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Interim Results To June 30 2015 – Chariot Oil and Gas

Chariot Oil and Gas · Sep 23, 2015 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 1
    Growth through Exploration Interim Results to June 30 2015 Morocco Mauritania Brazil Namibia South Atlantic 100 Ma Reconstruction Growth through Exploration 1 www.chariotoilandgas.com September 2015
  2. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 2
    Managing Risk, Creating Value: 2 key things that Chariot has to achieve: DRILL A MATERIAL DISCOVERY PARTNER TO DRILL Interims Activity Overview: Continued to progress all our assets in Morocco, Mauritania, Brazil and Namibia to…
  3. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 3
    Positioning the Portfolio, Protecting Value Drill ready, high margin prospects High margin, deep water assets remain economically robust even at low oil prices US23/bbl US43/bbl as guide range Long licence terms to Partnering;…
  4. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 4
    Protecting the cash: Interim Results for the 6 months to 30 June 2015 6 months to 30 June 2015 6 months to 30 June 2014 Year to 31 December 2014 Unaudited Unaudited Audited USm USm USm Income Statement Extract G&A (2.5) (3.0)…
  5. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 5
    Robust balance sheet to capitalise on market conditions Cash at 31/12/14 (audited) US 53.5m Namibia 2D seismic US(3.4)m Morocco and Mauritania seabed coring US(1.3)m Brazil EIA US(0.7)m Other G&G and G&A US(4.3)m Interest…
  6. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 6
    Activity 2H 1H 2H 1H 2H Country Licence 2018 2015 2016 2016 2017 2017 Rabat Well Partnering Drill JP-1* MOROCCO Near Zero Loukos Cost Drilling* No remaining Partnering commitments Mohammedia 2D 3D Drilling* MAURITANIA Near…
  7. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 7
    Growth Through Exploration September Morocco Mauritania Brazil Namibia South Atlantic 100 Ma Reconstruction Growth through Exploration 8 www.chariotoilandgas.com September 2015
  8. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 8
    Chariot Growth through transformational exploration Morocco High impact Atlantic Margins explorer Priority prospect Prospective resources Giant potential in an extensive portfolio of oil prospects and leads 768mmbbls** Each asset…
  9. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 9
    Building the ideal AiM Company - Focused on Growth ACCESS DE-RISK Secure large acreage positions in new and Apply appropriate risk reduction technologies emerging basins Levered partnering at investment phases Take operated…
  10. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 10
    Chariots ability to prosper in a lower oil price environment POSITIONING PROTECTING DE-RISKING CAPITALISING High margin assets Operatorship and High quality G & G work - Reduced service costs robust economics even at control of…
  11. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 11
    Planned work programme and commitments fully funded 2015 Estimated Capital Expenditure Allocation 31 December 2012 cash 68.3m Business Development 2013 expenditure: (38.0)m 4% Mauritania Farm-in recovery: 26.4m 10% 31…
  12. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 12
    Activity 2H 1H 2H 1H 2H Country Licence 2018 2015 2016 2016 2017 2017 Rabat Well Partnering Drill JP-1* MOROCCO Near Zero Loukos Cost Drilling* No remaining Partnering commitments Mohammedia 2D 3D Drilling* MAURITANIA Near…
  13. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 13
    Track Record Over 200 years of experience in exploration, development and production Participated in the evaluation, access and interpretation leading to the discovery of over 40 fields with 14 major discoveries Management team with…
  14. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 14
    Portfolio theme Nova Scotia Morocco / Mauritania Late Jurassic Reserve 4TCF and associated liquids Panuke Deep (Encana) Sable (ExxonMobil, Shell) Shell has committed 1bn to dw exploration Uruguay Namibia Early…
  15. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 15
    Morocco Ownership Rabat Deep 50% (Op.); Woodside 25%; ONHYM 25% Gas-condensate Gas production Loukos & Mohammedia 75% (Op.); ONHYM 25% discovery Plan to bring in additional partner for 2016 drilling* Repsol Loukos Chariot…
  16. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 16
    Morocco Legacy Jurassic oil production in adjacent onshore area Prospectivity: Jurassic Fairway JP-1 149km2 4-way dip faulted structure of 768mmbbls* JP-2 75km2 faulted LKP-1 structure JP-1 Additional 6 Jurassic leads…
  17. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 17
    Mauritania Chariot acreage Ownership 3D seismic Block C-19 55% (Operator); Cairn 35%; SMHPM 10% Oil Shows C-19 Plan to bring in additional partner for 2016 drilling* Chariot Chariot Activity in 2015 Seabed coring to validate…
