Chariot Oil & Gas Limited: Operational Update - Central Blocks, Namibia
Tuesday 5 June 2018
Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, has secured the Ocean Rig Poseidon, a sixth generation deepwater drillship to drill one firm and one optional well. Chariot, the operator of the Central Blocks licence offshore Namibia (Chariot 65%, AziNam 20%, NAMCOR 10% and Ignitus 5%) currently anticipates that the drillship will arrive on location in Q4 2018 and that the drilling of Prospect S will commence shortly thereafter.
Prospect S, independently estimated as a gross mean prospective resource of 459mmbbls and a probability of geologic success of 29% by Netherland Sewell Associated Inc., is one of five dip-closed structural traps, totalling 1,758mmbbls gross mean prospective resources, that have been identified in the Upper Cretaceous turbidite clastic play fairway. A further two higher risk-reward stratigraphic traps, totalling 885mmbbls gross mean prospective resources, could be de-risked through the calibration of the 6,100 km2 of proprietary 3D seismic data on the Central Blocks with the result of the Prospect S well.