Chariot Oil & Gas Limited

http://www.chariotoilandgas.com/files/7313/8746/...e_-_20_12_2013.pdf

Chariot Oil & Gas (LON:CHAR) has continued its momentum for developing its portfolio, according to chief executive Larry Bottomley.A pre-close operation update says that during the year, the company has adhered to its strategy of managing risk and applying capital discipline whilst continuing to develop and mature its portfolio of high potential assets.In doing this, it continues to work towards its goal of creating transformational stakeholder value through the discovery of material accumulations of hydrocarbons.
Bottomley said: "We set out this year to ensure that the company continued its momentum for developing its portfolio, at the same time as managing its risk and reducing its capital exposure through partnering. We have succeeded on each of these components, demonstrating our ability and commitment to delivering our strategy.
"In the coming year, we will continue to work within this strategic framework to enable us to build towards our long term goal of delivering transformational value to stakeholders. Such value will only be realised by the discovery of material accumulations of hydrocarbons which remains the focus of the company."

Wir werden sehen..

Vielleicht überraschend wurde heute auch von BP die Rückgabe Ihres 30% Anteils an Serica , 0047 im Luderitz Basin, Namibia mitgeteilt.  http://www.euroinvestor.com/news/2013/12/20/...ense-interest/12634796

Kosmos Energy mietet für eine Offshore Bohrung im Agadir Basin, Morocco ein zusätzliches Rig. (Maersk, Discoverer). Die Bohrung soll im 1H2014 im Block Foum Assaka beginnen. Im letzen Jahr wurde bereits das long-term Rig Agreement für das Atwood Achiever Drillship gemeldet das im 2ten Halbjahr zum Einsatz kommt. Höchstwahrscheinlich im Block Tarhazoute. Eine weitere Bohrung in Morokko/Westsahara ist für den Block Cap Boujdour im 2H2014 geplant. Farm in Partner sind u.a. BP, Fastnet und ONHYM.

http://investors.kosmosenergy.com/...le&ID=1887595&highlight=            

http://phx.corporate-ir.net/...EzMjkzfENoaWxkSUQ9LTF8VHlwZT0z&t=1  

.. nicht mehr ganz frisch, aber trotzdem informativ.

http://no0ilcanarias.files.wordpress.com/2012/10/...oring-morocco.pdf               http://www.puravidaenergy.com.au/media/media/...co_Note_April2013.pdf

für dieses Jahr von 10 auf 20 Bohrungen zu erhöhen. Aber wohl nicht alle Offshore, sollte man meinen. http://news.yahoo.com/...ploration-wells-2014-minister-194159194.html

and ..reports in the local media of a significant gas discovery in the Essaouira region. Da könnte die Meldung von Longreach gemeint sein http://www.longreachoilandgas.com/press-releases.php?newsid=80

Chariot sowie auch Nachbar Repsol werden dieses Jahr wohl noch mit 3D Seismic ausgelastet sein.

http://www.independent.ie/business/irish/...il-takeover-29906350.html 

...its major assets include the Jubilee field in Ghana, while it also has successful producing fields in Kenya and Uganda. It has a total of 68 producing fields and operates in 25 countries, including a presence in Norway. It incurred $2bn (€1.4bn) in capital expenditure last year.              ...."Our high-impact, basin opening exploration campaigns will continue in 2014, and with wells in Kenya, Mauritania, Norway, Ethiopia and Guinea planned for the first half, there is much to look forward to," it said.

In Mauritania hätte man laut Drilling Program bereits im Prospect Tapendar Block C-10 bohren wollen. Spud Date Q4/13. Die Bohrung im Block C-7, prospect Fregate ist noch nicht beendet. Das Drillship Stena Drill Max ist noch vor Ort. Verzögerungen wurden aber bisher nicht gemeldet.   What´s going on....

