Chariot Oil & Gas Begins Drilling for Major Gas Prospect in Morocco

In a press release, Chariot states that the Gaufrette prospect is expected to unlock low-cost gas resources of at least 10 billion cubic feet within the Loukos Onshore permit. "We are very pleased to be embarking on this onshore campaign, which marks the start of Chariot’s first of our exciting drilling operations this year. We also continue to work on the prospectivity of this area, as we see significant potential both in the vicinity of our high-quality wells and beyond," commented Duncan Wallace, Chariot’s Technical Director. He also thanked the National Office of Hydrocarbons and Mines (ONHYM) for its continued support. "I would like to thank our operational team for their hard work and the efforts they have made to launch this drilling within ten months of the license being awarded, as well as ONHYM for their ongoing support and partnership. We look forward to providing a timely update on the results," he added.

Chariot holds a 75% stake in the Loukos Onshore license, while the National Office of Hydrocarbons and Mines (ONHYM) owns the remaining 25%.