BP Acquires Further 20% of Namibian Offshore Block

Chariot Oil & Gas confirmed Friday that its partners in Southern Block 2714A, offshore Namibia, have completed a transaction that has BP acquiring a further 20-percent equity interest in the block.

The ownership of Block 2714A now stands at Petrobras (the operator) with 30 percent, BP with 45 percent and Enigma Oil & Gas (Chariot's wholly-owned subsidiary) remaining at 25 percent.
Chariot added that the change in equity ownership does not affect the current program for Licence 20, which contains the drill-ready prospect Nimrod. As announced previously, the firm said, the partnership plans to drill exploration well Kabeljou-1 on the high-impact Nimrod prospect in the second half of 2012.
"We are pleased to note BP's increased equity holding in Licence 20 and continue to look forward to the drilling of Kabeljou-1 in the second half of this year," said Chariot CEO Paul Welch.
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