Chariot Oil & Gas Limited

The Loukos and Casablanca/Safi licence areas are excellent further additions to Chariot's existing offshore West Africa portfolio.  Morocco has proven oil reserves and working petroleum systems ranging from the Jurassic to the Tertiary with the potential for the extension of the prolific Paleozoic systems of Algeria into the area. 

Chariot will be targeting the potential of the Paleozoic and younger systems in these permits. The country also offers competitive fiscal terms, a supportive regulatory framework and an excellent state oil company in ONHYM which contributes to the overall attractiveness of the opportunity.

It is Chariot's intention to apply modern exploration techniques to the results of previous exploration work carried out in these licence areas with the aim of identifying substantial potential.          Paul Welch, CEO of Chariot, commented:       "In line with our strategy, Chariot has continued to seek out underexplored highly prospective opportunities with the intention of maturing them into drillable oil prospects. 

The Loukos and Casablanca areas have been of interest to Chariot for some time and we are pleased to have these additional assets, which we consider to hold significant potential, as part of our broader West African portfolio. We look forward to evaluating and developing this valuable acreage alongside our new partner ONHYM."

NEWS  
19 October 2012

3D seismic programme contract signed for Block C19, offshore Mauritania

Chariot Oil & Gas Limited (AIM: CHAR), the independent Africa focused oil and gas exploration company, is pleased to announce that it has signed a contract for acquisition of a 3,500km2 3D seismic survey in Block C19 offshore Mauritania. The Company has contracted Fugro-Geoteam AS to carry out the programme in water depths ranging from 30m to 2,000m. The programme is expected to commence on 15 November 2012 and the acquisition is anticipated to take approximately 90 days to complete.

Block C19, in which Chariot holds a 90% stake, is located in the Central Atlantic Margin, offshore Mauritania.  The 3D survey will cover the southern portion of the block containing an extension of both Tertiary and Cretaceous age deep marine sandstone plays.  These plays are anticipated to be charged by the same prolific mid Cretaceous age source rocks proven effective by fields and discoveries in adjacent acreage. The 3D survey is intended to identify both structural and stratigraphic traps with the latter offering potential for large trap sizes.

By carrying out this 3D seismic survey, Chariot will be fulfilling its work commitments for the initial three year period within Block C19. Once acquired, processed and interpreted, the Company will report its results in the form of both volume potential and prospect identification.  From this, it is expected that a number of prospects would then be matured and tested in a subsequent exploration phase.

"Chariot continues its aggressive exploration programme within its broadening West African portfolio. This 3D seismic acquisition campaign will enable the Company to mature the subsurface potential of Block C19 and create a portfolio of prospects in our Mauritanian acreage. I look forward to reporting on the results of this activity in the second half of 2013."

..Loukos and Casablanca / Safi licences and covers an area of 10,782km², giving Chariot an aggregate acreage position of 16,207km² offshore Morocco.

http://otp.investis.com/Utilities/PDFDownload.aspx?Newsid=279419

Company Analyses: Chariot Oil & Gas  Seite 78 - 87

..We estimate that the current fair value of Chariot‘s share price is 62p, which is roughly 2x higher than its 30p price on 19 October 2012. In our success‘ scenario we estimate Chariot‘s shares could be worth 380p by end-2013, while in our failure‘ scenario we estimate they could be worth 25p. We outline our key assumptions behind these estimates below. As Chariot‘s market cap is below its net cash it is not possible to calculate an EV/net risked 2P prospective resource multiple.

Quelle: www.whlenergy.com/IRM/Company/ShowPage.aspx/PDFs/1409-88516304/RFCAmbrianSubSaharanOilandGas

http://www.rfcambrian.com/

..was ist da passiert ???

The new CEO suggests a clear focus on partnering, spreading risk,  reducing costs and accelerating the pace of portfolio, where  appropriate, across Chariot’s prospective acreage in Namibia, Morocco  and Mauritania.

The next key driver for us will be to farm out the central blocks with a fully carried well early in the new year!

Regarding Paul's share options these will be explained in detail in the year end results around April 2013.

