Morocco – Chariot – Sea Bed Coring Complete

Good news – Woodside have confirmed via their half yearly results June 2015 that the Seabed coring work that Chariot needs to perform for Rabat Deep in Morocco has been done (thanks to Poll on LSE for digging this one out). Chariot have not confirmed this via an RNS but I am pretty confident that if it is in the Woodside report that it has happened! It does not mention Chariots name other than to say ‘the operator’.

The Rabat deep sea bed coring was scheduled initially for Q1 2015. It looks like Chariot’s timeline has slipped two quarters to Q3 2015 in its delivery.

The RNS can be found here. There also remains the question of the remaining funds (the majority already received via the farm-out) which were due to be received in Q1. I have not seen any news regarding this final payment.

For completeness – Woodside elected not to exercise its option to take operatorship as outlined in the RNS here.

Helios Chariot - Woodside 2015 Half Yearly Report - Rabat Deep