Maersk Deliverer drilling rig offshore Namibia

licence overview – namibia

Key features of Chariot’s licences:

  • Prospect portfolio includes several large structural traps and combination structural/stratigraphic closures in three different geological settings
  • Prolific hydrocarbon generation is proven in the Orange Basin with the giant Kudu gas field, which appears to be sourced from an oil prone, but locally over mature source rock
  • Extensive seabed gas hydrates, gas chimneys and other direct hydrocarbon indicators ("DHIs"), all positive indicators of both gas and oil generation
  • Past drilling, even where unsuccessful, has revealed interbedded sandstone and shale intervals providing multiple sealed reservoir target levels for future exploration
  • Despite poor trap development on the shelf, discoveries have been made and oil shows encountered, proving a petroleum charge system
  • All elements for a working petroleum system have been demonstrated through recent drilling

Licence details of Chariot Blocks:

Asset Licence Operator Interest
%
Status Phase Licence Area
km²
Block 2312 0071 Enigma 65 Exploration 16,801
Block 2412A
Block 2714A 0072 Enigma 85 Exploration 5,482
Block 2714B 0067 Enigma 85 Exploration 5,463

Taxation of oil production:

  • 5% – state royalty
  • 35% – corporation tax
  • 25% – additional profits tax ("APT") – when IRR > 15%
  • No capital gains tax

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