All the best all

T

">http://www.iii.co.uk/investment/...tn:CHAR.L&display=discussion"> http://www.iii.co.uk/investment/detail

uk.finance.yahoo.com/news/major-changes-chariot-oil-gas-1143000

Major Changes At Chariot Oil & Gas

By Stuart Watson | Fool.co.uk – 6 hours agoEmail0tweetShare0Print
It's been a tough year for shareholders of Chariot Oil & Gas . The  African-focused explorer has suffered from dry-well syndrome, and its  shares have slumped from as high as 200p to just 27p today.

Last month, Larry Bottomley was appointed as the company's executive  chairman, having originally joined Chariot during September 2011 as a  non-executive director.  

It seems there could have been some heated discussions in the Chariot  boardroom since then, as today the company announced that its chef  executive, Paul Welch, and commercial director, James Burgess, are both  leaving the company with immediate effect.

Bottomley becomes Chariot's new chief executive, while Mark Reid has  been appointed to the board as finance director, having previously  performed the same role at Aurelian Oil & Gas.

Of course, it's impossible to know what has been happening behind the  scenes, but a major shake-up such as this will undoubtedly have an  impact.

Chariot's market cap is £54m, but it had £70m of cash on its balance  sheet as at 30 June 2012. At first glance, this may indicate a bargain,  but oil companies are usually committed to expenditure programmes under  the terms of their exploration licences. So what may seem like a healthy  cash balance can soon be depleted.

In Chariot's case, it is currently carrying out a 3D seismic programme  at a recently acquired block in Mauritania, and its latest presentation  indicated that no new drilling was likely until the end of 2013.

Many of Chariot's licences are offshore, with some in deep water, which  is usually more expensive to explore.  Nevertheless, this oil explorer  has managed to attract an impressive list of partners for its recent  drilling programmes, and it will be interesting to see who Chariot has  along for the ride next time.

Chariot Oil & Gas Limited (AIM:  CHAR), the Africa focused oil and gas exploration company, today gives  the following update ahead of its full year results for the year ended  31 December 2012.

In addition to its expansion into  Mauritania earlier this year, the Company has continued to diversify and  balance its portfolio through the acquisition of further licence areas,  Casablanca/Safi, Loukos and Rabat Deep, in Morocco. This served to both  further broaden the Company's West African focus and also de-risk the  exploration portfolio as Chariot now operates in frontier, emerging and  proven hydrocarbon provinces with highly prospective acreage positions  across three countries and five basins.

In line with its fast-track exploration policy, and with the support of the Mauritanian Ministry, the Company commenced a 3500km²  3D seismic survey in Block C19 within 5 months of receiving government  approval of the licence. Both Morocco and Mauritania have seen  increasing industry activity in recent months and the Company's  Mauritanian dataroom, which opened this month, has already generated  interest.

With regards to Chariot's Namibian  acreage, the Company was pleased to announce the approval of the Second  Renewal Phase for Northern Blocks 1811A&B and Southern Block 2714B  in October. The in-house technical team continues to analyse and  calibrate the results of both the Tapir South and Kabeljou well with the  3D seismic datasets. In the Central Blocks, the newly acquired 3500km²  3D seismic data is currently being mapped which will lead to an update  to the prospective resource volumes in Q1 2013. A dataroom will be  opened concurrent to this, which will include the data of both the  Central and Northern block licence areas.

Owing to the significant amount of new  proprietary information that the Company has acquired through the 2012  drill programme, Chariot's prospective resource inventory is currently  under review and it is intended that an updated prospect inventory and  consequential work programme will also be provided in Q1 2013.

The Company will focus on risk management  going forward. The current work programmes require minimum expenditure  and there is good head room for partner participation in the acreage  which will ensure that Chariot retains a strong cash position.  Management will continue to seek to reduce capital exposure through  attracting further farm-in partners to share the costs and rewards of  exploration.

Larry Bottomley, CEO, commented:

"Chariot's strategy remains centred  around creating transformational growth through the discovery and  development of new hydrocarbon provinces. Our Namibian assets are now  part of a more diversified West African portfolio and we are very  pleased to be early entrants with new licences in Mauritania and  Morocco. We have acquired a substantial amount of data in recent months  within our Namibian acreage, which remains our focus, enabling the team  to work with a markedly increased amount of geological and geophysical  information.  This information is currently being reviewed and we look  forward to providing an update on our prospective resource potential." 

 

otp.investis.com/clients/uk/chariot-oil-and-gas/rns1/regulatory-story.aspx 

Share Price Drivers von Tarles 17:36
http://www.iii.co.uk/investment/detail?code=cotn:CHAR.L&disp…

Plenty of share price drivers early 2013...

