EIA Approval received for Loukos drilling campaign

Chariot Limited

05 February 2024

 

5 February 2024

Chariot Limited

("Chariot", the "Company")

Environmental Impact Assessment Approval received for Loukos drilling campaign

Site construction activities have commenced

Chariot Limited (AIM: CHAR), the Africa focused transitional energy group, is pleased to report that it has received approval for its Environmental Impact Assessment ("EIA") from the Unified Regional Investment Committee for drilling activity on its Loukos Onshore licence ("Loukos") onshore Morocco (Chariot, Operator 75%, ONHYM, 25%).

·      The EIA covers a total of 20 well operations, including:

o  Initial drilling campaign of 2 exploration wells on the Gaufrette and Dartois prospects

o  Further 17 candidate well locations

o  Re-entry of an existing gas discovery

·      The permit is valid for a period of 5 years

·      Civil works will now commence to prepare the first well locations and access routes

Pierre Raillard, Head of Gas Business and Morocco Country Director, commented:

"We are very pleased to receive approval of the environmental permit for drilling activity on our Loukos licence. This is not only an important step towards our initial drilling campaign but EIA approval for multiple additional locations gives us flexibility in future campaigns. In addition to this, the land access activities and civil work contracting have concluded, site construction activities are now underway and we are on track for commencement of operations around the end of Q1 2024. I would like to thank the efforts of the Morocco operational team in the progress we have made so far as well as the continuous support and assistance given by ONHYM."  

Enquiries

Chariot Limited Adonis Pouroulis, CEO Julian Maurice-Williams, CFO	[phone]
Cavendish Capital Markets Limited (Nomad and Joint Broker) Derrick Lee, Adam Rae	[phone]
Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart, Ashton Clanfield	[phone]
Celicourt Communications (Financial PR) Mark Antelme, Jimmy Lea	[phone]

NOTES FOR EDITORS:

About Chariot

Chariot is an Africa focused transitional energy group with three business streams, Transitional Gas, Transitional Power and Green Hydrogen.

Chariot Transitional Gas is focused on a high value, low risk gas development project offshore Morocco in a fast-growing emerging economy with a clear route to early monetisation, delivery of free cashflow and material exploration upside.

Chariot Transitional Power is focused on providing competitive, sustainable and reliable energy and water solutions across the continent through building, generating and trading renewable power.

Chariot Green Hydrogen is partnering with Total Eren and the Government of Mauritania on the potential development of a 10GW green hydrogen project, named Project Nour.

The ordinary shares of Chariot Limited are admitted to trading on the AIM under the symbol 'CHAR'. 

https://chariotenergygroup.com

 

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