Drilling in West Africa

The development of deep-water drilling in West Africa will benefit Transocean, as the company has seven floaters operating in the region. The demand for rigs in West Africa could rise as oil and natural-gas companies are stepping up exploration in the region to find oil in deep submerged sand crust to emulate pre-salt discoveries like in Brazil. Pre-salt is a geological formation that could contain oil and natural gas. A large oil field with reserves of around 250 million barrels or greater could be discovered in the offshore region of West Africa. A major explorer in offshore West Africa, Total (TOT), has two discoveries -- one in Gabon and the other in Ivory Coast. In Africa, Total has a presence across 16 countries, having produced around 700,000 barrels of oil equivalent per day, or boepd, in 2012. So, Africa forms an important part of the company's growth. In 2014, Total plans to drill two of the 10 to 15 pre-salt well in offshore Angola, West Africa. Total's exploration program in West Africa could further provide opportunities for offshore drillers in the coming quarters.

Moreover, in West Africa countries such as Ghana and Ivory Coast are competing to increase their oil output. Ivory Coast plans to increase its output to 200,000 barrels per day, or bpd, by 2019, while Ghana plans to increase to 250,000 bpd by 2021. Ghana is currently the fourth largest producer in West Africa. Either of these two countries planning to prop up their offshore exploration program for oil and natural gas is encouraging oil companies to invest in the same. So these regions provide further growth for offshore drilling companies. In 2014, around 14 deep-water rigs of Transocean are coming out of contract and the company estimates that in offshore West Africa 10 to 15 deep-water rigs could be required to drill. West Africa could be one of the potential regions where these rigs are contracted.......

** Chariot Oil & Gas ist drill ready in Mauritania und Namibia. Auf geht´s.. **

http://seekingalpha.com/article/...ting_oil_gas_dri_exp_4_8&ifp=0

http://www.londonstockexchange.com/exchange/news/...cementId=11862015

Mauritania

In Mauritania, Tullow commenced its exploration drilling campaign in August 2013 targeting new, deeper plays in the offshore Mauritanian basin. The first well, Frégate-1, in the C-7 licence, was drilled to a depth of 5,426 metres and has encountered up to 30 metres of net gas-condensate and oil pay in multiple sands and the data will now be integrated with Tullow's regional 3D seismic surveys. The well is being plugged and abandoned and the rig will move to drill the Tapendar prospect in Block C-10. This wildcat well has achieved an important technical breakthrough by establishing a new oil play in deepwater Late Cretaceous turbidites. Whilst encouraging, further assessment and analysis will be required before follow up activities.

The approval of a Field Development Plan by the Government of Mauritania has allowed good progress to be made on the Banda gas to power development. The Engineering, Procurement and Construction bids have been received and pre-award negotiations are ongoing with contractors. Commercial discussions on the Gas Sales Agreement and associated Power Purchase Agreements are ongoing and are critical to the final sanction of this project.

Net production from the Chinguetti field in Mauritania, which is a separate play type from the Group's exploration interests, averaged just over 1,300 boepd in 2013, which is in line with expectations.

na endlich..

http://otp.investis.com/clients/uk/chariot-oil-and-gas/rns1/regulatory-story.aspx?cid=351&newsid=392785 

A Review of the Chariot Portfolio

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, announces that it will be hosting an Analyst Day today for a group of sell-side analysts.

The event will include an in depth overview of Chariot's portfolio, providing detailed information on the Atlantic margin petroleum systems within its acreage, the Company's recent progress and the forward programme.

During the presentation, the Group will cover the topics outlined below:

Strategy and Progress

During the course of last year, Chariot repositioned itself from being a "Play Opener" to a "Fast Follower" within the regions where it holds acreage. This means that, by using its re-awarded and extended licence periods in Namibia, and its long exploration permits offshore Morocco, Mauritania and Brazil, Chariot has been able to continue the maturation of its portfolio whilst learning from the drilling programmes of its nearby neighbours. This repositioning has enhanced the subsurface understanding of the Company's assets, as well as the development of prospectivity and play focus. Offshore Namibia, this approach enabled Chariot to select a drill ready prospect in a proven shallower petroleum system as a result of the incorporation of information from third party drilling. In 2014 further prospects will be drilled by third parties in close proximity to Chariot's assets in Namibia, Morocco and Mauritania. The Company will continue to use its Fast Follower, low cost, early entrant position to integrate the information provided by these drilling campaigns with its own proprietary data in order to work up optimum prospects for drilling.

