Chariot, the Africa focused transitional energy company, is pleased to announce that it has signed a contract with Stena Drilling, one of the world’s foremost independent drilling contractors, to use its Stena Don drilling rig for the planned Anchois gas appraisal well within the Lixus licence, offshore Morocco.

   - Drilling operations anticipated to commence in December 2021 and are expected to take up to approximately 40 days.
   - Stena Don is a semi-submersible rig, suitable for drilling, completion, and workover operations.
   - Appraisal drilling objectives:
     - Unlock the development of the discovered sands by confirming the gas resource volumes, reservoir quality and well productivity.
     - Provide a future production well for the development of the field.
     - Potentially deepen the well into additional low-risk prospective sands with the aim of establishing a larger resource base for longer term growth.

Adonis Pouroulis, Acting CEO of Chariot, commented:

"The signing of this contract is an important moment in our planned drilling campaign for the Lixus Licence, offshore Morocco. We anticipate drilling commencing in December, with the well expected to take up to 40 days to drill. As a team, we have been keenly focused on delivering the drilling campaign that we recently raised money for, and we are pleased that this contract award brings us a step closer to achieving this. We look forward to keeping our stakeholders appraised we get closer to the spud date.”

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European Union (Withdrawal) Act 2018.

About Chariot

Chariot (AIM: CHAR) is an African focused transitional energy group with two business streams, Transitional Gas and Power.
Chariot Transitional Gas is a high value, low risk gas development project with strong ESG credentials in a fast-growing emerging economy with a clear route to early monetisation, delivery of free cashflow and material exploration upside. Chariot Transitional Power, looking to transform the energy market for mining operations in Africa, providing a giant largely untapped market with cleaner, sustainable, and more reliable power.

About Stena Drilling

Stena Drilling is one of the world's foremost independent drilling contractors, a wholly-owned subsidiary of Stena AB.
Stena Drilling has had an active role in the building and conversion of rigs whilst also pioneering some of the most leading-edge technologies and innovations in the drilling world, culminating with the Stena IceMAX, the world's first dynamically positioned, dual mast ice-class drillship, meticulously designed specifically for safe and efficient operations in arctic conditions.