Namibia prospects seeks suitors

Offshore staff

LONDON -- Chariot Oil and Gas has upgraded its estimate of prospective resources on its licenses offshore Namibia to 13.9 Bbbl.

This follows the recent definition of the Nimrod prospect in block 2714A, and identification of 700 MMbbl of additional potential in the Tapir area of the Northern blocks.

These recent resource upgrades and subsequent de-risking followed extensive in-house technical studies.

Chariot continues discussions with numerous multiple potential farm-in partners, and says its data rooms have been inspected by major international oil companies.

The company hopes to clinch a farm-out agreement by the end of this month.

03/03/2011



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