Source - SMW
Chariot Oil & Gas has commissioned an environmental impact assessment for the drilling of prospects on its central blocks offshore Namibia identified in a competent person's report.  

Chariot said the CPR completed on blocks 2312 & 2412A based on the 2016 3D seismic programme identified five structural prospects each ranging 283 - 459mmbbls gross mean prospective resources.

Chariot, in conjunction with its partners AziNam (20%), NAMCOR (10%) and Ignitus (5%), completed acquisition of a 3D seismic survey of approximately 2,600 sq kms in February 2016 targeting leads identified in the north-western area of the blocks from approximately 1,700 km of 2D seismic data acquired by the partnership in 2015. 

Chariot said the 2016 3D survey had been processed in conjunction with 3,500 sq kms of legacy 3D seismic with both depth migration and inversion products calibrated using the nearby Wingat-1 and Murombe-1 wells.

It said that following an extensive evaluation of the combined 6,100 sq kms 3D seismic dataset, it had  identified five new structural prospects. 

It said: "These dip-closed prospects target the same good quality Upper Cretaceous deepwater turbidite reservoirs as penetrated in the Murombe-1 well and are modelled to have received hydrocarbon charge from the proven, excellent quality Aptian marine source rocks identified in both the Wingat-1 and Murombe-1 wells. 

"These five new prospects add to the portfolio of principally stratigraphic prospects and leads described from the legacy 3D seismic data."

It said these five structural prospects had been independently audited by Netherland Sewell and Associates which  estimated gross mean prospective resources for each prospect ranging 283 - 459mmbbls

Chariot chief executive Larry Bottomley said: "The focus for Chariot is the delivery of transformational value through the discovery of material hydrocarbon accumulations. 

"The maturation of the portfolio in the Central Blocks in Namibia has uncovered a series of robust, low risk structural traps that are targeting the proven play elements demonstrated in nearby wells. 

"These prospects have the potential for material accumulations and success in one will significantly de-risk the remainder. 

"The company is pleased to have the support of our partners to progress preparing for a drilling programme on this highly prospective acreage."

At 9:33am: (LON:CHAR) Chariot Oil  Gas Ltd share price was +1.38p at 15p