PaulWelch,ChiefExecutiveOfficerofChariot,said:WhilsttheresultsfromKabeljouaredisappointing,thefactthatweencounteredsourcerockwithinthiswellisimportant。

TheNimrodprospectwasourlargesttargetinthesouth,buttherearestillotherareasofinterestinthislicenceandthesewellresultsmayprovideuswiththeabilitytoidentifyadditionalprospectivityinotherhorizons。

Informationofthisdetailisinvaluablewhenworkinginfrontierenvironmentssothiswellwillhaveasignificantimpactonourfutureexplorationprogramme。

WewillbediscussingthesefindingsandthenextstepswithourpartnersPetrobrasandBPandwillupdatethemarketwithplansinduecourse。

OuroverridingstrategyremainsthesamethisisthesecondwellofalargerfourtofivewellprogrammeinNamibiaandwewillcontinuetomoveforwardwithourworkintheCentralandNorthernblocks。

OureffortsinMauritaniacontinuetoprogressasdoourplanstoaddnewassetstoourportfolio。

Thesharepricedropped23%inearlytrading。

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