Rig secured for Nimrod prospect offshore Namibia

Offshore staff

LONDONChariot Oil & Gas (AIM:CHAR) has lined up the drillship Ocean Rig Poseidon to drill its second exploration well off Namibia.

The Poseidon is scheduled to arrive in the Orange basin in July and will drill the Kabeljou (2714/6-1) well on the Nimrod prospect in southern block 2714A. Chariot has a 25% equity interest.

The location is 77 km (48 mi) offshore in 360 m (1,181 ft) water depth with an estimated total drilling depth of 3,100 m (10,170 ft) TVD subsea. Drilling should last about two months.

This is the second of Chariot’s planned four- or five-well program offshore Namibia. The company is processing 3D seismic acquired from a recent survey over its offshore Central blocks.

Detailed analysis will start soon on samples from Chariot’s unsuccessful first well on the Tapir South structure. Following evaluation of this and Kabeljou, the company will be more prepared to determine its next wells in 2013.

5/23/2012

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