On 2 April 2019, Chariot Oil & Gas (Chariot) was awarded the Lixus Offshore block in the Rharb-PrÃ©rif basin by ONHYM. The area was part of Tanger Larache Offshore license relinquished by Repsol and its partners in November 2014. Four exploration wells were drilled in the block including Anchois gas discovery. The agreement includes 3D seismic reprocessing and evaluation of the additional exploration potential of the block.  An independent audit of Anchois discovery byÂ Netherland Sewell and Associates Inc. ("NSAI") estimates a 2C contingent resource of 307 Bcf. A deeper target not penetrated by the well has 2U prospective resources estimated by NSAI of 116 Bcf, with the Anchois discovery containing a remaining recoverable resource of 423 Bcf. Chariot reported that it had identified five satellite prospects to Anchois that have tie-back potential, three of which have been audited by NSAI, and Chariot estimate that Anchois and the satellites holding remaining recoverable resources in excess of 900 Bcf.  The objectives in the area are the Pliocene and Miocene turbiditic sandstones. Chariot is also evaluating leads identified in the section below the Nappe which has the potential for giant scale prospective resources.     The first development scheme reported by the original partners for Anchois field consisted on a subsea and offshore flowline to pipe the output to the coastline, 40 km from the field. From there, the production would be piped to the facilities (1.5 km) which was connected to the Mahgreb pipeline (35 km). Chariot will alsoÂ further evaluateÂ the gas market, test development concepts through a feasibility study and seek strategic partnerships and alliances to progressÂ towards aÂ development of the Anchois discovery.    Chariot will operate the block with a 75% interest and ONHYM will hold the remaining 25% (carried).  Background Information  Repsol completed completed a 1,022 km 2D seismic survey over the Tanger-Larache exploration licence in 2004, a 532 sq km 3D and 100 km 2D seismic program in 2006 and a 1,336 sq km 3D seismic data programme in May 2010. In February 2007, Dana Petroleum plc effectively acquired a 15% interest from Repsol. Repsol has kept the operatorship and a 36% interest, Gas Natural SDG SA holds 24% while the state Onhym had 25%.   The first well drilled in the area, Larache 1, was abandoned as a dry hole by Burmah in 1974, at a TD of 2,390 m.Â  The second well, Anchois, was suspended by Repsol in March 2011 as a gas discovery after reaching a TD of 2,435 m. Two high quality gas-bearing sand intervals were encountered (porosity 25 to 28%) with a combined gas column of 90 m including 55 m net gas pay. Â After the Anchois 1 discovery, Repsol drilled two other exploration wells, namely Thon Deep 1, which was abandoned in April 2011 as a dry hole at a TD of 1,810 m and Merou 1, which was abandoned in June 2011 as a dry hole after reaching a TD of 2,030 m.    Other prospects, namely Daurade, Merlan, Pageot, Turbot, Lkorb, Saint-Pierre, Sardine and Thon, have been identified from seismic. The Daurade prospect is probably one of the most interesting after Anchois.
Chariot (75% op, Onhym 25% carried) has been awarded the Lixus Offshore (2390kmÂ²) in WD=0->850m. It contains the 2009 Anchois Tertiary gas discovery (300 Bcf 2C) along with deeper potential.