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
Block 2312 0071 Enigma 65 Exploration 16,801
Block 2412A
Block 2714A 0072 Enigma 85 Exploration 5,482
Block 2714B 0067 Enigma 85 Exploration 5,463

Taxation of Oil Production:

  • 5% – state royalty
  • 35% – corporation tax
  • 25% – additional profits tax (“APT”) – when IRR > 15%
  • No capital gains tax

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