4Q12: Mauritania Block C-19 (Chariot: 90%*) Initial resource estimate based on existing 2D seismic. We expect Chariot to provide an initial assessment of the prospectivity of its Mauritanian block based on 2D seismic. A Competent Persons Report may follow later in the year once 3D seismic has been completed.

4Q12: Mauritania Block C-19 (Chariot: 90%*) Commencement of 3D seismic. Chariot is committed to carry out a 1,600km2 3D seismic survey, expected to commence in late 2012 at a cost of ~$20m. Vessel is en-route and will be at location end of this week.

1Q13: Namibia Northern Area Blocks (Chariot: 100%*). Resource update and possible Competent Persons Report. Management is currently assessing whether the Tapir-North prospect source kitchen could lie within the oil window (Tapir-South was under mature). If it sees prospectivity it is likely to issue an updated CPR and launch a farm out process. It will not seek to drill this prospect on 100% equity.

1Q13: Namibia Central Blocks (Chariot: 90%*, PGS 10%) Competent Persons Report & Launch of Farm Out Process. The CPR will incorporate 3D seismic shot during 2012 and clarify resource potential, prospect sizes and GCoS. I expect the farm out process and data room to be formerly launched in February 2013. Chariot will seek full carry for the drilling costs (expected to be ~$80m gross).

1Q13-3Q13: Namibia Southern & Central Blocks. HRT embarks on 4 well drilling campaign. Brazilian player HRT has secured a Transocean rig and plans a 4 well campaign. Newsflow could drive sentiment for the other Namibian exposed company's.

1Q13-3Q13: Mauritania. Tullow Oil embarks on 4 well drilling campaign in early 2013 across a number of its licences in Mauritania. Newsflow from that campaign could drive sentiment for Chariot, given the material position it has acquired in Block-C-19, adjacent to Tullow’s Block C-18.

2Q13: Namibia Southern Blocks (Chariot: 25%, BP 45%, Petrobras 30%*) Resource update and possible CPR. Once Kabeljou-1 well analysis is complete we expect the consortium to provide more detailed information on the reservoir and source rock characteristics. An updated CPR may be published incorporating this new data.

2Q13: Namibia Southern Blocks (Chariot: 25%, BP 45%, Petrobras 30%*) Licence extension decision. I understand in May 2013 the JV must decide whether to continue into the next 2 year phase of the permit. This is a decision point for all equity holders.

4Q13: Namibia Central Blocks (Chariot: 90%*, PGS 10%) Drilling of first exploration well on the blocks. Pending successful farm out Chariot targets drilling of an exploration well late in 2013.

Chariot Blocks

100%  1811 A & B  Northern Blocks, Area 5481 km2
90%    2312 A & B  Central Blocks, Luderitz/Walvis Basin  Area 16801 km2
50%    2412 A & B  Central Blocks
25%    2714 A        Southern Blocks, Orange Basin  Area 5481 km2
100%  2714 B        Southern Blcoks, Orange Basin  Area 2741 km2

www.namcor.com.na/hydrocarbon-licence-map

April - Tullow start well in Mauritania, in block adjctent to Chariots, first of 3 wells in Mauritania.

May - HRT start second well in Walvis Basin, Murombe, large deep turbidite reservoir at circa 5,000 meters so will take circa 3 months. Very important well for propectivity of Walvis/Luderitz basin

May - BP/PB Chariot need to take decision on going into next stage of licence in Namibian Block 2714 A, expect a well commitment. Limited data to be released, possibly size of remaining Nimrod prospect, however as HRT have yet to drill Moosehead prospect in Block 2713 I think they will say almost nothing.

June - result of analysis of Northern Blocks and Tapir. The well cost has been written off. We are looking to see if oil mature source rocks found in the licence area. Most likely to be in Northern part of licence. I would like to see an oil seep map to be re assured. Expect announcement of data room opening and farm out. No well commitment without a farm out.

June - Results of Tullow well in Mauritania

July -

August - Results of HRT murombe well in the Walvis Basin

August - Chariot farm out its Central blocks for a well to be drilled by ?

