chariot quits offshore Morocco license

摘要

Cape Town-UK-listed explorer Chariot Oil & Gas said Wednesday that the Casablanca/ Safi license offshore Morocco was too high a risk to warrant further investment and has relinquished the block to focus on the poten- tial identified in the Loukos block. The company said the associated risk was too high to justify additional investment in the Casablanca/Safi license and said it has elect- ed not to enter into the first extension period in the permit, which will now be returned to the Moroccan government.