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AIM:CHAR

Chariot Oil and Gas plc

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Market:
AIM
Market Cap:
£7.5 m
Price
1.98 GBX
Change
1.54%
52 weeks high
4.75
52 weeks low
1.26

In brief

Creating A Balanced Business with Transformational Potential

Chariot looks to access the giant potential, underexplored regions of the Atlantic margin with the aim of delivering transformational value to its stakeholders through the discovery of material accumulations of hydrocarbons.

Through careful portfolio management; the acquisition, processing and interpretation of extensive 2D and 3D seismic campaigns; and the information gained from the participation in 4 deep water wells, the Company has built a giant potential, drill-ready exploration and appraisal inventory.

In its Lixus licence, Morocco, the Company has acquired an appraisal opportunity with the Anchois-1 gas discovery which has 307Bcf of 2C contingent resources and a further 116 Bcf of 2U prospective resource identified. Across the broader portfolio, Chariot has identified over 5 Bnbbls of gross mean prospective resources which makes up its near term prospect inventory.

The Company seeks strategic and operational partners to accelerate this drilling programme and to share in the risk and reward of exploring and developing these high margin exploration opportunities.

All priority exploration targets offer the potential to deliver transformational value in the success case, with the low risk gas appraisal project in Lixus offering the opportunity to create cash flow to sustain the exploration programme in the long-term. All assets contain a variety of play types, exploration maturity, and significant running room.

Deep dive We explore the investor case for growth companies

Snapshot

“Lixus allows lows us to ally elephant hunting with low-risk product and exploration targets.