Licence Overview - Namibia
Key Features of Chariot’s Licences:
- Prospect portfolio includes several large structural traps and combination structural/stratigraphic closures in three different geological settings
- Prolific hydrocarbon generation is proven in the Orange Basin with the giant Kudu gas field, which appears to be sourced from an oil prone, but locally over mature source rock
- Extensive seabed gas hydrates, gas chimneys and other direct hydrocarbon indicators (“DHIs”), all positive indicators of both gas and oil generation
- Past drilling, even where unsuccessful, has revealed interbedded sandstone and shale intervals providing multiple sealed reservoir target levels for future exploration
- Despite poor trap development on the shelf, discoveries have been made and oil shows encountered, proving a petroleum charge system
- All elements for a working petroleum system have been demonstrated through recent drilling
Licence Details of Chariot Blocks:
Asset | Licence | Operator | Interest % |
Status Phase | Licence Area km² |
Block 2312 | 0071 | Enigma | 65 | Exploration | 16,801 |
Block 2412A |
Taxation of Oil Production:
- 5% – state royalty
- 35% – corporation tax
- 25% – additional profits tax (“APT”) – when IRR > 15%
- No capital gains tax