Last checked at 7 Jun 2013 07:00
07 June 2013
Chariot Oil & Gas Limited
("Chariot", the "Company" or the "Group")
Licence Extension awarded to partnership in Southern Block 2714A, Namibia
Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic Margins focused oil and gas exploration company, confirms that the Ministry of Mines and Energy, Namibia has approved a one year extension to the First Renewal Period for Block 2714A, held in partnership with Petrobras Oil & Gas B.V.(30%) (Operator), BP (45%) and Chariot's wholly owned subsidiary Enigma Oil and Gas (PTY) Ltd. (25%). The extension period will commence on 31 August 2013.
The extension of this First Renewal Phase will allow the partnership to complete its analysis of the drilling results of the Kabeljou-1 exploration well in order to progress the description of the rest of the prospectivity in the licence, allowing the partnership to take an informed decision on its forward plan for the block and its commitments for the next phase of development. The extension will also enable Chariot to evaluate and incorporate results from a third party well that is anticipated to take place in close proximity in Q3 2013.
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For further information please contact:
Chariot Oil & Gas Limited | +44 (0)20 7318 0450 |
Larry Bottomley, CEO | |
RBC Capital Markets (Joint Broker and NOMAD) Martin Eales, Pierre Schreuder
Jefferies International Limited (Joint Broker) Chris Zeal, Jamie Buckland
| +44 (0)20 7653 4000
+44 (0)20 7029 8000
|
FTI Consulting Ben Brewerton, Natalia Erikssen | +44 (0)20 7831 3113
|
NOTES TO EDITORS
About Chariot
Chariot Oil & Gas Limited is an independent oil and gas exploration group. The Group currently holds four licences in the shallow water offshore Brazil, licences covering eight blocks in Namibia, through its wholly owned subsidiary Enigma Oil & Gas Exploration (Pty) Limited, one block in Mauritania through its wholly owned subsidiary Chariot Oil & Gas Investments (Mauritania) Ltd. and three blocks in Morocco through its wholly owned subsidiary Chariot Oil & Gas Investments (Morocco) Ltd. all of which are offshore. All of these blocks are currently in the exploration phase.
The ordinary shares of Chariot Oil & Gas Limited are admitted to trading on the AIM Market of the London Stock Exchange under the symbol 'CHAR'.
The contents of the Company's website are not incorporated into, nor do they form part of, this announcement.