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Chariot rig arrival highlights high-impact Anchois drilling says broker

Peel Hunt It expects drilling operations on the Anchois 2 appraisal/exploration well to commence immediately.

Chariot has confirmed that the Stena Don drilling rig has now arrived on location in the Lixus concession, offshore Morocco, noted Peel Hunt.

It expects drilling operations on the Anchois 2 appraisal/exploration well to commence immediately.

This is to be followed by re-entry of the existing Anchois 1 discovery well; both wells are planned to be completed as future producers to be part of field development.

Peel Hunt added its published risked/unrisked valuation for Anchois stands at 23p/94p, indicating the potential prize on offer in the event of full commercial exploitation of Anchois’ PHe c.360Bcf 2C gas resource.

Buy with a target price of 15p is the broker’s view.

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2021-12-15 09:20:00

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