Chariot Oil & Gas announce change of equity ownership in Licence 20, Block 2714A, offshore Namibia
- BP has acquired a further 20% equity interest in Block 2714A from Petrobras.
Chariot Oil & Gas Limited (AIM:CHAR), the Africa focused independent oil and gas exploration company, notes that its partners in Southern Block 2714A, Petrobras Oil & Gas B.V. ("Petrobras") and BP Exploration (Namibia) Limited ("BP"), have completed a transaction whereby BP has acquired a further 20% equity interest in Block 2714A from Petrobras.
Accordingly the ownership of Block 2714A now stands at Petrobras (Operator) 30%, BP 45% with Enigma Oil & Gas Exploration (Pty) Ltd. (Chariot's wholly owned subsidiary) remaining at 25%.
This change to the equity ownership does not affect the currentprogramme for Licence 20, which contains the drill ready prospect Nimrod. As announced previously, the partnership plans to drill exploration well Kabeljou-1 on the high impact Nimrod prospect in the second half of 2012.
Paul Welch, CEO of Chariot, commented:
"We are pleased to note BP's increased equity holding inLicence 20 and continue to look forward to the drilling of Kabeljou-1 in the second half of this year."
Join 80,000 oil and gas professionals who receive our weekly newsletter.
You may unsubscribe at any time with one click.
Chariot Oil & Gas
Acquisitions & Mergers
This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
a qualified investment adviser. More
Upcoming OilVoice Training Course
Introduction to Seismic Data Acquisition & Processing
The acquisition and processing of seismic data is fundamental to gaining a better understanding of the subsurface geology and structures in any exploration program. Without good seismic data companies are literally - drilling in the dark. The course starts with an introduction to the basic concepts ...
All OilVoice Training Courses