Chariot makes gas discovery at Anchois well

The Anchois-2 well was drilled to a total measured depth of 2512 m by the Stena Don drilling rig in 381 m of water. A net gas pay totalling more than 100 m has been calculated, compared to 55 m in the original Anchois-1 discovery well.

Gas Sand B (the appraisal target) has a calculated total net gas pay of more than 50 m in two stacked reservoirs of similar thickness. The upper reservoir is a continuation of a reservoir drilled in the original discovery well, Anchois-1, with the lower reservoir being newly identified.

Gas Sands C, M & O (the exploration targets) were successfully encountered with multiple gas-bearing intervals across a gross interval of 250 m measured distance with no water-bearing reservoirs identified, materially exceeding pre-drill expectations.

The well will now be suspended for potential future re-entry and completion as a production well in the development of the field.

The Stena Don rig will then move to the Anchois-1 gas discovery well to perform re-entry operations with the objectives of assessing the integrity of the previously drilled well, and if successful, providing a future potential production well for the development of the field.

Adonis Pouroulis, Acting CEO of Chariot, commented: “I am delighted to announce that Chariot, as well as conducting a successful appraisal well operation, has made a significant gas discovery at the Anchois-2 well which materially exceeds our expectations. We continue to conduct further analysis on the data collected from the well, but as it stands, we believe the result is transformational for the Company.

This is a tremendous outcome and I would like to thank ONHYM, our partners on the licence, and everyone involved for their invaluable support, which enabled the well to be drilled safely, successfully and on time during a time of significant operational and logistical challenges posed by the current pandemic.

With the recently announced key terms of gas offtake with a prominent international energy group, interest from two highly regarded institutional lenders to provide debt finance, an ongoing collaboration with a leading constructor of offshore gas projects and now this successful gas well result, the Anchois project is getting closer to helping provide a clean transitional fuel to support Morocco's industrial and economic growth.”

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