that's 10 times our Market Cap, it is indeed a GIANT Natural Gas discovery!! I understand they've already drilled threw the primary targets where they've expected the 2 bn bbl of oil but instead have discovered Natural Gas in much bigger than expected reservoirs:
"Andrew G. Inglis, chairman and chief executive officer, said: “VOLUMETRICALLY, the Tortue-1 well has FAR EXCEEDED our pre-drill expectations and has discovered a large scale gas resource. Our seismic imaging indicates the areal extent of Tortue West could cover approximately 90 square kilometres that will be better defined with appraisal drilling."
Chevron farmed into Kosmos' Blocks shortly before spud in of the Tortue prospect, Chariot's Mauritania prospects are Drill Ready, Rig Rates are low, just Need one more Deal!
Well I think we have more chance of a takeover than Larry fast following towards an actual drill. However the Maurtania and Senegal discoveries will definitely help put a value on the acreage that the market will soon wake up to. If however they manage a tier 2 in Mauritania then this will start trending upwards towards a spudding and a very different game will be in place. Fingers crossed for Kosmos to also find significant oil in addition to significant gas.
Even more interesting is If pura vida pull it off in Morocco then Chariot will become a really hot target for obvious reasons ...two countries - 4 licenses that will be in demand...
I'm more concerned with then fleshing out this statement "Chariot is well positioned to use its expertise and balance sheet to capitalise on opportunities that become available as a result of the recent decline in the oil price." OR IS IT MORE BULL CARP
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