Chariot O&G Boosts Prospective Resources by 36% Offshore Namibia
|Chariot O&G Ltd.
|Friday, February 25, 2011
Chariot O&G announced a resource increase in its Northern license, offshore Namibia. The company raised its un-risked mean prospective resources by a further 700 million barrels from 1.940 to 2.631 billion barrels, up 36%. This increase, resulting from continued technical work undertaken on the 3D seismic data acquired across these blocks, has led to a significant improvement in the chance of success. In total, Chariot’s prospective volume amounts to 13.9 billion bbls.
Chariot stated that concurrent to the work which identified the Nimrod prospect, a mega structure located in Block 2714A with a prospective resource potential of 3.7 billion barrels, it has continued to evaluate a number of other plays across its Northern and Southern license areas. So far, seismic data analysis across blocks 1811 A&B in the northern license areas has identified additional Late Cretaceous/Palaeogene fan systems exhibiting anomalies consistent with hydrocarbon-filled sands. Additionally, this work has further de-risked the Tapir and Tapir N prospects with the chance of success increasing from 14 to 23%. The company will now perform similar work in its Southern licenses.
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