Macquarie: Future of Energy 2011 UNLOCKING Global Energy Conference AFRICAS 25-26 May 2011 New York OIL & GAS POTENTIAL www.chariotoilandgas.com 1
Introduction E&P company currently focused offshore Namibia Significant licence area - 8th largest holding offshore West Africa Highly prospective acreage with 15.5 billion barrels (Bbbls) gross mean unrisked prospective resources…
Experienced Team Years of Selected prior experience experience Paul Welch, Chief Executive Officer and Board Member 12 years at Shell, followed by 11years at two independent companies, Hunt Oil and Pioneer Natural Resources 25…
Progress to Date IPOd in May 2008; raised US90 million Exceeded work commitments: Largest exploration programme undertaken offshore Namibia to date Extensive 2D and 3D seismic programmes Cumulative exploration cost US89 million…
Chariots Position in Namibia Chariots Position: 8 offshore blocks, all 100% owned except 2714A (50% with Petrobras), in 3 geologically distinct basins Completed seismic acquisition programmes: Northern Blocks 1,500km2 of 3D…
8th Largest Acreage Holder in West Africa Reported gas discovery Oil shows 5 exploration wells on slope/shelf. No trap Source: Wood Mackenzie pathfinder database, Q1 2011 110km 55km Kudu Gas Field. Development…
Next Steps Sign rig contract Conclude farm-out agreements: Well advanced, expect to secure 2-3 additional partners in near-term Maximise value and manage risk Negotiating from position of strength Update CPR Acquire 2500 km2…
NAMIBIAN PROSPECTIVITY www.chariotoilandgas.com 9
Putting Namibia in Geologic Context Exploration in the South Atlantic has traditionally focused on the Salt Basins. Recent discoveries confirm that prolific source rocks extend both north and south of these salt basins into…
Charge Maturity of Basins Generalized Stratigraphic Column modified from Bray et al 1998. Charge data indicates that Chariots licences are situated in the oil window www.chariotoilandgas.com 11
Northern Area (Blocks 1811 A & B) North of Walvis conjugate with Santos Basin Bottom Simulating Reflectors Indicating possible gas hydrates Tertiary Basin Floor Fan/Channel complexes Aptian (or older) Carbonates Cretaceous…
Northern Area (Blocks 1811 A & B) Draped Structural Closures Amplitude map W E Erosional Erosional Highs Highs with with mobile mobile salt salt Canyon fill channels Draped anticlines Preliminary Preliminary with…
Northern Area (Blocks 1811 A & B) Tapir North, Palaeocene Sands AVO Anomaly EEI Chi angle 30 deg Both anomalies are just below top Palaeocene Intercept*Gradient EEI Chi angle 30 deg www.chariotoilandgas.com 14
Northern Area (Blocks 1811 A & B) Zamba Lead Sub-Salt Carbonate Reservoir Mobile salt on Zamba Karst features on high Zamba crest Block 1811 is north of Walvis ridge conjugate to the Santos Basin www.chariotoilandgas.com 15
Central Area (2312 A & B, 2412 A & B North) Upper Cretaceous Fans & mature Synrift source Cenozoic gas Cretaceous Basin Cretaceous Basin hydrates floorfan floor fan // channel channel complexes complexes Cretaceous…
Central Area (2312 A & B, 2412 A & B North) Planned Work to mature Leads to Prospects Acquisition of 3D seismic survey, area 2500km2 approx. www.chariotoilandgas.com 17
Southern Area (2714 A & B) Upper Cretaceous basin floor fans Aptian Source Interval Albo-Aptian sands with high amplitudes Lower Cretaceous Basement Barremian Barremian stratigraphic stratigraphic pinch- Source Interval…
Southern Area (2714 A & B) Area covered by 3D Nimrod Prospect Dora Prospect Isabel B L D Large structures including C NIMROD mega-structure form A prospects at Albian K sandstone target level. G Deeper Barremian…
Southern Area (2714 A & B) Nimrod Prospect www.chariotoilandgas.com 20
Southern Licences (2714 A & B) How big is a 500 km2 Prospect Nimrod Prospect area www.chariotoilandgas.com 21
Probabilistic Prospective Resource Volumes Gross attributable to Licence in MMboe Net attributable to Group MMboe Probabilistic Volume Method Low Best High Low Best High Working Region Status (Monte Carlo Simulation) Estimate Estimate…
Valuation Comparables - Significant Upside Potential 10.00 9.00 8.40 8.00 7.00 6.00 /BBL US 2.25 5.50 5.00 Chariot Risked EMV 4.00 Value per barrel (Risked) 3.00 2.00 1.01 1.00 0.20 0.00 Chariot- Peer Average Recent…
Summary entering exciting new phase Enviable position in Namibia Significant acreage position in 3 geologically distinct basins 8th largest holding offshore West Africa Increased gross mean un-risked prospective resources from…
APPENDICES www.chariotoilandgas.com 25
Company History and Corporate Structure 2007: Guernsey based Company formed to acquire 2 exploration businesses with Namibian licences Initial exploration work commences Chariot Oil & Gas Limited 2008: (incorporated in Guernsey) +…
Senior Management Alex Green, Commercial Manager Over 20 years experience in business development and commercial and financial analysis in the upstream oil and gas sector Previously worked for Clyde Petroleum, BG Plc, Paladin…
Other Board Members Adonis Pouroulis, Non-Executive Chairman Extensive experience in the exploration and mining sector, primarily on the African continent Expertise lies in the discovery and exploration of natural resources and bringing…
Company Information Listing: AIM, London Joint Brokers: RBC Capital Markets UBS Investment Bank Ticker Symbol: CHAR Number of shares in issue: 181,019,096 NOMAD: RBC Capital Markets Fully diluted: 186,739,096 Significant Shareholders:…
Namibia - Licence Details of Chariot Blocks Asset Licence Operator Interest % Status Phase Licence Renewal Date Licence Area Km Offshore Basins Block 1811A&B 14 Enigma 100 Exploration 27 October 2012 5,481 Block 2312A&B 19 Enigma 100…
Namibia Investment Climate GDP: US11.45 billion (2010 estimate) Annual Growth: 4.1% (2010 estimate) Population: 2.1 million Inflation: 4.6% (2010 estimate) Major Industries: Mineral production, game and cattle ranching, fishing,…
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