AziLat Ltd., Secures Acreage Position Offshore Brazil

HAMILTON, Bermuda, Aug. 20, 2014 /CNW/ - AziLat Ltd. ("AziLat"), the South 
America focused oil and gas exploration company, is pleased to announce that 
it has signed a farm-in agreement ("the farm-in") with Chariot Brasil 
Petróleo e Gás Ltda., a wholly owned subsidiary of Chariot Oil & Gas Limited 
("Chariot") to blocks BAR-M-292, BAR-M-293, BAR-M-313 and BAR-M-314 ("the 
blocks"), in the Barreirinhas Basin, offshore Brazil. 
Under the terms of the farm-in, which is subject to approval of Brazilian 
authorities, AziLat, through its local subsidiary AziBras Exploração de 
Petróleo e Gás Ltda. ("AziBras"), will pay 50% of the 3D seismic acquisition 
programme and related processing costs incurred across the blocks in exchange 
for a 25% working interest. 
Following the completion of the transaction, the working interest positions in 
blocks BAR-M-292, BAR-M-293, BAR-M-313 and BAR-M-314 will be as follows: 
Chariot                 75% (Operator) 
AziLat                                          25% 
The blocks are located in the Barreirinhas Basin, on Brazil's Equatorial 
Margin, approximately 70km offshore, and cover an area of 768km² with water 
depths ranging from 85m to 1,700m. The Barreirinhas Basin has analogues with 
prolific West African Basins in Côte d'Ivoire and Ghana, where major oil and 
gas fields have been discovered. 
Michael Stewart, Managing Director of AziLat, commented: 
"We are very excited with this agreement which marks AziLat's entry into the 
region and further deepens our relationship with Chariot, with whom we are 
already a partner in a number of blocks offshore Namibia through AziLat's 
sister company, AziNam. The Barreirinhas Basin remains underexplored with 
modern 3D seismic and offers huge potential on a coastline that has yielded 
some of the largest discoveries of the last decade. With the financial backing 
of Seacrest Capital Group, we look forward to advancing the exploration 
activities in these four blocks, in other areas offshore Brazil and the wider 
South American region." 
Notes to Editors: 
AziLat is a Seacrest Capital Group backed E&P company, focused on South 
America. 
Seacrest Capital Group is a leading energy investor specialising in offshore 
exploration, leveraging its proprietary assets and relationships to build a 
diversified, global portfolio of regionally focused oil and gas exploration 
companies. Since 2011, Seacrest Capital Group has created and invested in a 
number of successful exploration companies in the United Kingdom and Norwegian 
North Sea, West Africa, Ireland and South East Asia.
 

SOURCE  AziLat Ltd. 
Contacts: AziLat Limited,Daniel McKeown, http://www.azilat.com, 
+1-441-537-2073; Vigo Communications, Patrick d'Ancona, Chris McMahon, 
http://www.vigocomms.com, +44(0)20-7016-9570 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/August2014/20/c2838.html 
CO: AziLat Ltd.
ST: Bermuda
NI: OIL  
-0- Aug/20/2014 07:18 GMT
 
 
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