14th Oct 2013 10:34
LONDON (Alliance News) - Chariot Oil & Gas Ltd said Monday that its farm-out agreement on the C19 offshore Mauritania block with Capricorn Mauritania Limited had been approved by the Ministry of Hydrocarbons in Mauritania.
Under the agreement, Cairn, which owns Capricorn Mauritania, agreed to pay around USD26 million for the costs of 3D seismic data acquired by Chariot. Chariot now holds a 55% interest and operator-ship in block.
Shares in Chariot Oil & Gas were trading down 1.4% at 18.98 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Chariot