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MOROCCO: Chariot Oil & Gas Awards Drilling Contract Ahead of December Appraisal Drilling

Chariot has announced that it has signed a contract with Stena Drilling 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. Further information can be found at https://www.stena-drilling.com/ourfleet/stena-don/
• Appraisal drilling objectives:
o Unlock the development of the discovered sands by confirming the gas resource
volumes, reservoir quality and well productivity.
o Provide a future production well for the development of the field.
o 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.”

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