Chariot provides post-well analysis on gas discovery in Morocco

Chariot 31 MaerchAIM-listed Chariot, the Africa-focused transitional energy company, has provided an update on the post-well analysis of the successful Anchois-2 gas appraisal and exploration well, completed in January 2022, on the Anchois gas project within the Lixus licence, offshore Morocco

Chariot has a 75% interest and operatorship of Lixus in partnership with the Office National des Hydrocarbures et des Mines (ONHYM) which holds a 25% interest.

The net gas pay estimates for Anchois-2 well, based on further interpretation of the well data, have been upgraded to approximately 150m from the previously announced preliminary analysis of greater than 100m, compared to the 55m in the original Anchois-1 discovery well.

Highly consistent gas composition potentially allows all gas produced from the different reservoirs to be processed through a single gas processing facility, enabling a simple development. Further analysis is ongoing on the well data to understand the positive implications on gas resources, and scale and economics of the development

Adonis Pouroulis, acting CEO of Chariot, commented, “This increase combined with the confirmation of excellent quality dry gas consistently across all the discovered gas reservoirs is extremely encouraging, as it will help enable a simple and standard development.”

“Our ambition is to bring the Anchois gas development online quickly, to fuel Morocco’s economic growth, but also to deliver near-term cash flows to our shareholders. We will continue to work on an accelerated field development plan, for the benefit of all stakeholders,” Pouroulis added.

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