Chariot Ltd on Tuesday said that drilling operations have started at the Anchois East well, located offshore Morocco, following the arrival of the Stena Forth drillship.

Chariot is a London-based transitional energy company focused on Africa.

Drilling and flow testing operations at the well, known as Anchois-3, are expected to take two months. Chariot expects to be fully carried for the costs of the campaign.

An initial pilot hole will be drilled, followed by a side-track, after which well-flow testing will be performed. This will help to evaluate reservoir and well productivity.

‘We are very pleased to commence this highly anticipated well at the Anchois gas field. We see significant upside potential and value from the prospective resources in the pilot hole and main hole targets which could increase the resource base to over 1Tcf and we look forward, on success, to moving towards a final investment decision as quickly as possible,’ said Chief Executive Officer Adonis Pouroulis.

Shares in Chariot were down 0.6% to 6.60 pence each in London on Tuesday afternoon.

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