  18. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 18
    Mauritania 2 wells in the C-19 block with KT-1 significant oil shows BFT-1 4 nearby discoveries Aigrette, Pelican, Cormoran, & Frgate Frgate opens a new oil play in Late Cretaceous MA-1 PA-1 turbidites, up to 30 metres of net…
  19. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 19
    Brazil Ownership: BAR-M-292, 293, 313, 314; 100% (Operator) OGX Guajuru Prospect Plan to bring in additional partner for seismic and 2017 OGX drilling* Petrobras 1 well 3,000 km2 3D seismic Chariot Planned Activity in 2015…
  20. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 20
    Brazil Only 3 deepwater wells drilled in the basin Presence of excellent Tertiary and Cretaceous turbidite reservoirs Evidence for sufficient burial of the Cenomanian-Turonian source rock for hydrocarbon generation; supported…
  21. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 21
    Namibia Ownership: Gas discovery Central Blocks: 65% (Op.); AziNam 20%; NAMCOR 10%; BEE 5% Excellent reservoir Southern Blocks: 85% (Op.); Namcor 10%; BEE 5% Oil shows Excellent Chariot Activity in 2H 2015 source rocks…
  22. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 22
    Namibia 469mmbbls Central Blocks 15 exploration wells drilled prospect offshore Namibia 8 wells drilled in deepwater (500m) Additional 6 of these wells have been Flat Spot 12 Prospects drilled in the last 2 years and Leads…
  23. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 23
    Outlook - Seeking to build the ideal AiM Company Strategy underpinned by: Diverse asset base with transformational potential Core focus on risk management - partnering and technical development to optimise drilling Strong…
  24. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 24
    Appendices Growth through Exploration 25 www.chariotoilandgas.com September 2015
  25. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 25
    The Management Team 200+ years of experience ; In house technical skill set ; Track record of securing funding and delivering exploration success 30 years experience 15 years experience in exploration and production. Track record…
  26. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 26
    The Non-Executive Team George Canjar, Non-Executive Chairman 30 years with Shell and then Carrizo supervising exploration & seismic operations; deep offshore W. Africa and the Gulf of Mexico Specific expertise in deal structuring,…
  27. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 27
    Corporate snapshot Shareholders (30.06.2015) Market Statistics Share Price (15 Sept 2015): 7.10p Market Statistics (15.07.15) Listing: AIM, London 4% 12% Ticker Symbol: CHAR Director and related No. of Shares in Issue:…
  28. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 28
    Achievements to date Chariot was founded in 2008 with an IPO on AIM raising US90m with a purely Namibia focused portfolio Since 2011 Chariot has developed a balanced portfolio, demonstrating its ability to identify and access high…
  29. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 29
    Portfolio MAURITANIA MOROCCO BRAZIL Chariots Portfolio transposed to the North Sea NAMIBIA Growth through Exploration 30 www.chariotoilandgas.com September 2015
  30. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 30
    Fast follower positioning fundamental to the strategy Morocco and Mauritania Recent Success in Emerging Brazil and Namibia New Understanding in Frontier and Established regions Regions: Growth through Exploration 31…
  31. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 31
    Portfolio maturity Approximate Working Ongoing Significant Seismic Drill Ready Licence Area Contract Area Acquired Interest (km2) Operator Commitments Acquisition To Date (subject to Partnering) Namibia offshore Central Blocks…
  32. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 32
    Prospect Inventory Netherland Sewell and Associates Inc. (NSAI) Based on 3D seismic data: Based on 3D seismic data: Based on 2D seismic data: Netherland Sewell and Associates Inc. (NSAI) Growth through Exploration 33…
  33. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 33
    Countries MOROCCO: MAURITANIA: GDP: US112.6 billion Atlantic Margins Explorer GDP: US4.3 billion Annual Growth: 3.5% Annual Growth: 6.8% Population: 33 million; Inflation: 1.1% Population: 3.5 million; Inflation: 4.4% Major…
  34. Interim Results To June 30 2015 – Chariot Oil and Gas – slide 34
    Commercial terms Indicative Contractor Share* MOROCCO: 100% 50% 0 MAURITANIA: Morocco Chariot Morocco: Chariot Mauritania: Guinea Tax & Royalty: PSC with Tax: 30% Corporation Tax Namibia 27% Corporation Tax Royalty: Oil 7-10%,…

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