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Chariot Oil gets license extension of Block C-19, offshore Mauritania


Published May 4, 2015
Chariot Oil & Gas Limited-2

Chariot Oil & Gas Limited provides an update on the C-19 block offshore Mauritania.

Licence Extension Highlights: •One year extension granted within the first exploration phase •Provides time to carry out additional studies to further de-risk prospects prior to drilling

Competent Person's Report (CPR) Highlights: •Independent audit conducted by Netherland Sewell and Associates ('NSAI') affirms Chariot's evaluation of material prospective resource potential in C-19 •Four prospects ranging from single target to multi-stacked prospects •Further follow on potential with additional leads identified by Chariot within the fairway

Chariot and its partners Cairn Energy and the SociétéMauritanienne des Hydrocarbures et de Patrimoine Miner, have secured a one year extension on the current exploration phase of the C-19 licence (55% Chariot (Operator), 35% Cairn, 10% SMHPM (carried interest)). As part of the extension, the Partnership has committed to undertake seabed coring studies, which will provide further subsurface detail and serve to further de-risk this part of the portfolio.

Tags: Chariot Oil & Gas Limited




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