August - Block 2714 A licence is approved by Namibia for a two year extension with a well commitment

September - HRT start to drill Mooshead prospect in Block 2713, next to Chariots block

September  - Repsol announce drilling date for its Northern Licences, next to Chariots Block 1811

October - Cairn to drill Morroco

October -  Results of Chariot Mauritania 3 D, expect large deep water turbite stratigraphic trap prospects.  

There is a lot going on, success anywhere would be a catalyst for a sharp move upward in the share price.  Jimmy

  von der Eco Atlantic Oil & Gas Homepage

www.ecooilandgas.com/_resources/...Fact%20Sheet%20December%281%29.pdf

www.ecooilandgas.com/_resources/presentations/..._January_13_2013.pdf

www.youtube.com/watch

 

 

 

http://otp.investis.com/generic/...ory.aspx?cid=351&newsid=314287

 

Operational Update

Released : 19/02/2013

http://www.offshore.no/international/news/article.aspx?Id=21439

 

Chariot signals new schedule Posted 19.02.2013 08:46:29 av John Bradbury http://old.offshore.no/admi'_map_licences_Chariot_M.jpg old.offshore.no

African explorer

... (automatisch gekürzt) ...

http://old.offshore.no

Für 2013 sind nochmals 40 Millionen Dollar Ausgaben für Seismic etc. geplant.                 25 Millionen Dollar für 3500km² 3D Seismic Mauritanien (Acquistion, Processing, Interpretation)                                                                                                                                                          15 Millionen für diverse G&G + G&A.

restliche 20 Millionen für sonstige Deals die sich bieten..

Dieses Jahr also No drills and De-Risking.  Nun gut.

Dafür drillt HRT in Kürze in Namibia und Tullow in Mauretanien.

Hoffen wir Gutes...

 

 

 

 

 

 

 

http://investing.thisismoney.co.uk/broker-views/...hariot-Oil-Gas-Ltd

Jefferies International: Recommendation:  Buy  New Price Target  50p

www.chariotoilandgas.com/files/8013/6126/...gh_Exploration.pdf

www.brrmedia.co.uk/event/109698/...ley-chief-executive-officer

 

Trading Volume 7.9 Mill. Shares  (4 Week Volume 57 Mill. Shares)

allafrica.com/stories/201303080338.html

...Two years ago HRT announced that it found more than '200 oil  seeps' in  Namibia's offshore basin, in deeper water in the Walvis and  Orange  basins, west of the Kudu gas field. HRT Africa features another  Namibian  petroleum aspirant entrepreneur Knowledge Katti. HRT however  says its  faith in the presence of oil in the Walvis and Orange basins  is rooted  in the fact that the two basins mirror the Santos and Campos  basins in  Brazil where the biggest crude oil discoveries have been  made.

...HRT Africa promised N$350 000 a year to marine  preservation, by 2020,  again a dollar for every oil barrel produced,  which gives a production  of 350 000 crude oil barrels per annum  estimate. HRT has said the  presence of Kudu gas is already  an indication of oil presence, somewhere  along the basins, and uses the  example of a child and a mother. "If you  find a baby crying you have  to look for its mama," Mello famously  uttered with the mother being the  oil deposits.

Noch liegt das Rig im Hafen der Walvis Bay.. www.marinetraffic.com/ais/de/default.aspx                      ca. 200 Meilen sind es bis zum ersten Bohrpunkt im Wingat Prospect. Chariots Central Blocks sind nur wenige Meilen davon entfernt.

 

www.mzweb.com.br/hrt/web/default_en.asp  ( HRT Web Site )

www.mzweb.com.br/hrt/web/download_arquivos.asp  ( HRT 4QT12 Results CC Presentation )

 

Na endlich, tut sich etwas...
Rig ist bereits unterwegs ;-)

ja, und in 5-6 Tagen soll sich der Bohrer drehen, Mr. Mello said....

Footnote.. Petrobras and BP still have a base in the region, BP have  further exploration licences in the area Petrobras don't, but they have  storage facilities on long term contract in
Walvis Bay.

During Oct -11 to Feb 12 PGS carried out 3D seismic work over the North  Eastern areas of our Central blocks. The quality of the data is  considered to be excellent, identifying multiple drill able prospects.  Total gross mean prospective resources within this survey area (based on  2D seismic CPR from NSAI) stood at 3,972 mmbbl...

