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Monday, June 10, 2013
Chariot Oil & Gas received a one-year extension to the first renewal period for Block 2714A renewed by Namibia’s Ministry of Mines and Energy beginning on August 31.
The extension allows for the partners to complete analysis of the drilling results of the Kabeljou-1 exploration well in order to progress the description of the rest of the prospectivity in the license, allowing the partnership to plan for the next phase of development. The extension will also enable Chariot to evaluate and incorporate results from a third party well that is anticipated to take place in close proximity in Q3 2013.
Partners on Block 2714A are Petrobras (operator), BP, and Chariot’s wholly owned subsidiary Enigma Oil & Gas.
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