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Wednesday, May 22, 2013
Ahead of its AGM, Chariot Oil & Gas said that its operations in Namibia remain a priority. Larry Bottomley, chief executive of Chariot said that from the well results and additional seismic information “we have identified two petroleum systems within our acreage which have different risk profiles, allowing us to effectively screen and rank new play types and prospects of interest.”
On the Southern Licenses in Block 2714A, the operator is continuing to analyze the well results which according to Bottomley are “in line with that of Chariot’s evaluation.” Following discussions on the forward plan for the block, the partnership has submitted a request for a one-year extension on the second renewal phase, with all parties committed to the license for a further year.
On 2714B, a new play system was indentified using the data from the drilling of the Kabeljou-1 well. A 3D seismic program is expected to launch in H2 2014 and will be designed to seek to capture the value of the asset.
Bottomley went on to discuss the Central Area saying that to “ensure that the company is able to maximize the integration of information from third party drilling in the deeper petroleum system, the farm-out process will commence in Q3 2013.” He also said that the data room remained open in regards to the Northern Area and additional companies are still due to attend.
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