Chariot Ltd. (OIGLF)

[douginil]

Chariot Oil & Gas

[[ Thanks to Malcy's Blog ]]

October 28, 2020

The company says that it has received a non-binding Expression of Interest (EOI) letter from Africa Finance Corp (AFC) a pan-African Multilateral Development Financial Institution, for the provision of development debt finance for the Anchois Gas Discovery, located within the Lixus Offshore Licence, Morocco (“Lixus”), and the development of future discoveries from the wider prospect portfolio of the Licence.

In addition, Chariot has received a non-binding EOI for the provision of Reserves Base Lending for the development of the Anchois Gas Discovery with a Multinational Investment Bank. Chariot say that both EOI’s take into account estimated capex costs of bringing the development online a number believed to be c.$300-500m.

The Lixus licence is identified as being ‘an important strategic asset, with strong Environmental, Social and Governance (ESG) credentials, that has the potential to help Morocco transition to a low carbon economy, as it seeks to satisfy an anticipated doubling in domestic demand for energy over the next 20 years’.

Read more at:
https://www.malcysblog.com/2020/10/oil-price-chariot-oil-gas-and-finally/