enquiries
|
Chariot Limited
Adonis Pouroulis, CEO
Julian Maurice-Williams,
CFO
|
+44 (0)20 7318 0450
|
|
Cavendish Capital Markets Limited (Nomad and Joint Broker)
Derrick Lee, Adam Rae
|
+44 (0)131
220 9778
|
|
Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart, Ashton
Clanfield
|
+44 (0) 20 7710 7760
|
|
Celicourt Communications (Financial PR)
Mark Antelme, Jimmy Lea
|
+44 (0) 20
7770 6424
|
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
