Chariot Oil & Gas Limited provides an update on its Rabat Deep, Loukos and Mohammedia permits, offshore Morocco.
Rabat Deep (Chariot (50% Operator), Woodside (25%), the Office National des Hydrocarbures et des Mines ('ONHYM') (25% carried)):
•Woodside has not exercised its option to take operatorship and fund well costs for a further 25% equity stake; it will remain a partner on the licence with a 25% working interest
•Drilling is now anticipated to be in 2016/2017, subject to securing an additional partner
Loukos and Mohammedia (Chariot (75% Operator), ONHYM (25% carried)):
•Material potential oil prospects identified in both the proven Jurassic and Neogene plays
•Dataroom to open following completion of 3D interpretation