Commencement of Drilling of Rabat Deep 1 Well

RNS Number : 6880H

Chariot Oil & Gas Ld

14 March 2018

 

 14 March 2018

Chariot Oil & Gas Limited

("Chariot", the "Company" or the "Group")

Operational Update

Commencement of Drilling of Rabat Deep 1 Well, Morocco

·      Saipem 12000 drillship has commenced the drilling of the Rabat Deep 1 well.

·      Operations are expected to take approximately 50 days and further announcements will be made as appropriate.

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, is pleased to announce that the Saipem 12000, a sixth generation ultra-deepwater drillship, has commenced drilling on the Rabat Deep Permits in Morocco (Eni Maroc B.V. 40% (operator), Woodside Energy (Morocco) Pty Ltd 25%, ONHYM 25%, Chariot Oil & Gas Investments (Morocco) Limited 10%).

Investor Conference Call:

Management of Chariot will host a conference call for investors at 11.00 am (GMT) 16 March 2018 to discuss the implications of the Rabat Deep 1 well on surrounding prospectivity. Dial in details for the call are shown below and participants should request to join the 'Chariot Oil & Gas Investor Call'.

Dial in number:                  [phone]   

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

For further information please contact: Chariot Oil & Gas Limited Larry Bottomley, CEO [phone] finnCap (Nominated Adviser and Joint Broker) Matt Goode, Christopher Raggett (Corporate Finance) Emily Morris (Corporate Broking) [phone] Celicourt Communications (Financial PR) Mark Antelme, Henry Lerwill, Jimmy Lea, [phone]

NOTES TO EDITORS

ABOUT CHARIOT

Chariot Oil & Gas Limited is an independent oil and gas exploration group. It holds licences covering two blocks in Namibia, three blocks in Morocco and four blocks in the Barreirinhas Basin offshore Brazil. 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, a market operated by the London Stock Exchange under the symbol 'CHAR'.

 

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