bp or shell thankyou

BP in area, Looking for growth in the area . Steve has shown its not only about oil, the company is in the gas play as well. The big boys love double plays .

The volumes are amongst the biggest in the world

Article from the Economic Times, International Business.

WHN will be a global player in oil and gas its only a matter of time

LONDON: British oil firm Chariot Oil & Gas said it will partner with BP to look for oil off the coast of Namibia, inking a long-awaited deal to bring in another oil major to explore the deep water block.

Chariot Oil & Gas said on Monday that BP will take a 25 percent stake in block 2714A in return for covering the cost to Chariot of drilling the first exploration well and Chariot's past costs.

"We are delighted to enter into this farm-out agreement with BP whose global expertise of deep water exploration and related petroleum systems is exceptional," said Chariot's Chief Executive Paul Welch in a statement.

Chariot hopes to drill the Nimrod prospect in the 2714A block next year. Geological experts estimate Nimrod could hold around 4.9 billion barrels of oil.

Brazilian state oil company Petrobras owns a 50 percent stake in the block and will act as operator, alongside Chariot and BP which will both hold 25 percent.

BP said in July it would undertake deals to secure new reserves as part of a plan to rebuild the company, a year after it staunched the massive leak at its deep water Gulf of Mexico well.

Chariot also said on Monday that it signed another farm-out agreement with seismic explorer PGS which will acquire a 10 percent interest in two of Chariot's blocks to the North of the 2714A block.

Shares in Chariot closed at 120 pence on Friday, valuing the firm at 217.22 million pounds ($356 million). ($1 = 0.610 British Pounds)