Chariot Limited Drilling Rig Contract Award (8997K)
07 Septiembre 2021 - 1:00AM
UK Regulatory
TIDMCHAR
RNS Number : 8997K
Chariot Limited
07 September 2021
7 September 2021
Chariot Limited
("Chariot", the "Company")
Drilling Rig Contract Award
Moroccan gas appraisal well planned for December 2021
Chariot (AIM: CHAR), the Africa focused transitional energy
company, is pleased to announce that it has signed a contract with
Stena Drilling, one of the world's foremost independent drilling
contractors, to use its Stena Don drilling rig for the planned
Anchois gas appraisal well within the Lixus licence, offshore
Morocco.
-- Drilling operations anticipated to commence in December 2021 and are expected to take up to approximately 40 days.
-- Stena Don is a semi-submersible rig, suitable for drilling,
completion, and workover operations. Further information can be
found at https://www.stena-drilling.com/our-fleet/stena-don/
-- Appraisal drilling objectives:
o Unlock the development of the discovered sands by confirming
the gas resource volumes, reservoir quality and well
productivity.
o Provide a future production well for the development of the
field.
o Potentially deepen the well into additional low-risk
prospective sands with the aim of establishing a larger resource
base for longer term growth.
Adonis Pouroulis, Acting CEO of Chariot, commented:
"The signing of this contract is an important moment in our
planned drilling campaign for the Lixus Licence, offshore Morocco.
We anticipate drilling commencing in December, with the well
expected to take up to 40 days to drill. As a team, we have been
keenly focused on delivering the drilling campaign that we recently
raised money for, and we are pleased that this contract award
brings us a step closer to achieving this. We look forward to
keeping our stakeholders appraised we get closer to the spud
date."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014, as retained in the UK
pursuant to S3 of the European Union (Withdrawal) Act 2018.
For further information please contact:
Chariot Limited
Adonis Pouroulis, Acting CEO
Julian Maurice-Williams, CFO +44 (0)20 7318 0450
finnCap (Nominated Adviser and Joint Broker)
Christopher Raggett, Simon Hicks, Edward
Whiley +44 (0)20 7220 0500
Peel Hunt (Joint Broker)
Richard Crichton, David McKeown +44 (0)20 7418 8900
Celicourt Communications (Financial PR)
Mark Antelme, Jimmy Lea +44 (0)20 8434 2754
NOTES FOR EDITORS:
About Chariot
Chariot is an African focused transitional energy group with two
business streams, Transitional Gas and Power.
Chariot Transitional Gas is a high value, low risk gas
development project with strong ESG credentials in a fast-growing
emerging economy with a clear route to early monetisation, delivery
of free cashflow and material exploration upside. Chariot
Transitional Power, looking to transform the energy market for
mining operations in Africa, providing a giant largely untapped
market with cleaner, sustainable, and more reliable power.
The ordinary shares of Chariot Limited are admitted to trading
on the AIM under the symbol 'CHAR'.
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