Drilling is set to get underway shortly at Chariot Oil & Gas PLC’s (LON:CHAR) Prospect S well offshore Namibia.
A deep-water drillship is due to arrive at the location within the next 24 hours, with spudding of the well expected shortly afterwards. Operations are due to last 40 days.
Chariot holds a 65% interest in the well, which is estimated to be host to up to 459mln barrels of oil with a probability of geological success of 29%.
Chariot shares edged 0.2% higher to 8p on Friday morning.