Morocco

During 2013, the Company reprocessed, and used its in-house technical capabilities, to interpret 11,000km of legacy 2D seismic over its licences offshore Morocco. Whilst this work highlighted the giant prospectivity potential in the Rabat Deep and Loukos acreage, the team also determined that the Casablanca/Safi licence was too high risk to justify further investment and, in line with Chariot's focus on achieving the best balance of risk and return, the team decided to relinquish it. In Q2 2014 a 1,300km² 3D seismic campaign is planned for the Company's existing assets offshore Morocco (Loukos and Rabat Deep), in order to mature the identified high potential leads into prospects for drilling with a partner in 2015.

Mauritania

Offshore Mauritania, the team's ability to identify and develop prospectivity on its acreage received third-party endorsement through the farm-out of 35% of its C-19 acreage to Cairn Energy in August 2013. From this, in line with the Company's aspiration to carry out "zero cost" exploration, Chariot received US$26.0 million for the full cost of its 3,500km² 3D seismic programme on the block and additional back costs. A further data room will be opened following the completion of the Company's interpretation of this 3D seismic acquisition due in Q2 2014. Thereafter Mauritania is expected to be drill ready and the Company will aim to bring in an additional partner for drilling in 2015.

Namibia

Integration of the Kabeljou-1 well results and third party drilling offshore Namibia enabled the Company to identify significant potential to justify a 2,000km 2D seismic campaign over block 2714B, which was completed in January 2014. Once interpreted, this 2D survey will provide the necessary data to help identify the most appropriate location for a 3D seismic campaign over the highly prospective shallower petroleum system within the block. Subject to securing a drilling partner, the Company will also be looking to test this shallower petroleum system in its Central Blocks which are currently drill ready.

Brazil

Through the acquisition of four blocks in the Barreirinhas basin offshore Brazil in May 2013, the Group continued its path towards diversifying risk and balancing its portfolio. This basin lies conjugate to the Jubilee discovery in Ghana and is another example of Chariot's ability to access high potential underexplored acreage at a low cost with minimum work commitments. Furthermore, the acquisition of these Brazilian licences introduces the potential of a well in 2016 meaning that, subject to partnering, Chariot's portfolio offers the potential for at least one well per year for the foreseeable future. The Company is currently undertaking an Environmental Impact Assessment with the anticipation of carrying out an 800km² 3D seismic programme in 2015. Completing this 3D seismic survey together with the proposed 2014 3D survey offshore Morocco, will mean that Chariot will have fulfilled and exceeded all outstanding commitments across its portfolio.

Partnering

In line with Chariot's established strategy, the specific timing of drilling remains subject to the completion of farm-outs and accessing the carried funding for these wells. While Chariot is determined to drill its prospects as soon as possible, the securing of partners takes time. On the Central Blocks the farm-out process continues and the market will be updated with its progress as appropriate. As mentioned above, a partnering process will be initiated in the coming months in Mauritania in order to secure a partner for drilling, and further datarooms will also be opened in Morocco and Brazil to accelerate these exploration programmes.

Funding

The Group remains debt free and as at 31 December 2013 it held cash balances of US$56.7 million (unaudited) compared with US$39.9 million (unaudited) as at 30 June 2013 and US$68.3 million as at 31 December 2012. The successful farm out of Block C-19, Mauritania, to Cairn Energy (Chariot (Operator) 55%, Cairn 35%, SMH 10%), which recovered the costs of the 3,500km² 3D seismic programme and other back costs incurred, resulted in the receipt of c.US$26 million in October 2013. As at 31 December 2013, c.US$16.7 million of the Company's cash balances were held as security against licence work commitment bank guarantees. As at 31 December 2014, this figure is estimated to be US$15.6 million.

Net cash utilisation of US$11.6 million in the year to 31 December 2013 comprised of;

· US$2.5 million on G&G/seismic processing in Namibia and Morocco;

· US$2.4 million relating to the acquisition of Chariot's Brazilian licences, the acquisition of associated seismic data and the establishment of the Company's business in country;

· US$23.1 million in Mauritania on 3D seismic acquisition and processing offset by the receipt of US$ (26.0) million of farm out proceeds from Cairn Energy;; and

· US$9.4 million on other G&G and G&A and US$0.2 million of net finance/foreign exchange charges.

