Chariot has announced another material upgrade to its Lixus block gas resource, offshore Morocco, following reprocessing of historic 3D seismic across the licence, which has dramatically improved image quality. An independent assessment of just the Anchois discovery has upgraded resource estimates by almost 150%, pushing our risked-NAV from 22p to 28p/sh. This can only improve the appeal of this high-value gas asset to potential partners. With the shares trading below end-2019 cash, Chariot o
07 Sep 2020
Chariot Oil & Gas - Anchois resource upgrade enhances farm-out appeal
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Chariot Oil & Gas - Anchois resource upgrade enhances farm-out appeal
Chariot Limited (CHAR:LON) | 8.5 0 (-3.0%) | Mkt Cap: 90.8m
- Published:
07 Sep 2020 -
Author:
Jonathan Wright -
Pages:
6
Chariot has announced another material upgrade to its Lixus block gas resource, offshore Morocco, following reprocessing of historic 3D seismic across the licence, which has dramatically improved image quality. An independent assessment of just the Anchois discovery has upgraded resource estimates by almost 150%, pushing our risked-NAV from 22p to 28p/sh. This can only improve the appeal of this high-value gas asset to potential partners. With the shares trading below end-2019 cash, Chariot o