Growth through Exploration March 2014 Morocco Mauritania Brazil Namibia South Atlantic 100 Ma Reconstruction Growth through Exploration 1 www.chariotoilandgas.com March 2014
Growth through Exploration Focused Strategy Commitments Experienced Fully Funded E&P Team WHY CHARIOT High Quality Multiple Value Exploration Triggers Portfolio Growth through Exploration 3…
Why Chariot Chariot investment case High Quality, High potential, Large Scale Opportunities Morocco 8 licence regions, of which Chariot is operator in all but one Total resource exposure of 2 bn+ bbls in prospects and leads…
Focused Create transformational stakeholder value Strategy through the discovery of material hydrocarbon accumulations Execute the programme on our Access new exploration Implement risk management current acreage on an…
Experienced Track record of discovering E&P Team material hydrocarbon accumulations Over 200 years of experience in exploration, development and production Participated in the evaluation, access and interpretation leading to the…
High Quality Portfolio Theme Exploration Atlantic Margin Petroleum systems Portfolio Exploiting over 200years of expertise Nova Scotia Morocco / Mauritania Late Jurassic Reserve 4TCF and associated liquids Panuke Deep (Encana)…
High Quality Potential of Chariot's portfolio Exploration Regional prospectivity material to high quality Portfolio neighbours 250000 MAURITANIA MOROCCO 200000 150000 Market Cap (USm) 100000 BRAZIL 50000…
Multiple Value High quality exploration portfolio with Triggers multiple value triggers MOROCCO: Atlantic Margins Explorer MAURITANIA: Industry: Industry: 10 NFW wells over the next 2 years 5 NFW wells over the next 2 years Chariot…
Commitments Work programme and commitments Fully Funded fully funded 31 December 2012 cash 68.3m 2013 Expenditure: Exploration expenditure (37.6)m Mauritania farm out proceeds 26.0m (37.6)m (11.6)m 31 December 2013 cash 56.7m…
High Quality Morocco Exploration Drill ready 2015* Portfolio Fast Follower in Hot Basin Ownership Rabat Deep, Loukos & Mohammedia 75% (Operator); ONHYM 25% Farm-outs to bring in seismic and drilling partners for 2 wells* in…
High Quality Chariots position in Morocco Exploration Chariot portfolio in the fairways with third party drilling Portfolio Pliocene Fairway Pliocene Lead 1 Wells to be drilled by third parties in the next year Large, attribute-…
High Quality Mauritania Exploration Drill Ready 2014* Portfolio Fast follower with zero cost option in a proven basin Ownership Block C-19 55% (Operator); Cairn 35%, SMH 10% Oil Shows C-19 1st Tier Farm-out (35% Cairn 2013)…
High Quality Chariots position in Mauritania Exploration Proven petroleum system with near-term third party Portfolio activity Neogene fan 2 wells in the block with significant oil shows 4 nearby discoveries in Cretaceous…
High Quality Namibia Exploration Drill Ready 2014* Portfolio Underexplored frontier province with giant potential Ownership: Gas discovery Northern Blocks: 100% (Operator) Excellent reservoir Central Blocks: 90% (Operator),…
High Quality Chariots position in Namibia Exploration Frontier province with all the components of working Portfolio petroleum systems confirmed 14 exploration wells drilled Sub-salt offshore Namibia Carbonate play 7 wells…
High Quality Brazil Barreirinhas Basin Exploration Drill Ready 2016* Portfolio Fast follower with a low cost seismic option Ownership: BAR-M-292, 293, 313, 314 OGX OGX 100% (Operator) Petrobras Chariot Confirmed Activity in…
High Quality Brazil & Ghana - Conjugate Atlantic Margin Plays Exploration Clastic Rift Clastic Passive Margin Portfolio Jubilee discovery (Kosmos/Tullow) Barreirinhas Basin Growth through Exploration 18…
High Quality Brazil Barreirinhas Basin Exploration Fast follower with a low cost seismic option Portfolio Tertiary and Upper Cretaceous turbidite potential On-block evidence for sufficient burial of the Cenomanian-Turonian…