During 2014 Chariot expects to spend c.US$33 million further developing its portfolio as follows;

· US$13.0 million acquiring and processing 1,300km² of 3D seismic in Morocco. The majority of this is expected to be recovered during 2015 from farm-out back cost receipts;

· US$5.0m in Namibia, of which US$3.7 million relates to the acquisition and processing of 2000km of 2D seismic on its Southern Block 2714b;

· US$4.0 million in Mauritania of which US$2.3 million relates to the completion of the processing of the 3,500km² of 3D seismic and US$1.7 million relates to capital gain tax on the Cairn Energy farm out;

· US$1.5 million in Brazil relating to G&G and Environmental Impact Assessment work relating to the upcoming 800km² 3D seismic programme; and

· US$9.5 million on other G&G and G&A throughout the portfolio.

All contractual licence commitments are fully funded through to the end of 2015.

There will be no further new trading information released during the event and a pre-recorded webcast of the Company's corporate presentation will be available on the website from 10.00 am today.

http://www.iol.co.za/business/companies/...r-oil-in-namibia-1.1648345

Shell übernimmt 2 Blocks offshore 2913a/2914b im Orange Basin, Namibia von Signet. Shell ´s Interesse am Orange Basin erweitert sich vom angrenzendem Süd Africa jetzt auch nach Namibia.

Siehe Grafik (2)  http://www.energy-pedia.com/news/general/new-158112

liest sich gut...

http://www.investegate.co.uk/...cutive-directors/201402190700113804A/

 William ("Bill") Trojan has over 36 years of industry experience, having spent almost 20 years at Shell in various senior positions which notably involved exploration work offshore Namibia. Bill's experience in West Africa was further enhanced in his position as Vice President of Worldwide Deepwater Exploration for Phillips Petroleum Company and he continued to develop this role following its merger with Conoco.

David ("Dave") Bodecott is an experienced geologist having worked in Angola, Ghana and Mauritania among other geographies over the past 40 years. He co-founded AIM-listed Rockhopper which won multiple awards for its successful exploration during his tenure.

Larry Bottomley, CEO commented:

"We are very pleased to welcome Dave and Bill to the Board. With the addition of these two highly skilled exploration geologists, the Board undeniably has a depth of technical experience which will enable it to enhance its decision making and strategic planning. Furthermore, their in-depth knowledge of the regions in which we hold acreage as well as their insight into the progression of exploration projects will no doubt prove invaluable to our technical and commercial teams as we seek to deliver the Company's goals." 

NOTES TO EDITORS

About William Roger Trojan

William ("Bill") Trojan (60) has worked in the oil and gas industry for 36 years and has extensive experience in deep water exploration within the Atlantic margins.

Between 1978 and 1997 Bill built his career at Shell, during which time he held a variety of senior and managerial roles specialising in the strategic direction of exploration programmes, new business concepts, strategies and work processes to maximise value from the company's portfolio. The regions of focus varied worldwide including the assessment of the Angolan and Nigerian margins as well as offshore Namibia. He was also responsible for prospect evaluations of several giant oil discoveries.

Following his career at Shell, Bill became Vice President of Worldwide Deepwater Exploration for Phillips Petroleum Company in 2000. In that position he built and managed a new exploration programme focused primarily on West Africa, Brazil and the Gulf of Mexico. Following the merger with Conoco, Bill continued to specialise in West Africa where he was responsible for bid rounds in new venture evaluations, seismic and drilling operations.

Bill holds a BSc in Geology from Westminster College, Utah and an MSc in Geology from Oregon State University, Oregon.

Bill currently holds no other directorships, and in the past five years was director at Brenham Oil and Gas Corp (July 2010 - July 2011).

About David Hamilton Bodecott

David ("Dave") Bodecott (61) is a highly experienced geologist, having worked worldwide in the oil and gas industry for 40 years, including West Africa. Having co-founded AIM-listed Rockhopper Exploration Plc ("Rockhopper") in 2004, he became its Exploration Director in 2007 and built up a highly skilled technical team in preparation for the 2010/2012 drilling campaign that delivered the Sea Lion discovery and appraisal. Rockhopper won several "Explorer of the year" awards during that period.  

In 2013 Dave left Rockhopper to continue his consultancy work, a client base of which he had established between 1981 and 2007. Most of his consulting work has involved new venture exploration and he has worked for Desire Petroleum, Dana Petroleum, Chevron, Premier Oil, Faroe Petroleum, Kerr McGee and Reach Exploration across numerous regions including Angola, Ghana and Mauritania.

