Mauritania – Gone

And ‘just like that’ in Tommy Cooper style  some of the hottest acreage in West Africa was gone and removed from the Chariot website in quick time – presumably because of the embarrassment.  Years of seismic gathering, interpretation, farmout to Cairn for 3d payback…gone. C19 no more!

The RNS is here.

 

Helioschariot - Mauritania - Gone

Senegal – FAR/Cairn – More success

More success – here –  and another well to start in a few days!
It’s important because Chariot acreage is in the same fairway .. but oilier..

Mauritania – Sterling Energy

Recorded prior to the Kosmos second discovery, and the recent Cairn Senegal appraisal well success.

“Mauritania is the most exciting, …..with Tullow as partner … up to two wells in the next 18 months starting middle of next year”

Also at 26:45

 

Mauritania – Kosmos – Marsouin-1 – Success

The second Mauritania well from Kosmos has once again been successful with an estimated 5Tcf gas find. The result was announced Thursday 12th November. The audio conference was quite telling for any company with acreage in Mauritania – the smallest of which is Chariot 🙂 and of course is looking for a Tier 2 farm-out (to drill).

The audio conference Helios Chariot - Microphonewas primarily a statement by Andy Inglis – CEO (and 30 years BP) , Brian Maxted Chief Explorations Officer (and co-founder of Kosmos) and a very useful Q&A – especially to those who wonder if Chariot will now have their data rooms full to the brim. The presentation is here.

Three messages came through from the CEO

  1. Marsouin-1 C8 – this is the second major hydrocarbon deep-water Mauritania success in 2015 with 70m net pay – 5Tcf. Kosmos stopped before TD as they had enough information but believe there was additional gas – another -2Tcf. The well cost $130m.
  2. There was once again excellent well to seismic calibration and this de-risks the resource basin – this was also a key message on the Tortue Gas Discovery.
  3. Kosmos will now continue to search for oil – and Northern Mauritania and Senegal are most likely to hold oil.

The AVO and Seismic Amplitude accurately predicted reservoir and hydrocarbon pay in both wells. This now allows Kosmos to link to other potential reservoirs and combinations. These first two wells are already the largest gas discoveries in the world this year with the potential for a world class LNG Project on the cards (think Qatar).

Geological data from both wells indicates significant potential for both oil and gas in the basin and to this end there will be 6 additional appraisal and exploration wells over the coming 18 months!

The search for oil in Mauritania is firmly on the cards and the chief exploration officer mentioned several times the  best chance to find it is in Northern Mauritania where same source rocks that charged the gas finds, are more likely to be charging oil. At this point I’ll say it out loud – OUR ACREAGE IS IN NORTHERN MAURITANIA where there are more oil prone fairways and oil shows in our acreage!

Looking at the Chariot October presentation we can now add another discovery to it. The chances of a farm-out have just increased. The chances of a successful drill have also increased. We are the ones with the oily Acreage :-). Its also interesting that Chevron farmed into drill 300 mmbbls and we have potential OIL elephants bigger than that.

Helios Chariot - Mauritania - Key Facts II

Mauritania – Kosmos – Results Due in November

Kosmos followed up on their recent Chevron farm out with a 14 tcf gas find in Mauritania and now a second well (and possibly 5 more) which kicked off in August 2015. This one could be more ‘oily’ than the last one. If this or any of the remaining 5 Kosmos Mauritania drills are successful then this will add fuel to the farm-out process for any company involved, or wanting to be involved in Mauritania. One other small company has an interest in Mauritania – Sterling Energy (SEY). The other oilers are the big guns.  Shell has recently announced its new strategy to target deep water drilling. Mauritania has to be on its ‘sniff list’ with both Morocco and Mauritania being strategically placed to supply gas into Europe via the Morocco-Spain gas link. Will Mauritania become the next Angola? Chevron has gone on record saying they are elephant hunting – no doubt the other large oilers are doing or about to do the same.

Mauritania – Kosmos

An interesting barcap presentation can be found here :  http://www.kosmosenergy.com/pdfs/kosmos-energy-barcap-presentation-Sep-2015.pdf

Having found 14tcf of gas in Mauritania, Kosmos are now on the trail for liquid potential in both Senegal and Mauritania. Kosmos are currently drilling n Mauritania and I expect to see a result announced some time in November.

Note – Cairn are also kicking off a Senegal drilling campaign (similar Geo to our Mauritania acreage) and sharing read-through with Chariot post the largest oil discovery in the world by Cairn in 2014.

Cairn Energy – Senegal Drill Campaign -3 new drills

Following on from the recent world class elephant size commercial oil discoveries in Senegal the partnership has announced 3 more wells and a rig contract which will start the drill bit turning  in a few weeks time. This is important for several reasons

  1. The Senegal acreage is similar to Chariots Mauritania Acreage
  2. The Mauritania acreage has read through from the Senegal acreage  which is being drilled by Chariots Mauritania Partner – Cairn
  3. It looks economic to drill even at $49 current price for Brent.

See here – http://www.oilvoice.com/n/FAR-Ltd-executes-Ocean-Rig-Athena-drilling-contracts-for-offshore-Senegal/f2f53f8945de.aspx

 

Mauritania – Sea Bed Coring Analysis

On the 1st May this year Chariot Oil and Gas and Cairn Energy announced the partnership had won a one year extension on the C19 Block license. I am not sure when the clock started ticking but we are probably 4 months into that 12 month extension. If this hypothesis is correct then 8 months is required to satisfy the requirements of that extension which is:

“As part of the extension, the Partnership has committed to undertake seabed coring studies, which will provide further subsurface detail and serve to further de-risk this part of the portfolio.”

Helios Chariot - Mauritania LicenseSea bed coring has already been completed on Chariot’s Moroccan acreage although  not yet announced by Chariot, and we now understand the importance of sea bed coring analysis as outlined here. Four prospects with a gross mean prospective resource of 434mmbbls (each!) is truly transformational.

So – when will sea bed coring analysis start on Block C19 or has it already started? And when will we farm-out for a Tier 2 Drill? I shall do some more digging to find out, and if you find out before me then thanks 🙂 !! let me know.