African focused transitional energy company Chariot Limited has announced the results of Independent Assessments on its gas resources offshore Morocco, incorporating the results of the recent successfully drilled Anchois-2 appraisal and exploration well. The Independent Assessments have been made by Netherland Sewell & Associates on the Anchois Gas Field and further selected exploration prospects in the Lixus Offshore licence and the adjacent Rissana Offshore licence with material resource upgrades reported across the portfolio.These resource upgrades underpinCompany's decision to fast-track its field development plans;The associated exploration programmes to deliver further growth from the portfolioChariot's focus on developing a significant energy resource, prioritising the growing demand within Morocco's domestic market, and potentially supplying surplus gas to EuropeAnchois Gas Field:82% increase in 1C contingent resources from 201 Bcf to 365 Bcf76% increase in 2C contingent resources from 361 Bcf to 637 Bcf49% increase in 2U prospective resources to 754 Bcf in three undrilled targets with an improvement in the probability of geological success, now ranging from 49 to 61 %Total remaining recoverable resource at Anchois (2C plus 2U) now stands at 1.4 TcfAdditional Lixus Prospects:Updated assessments on two key undrilled prospects (Maquereau, and Anchois West) with improvements in both prospective resource potential and probability of geological success and the newly identified Anguille prospect, which are all part of the same tertiary gas play as the Anchois gas fieldCombined, 2U prospective resources of 838 Bcf with an estimated probability of geological success ranging from 30-52%, with closely related additional targets in the areas surrounding the prospectsThe total remaining recoverable resources (2C plus 2U, comprising audited and internal Chariot estimates) in the entire Lixus portfolio stands at approximately 4.6 TcfRissana Offshore:Early assessment of the areas covered by 3D seismic, provides a total 2U prospective resource of over 7 Tcf, combining a high-graded prospect 'Emissole' within the lower risk Anchois tertiary gas play and multi Tcf prospects in a higher-risk Mesozoic play, inherited from Chariot's legacy Mohammedia Offshore licence area.Chariot through its wholly owned subsidiary, Chariot Oil & Gas Holdings (Morocco) Limited, has a 75% interest and operatorship of Lixus, in partnership with the Office National des Hydrocarbures et des Mines which holds a 25% interest.The Lixus licence covers an area of approximately 1,794km2, with water depths ranging from the coastline to 850m. The area has been subject to earlier exploration with legacy 3D seismic data covering approximately 1,425km2 on-block and four exploration wells, including the Anchois-1 gas discovery which was drilled in 2009. In Q1 2022, Chariot announced that it had successfully drilled an appraisal and exploration well, Anchois-2 which encountered approximately 150m of net gas pay and confirmed excellent quality gas.To fast track the development of the Anchois gas field Chariot recently awarded the Front-End Engineering and Design Contract to a consortium of world leading developers of offshore gas projects with Societe Generale appointed to lead the debt financing.
African focused transitional energy company Chariot Limited has announced the results of Independent Assessments on its gas resources offshore Morocco, incorporating the results of the recent successfully drilled Anchois-2 appraisal and exploration well. The Independent Assessments have been made by Netherland Sewell & Associates on the Anchois Gas Field and further selected exploration prospects in the Lixus Offshore licence and the adjacent Rissana Offshore licence with material resource upgrades reported across the portfolio.These resource upgrades underpinCompany's decision to fast-track its field development plans;The associated exploration programmes to deliver further growth from the portfolioChariot's focus on developing a significant energy resource, prioritising the growing demand within Morocco's domestic market, and potentially supplying surplus gas to EuropeAnchois Gas Field:82% increase in 1C contingent resources from 201 Bcf to 365 Bcf76% increase in 2C contingent resources from 361 Bcf to 637 Bcf49% increase in 2U prospective resources to 754 Bcf in three undrilled targets with an improvement in the probability of geological success, now ranging from 49 to 61 %Total remaining recoverable resource at Anchois (2C plus 2U) now stands at 1.4 TcfAdditional Lixus Prospects:Updated assessments on two key undrilled prospects (Maquereau, and Anchois West) with improvements in both prospective resource potential and probability of geological success and the newly identified Anguille prospect, which are all part of the same tertiary gas play as the Anchois gas fieldCombined, 2U prospective resources of 838 Bcf with an estimated probability of geological success ranging from 30-52%, with closely related additional targets in the areas surrounding the prospectsThe total remaining recoverable resources (2C plus 2U, comprising audited and internal Chariot estimates) in the entire Lixus portfolio stands at approximately 4.6 TcfRissana Offshore:Early assessment of the areas covered by 3D seismic, provides a total 2U prospective resource of over 7 Tcf, combining a high-graded prospect 'Emissole' within the lower risk Anchois tertiary gas play and multi Tcf prospects in a higher-risk Mesozoic play, inherited from Chariot's legacy Mohammedia Offshore licence area.Chariot through its wholly owned subsidiary, Chariot Oil & Gas Holdings (Morocco) Limited, has a 75% interest and operatorship of Lixus, in partnership with the Office National des Hydrocarbures et des Mines which holds a 25% interest.The Lixus licence covers an area of approximately 1,794km2, with water depths ranging from the coastline to 850m. The area has been subject to earlier exploration with legacy 3D seismic data covering approximately 1,425km2 on-block and four exploration wells, including the Anchois-1 gas discovery which was drilled in 2009. In Q1 2022, Chariot announced that it had successfully drilled an appraisal and exploration well, Anchois-2 which encountered approximately 150m of net gas pay and confirmed excellent quality gas.To fast track the development of the Anchois gas field Chariot recently awarded the Front-End Engineering and Design Contract to a consortium of world leading developers of offshore gas projects with Societe Generale appointed to lead the debt financing.