Prior to becoming an independent consultant, Dave worked at Gulf Oil Corporation as Senior Geologist and prior to that at Arco Oil Producing Inc. He has a BSc in Geology from the University of Hull and an MSc in Petroleum Geology from the Imperial College of Science & Technology, London.

Dave is also a board director at Cumberland Logos (2004 - Present) and Cumberland Oil and Gas Ltd. (September 2013 - Present). His previous directorship over the past five years was at Rockhopper Exploration Plc (April 2007 - January 2013)

http://www.h24info.ma/economie/maroc/...urde-complexe-exploiter/20958

After revelations confirming "the presence of oil" off Tarfaya, ONHYM first silent ... before discussing "heavy oil complex to operate."The National Office of Hydrocarbons and Mines (ONHYM) today confirms that drilling operations offshore Tarfaya have good "opportunity to meet a heavy oil column."  But once again, those who began to dream of petrodollars will see their hopes dashed."No good quality reservoir"

However ONHYM said in a statement that the oil found on the site of drilling Juby Maritime 1 is "a more complex heavy oil to operate than light oil." ONHYM explained that the drilling did not find "a reservoir of good quality."

Exploitable oil off Tarfaya? "The drilling started on January 8 to reach the final depth of 3,835 m 9 March 2014," the source said.  Located 38 km off Tarfaya, maritime Juby license, with an area of ​​4,481.3 km2, is equally owned (37.5%) by Genel Energy and Cairn Energy.  The rest (25%) is held by ONHYM. As a reminder, the announcement of Genel Energy follows several others of the same kind as those of the Fastnet companies and Kosmos Energy, which operate the Eagle wells near Agadir and had estimated its oil potential 360 million barrels of oil .  Often these ads are used by operators to raise money on the financial markets.However, ONHYM reassuring.  The statement said that a significant drilling program onshore and offshore has been established, and concludes with an optimistic tone: "the Agency and its partners are confident and persevering."

"No good quality reservoir"    .....2te Bohrung nach Foum Draa (Cairn/ONHYM/SLE/Serica) nun im Block Juby Maritime (Cairn/Genel/ONHYM) beendet. Primary Target is Middle Jurassic. Secondary appraisal of the existing upper Jurassic.  

Nächste Bohrung im Block Sidi Moussa (Genel/Serica/SLL/ONHYM) mid-2014....

http://www.energy-pedia.com/news/morocco/new-158574

neu hinzugekommen ist die Lizenz "Mohammedia Reconnaissance" mit 4600 km2. Im Gesamten besitzt man 3 Lizenzen mit über 16000km2 zu jeweils 75% Interest und ist Operator.  11000km2 2D Seismic sind ausgewertet. 1700 km2 3 D Seismic sind vergeben (Dolphin Geophysical) Start ab April ´14. Prospective resources 500mmbbls. Chariot plant für 2015 2 Bohrungen.

Interesant: Pura Vida besitzt 10900 km2 im Mazagan Permit. 3500 km2 3D Seismic sind ausgewertet. Nach 75% Interest gab es ein Farmout. Freeport McMoRan kauft für US$ 230mil 52% Interest. Pura Vida plant auch 2 Bohrungen im Jan 2015 und im 2H 2015. (5.3 billion bbls (mean)prospective resources.Die Atwood Achiever, neues Drillship unter Vertrag von Kosmos Energy soll nach ihrem ersten Einsatz (Western Sahara Kosmos/Cairn) im Mazagan Permit bohren.http://http://www.puravidaenergy.com.au/news_pdf/...ntation_final.pdf     http://www.kosmosenergy.com/pdfs/...nergy-presentation-2014-02-12.pdf

http://www.fastnetoilandgas.com/~/media/Files/F/Fastnet-Oil-and-Gas/analyst-coverage/March%202014.pdf

http://www.fastnetoilandgas.com/...lations/analyst-coverage/2014.aspx

RFC Ambrian Company Analyses from Tullow Oil  / Ophir Energy / Africa Oil Corp / FAR Ltd / Fastnet Oil & Gas / Chariot Oil & Gas / Pancontinental / Azonto Petroleum / Global Petroleum / WHL Energy

...our estimate of Chariot’s current fair value is roughly  3x its share price. We estimate that the current fair value of Chariot’s share price is 63p, which is roughly 3x higher than its 21p price on 26 February 2014.

