19th Feb 2016 15:00
LONDON (Alliance News) - Chariot Oil & Gas Ltd Friday said it has completed the 3D seismic survey over two blocks offshore Namibia.
Chariot said the survey, conducted over blocks 2312 and 2412A, was conducted in conjunction with its partners, AziNam, NAMCOR and Ignitus. The survey comprised of around 2,600 square kilometres of data and was conducted by PGS Exploration (UK) Ltd.
"This survey targeted several significant leads within the Upper Cretaceous deep water clastic turbidite system and the data will now be processed and then interpreted in-house," said Chariot.
Chariot holds a 65% stake in the blocks, with AziNam holding a 20% stake, NAMCOR with a 10% stake and Ignitus holding the remaining 5% stake.
Chariot Oil shares were trading up 5% to 5.25 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Chariot