Transformational Growth Through Exploration Morocco Brazil Namibia South Atlantic 100 Ma Reconstruction 1 April 2018 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 Rabat Deep 1 well in Morocco: Material upside in the adjoining Chariot acreage in the success case…
The Investment case Chariot to be exposed to the drilling of two giant potential wells this calendar year Success in any of these wells has the potential to create transformational value Any success de-risks material running room in…
Why now An opportunity to accelerate at low cost 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…
Near-term triggers 1H 2H 1H 2H 1H Country Licence 2018 2018 2019 2019 2020 Rabat Deep Saipem 12000 MOROCCO RSD-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…
Capital discipline Prudent financial management of funds 2013 to 2017: Reduction in Annual Cash Overhead (m) 2013 to date: 68.3m End 2012 Cash Investment in the portfolio 41.5m 15.2m* 2017 YE Cash Farm-in…
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% Rabat Deep 1 currently drilling Repsol JP-1…
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 reservoir Recent Chariot Activity 41 API Oil 2600km2 3D seismic…
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 April 2018
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 10 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…
Team 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…
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…
Progress to date Acquired BAR-M- Acquired Mohammedia Re-award Central blocks Acquired Mohammedia & Kenitra Option Southern 292,293,313,314 Brazil Recon Morocco Namibia Morocco Blocks, Namibia Relinquished Casablanca Relinquished…
Countries MOROCCO: Chariot Morocco: GDP: US103.6 billion ; Annual Growth: 1.2% Atlantic Margins Explorer Population: 33.9 million; Inflation: 1.8% Major Industries: automotive parts; phosphate mining and Tax & Royalty: processing;…
Chariot portfolio and our neighbours MOROCCO Chariots Portfolio transposed on to southern UK BRAZIL 26 April 2018
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 16,800 3000km…
Prospect Inventory Netherland Sewell and Associates Inc. (NSAI) Chariot Internal Estimate* Morocco: Namibia: All Prospective Resource (PR) estimates are gross and based on the evaluation of 3D seismic data 28 April 2018
Exploration investment, Production and Reserve replacement Change in organic upstream capex for NOCs, IOCs and Independents (%YOY) Annual Production (mmboe) Oil Production by region Reserves (Bboe, bar) 33 Bbbls pa Reserves life*…
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