The updated CPR and resource report will assess the 3D seismic, this was  issued at the time the data room for the block opened in February.  Chariot have said they are looking to farm out a portion of its position  in exchange for a fully carried well. The plan is to drill a well on  this block early 2014, potentially utilising a rig that at this point  would be coming off the back of a 4 well drilling programme planned by  HRT on its Namibian licences.

Mauritania.

Tullow will start drilling its first prospect that sits directly below  our Mauritanian acreage, this is to start May/June this year. So another  well we can potentially ride off...

ST, yes Wingat might not be positive but this is only the start of a  long drilling campaign in the region. I am confident we will farm out  acreage this year, this will provide further cash and NO dilution, with a  free well carry. One of our biggest problems was rig availability in  the past, is that an issues in the next year or so with all the activity  planned in the region?

Sorry I skipped through it a bit but gong out in soon.

Downside risk from here... Low due to all the bad news Chariot have got  out of the way and Larry is starting from a clean slate. Share at cash  value and no value to assets.

Upside potential reward from here... Lets wait and see, I am confident  we will have our day again and that is why I am still here. More money  to be made at the bottom than the top!

This is oil exploration in its early days for a company like Chariot, we  are a small player in a potentially massive region if one company  strikes oil. It's all doom and gloom at the Moment, and yes many posters  have their opinion but why such interest in this board and other boards  of this is a dead duck? How many waiting on the sidelines for the data  to be released from our Southern blocks? How many waiting to see what  the directors do after the year end figures are released this week? How  many large institutional investors will see the upside from here and buy  what shares they can get their hands on? How many waiting to see if  Namibia has oil?

These are questions I am waiting for answers, but IF the market likes wha

helioschariot.com/tag/nimrod/

interessante Web Seite !

High Quality Exploration Portofolio - Large Equity Positions

http://www.chariotoilandgas.com/files/8513/7969/...CHAR_factsheet.pdf

nächste Bohrungen Umfeld:

Namibia, Central Area, PEL10 Repsol/Tower R./Arcadia  03/2014

Mauritania: Dana Petroleum, Block 7   läuft, endet im Dez.2013

Morocco: Cairn, Foum Draa Block   läuft, endet im Dez.2013

Ein 4-Well Explorations Programm von Tullow ist dieses Jahr im August in Mauritania gestartet. Die erste Bohrung im Block C-7 (Dana Petroleum, Operator) wird in den nächsten Tagen / Wochen beendet sein. Ein Block direkt unter dem Block 19 von Chariot ! !

Hier eine Übersicht des 4 Well Programms Tullow/Mauritania:

http://www.tullowoil.com/index.asp?pageid=271 .......http://www.tullowoil.com/index.asp?pageid=243

http://energymixreport.com/tullow-drills-in-mauritania/ 

Bei Chariots Block C-19 müsste die 3D Seismic abgeschlossen sein. Es wird nach einem Partner gesucht. Bohren möchte man so schnell wie möglich, schätzt dieses aber nicht vor 1 H 2015 ein.   Warum so spät ??

..Hydrocarbon System vorgefunden, kein ÖL.

 http://www.cairnenergy.com/index.asp?pageid=27&newsid=442 

Nächste Exploration Well ist gleich im Anschluss im Juby Maritime III Block für Jan. 2014 geplant. (Cairn 37,5% OP, Genel 37,5%, ONHYM 25%)

http://www.chariotoilandgas.com/operations/morocco/licence-overview/

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

HOUSTON -- The oil and gas industry’s leading magazine for upstream technology and activity, World Oil, forecasts a sharp drop in drilling, both in the U.S. and internationally, as a direct result of plunging crude oil prices. In its 89th annual forecast and review, World Oil predicts an average WTI oil price of $55.75/barrel (bbl), while Brent will be $58.80/bbl. A Henry Hub natural gas price of $3.35/MMBtu is expected.

“If crude oil prices persist below $50/bbl, there will be a dampening effect on oil-directed exploration and production (E&P) activity in regions of the world that are burdened with high break-even costs,” said World Oil Publisher Ron Higgins. “These items include potential projects in the Arctic and other high-cost frontier areas, unfunded heavy oil projects in Canada’s oil sands, and low-margin shale plays in North America. We expect that offshore projects that have a long producing horizon will continue, as will activity in fields where capital costs already have been sunk, and operating costs are manageable.”

