Chariot Announces Significant Resource Upgrade in Morocco 

Chariot Announces Significant Resource Upgrade in Morocco 

Chariot Oil & Gas Limited, the Atlantic margins focused energy company, has announced a 148% upgrade of audited total remaining recoverable resource to in excess of 1 trillion cubic feet (tcf) for Anchois, located in the Moroccan Lixus Offshore license, according to a press release

After carrying out reprocessing 3D seismic data across Lixus, there has been a significant improvement in both image quality and in depth control. This has led to a greater understanding of the distribution and extent of the Anchois gas sands.

Adonis Pouroulis, Acting CEO, commented, “The recent work on the Lixus Licence confirms the materiality of the Anchois Gas Field Development project. We continue to hold the view that this asset has the capacity to be a value accretive and long-term project of national significance to Morocco.”

The 1 tcf of remaining recoverable resources comprise 361 billion cubic feet (bcf) 2C contingent resources and 690 bcf 2U prospective resources.

It was also found that there are low-risk prospective targets to be drilled at low cost as part of any appraisal or development drilling activity on the Anchois Discovery.

In the wake of this discovery, Chariot will hold a detailed audio webcast for investors on September 8.


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