Chariot Limited Significant Gas Discovery at Anchois-2 Well
Monday 10 January 2022
Chariot (AIM: CHAR), the Africa focused transitional energy company, is pleased to announce the result of the Anchois-2 appraisal and exploration well on the Anchois gas project within the Lixus licence (“Lixus”), offshore Morocco. Chariot has a 75% interest and operatorship of Lixus in partnership with the Office National des Hydrocarbures et des Mines ("ONHYM") which holds a 25% interest.
• Anchois-2 well has been safely and efficiently drilled to a total measured depth of 2,512m by the Stena Don drilling rig in 381m of water.
• Comprehensive evaluation of the well has been undertaken through wireline logging, including petrophysical evaluation, subsurface formation testing including reservoir pressures and gas sampling, sidewall cores and well bore seismic profiles.
• Preliminary interpretation of the data confirms the presence of significant gas accumulations in the appraisal and exploration objectives of the Anchois-2 well with a calculated net gas pay totalling more than 100m, compared to 55m in the original Anchois-1 discovery well.
Appraisal Target
Gas Sand B has a calculated total net gas pay of more than 50m in two stacked reservoirs of similar thickness. The upper reservoir is a continuation of a reservoir drilled in the original discovery well, Anchois-1, with the lower reservoir being newly identified.
Exploration Targets
Gas Sands C, M & O were successfully encountered with multiple gas-bearing intervals across a gross interval of 250m measured distance with no water-bearing reservoirs identified, materially exceeding pre-drill expectations.
• Previously discovered Gas Sand A was not targeted in the Anchois-2 well, due to the intention of evaluating it in the subsequent Anchois-1 re-entry operations, however, the Anchois-2 well encountered gas bearing sands at this level providing important additional subsurface data.
• High quality reservoirs were encountered in all gas sands.
• Further analysis will be undertaken to fully understand the positive implications on:
o Gas resources within the expanded Anchois field and the scale of the potential gas development.
o De-risking of numerous additional material exploration prospects within the Lixu licence area with similar seismic attributes to the Anchois discovery now considered to be low risk.
• The well will now be suspended for potential future re-entry and completion as a production well in the development of the field.
• The Stena Don rig will then move to the Anchois-1 gas discovery well to perform re-entry operations with the objectives of assessing the integrity of the previously drilled well, and if successful, providing a future potential production well for the development of the field.