Chariot Limited Signing of Rissana Offshore Licence, Morocco (9387C)
February 28 2022 - 2:00AM
UK Regulatory
TIDMCHAR
RNS Number : 9387C
Chariot Limited
28 February 2022
28 February 2022
Chariot Limited
("Chariot", the "Company" or the "Group")
Signing of Rissana Offshore Licence, Morocco
Capturing prospective acreage around significant gas
discovery
Chariot Limited (AIM: CHAR), the Africa focused transitional
energy company, is pleased to announce that it has been formally
awarded the Rissana Offshore Licence ("Rissana") in Morocco.
-- 75% interest and operatorship of the Rissana licence awarded
to a wholly owned subsidiary of Chariot Limited in partnership with
the Office National des Hydrocarbures et des Mines ("ONHYM") which
will hold a 25% interest.
-- Rissana (approximate area 8,489 km(2) ) surrounds the
offshore area of Chariot's existing Lixus Offshore Licence
("Lixus"), where the Company, in January 2022, announced the
conclusion of successful drilling operations at the Anchois field,
including significant new gas discoveries.
-- Provides material additional potential running room on-trend
with the Anchois gas discovery and reinstates the highest potential
areas of the former Mohammedia Offshore area into Chariot's
portfolio.
-- Initial minimum licence commitment is the acquisition of a 2D
seismic survey, which will help to evaluate the extension and
potential of these gas plays across Rissana.
Mrs Amina Benkhadra, General Director Office National des
Hydrocarbures et des Mines, commented:
"We are pleased to formally award Chariot the Rissana licence,
offshore Morocco. ONHYM and Chariot recently conducted a highly
successful drilling campaign in Morocco and we hope that we will be
able to have similar success on Rissana."
Adonis Pouroulis, Acting CEO, commented:
"We are delighted to have been formally awarded the Rissana
licence. As we demonstrated with our recent successful drilling
campaign at Anchois, this is a highly prospective basin and, along
with the Lixus Offshore Licence, the award of Rissana ensures that
we have captured the exploration upsides in this exciting play. In
parallel with the development plans on the Anchois gas field, we
aim to maximise value from the exploration upsides in what we
believe is a low risk and high value opportunity."
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
Cenkos Securities Plc (Nomad & Joint Broker)
Derrick Lee, Adam Rae +44 (0)131 220 9100
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.
Additionally in September 2021, Chariot announced its partnership
with the Government of Mauritania for the potential development of
a large-scale green hydrogen project.
The ordinary shares of Chariot Limited are admitted to trading
on the AIM under the symbol 'CHAR'.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEALAKALPAEFA
(END) Dow Jones Newswires
February 28, 2022 02:00 ET (07:00 GMT)
Chariot (AQSE:CHAR.GB)
Historical Stock Chart
From Sep 2024 to Oct 2024
Chariot (AQSE:CHAR.GB)
Historical Stock Chart
From Oct 2023 to Oct 2024