Chariot Opens Data Rooms for Assets
London-listed Chariot Oil & Gas has opened data rooms for its offshore assets in Brazil and Morocco, in the hope of attracting partners to drive forward development.
The company is offering potential suitors a “refined giant prospect portfolio” after completing integrated analysis of its drilling operations last year, it said in its interim results on September 25.
CEO Larry Bottomley said its data rooms had already drawn “significant interest”, adding the company was confident of delivering on its near-term goals in Morocco. Chariot is seeking partners to help start development next year at the Anchois gas discovery, which it aims to bring on stream in 2023. The launch will help generate cash to fund Chariot’s future exploration work.
Chariot received a boost off Morocco last week, after an independent appraisal added an extra 1tn ft3 of prospective gas to its resource estimate for the Lixus licence containing Anchois.
Chariot is also providing data at its shallow-water Prospect 1 off the coast of Brazil, where it wants to drill an exploration well targeting 911mn barrels of prospective liquids. Off Namibia, the company wants to bring on board partners at its B, V and W oil prospects, after encouraging well results at Prospect S late last year.
Chariot said its intention across its portfolio was to “attract industry partners to drill our giant potential exploration prospects, with the aim of delivering transformative value.”