Exploration Detail - Namibia

Chariot has a large acreage position that sits within the Luderitz and Orange Basins and industry activity in recent years has provided new and encouraging information on the prospectivity within these regions, with the most recent drilling activity proving two new petroleum systems in the Aptian and the Cenomanian-Turonian. The implications of these results are significant, as Namibia is now de-risked for oil charge, and it is now a matter of determining where the reservoir, trap and source combine to deliver giant accumulations of hydrocarbons.

During 2013/2014 Chariot repositioned its Namibian acreage to become that of a fast follower. This not only enabled Chariot to have a stronger positioning in its licences, providing the optionality to seek seismic or well partners, but also meant that recent entrants into the region would be required to drill potential play opening wells prior to Chariot deciding on entering its own drilling periods.

Summary of Work Programme Completed to Date:

  • c.5,000 line km of 2D
  • Early participation in the ION namibaSPAN multi-client 2D seismic survey covering the entire offshore Namibian margin
  • 13,200km2 of 3D
  • 2 exploration wells

Further to its extensive exploration programmes the Company has the second most comprehensive well database and the second largest access to proprietary 3D seismic data available to the industry.

Central Blocks

Overview

Chariot holds a 65% interest and operatorship in Blocks 2312 and 2412A in partnership with AziNam (20%), and NAMCOR and a local partner Ignitus Oil & Gas (PTY) hold a 10% and 5% carried interest respectively.

Chariot was also an early participant in the licensing of the ION NambiaSPAN multi-client 2D seismic survey which covers the entire offshore Namibian margin. In combination with third party drilling and the Kabeljou and Tapir South wells, this has provided invaluable detail on the regional geological architecture especially with regard to basin crustal structure, correlation of source rock levels and definition of the main reservoir fairways. In particular, it appears that Chariot’s blocks are well placed to capture charge from key source kitchens and the recent 3D seismic programme also specifically focussed on describing reservoir presence and the identification of traps.

Chariot completed a 2,600km² 3D seismic programme in the Central blocks in February this year. This was acquired over the western flank of the licence on the outboard high, covering a number of leads which had been identified by the 2015 2D seismic survey. Early processed products are of excellent quality and confirm the potential of the 085b lead identified on the earlier 2D survey, adding to the previously developed portfolio which includes Prospect B (469mmbbls gross mean prospective resources) and Prospect D (416mmbbls gross mean prospective resources). The 3D data is currently being processed and will be interpreted on receipt of the pre-stack depth migrated data. Further to completion of this work Chariot will look for an additional partner to drill.

Forward Plan:

  • Central Blocks: Drill Prospect B

Industry Activity:

  • ~3 wells (?) in 2017-2019

Remaining Commitments:

  • No remaining commitments

Southern Blocks

In the Southern Blocks, Chariot is exposed to, and operator of, both the deeper Kudu play prospectivity and the Cretaceous fan fairway identified in the shallower petroleum system within this Southern region.

Integration of the ION NamibiaSPAN 2D seismic survey and completion of technical studies in the Southern blocks has identified the high risk, material gas prospect AO-1 with a gross mean prospective resource in excess of 10Tcf (Chariot estimate, a CPR is underway). A partnering programme has been initiated on the Southern blocks.

Forward Plan:

  • Southern Blocks: Drill AO-1 (subject to acquiring partners)

Industry Activity:

  • ~3 wells (?) in 2017-2019

Remaining Commitments:

  • No remaining commitments

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