Transformational Growth Through Exploration December 2017 Morocco Brazil Namibia South Atlantic 100 Ma Reconstruction 1 December 2017 www.chariotoilandgas.com
Chariot Transformational growth through exploration Chariot USP: High impact Atlantic Margins explorer: Assets in Morocco, Namibia and Brazil Morocco Drill-ready Inventory Prospective resources Portfolio of a Major in scale…
Transformational growth through exploration Why invest in Chariot: Transformational impact in the success case of the fully-funded RD-1 well in Morocco: Material upside in the adjoining Chariot acreage in the success case Downside…
The Investment case Chariot to be exposed to the drilling of three giant potential wells within the next 18 months* Success in any of these wells has the potential to create transformational value Any success de-risks material…
Opportunities in the low-cost environment Drilling costs at historic lows. Down by 65-75% of the 2014 peak, but expected to increase with a return to exploration Rig day rates down from 650k/day to < 200k/day Ayame-1X…
Capital discipline Prudent financial management of funds 2013 to 1H 2017: Reduction in Annual Cash Overhead (m) 2013 to date: 68.3m End 2012 Cash Investment in the portfolio 41.5m 21.7m 1H 2017 Cash Farm-in…
Near-term triggers 1H 2H 1H 2H 1H Country Licence 2018 2018 2019 2019 2020 Rabat Deep Saipem 12000 MOROCCO RD-1 Zero Cost JP-1 Carried well 10% 768mmbbls*** NAMIBIA Central Blocks 2312 & 2412A Drilling* Drilling** No…
Drill-ready inventory of high margin targets in diversity of plays Portfolio of drill-ready assets in emerging and frontier basins - substantial play opening opportunities A range of play types and investment opportunities Water…
Outlook and Objectives Strategy underpinned by: Diverse portfolio and a drill-ready inventory with transformational potential. NAMIBIA MOROCCO BRAZIL Core focus on risk management - partnering and technical development…
Portfolio theme Nova Scotia Morocco Late Jurassic Reserve 4TCF and associated liquids Panuke Deep (Encana) Sable (ExxonMobil, Shell) Argentina / Uruguay Namibia Early Cretaceous Springhill play Repsol et al BP,…
Morocco Summary Ownership Gas-condensate Gas Rabat Deep 10%; Eni (Op.) 40%; Woodside 25%; ONHYM 25% discovery production Mohammedia 75% (Op.); ONHYM 25% Kenitra 75% (Op.); ONHYM 25% RD-1 to spud early 2018 Repsol JP-1 Recent…
Morocco Portfolio SW NE NE Rabat Deep Kenitra Mohammedia R R R R R JP-1 JP-1 Kenitra-A Kenitra-A LKP-2 LKP-2A JP-2 Primary Source R Carbonate Reservoir R Clastic Reservoir LKP-1a LKP-1A Proven source rocks,…
Namibia Summary Ownership Central Blocks: 65% (Op.); AziNam 20%; NAMCOR 10%; BEE 5% Southern Blocks: Option to back-in post drilling for 10% equity at no cost Good Recent Chariot Activity reservoir 2600km2 3D seismic acquired…
Namibia Portfolio R B S V U R R R R R R Primary Source Secondary Source R Primary Reservoir R Secondary Reservoir All petroleum play elements proven by nearby drilling. S94 Wells adjacent to Chariot acreage encountered…
Brazil Summary Guajuru Jubilee Field Prospect Petrobras 1 well 3,000 km2 3D seismic Barreirinhas Basin 131 M signature bonus PTTEP & Mitsui farm ins 8 wells Ownership 5,000 km2 3D seismic BAR-M-292, 293, 313, 314; 100%…
Brazil Portfolio Only 3 deepwater wells drilled in the basin. Presence of excellent Tertiary and Cretaceous turbidite reservoirs. Presence of Cenomanian-Turonian source rocks demonstrated in shallow-water wells drilled in-board of…
Appendices - Corporate 18 December 2017
Corporate snapshot Key Shareholders Market Statistics Shareholders* % Listing AIM, London Total Board & Senior Management 11.1 Ticker Symbol CHAR Including Westward Investments Limited (A Pouroulis - 10.6 Director & Founder)…
The Management Team Over 35 years experience Chartered Accountant with over ten years of Track record of building E&P businesses experience in the oil and gas sector. Developed exploration programmes that led to major Previously with…
The Non-Executive Team George Canjar, Non-Executive Chairman Over 35 years with Shell, Carrizo Oil & Gas and Davis Petroleum supervising exploration & seismic operations; deep offshore W. Africa and the Gulf of Mexico. Specific…
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 a…
Risk Management Strategy ACCESS DE-RISKING Secure large acreage positions in new and Position the portfolio as a Fast Follower emerging basins Apply appropriate risk reduction technologies Take operated position in the early…
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…
Countries MOROCCO: Chariot Morocco: GDP: US103.6 billion ; Annual Growth: 1.2% Atlantic Margins Explorer Population: 33.9 million; Inflation: 1.6% Major Industries: automotive parts; phosphate mining and Tax & Royalty: processing;…
Chariot portfolio and our neighbours MOROCCO Chariots Portfolio transposed on to southern UK BRAZIL NAMIBIA 27 December 2017
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…
Prospect Inventory Netherland Sewell and Associates Inc. (NSAI) Chariot Internal Estimate* Morocco: Namibia: All estimates based on the evaluation of 3D seismic data 29 December 2017
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