Transformational Growth Through Exploration Morocco Brazil Namibia South Atlantic 100 Ma Reconstruction 1 June 2018 www.chariotoilandgas.com
Chariot Transformational growth through exploration Chariot USP: High impact Atlantic Margins explorer: Assets in Namibia, Brazil and Morocco 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 funded Prospect S well in Namibia: Material upside in the adjoining Chariot acreage in the success case Downside…
The investment case Chariot to be exposed to the drilling of a giant potential well Q4, 2018 Success in any of Chariots wells has the potential to create transformational value Any success de-risks material running room in each…
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 NAMIBIA Central Blocks PEL 71 Drilling Drilling** No remaining Well Partnering 2312 & 2412A commitments Prospect S Prospect W 65% 459mmbbls***…
Drill-ready inventory of high margin targets in a 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 recoveries…
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,…
Namibia Summary Ownership: PEL 71 Central Blocks: 65% (Op.); Azinam 20%; NAMCOR 10%; BEE 5%. PEL 67 & 72 Southern Blocks: Post-drilling 10% back-in option at no cost. Good reservoir Recent Chariot Activity: 41 API Oil 2600km2 3D…
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…
Morocco Summary Ownership: Gas Gas-condensate production discovery Rabat Deep 10%; Eni (Op.) 40%; Woodside 25%; ONHYM 25%. Mohammedia 75% (Op.); ONHYM 25%. Repsol Kenitra 75% (Op.); ONHYM 25%. Rabat Deep 1 Recent Chariot…
Morocco Portfolio Line 1 RSD-1 Kenitra-1 LKP-2a R R Rabat Deep R JP-1 W E Kenitra LKP-2a 464mmbbls** 263mmbbls* 88km2 143km2 EEI15 (F-N)*F Proven source rocks, modelled mature kitchens and nearby onshore R…
Brazil Summary 2000 m WD Jubilee Field 1 well 1 well Brazil Barreirinhas Basin CGG Multiclient 3D Seismic 400 m WD 14,500 km2 Ownership: 1 well BAR-M-292, 293, 313, 314; 100% (Operator). Chariot 3D seismic 775km2 6…
Opportunity in Brazil Selected Targets SW NE Shell R TP-1 TP-2 R All petroleum play elements proven by nearby drilling. R Shallow water wells in the TP-3 basin have encountered excellent quality, oil-prone source…
Appendices - Corporate 18 June 2018
Corporate snapshot Key Shareholders Market Statistics Shareholders* % Listing AIM, London Total Board & Senior Management 8.2 Ticker Symbol CHAR Including Westward Investments Limited (A Pouroulis - 7.8 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 acreage holdings transposed on to southern UK BRAZIL 26 June 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 Central Blocks…
Prospect Inventory Netherland Sewell and Associates Inc. (NSAI) Chariot Internal Estimate* Namibia: Morocco: Brazil: All Prospective Resource (PR) estimates are gross and based on the evaluation of 3D seismic data 28 June…
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*…
Loading...
