Chariot to raise £90m to fund Namibia exploration

first_imgMonday 7 March 2011 8:34 pm More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her whatsapp whatsapp Chariot to raise £90m to fund Namibia exploration Tags: NULL Share CHARIOT Oil & Gas said yesterday it expects to raise about £90m through a discounted share placing to help fund its exploration programme as it plans to drill its first well in offshore Namibia in late 2011. The Africa-focused oil and gas exploration company said yesterday it has placed about 36m shares at 25p each, an 18 per cent discount to the stock’s Friday close. “The funds will enable Chariot to participate in a minimum of two wells and conduct a further 5,000 square kilometres 3D seismic programme across areas of specific interest in the central blocks,” the company said in a statement. In July of last year, Chariot had said it expected to start production in 2013-14 after drilling its first well in offshore Namibia in 2011. Chariot Oil shares, which have risen 32 per cent since a resources update in January, lost 11.6 per cent to close at 270.5p yesterday. KCS-content Show Comments ▼last_img read more