Chariot Oil and Gas plc (LON:CHAR)

Chariot Oil and Gas plc (LON:CHAR)


Share Price
4.93 p
Change
-0.01619 (-0.33 %)
Market Cap
£18.12 m
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Chariot Oil and Gas plc

An independent AIM-listed Atlantic margins oil and gas exploration company:

. Two licences offshore Morocco
. Four licences offshore Brazil
. One licence covering two blocks offshore Namibia
. Holds acreage of c.23,600km2 (gross)
. Highly prospective regions – frontier, established and emerging basins
. Giant potential – 3.5bnbbls+ gross mean prospective resources

EPIC: CHAR
Market: AIM:CHAR
52-week High/Low: 11.45p / 2.05p
Sector: Energy
Market Cap: £18.12 m
Website: www.chariotoilandgas.com
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Big Picture – A Deep Dive Examination of Chariot Oil and Gas plc


Chariot Oil and Gas plc Snapshot

Strategy


Chariot’s goal is to create transformational stakeholder value through the discovery of material accumulations of hydrocarbons.

This will be achieved with a focused strategy:

Access

. Secure large acreage positions in new and emerging basins
. Take operated position in the early phases to maintain control over destiny
. Build a diversity of basins and plays
. Retain broad portfolio and risk profile

De-risk

. Position the portfolio as a Fast Follower
. Apply appropriate risk reduction technologies
. Levered partnering at investment phases
. Maintain portfolio diversity and management
. Maintain Capital Discipline

Drill

. Build a Drill-ready Inventory
. Accelerate the drilling programme
. Return transformational shareholder value by the early monetisation of discoveries

Delivering on the Strategy

Access


. Secured large equity positions in high potential, new and emerging basins characterised by flexible work programmes and excellent contract and commercial terms
. Aquired a balance of assets in three countries, four plays in four licence areas

De-risk

. De-risked multiple assets at low cost through seismic, partnering and third party drilling
. Levered partnering with major industry players: Eni, Woodside, Cairn, BP and Petrobras
. Actively managed the portfolio with both relinquishments and acquisitions
. Demonstrated capital discipline, reducing annual cash from $9.4m in 2013 to $4.2m in 2017

Drill

. Demonstrated operational capability by successfully operating two deep water wells and multiple seismic programmes
. Built a giant-scale drill-ready inventory of high quality opportunities using in-house skills and experience – key to success in farm-outs
. Partner to drill

 

 

Morocco

Emerging hydrocarbon province

“Drill-ready”
The Rabat Deep 1 well demonstrates potential for a new petroleum system
No remaining work programme commitments

Licence Overview

Exploration Detail

Investment Climate

Namibia

Frontier hydrocarbon province

Prospect S post well analysis underway
No remaining work programme commitments

Licence Overview

Exploration Detail

Investment Climate

Brazil

Frontier hydrocarbon province

‘’Drill-ready’’ *
775km2 3D acquired, processed and evaluated
Operator, large equity position, partnering underway
Prospective resources of 911mmbbls**
No remaining work programme commitments

License Overview

Exploration Detail

Investment Climate

George Canjar
Non-Executive Chairman

George has more than 39 years of experience in the oil industry and began his career at Shell, having graduated with a BSc in Geologic Engineering from the Colorado School of Mines. George is currently Executive Vice President of New Ventures for Carrizo Oil and Gas.

His career began with 17 years at Royal Dutch/Shell Oil. He then became a founding member of Carrizo Oil & Gas serving as Vice President of Exploration and Development for seven years. More recently he was Executive Vice President and Chief Operating Officer for Davis Petroleum Corporation for seven years. George then served as Technical Director of Global New Business Development at Hess Corporation between 2012 and 2018.  His career has spanned a broad spectrum of the E&P sector involving all petroleum engineering, development, and exploration disciplines as well as corporate planning and finance. His expertise lies in deal structuring, A&D, portfolio optimization, risk analysis and tactical execution. George has repeatedly been the catalyst that integrated technical management, finance and commercial alignment to project implementation.

 

Larry Bottomley
Chief Executive Officer

Larry has worked in the oil and gas industry for 35 years and has a significant track record of building exploration and production businesses on the international stage, delivering transformational growth and shareholder value.

Larry has worked across a broad spectrum of exploratory and business development roles worldwide, in senior leadership roles with Perenco SA, Hunt Oil, Triton Energy and BP. He has a strong background in integrated geosciences, team management and relationship building and a key aspect of his work has been in the creation, development and delivery of significant drilling programmes that have led to the discovery and development of giant oil fields.

 

Adonis Pouroulis
Non-Executive Director

Adonis, one of the founders of Chariot and its Namibian, 100% owned, operating subsidiary Enigma, is a mining entrepreneur whose expertise lies in the discovery, exploration and development of mineral resources including diamonds, precious / base metals, coal and oil and gas, and bringing these assets into production.