Given these factors, as well as analysis of proprietary surveys, World Oil forecasts the following:

   U.S. drilling will drop 19.8% to 37,997 wells, from 47,402 wells in 2014.
   U.S. footage will go down 20.9% to 315.1 million feet.
   U.S. Gulf of Mexico E&P activity, particularly deepwater work, will continue at a lower level. If oil prices remain depressed for an extended period, fewer new projects will be sanctioned.
   Canadian activity will drop 30% to 7,362 wells, from 10,513 wells in 2014.
   Global drilling outside the U.S. will fall 6.8% to 52, 889 wells, from 56,725 wells in 2014.
   Global offshore drilling will drop 8.8% to 3,060 wells, from 3,356 in 2014.

In the U.S., liquids-rich shale plays are expected to bear the brunt of low crude oil prices, because of high break-even costs. Texas will experience an overall 23.4% decrease in new well activity to 13,911 wells. Particularly hard-hit will be the Permian Basin of West Texas (Railroad Commission Districts 7C, 8 and 8A), as well as the Eagle Ford shale of South Texas (Railroad Commission Districts 1 and 2). Texas led the nation in oil production at the rate of 3.491 million barrels of oil per day (MMbopd) in November 2014. That figure may begin to fall in the latter part of 2015.

Including federal OCS (offshore) output, Louisiana produced 1.427 MMbopd in October 2014. World Oil expects the state to experience an overall 18.1% drop in the number of wells drilled to 902, although the southern portion, which is devoted primarily to conventional oil drilling, will hold up better.

North Dakota, which produced 1.217 MMbopd in November 2014, will suffer a 30% drilling cut to 1,663 wells, due to reduced activity in the oil-rich Bakken shale play. Oklahoma, which encompasses both conventional oil, and shale oil and gas production, is expected to suffer a 21% reduction in the number of wells drilled, to 2,708.

One of the few bright spots in the U.S. is Pennsylvania, which is the core of the giant, gas-rich, Marcellus shale play. World Oil estimates that gas-directed drilling in the state will actually increase 1.1% to 2,255 wells.

Internationally, E&P activity in Western Canada is being subjected to the same market forces as the U.S. Overall, Canadian drilling is set to drop 30%. Investment in Canada’s oil sands extraction industry is dropping, and shale operators in the Horn River and Montney shales are cutting back on drilling. The one bright spot is offshore, on the East Coast.

In response to declining production, Mexico is ending its monopoly and holding licensing rounds to encourage foreign investment. State oil company Pemex is expected to boost drilling 19.1%, to 593 wells. Throughout South America, drilling is expected to decline 1.2% during 2015, to 3,551 wells. A stand-out in the region is Colombia, which is producing about 1 MMbopd. In Western Europe, drilling activity is expected to reflect weakness in the economy, with an 11.8% decrease to just 480 wells, including declines in the U.K. and Norway.

Activity throughout Eastern Europe, including Russia, is expected to drop 2.7% to 8,281 wells. In Russia, there will be a 2% pullback in drilling to 6,867 new wells. In January 2015, Russian oil production rose to a post-Soviet record of 10.6 MMbopd, indicating the country has yet to feel the effects of sanctions imposed last year.

Due to relatively low lifting costs, oilfield activity will remain fairly robust in portions of Africa and the Middle East that are not adversely affected by internal strife or political activity. Africa, overall, will drill 10.7% fewer wells, or about 1,408, with the two largest oil producers, Angola and Nigeria, expecting reductions. With OPEC throwing down the gauntlet of not reducing production, drilling in the Middle East will drop for the first time in nearly a decade, falling 11.2% to 3,053 wells. However, activity in Saudi Arabia will remain nearly even, at 573 wells.

In South Asia, which includes India, the world’s fourth largest net importer of crude oil, drilling activity is expected to drop 7.4%, to 521 wells. In the neighboring Far East, drilling is expected to increase less than 1%, to 27,225 wells. The region is dominated by China, which is under pressure to reverse declining production from onshore fields and increase exploration activity offshore. In the South Pacific, Australia is on track to take over, from Qatar, the mantle of becoming the world’s leading liquefied natural gas (LNG) producer, despite struggling with rising project costs and high labor rates. About 84% of the region’s 285 wells will be in Australia.

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 

otp.tools.investis.com/clients/uk/...d=351&newsid=1542110