Assets
Key features of Chariot’s licences:
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Prospect portfolio includes several large structural traps and combination structural/stratigraphic closures in three different geological settings
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Prolific hydrocarbon generation is proven in the Orange basin with the giant Kudu gas field, demonstrably sourced from an oil prone, but locally over mature source rock
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Extensive seabed gas hydrates, gas chimneys and other Direct Hydrocarbon Indicators (DHIs’), all positive indicators of both gas and oil generation
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Past drilling, even where unsuccessful, has revealed interbedded sandstone and shale intervals providing multiple sealed reservoir target levels for future exploration
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Despite poor trap development on the shelf, discoveries have been made and oil shows encountered proving a petroleum charge system
Exploration Detail
Northern Blocks
Blocks 1811A&B are situated to the north of the Walvis Ridge. Multiple leads are mapped including a very large fault block overlain by Aptian aged carbonates.
Chariot undertook two acquisition programmes across the Northern blocks in 2009 completing an initial programme of 900km² which was followed up with a further 600km² focusing on an area of specific interest over the previously identified Zamba prospect. The area of 3D seismic data acquired totalled 1,500 km2 and processing and interpretation has commenced and will be completed in the near future. As well as the Zamba prospect, four stacked leads have been identified in the Tapir Complex. A seismic line through this prolific section is shown below.
This area has proven hydrocarbon potential as evidenced by the Kunene-1 well in adjacent Block 1711 which shows potential for up to 14Tcf gas, (as reported by the Namibian Ministry of Mines and Energy). Basin modelling demonstrates potential for oil in Chariot’s licence area.
Central Blocks
The blocks are located on an arch between the Walvis and Luderitz Basins and can be charged by hydrocarbons from thick rift section in either, or both flanking basins. Large structural features have been mapped and hydrocarbon indicators seen in the Chariot concessions resulting in a lead portfolio being defined.
Chariot completed over 3,000 line km of 2D seismic data acquisition across its 2312A and B blocks in the period. Following the processing and interpretation of this data, the Company announced, in March 2010, that these licences contain 3.3 billion barrels of unrisked prospective resources. Prior to this announcement, no volume potential had been assigned to this area. Three leads were reported, Klipspringer, Hartebeest and Oryx all of which lie in relatively deepwater depths of 2,000 – 2,500m. The leads are interpreted to lie within a mapped Cretaceous channel – fan system with seismic character indicative of deep marine sandstone facies. These high graded leads are identified as combination traps with a component of structural dip closure (apparent following depth conversion) with upside stratigraphic trapping potential. Preliminary source maturity modelling suggests that the leads are oil prone. (Only the volumes contained within the structural closure have been included in the prospective resource volume estimates).
Southern Blocks
Blocks 2714A&B are situated to the south of the Luderitz High, on the northern edge of the Orange Delta. The mapped leads are mainly early Cretaceous turbidites and transitional phase Kudu type pinch-outs.
On blocks 2714A & B, 3D seismic processing continues, the results of which will be available in the near future. Chariot, as Operator, completed 3,000km² of data acquisition across these blocks, the latter 1,500km2 in partnership with Petrobras. The Company has been buoyed by the interest of Petrobras in the period, resulting in the farm-in agreement being signed and announced in May 2009. Chariot looks forward to developing a closer relationship with them as the partners assess drilling prospects on block 2714A.
We feel that we are very well positioned within the Namibian margin with our licence areas situated in three distinct geological settings. Our work continues to develop our knowledge and understanding of our blocks of interest as we look to further define targets for drilling.
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+0.09p (0.07%)
14:40 29/07/2010
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