...in our ‘success’ scenario we estimate that Chariot’s shares could be worth 289p by end-2014, while in our ‘failure’ scenario we estimate they could be worth 23p. 

For our Current Fair Value Estimate:
In its Namibian Central Blocks, we have assumed that by end-2014 Chariot farms down 65% of its interest for carry on the first well (and back costs the company may be able to negotiate associated with the 3D seismic acquisition and processing which we estimate at US$10m), which we have assumed will target the Prospect B. We have used the company’s estimate for the size (450MMbbl) and Pg (22%) of this prospect. We also assume that the Pd is just 50%, reflecting the risk that a farm-down is not completed and that if a discovery is made that it is not taken to commercial development. We have conservatively not included any value for Chariot’s other Namibian Central Block prospects and leads. We have valued Chariot’s interest in Southern Block 2714B using what we believe is an appropriate Namibian farm-in multiple of US$5,700/km2 , reflecting the recent completion of a 2D seismic acquisition. Namibian offshore farm-in multiples have ranged from US$2,500/km2 to just over 11,000/km2 in the last few years. We have conservatively ascribed no value to Chariot’s Namibian Northern Blocks (home f the Tapir South-1 well) nor to Namibian Southern Block 2714A (home of the Kabeljou-1 well), although management believes this acreage is still highly prospective. In particular, the orthern Blocks’ Zamba prospect is a giant potential sub-salt carbonate ‘old trap’ on trend with recent Angolan discoveries, with gross mean prospective resources of 375MMbbl. We have valued Chariot’s interest in Block C19, Mauritania, based on the US$26m price paid by Cairn to farm in for 35%. This equates to some US$6,100/km2.

..We have ascribed no value to Chariot’s Moroccan and Brazilian licences as only a little work has been done on them to date. We have used Chariot’s December 2013 net cash of US$56.7m and management’s 2014 guidance for the company’s G&A and exploration expenditure US$33m (and have assumed the company receives US$10m in back costs from the farm-out). 

For our ‘Success’ Scenario Value Estimate. All assumptions are the same as above except: We assume that the Central Blocks’farm-out is completed on the terms assumed above, and that Prospect B is an oil discovery. We also raise our Pd from 50% to 80% for this prospect.

For our ‘Failure’ Scenario Value Estimate  All assumptions are the same as current fair value except: We assume that the Central Blocks’farm-out is completed on the terms assumed above, but that the first well is a dry hole. In this scenario we assume no value for any of Chariot’s Namibian licences. In effect we are valuing Chariot at just our forecast end-2014 net cash plus the value of its interest in Block C19, Mauritania.

Ein Schritt für die Zukunft..

Nigeria und Namibia planen den Bau einer Ölraffinerie.

     http://www.helioschariot.com/category/general/

     http://www.dailytimes.com.ng/article/...ibia-build-joint-oil-refinery

http://www.petro21.com/refer/?z=deb&id=858

Future Prospects for Namibian Hydrocarbons, Larry Bottomley, Chief Executive Officer, Chariot Oil & Gas, London

http://archive.crossborderinformation.com/Article/...=20140411#   Schrumpft Tullow sein 4-Well Explorations Program in Mauritania auf 2 Bohrungen zurück ? Für dieses Jahr ist laut Bohrprogram die Bohrung "Tapendar" zur Zeit "in progress" geplant. Eine weitere die dritte Bohrung "Sidewinder" ist nur noch im Status "tbc" d.h. nicht bestätigt.  http://www.tullowoil.com/index.asp?pageid=247           Laufen Tullow die Kosten davon ??   http://www.marinetraffic.com/de/ais/details/ships/235060864

http://www.tullowoil.com/index.asp?pageid=137&newsid=890

25 Apr 2014     Mauritania - well update

Tullow Oil plc (Tullow) today announces that the Tapendar-1 exploration well in the C-10 licence, offshore Mauritania, has not encountered hydrocarbons and the well is being plugged and abandoned.