High Quality High quality exploration portfolio with Exploration Portfolio multiple value triggers MOROCCO: Atlantic Margins Explorer MAURITANIA: Industry: Industry: 10 NFW wells over the next 2 years 5 NFW wells over the next 2…
High Quality Portfolio Materiality Exploration Transformational opportunities Portfolio with giant follow on potential Prospect inventory has a range of Higher technical maturity, with Namibia Central drill-ready * The…
High Quality Portfolio Maturity Exploration Portfolio Executing the programme Working Approximate Ongoing Drill Ready Contract Area Acquired Licence Area Operator Commitments 2D 3D Interest (subject to Partnering) (km2) Namibia…
Multiple Value Upcoming Triggers Triggers A pipeline of drilling opportunities for long term sustainable growth Licence 2014 1Q 2014 2Q 2014 3Q 2014 4Q 2015 1H 2015 2H Morocco Rabat Deep Loukos Acquire 3D seismic Process and…
Create transformational stakeholder value through the discovery of material accumulations of hydrocarbons Focused Experienced Quality Multiple Commitments Strategy Team Portfolio Triggers Fully Funded Explore in new or emerging…
Why Chariot Chariot investment case High Quality, High potential, Large Scale Opportunities Share Price Performance 225 75.0 8 licence regions, of which Chariot is operator in all but one Total resource exposure of 2 bn+ bbls in…
Appendices Growth through Exploration 26 www.chariotoilandgas.com March 2014
Corporate snapshot Shareholders Market Statistics Market Statistics (28.02.2014) Listing: AIM, London Ticker Symbol: CHAR No. of Shares in Issue: 201,789,805 Share Options 4,000,000 Share Awards under employee LTIP…
Achievements to date Since listing Chariot has developed a balanced portfolio, demonstrating its ability to identify high potential, early entry regions, secure key industry partners and funding in order to mature its assets and…
Focused Position portfolio from Strategy Play Opener to Fast Follower Lifecycle of the value drivers and risks in a typical basin Fast Play Openers Gatherers Niche Followers Cumulative reserve Access cost Value potential…
Chariots Portfolio transposed to the GoM 200km MOROCCO MAURITANIA BRAZIL NAMIBIA Growth through Exploration 30 www.chariotoilandgas.com March 2014
Namibian Exploration Maturity The Namibian Atlantic margin is comparable in area to: The UKCS North Sea; the Santos,Campos, and Espirito Santo basins of Brazil; and the GoM The Central blocks region is comparable in area to: The…
Recent Drilling Activity in Namibia Kabeljou-1 Sept-2012 Petrobras (CHAR, 25%) Target was poor reservoir Encountered thick, excellent source rocks in C-T Proved source rock mature for hydrocarbon generation Wingat-1 Mar-2013 HRT…
People Sunrise in Damaraland, Namibia Growth through Exploration 33 www.chariotoilandgas.com March 2014
Experienced team Over 200 years collective experience Larry Bottomley Matthew Taylor Mark Reid Duncan Wallace Julia Kemper CEO and BOD member Exploration Director CFO and BOD member Exploration Manager Principal Geophysicist and…
Other board members 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,…
Investment climate and licence terms Growth through Exploration 36 www.chariotoilandgas.com March 2014
High Quality Established, Emerging & Frontier Exploration Exploration Portfolio Our Portfolio Countries WHY MOROCCO WHY MAURITANIA Atlantic Margins Explorer Underexplored with a number of high Focus of renewed exploration by…
High Quality Established, Emerging & Frontier Exploration Exploration Portfolio Our Countries MOROCCO: MAURITANIA: GDP: US104.8 billion Atlantic Margins Explorer GDP: US4.1 billion Annual Growth: 5.1% Annual Growth: 6.4%…
Multiple Value Very Competitive Commercial Terms Triggers Our Portfolio Countries Indicative Government Share* MOROCCO: MAURITANIA: 0 50% 100% Chariot Morocco: Nigeria Chariot Mauritania: Tax & Royalty: Angola PSC with Tax:…