Chariot O&G Touts 13.2B Barrels Offshore Namibia

Chariot O&G estimates its Southern License 2714A, offshore Namibia, holds an additional 3.1 billion barrels of gross unrisked mean prospective resources. New technical studies of the 3D seismic data acquired across the block found additional resources within a single 'mega-structure'. Chances of success on this primary prospect have increased from 16% to 20%, and Chariot’s gross mean unrisked prospective resource volume now totals 13.2 billion barrels.

The technical work, including remapping and seismic attribute analysis, has also identified a prospect and lead inventory of 11 prospects and six leads. The mega-structure in the Southern acreage, which lies wholly within the 3D seismic area, displays seismic attributes, including AVO anomalies, indicative of a hydrocarbon charge in what is thought to be a Lower Cretaceous deltaic sandstone reservoir. The robust geological interpretation (sealed reservoir within a large structural closure surrounded by a mapped potential charge kitchen) suggests the AVO anomaly is valid, stated Chariot.

The company continues to evaluate other plays in the block, particularly deeper Barremian targets, equivalent to the reservoir level of the Kudo field. The Southern license is located in the Orange Basin in waters measuring 328 to 4,921 feet (100 to 1,500 meters). Chariot holds a 50% interest in the block, and Petrobras holds the remaining interest.

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