Tapendar-1 is the second exploration well in Tullow’s Mauritania exploration campaign, following the Frégate-1 well in February 2014. The objective of Tapendar-1 was to test two targets of Miocene and Upper Cretaceous age. At the Miocene interval a major undrilled turbidite fairway was penetrated and encountered excellent quality, well developed, reservoir sands. However, these sands were water bearing at this location. The deeper Upper Cretaceous target tested a salt flank play, which at this location, did not encounter any sands. The well reached total depth of 3,752 metres and is currently being plugged and abandoned after which the Stena DrillMax drill ship will leave Mauritania.

Tullow has a significant exploration position offshore Mauritania. A variety of exploration prospects and plays, independent of the Tapendar and Frégate results, remain highly prospective. Data from the Frégate-1 and Tapendar-1 wells will now be analysed and integrated into the seismic data previously acquired across Tullow’s Mauritania acreage before the next well locations and timings are confirmed. Seismic acquisition in Blocks C-3 and C-18 will also continue this year.

Tullow operates the C-10 licence with 59.10% equity and is partnered by Premier Oil plc (6.23%), Kufpec (11.12%), Petronas (13.5%) and SMHPM (10%).

Angus McCoss, Exploration Director, Tullow Oil plc, commented today:

“The Tapendar-1 frontier exploration well was a bold attempt to open a new oil play in this area of Tullow’s highly prospective offshore Mauritania acreage which the Group has built up in pursuit of the next Jubilee-type discovery. At this well location, two targets of Miocene and Upper Cretaceous age failed to encounter hydrocarbons. Following these opening wells, we and our partners will now pause to analyse the data gathered from the exploration campaign thus far. We will then decide on the location and timings of the next wells which will continue to focus on exploring for conventional oil plays.”

http://www.worldoil.com/news/2015/1/30/...after-the-oil-price-decline

http://www.worldoil.com/news/2015/2/12/...ig-cuts-hit-brakes-on-shale

...the company is one of 19 producers that account for more than half of all U.S. production outside of Alaska. A universe of 91 companies is responsible for 81% of the output in that region, according to ITG Investment Research. That data suggests that a small group of companies have a lot more influence on global prices than they’ve had in many years, said Edward Hirs, managing director of Hillhouse Resources LLC.“It’s much better not to produce right now while oil is so cheap,” said Hirs, who teaches courses on energy economics at the University of Houston. “You know it’s in the ground, so you wait until the recovery.”Oil companies from Exxon Mobil Corp. to Royal Dutch Shell Plc have promised spending cuts exceeding $43 billion. On Thursday, Total SA announced a net loss of $5.66 billion, its first since 2008, and said expenditures would be reduced by up to $3 billion.      http://www.energy-pedia.com/news/general/new-162515  

Apache Corp. 4qt Results. Fourth-quarter net loss of $4.8 billion to adjusted earnings of $404 million / cut off Rigs by 70% and 50 % off Frac Crews

Das Öl-Gas Shale Geschäft auch bei höherem Ölpreis also nicht profitabel ? 

http://www.chariotoilandgas.com/files/7114/2372/...yst_Day_Update.pdf

http://www.chariotoilandgas.com/files/2014/2367/..._February_2015.pdf

US$ 53.5 mill. cash per 31.12.2014. Das Jahr 2015 ist noch lang...

ehemaliger CEO von Chariot Oil & Gas Paul Welch seit Okt.15 bei SDX Energy.

Es sind sogar 2 Bohrungen für dieses Jahr geplant..

http://www.energy-pedia.com/news/cameroon/new-166733

http://www.chariotoilandgas.com/files/6014/8716/...ion_-_February.pdf

Schade das erst Anfang 2018 eine nächste Bohrung (RD-1, Morocco) für Chariot ansteht. Durch Farmouts an Eni (OP) 40%, Woodside 25%,ONHYM 25%, bereits voll finanziert. Denkbar ist aber das dieses Jahr weitere Farmouts in Morocco, Namibia oder Brazil gelingen. Man plant für 2018 min 2 weitere Drill´s in Morocco und Namibia. 

We will see..

Cash Ende 2016  25 Mio $                                                                                                                  Marktkap. 32 Mio $

nice run today..

Volume 5.000.000 Shares on LSE. Today´s high 16,285 

http://www.iii.co.uk/reg-to'es=on&triggers=on&

www.iii.co.uk