Scandoil  

Chariot not to apply for a new exploration licence in Northern Blocks 1811 A&B, Namibia


Published Oct 24, 2014
Chariot Oil & Gas Limited

Chariot Oil & Gas Limited has opted not to apply for a new exploration licence in the Northern Blocks 1811A&B, offshore Namibia, with the current licence due to lapse on the 26 October 2014.

The Chariot team has analysed significant amounts of proprietary seismic and well data, as well as integrated information from third party drilling activity to study the possibility for long range hydrocarbon migration to the Zamba prospect.

This work, however, has not significantly de-risked the prospect and, given that a new licence would entail significant additional investment both in capital and time, management considered it too high risk to justify further near term exploration expenditure.

Whilst Chariot considers the acreage to remain prospective, this decision was made in line with the Company's focus on portfolio management and capital discipline.

Tags: Chariot Oil & Gas Limited




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml