(NewsDirect)
Chariot Ltd (AIM:CHAR, OTC:OIGLF) chieffinancial officer Julian Maurice-Williams speaks to Thomas Warner fromProactive after the Africa-focused transitional energy group announcedit has successfully raised $15 million in a recent institutionalfundraising effort. The company is now inviting existing shareholdersto participate in an open offer for up to $3 million at the same priceas institutions.
The funds raisedwill be directed towards the gas side of the business, specificallyfor onshore wells in a new concession in Morocco, whichMaurice-Williams says he expects to be awarded soon. The rationale fordeveloping these prospects is that the revenues they generate may beable to support the development of the Anchois giant offshoredevelopment. Chariot Ltd is actively working on reaching keymilestones for its Lixus Project that contains the Anchoisdiscovery.
The company has already conducted engineering anddesign work and describes itself as being in advanced negotiationswith partners and potential gas buyers, including the Moroccan stateelectricity company. Maurice-Williams says in conclusion that theseven wells that company intends to drill over next eighteen monthsrepresent seven reasons for investors to be excited byChariot.
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