The Company holds a 90% interest in Block C19 offshore Mauritania through its wholly owned subsidiary Chariot Oil & Gas Investments Mauritania Limited.
This acquisition was in line with Chariot’s strategy of looking to unlock further potential in West African deep water assets and balancing the portfolio as Mauritania is an established hydrocarbon province.
Whilst Mauritania is an established oil producing region, it is still relatively underexplored and Chariot considers this to be a highly desirable region for oil and gas exploration. The Company’s acreage was acquired prior to other major industry explorers and Chariot has fast-tracked its exploration here with a 3,500km² seismic acquisition programme already completed and being processed. With oil shows present in the licence area from previous drilling and being nearby to other oil discoveries, Chariot considers this asset to have giant play potential.