29th Apr 2014 12:08
LONDON (Alliance News) - Chariot Oil & Gas Ltd Tuesday said it has completed a 1,700 kilometre squared 3D seismic survey across its areas of interest offshore Morocco.
The Atlantic Margins-focused oil and gas exploration company said the survey, which encompasses its Rabat Deep, Loukos Offshore and Mohammedia Reconnaissance sites, will help provide data for the company to drill prospects in the region.
The company said that following processing of the seismic data, Chariot will interpret this new information, which is expected to be completed by year end 2014, with a resource update to be published thereafter.
Last month, Chariot Oil & Gas said it had been awarded a 75% interest and operatorship of the Mohammedia Reconnaissance licence offshore Morocco in partnership with the Office National des Hydrocarbures et des Mines, which holds a 25% carried interest.
The licence area is adjacent to the company's Loukos and Rabat Deep licences and sits in the near shore.
Chariot Oil & Gas shares were trading flat at 20.75 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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