Petroleum Africa
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Friday, June 6, 2014
Chariot Oil & Gas has done an extraordinary job over the past couple of years picking up acreage around Africa and scoping out their potential and then bringing in other partners to aid in paying to see if that potential will pay off. Carrying on in that tradition the company continues to de-risk and move towards drilling of priority prospects in Morocco, Mauritania, and Namibia in order to make an attractive package for future investors. Chariot has its work lined up over the coming months for the three countries that should definitely attract some serious partners.
In Morocco over the coming months it will interpret recently acquired 3D seismic data to define targets for drilling and identify follow-on potential within the licenses. The company is looking to determine a potential drilling location on the giant carbonate prospect identified within the Rabat Deep license in order to, subject to partnering, drill in 2015. A dataroom process has been initiated across its Moroccan acreage for potential partners.
Down the coast in Mauritania Chariot is still working hard to complete the interpretation of 3D seismic with an aim toward maturing drill ready targets, which is now anticipated for Q3 2014. Following this, the company plans to initiate a partnering process to help fund a well. Recent drilling offshore Mauritania to open up a new basin play within the region has been reported, which Chariot will use to inform its interpretation of its proprietary 3D seismic data. While some third party follow-on wells in the region have been postponed to next year, the company still expects additional wells in the near to medium term to target the slope fan, stratigraphic trap and turbidite channel plays offshore Mauritania which will provide further information prior to testing of these plays through the drill bit.
In southern Africa off the Namibian coast, Chariot’s Central blocks are drill ready and the partnering process continues. In the south Chariot is also in a process on Block 2714A and the market will be updated as this progresses. In Block 2714B, Chariot is focused on the oil prone leads identified in the shallower petroleum system and has already fulfilled all of its commitments on this license. The company is currently analyzing the recently acquired 2D data in order to identify the optimum location for a 3D seismic campaign and will open a dataroom following this evaluation in order to secure a partner for this investment phase. As previously detailed, the Northern Blocks remain drill ready and the company is awaiting third party drilling results from a well currently being drilled by Repsol, prior to deciding its forward plan for the block.
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