18th Jan 2016 08:33
LONDON (Alliance News) - Chariot Oil & Gas Ltd on Monday said it has begun a 3D seismic acquisition survey of about 2,600 square kilometres in Blocks 2312 & 2412A offshore Namibia.
The oil and gas exploration company said the programme was initiated with partners AziNam, NAMCOR and Ignitus.
The survey is being conducted by PGS Exploration (UK) Ltd and will fulfil the work commitment for the Central Blocks.
Following the analysis of its survey of approximately 1,700 line kilometres of 2D seismic data acquired on the north western flank of the licence in 2015, the company has identified several significant additional leads within the upper cretaceous deep water clastic turbidite system," Chariot said.
"Whilst there are drill ready prospects already identified in the Central Blocks, this 3D survey will enable Chariot and its partners to mature these new leads and further develop its inventory in this region, which it believes to contain giant prospectivity. The survey is expected to take approximately 40 days," Chariot added.
Shares in Chariot were down 1.3% at 5.23 pence in early trade on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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