Chariot Oil & Gas announced substantial rise in mean prospective resources
Friday, October 24, 2008
Chariot Oil & Gas, the exploration group with interests in Namibia and Peru, has announced new data which shows an increase in its mean prospective oil resources of over 1.3 billion barrels – up 34.2% to 5.24 billion barrels from its offshore Namibian licences.
The upgrade follows analysis of reprocessed PSDM 2D seismic results by consultancy firm HRT Petroleum, as part of an ongoing effort to mature the prospect and lead inventory.
Kevin Broger, Chariot’s chief executive commented: “The reprocessing of the existing 2D seismic data has indicated evidence of many new structural leads in both our northern and southern blocks, adding further weight to the prospectivity of the Namibian offshore basins and our portfolio.”
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