Chariot excels - Morocco well pleased.18 Jan 2022 07:51
Gas shares should do well today. Just proves what's out there.
Adonis Pouroulis, Acting CEO of Chariot, commented:
"I am pleased to announce the completion of our very successful Anchois gas appraisal and exploration campaign, offshore Morocco. In addition to having now two confirmed gas discovery wells, we have directly de-risked a material portfolio of prospects on the Lixus licence area.
Our ambition is to bring the Anchois gas development online as quickly as possible, to fuel Morocco's economic growth, but also to deliver near-term cash flows to the Company. We will now look to conduct further analysis on our findings, to optimise our development plan for the field, with both wells earmarked to become potential production wells, as part of an accelerated field development plan for the benefit of all stakeholders.
I would again like to thank ONHYM, our partners on the licence and all the Moroccan authorities involved, for their invaluable support, as well as the Chariot drilling team, Stena, Halliburton and other contractors who have enabled us to conduct these drilling operations safely, efficiently and successfully.
As a team, we are very excited about these positive results and the commercial potential of the expanded Anchois field along with the material upsides in the wider Lixus licence area and we will look to update the market in more detail on the findings of our further analysis in due course."