Chariot successfully completes Anchois well programme

Chariot Ltd (AIM:CHAR, OTC:OIGLF) has now completed its drilling operations at the Anchois field, after making a significant new discovery – with over 100 metres of net pay suspended in the Anchois-2 well for future production.

The company, in a statement, noted that it had also coupled the rig to the Anchois-1 well – drilled originally in 2009 – to confirm its viability as a future producer.

Extensive data has been captured through the programme and twelve gas samples have been taken for further analysis in the lab.

“Our ambition is to bring the Anchois gas development online as quickly as possible, to fuel Morocco’s economic growth, but also to deliver near-term cash flows to the company,” said chief executive Adonis Pouroulis.

“We will now look to conduct further analysis on our findings, to optimise our development plan for the field, with both wells earmarked to become potential production wells, as part of an accelerated field development plan for the benefit of all stakeholders.”

Pouroulis added: As a team, we are very excited about these positive results and the commercial potential of the expanded Anchois field along with the material upsides in the wider Lixus licence area and we will look to update the market in more detail on the findings of our further analysis in due course.”

Story by ProactiveInvestors