C-19 is held by Chariot's wholly owned subsidiary, Chariot Oil & Gas Investments (Mauritania) Limited,which has a 90% interest and operatorship in offshore Block C-19 and, covers an area of 12,175km², 30km off the coast of Mauritania. The Company has farmed down its equity stake to Cairn Energy Plc and is now partnered with Capricorn Oil Limited (a wholly owned subsidiary of Cairn), which holds a 35% equity interest, and the Société Mauritanienne des Hydrocarbures et de Patrimoine Minier ("SMHPM"), the National Oil Company of Mauritania, which participates with a 10% carried interest.
Since Chariot’s entry into the region, a number of large industry players have acquired acreage, with recent activity identifying a new oil play in Late Cretaceous turbidites as well as two significant gas discoveries reported from the Tortue and Marsouin wells. This third party exploration provides significant insight into Chariot’s own blocks of interest.
|Asset||Licence||Operator||Interest %||Status Phase||Licence Area km2|
|Block C-19||C-19||Chariot Oil & Gas Investments (Mauritania) Limited||55||Exploration||12,175|
Taxation of oil production: