Offshore oil explorer Chariot Oil & Gas, which focuses on the Namibian coast, has identified additional resources in its southern acreage. The 'mega-structure' measures some 500 sq km and the company has increased the estimate of its chances of drilling success at this prospect from 16 per cent to 20 per cent. The new structure increases Chariot's resources by 3.1bn barrels to 13.2bn barrels gross, before adjusting to reflect the risks of exploration. Chariot's share of these resources is 9.7bn barrels.
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