Major Natural Gas Discovery in Morocco Could Have Strategic Importance

Good news for Chariot oil & Gas ltd. The report commissioned on the Lixus license, in the Larache region, confirmed the potential of the "Anchois discovery" and "Anchois satellite" wells, as well as five other well prospects, reports TelQuel. According to the specialized firm Netherland Sewell & Associates Inc, in charge of the study, these results would even exceed all expectations.

The potential is around 2,000 billion recoverable cubic feet of natural gas, spread over five prospects of the Lixus license. "The report also revealed a potential of one trillion cubic feet of gas on the Anchois permit," said the British company in a press release. These estimates go beyond those announced by the company last June.

For Larry Bottomley, CEO of the gas company, this is an "interesting" production capacity. This is a crucial point, in particular, in a "rapidly growing energy market, characterized by high gas prices and an increased need for supply," he said.