Chariot begins drilling operations at its Loukos Onshore project

THE MORNING

May 02, 2024 At 2:41 p.m.

Cart has just started drilling operations in the license Loukos Onshoreowned 75% by the British company and 25% by theNational Office of Hydrocarbons and Mines (ONHYM). The prospect designated as the first drilling target was named WaferA deposit potential located upstream of discoveries previous gaspresenting technical characteristics similar to those which have been noted in other conclusive operations of the firm in Morocco.

The success of this project will “unlock potential resources combined recoverables according to the best estimate of 26 billion cubic feet,” the company said in a press release, noting that the results will be announced at the end of drilling.

“We are very happy to begin this land campaign, thus kicking off the first drilling campaign for Chariot this year. We also continue to increase prospectivity on this scope as we see significant upside potential both near our high-grade well locations and beyond. I would like to thank our operations team for their hard work and efforts to start this drilling within ten months of allocation of Licence et al’ONHYM for their continued support and partnership. We look forward to providing an update on the results in due course,” emphasizes Duncan Wallacetechnical director of the company cited in the press release.