Adonis has worked in the sector for over 25 years and has been influential in the founding, financing and growth of a number of companies, including Petra Diamonds. Adonis founded Petra in 1997 and it became the first diamond company to float on AIM. He has since chaired Petra as it has developed into a mid-tier diamond producer of global significance and London’s largest quoted diamond mining group, moving onto the main market of LSE in 2011. Adonis is the founder and chair of the Pella Resources Group, an African focused natural resource group.  Pella has created a strong track record in exploration and mine development across the continent, with goal to generate early stage private companies and develop them into individual private / public companies.

 

Robert Sinclair
Non-Executive Director

Robert is Managing Director of the Guernsey-based Artemis Trustees Limited and a Director of a number of investment Fund Management companies and Investment Funds associated with Artemis Trustees Limited.

Robert is Chairman of Schroder Oriental Income Fund Limited, Director of Rainbow Rare Earths Limited, Director of EF Realisation Company Limited, Director of Sirius Real Estate Limited and a Director of Picton Property Income Limited, all of which are listed on the London Stock Exchange. He is a Fellow of the Institute of Chartered Accountants in England and Wales and a Member of the Institute of Chartered Accountants of Scotland, and is resident in Guernsey. Robert represents the interests of Westward Investments Limited, a major shareholder of Chariot.

 

Chris Zeal
Non-Executive Director

Chris has over 30 years of experience in the City providing top level advice to boardrooms across a wide range of sectors. In this period he has been retained by some 20 FTSE100 companies including British Gas, Cairn Energy, and Tullow Oil. Most recently he was Managing Director at Jefferies Hoare Govett (a division of Jefferies Inc.) specialising in corporate broking and investment banking. Prior to this, he held a similar role at Citigroup. Originally, he trained and qualified as a Chartered Accountant with KPMG. Chris is a Director of Ventus VCT plc, a company invested in a portfolio of companies operating wind and hydroelectric renewable energy assets in the UK.

 

Significant Shareholders %

Interactive Investor 11.2
Westward Investments (Adonis Pouroulis – Non-Executive Director) 7.8
Hargreaves Lansdown Asset Management 7.8
YF Finance 7.0
Halifax Share Dealing 5.7
Protech Namibia 5.5
Barclays Wealth 5.4
European Investment Management 3.3
Total Board and Senior Management 8.2

Figures as per latest Orient Capital shareholding analysis 31.12.2018

PR/IR Contact 
Celicourt Communications Limited
7-10 Adam Street
London
WC2N 6AA

Tel: +44 (0) 207 520 9273
Mob: +44 (0) 7894 608 607
Email: [email protected]

 

Registered Office
Chariot Oil & Gas Ltd
Regency Court
Glategny Esplanade
St Peter Port
Guernsey
GY1 1WW

 

UK Representative Office
Chariot Oil & Gas Statistics Ltd
19-21 Old Bond Street
London
W1S 4PX
United Kingdom

Tel: +44 (0) 207 318 0450
Email: [email protected]

 

Namibian Office Brazilian Office
Enigma Oil & Gas Exploration (Pty)
Ltd
Building B
First Floor
Erastus Shapumba Towers
Windhoek

Tel: +264 (0) 61 300 470
 

Brazilian Office
Chariot Brasil Petróleo e Gás Ltda
Praia de Botafogo 501, sala 207
Torre Corcovado
Botafogo
Rio de Janeiro
CEP 22 250-0040

Tel: +55 (0) 21 2546 9911

Nominated Advisor & Joint Broker
finnCap Limited
60 New Broad Street
London
EC2M 1JJ
United Kingdom

PR/IR Contact
Celicourt Communications Limited
7-10 Adam Street
London
WC2N 6AA

Tel: +44 (0) 207 520 9273
Mob: +44 (0) 7894 608 607
Email: [email protected]

Registered Office
Chariot Oil & Gas Ltd
Regency Court
Glategny Esplanade
St Peter Port
Guernsey
GY1 1WW

UK Representative Office
Chariot Oil & Gas Statistics Ltd
19-21 Old Bond Street
London
W1S 4PX
United Kingdom

Tel: +44 (0) 207 318 0450
Email: [email protected]

 

Namibian Office
Enigma Oil & Gas Exploration (Pty)
Ltd
Building B
First Floor
Erastus Shapumba Towers
Windhoek

Tel: +264 (0) 61 300 470


Brazilian Office
Chariot Brasil Petróleo e Gás Ltda
Praia de Botafogo 501, sala 207
Torre Corcovado
Botafogo
Rio de Janeiro
CEP 22 250-0040

Tel: +55 (0) 21 2546 9911

 

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