Proactiveinvestors United Kingdom Chariot Oil and Gas plc https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Chariot Oil and Gas plc RSS feed en Mon, 27 May 2019 05:12:00 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Director's Dealings ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190521070024_14080986/ Tue, 21 May 2019 07:00:24 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190521070024_14080986/ <![CDATA[RNS press release - Director's Dealings ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190520104502_14080149/ Mon, 20 May 2019 10:45:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190520104502_14080149/ <![CDATA[News - Chariot Oil & Gas firms up potential at Lixus acquisition with CPR ]]> https://www.proactiveinvestors.co.uk/companies/news/219987/chariot-oil--gas-firms-up-potential-at-lixus-acquisition-with-cpr-219987.html How is it doing

Chariot Oil & Gas Ltd (LON:CHAR) has long had an impressive record of getting things done operationally.

But, some of the exploration operations failed to deliver the blue-sky discoveries hoped for by investors.

In many ways, the Lixus acquisition is something of a game-changer as breaking from the past, the company has picked up new acreage that already has a discovery.

It is a switch from high-risk wildcat drilling to a lower risk appraise-and-explore approach.

There’s still the requisite upside potential and blue-sky to keep Chariot’s stock market following engaged, though this time it is grounded in more certainty than the big-hit-or-big-

miss type projects that have been pursued in the past.

The Lixus licence is host to the Anchois-1 gas discovery well in the west, which at the time already has some 307bn cubic feet contingent resources, some 116bn cubic feet of

deeper un-tested upside, and, nearby satellite exploration prospects presently amounting to some 527bn cubic feet.

A CPR in May for the satellite for the satellite prospects to Anchois (70mln and 100mln barrel equivalent, which includes a 50bn equivalent target in Anchois North which can be

drilled and tied back to the original discovery.

Options here are to extend the life of the Anchois licence or to increase production through offtake deals.

What the boss says: Larry Bottomley

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

“It is just to the north of our existing assets in Morocco and has a low work commitment: These are a processing campaign, feasibility study, appraisal of gas market and a decision on how to finish the programme."

  What the boss says: Larry Bottomley

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

“It is just to the north of our existing assets in Morocco and has a low work commitment: These are a processing campaign, feasibility study, appraisal of gas market and a decision on how to finish the programme."

  Video

 

 

 

  Blue Sky

In a note to clients, analysts at ‘house’ broker finnCap said: “Chariot’s rating has been heavily depressed by the two dry holes last year in Morocco and Namibia and the need to secure funding for additional drilling.

 “With data rooms open in three regions – Brazil, Morocco and Namibia – and now a range of risk/reward opportunities within Morocco, the prospects for a successful farm-out must have been improved by this latest licence award.

Finncap said the satellite prospects offer material upside/running room.

“The CPR validates and raises management’s previous gas resource estimates for these prospects by 6% to 1 tcf.

"At this early stage, we are only adding the Anchois North priority prospect to our risked-NAV, which raises this and our price target from 37p to 41p/sh.

"However, these satellite prospects offer significant further upside potential and running room to our NAV over time as they mature and likely form an important part of the farm-out negotiations for this acreage."

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Thu, 09 May 2019 14:08:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219987/chariot-oil--gas-firms-up-potential-at-lixus-acquisition-with-cpr-219987.html
<![CDATA[Media files - Chariot Oil & Gas announces resource upgrade at recently acquired Anchois project ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13272/chariot-oil--gas-announces-resource-upgrade-at-recently-acquired-anchois-project-13272.html Thu, 09 May 2019 08:10:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13272/chariot-oil--gas-announces-resource-upgrade-at-recently-acquired-anchois-project-13272.html <![CDATA[News - Chariot Oil & Gas reveals quick-fire resource upgrade for new Morocco asset ]]> https://www.proactiveinvestors.co.uk/companies/news/219941/chariot-oil--gas-reveals-quick-fire-resource-upgrade-for-new-morocco-asset-219941.html Chariot Oil & Gas Limited (LON:CHAR) has unveiled a new independent report that somewhat quickly underlines the significant opportunity presented by its recently acquired Anchois project, offshore Morocco.

A competent persons report, penned by consultant Netherland Sewell & Associates, delivers an upgrade to the Anchois gas resources up to around one trillion cubic feet.

The upgrade comes as satellite prospects such as ‘Anchois North’ are pulled into the estimates of the main project.

WATCH: Chariot Oil & Gas targets lower-risk growth with new Morocco asset

Anchois North was seen by Netherland Sewell to be a ‘low risk’ prospect with 308bn cubic feet of gas resources, and, a 43% chance of geological success.

Chariot highlighted that five further satellite prospects could potentially be added, and, accordingly a further CPR is anticipated once a seismic data reprocessing exercise is completed.

"This independent third party evaluation confirms that the Anchois discovery and its nearby satellite prospects presents Chariot with an exciting and commercially attractive development opportunity,” said Larry Bottomley, Chariot chief executive.

“The combination of a de-risked resource base in a fast-growing energy market, with high gas prices and a need for increased supply is highly attractive to a wide range of strategic partners throughout the energy value chain.”

Bottomley added: “We anticipate a period of sustained news flow on this exciting project going forward, which should further unlock the value of the Lixus licence, with the results of the feasibility and gas market studies expected to be announced in due course."

Low risk, low cost acquisition

In early April, Chariot announced the acquisition of the Lixus licence, which hosts Anchois. It took up a 75% stake in the asset, alongside state-backed partner ONHYM with 25%.

It is anticipated that Anchois can be the starting point for a hub-approach to exploration and development.

At the time, the company noted that the project had “world class” commercial contract terms and that the asset acquisition comes with minimal licence commitments, which will be funded from current cash resources. It anticipates a future development which would deliver strong returns and significant cash flow.

The acquisition came after last summer’s disappointing outcome of the Rabat Deep exploration well, offshore Morocco, and, after the Prospect S well offshore Namibia failed to make a big discovery.

Investor evidently welcomed the step away from higher risk frontier style exploration as Chariot shares are up more than 100% over the weeks following the deal.

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Thu, 09 May 2019 07:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219941/chariot-oil--gas-reveals-quick-fire-resource-upgrade-for-new-morocco-asset-219941.html
<![CDATA[RNS press release - CPR on the Anchois Discovery, Morocco ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190509070002_14067302/ Thu, 09 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190509070002_14067302/ <![CDATA[Media files - Chariot Oil & Gas targets lower-risk growth with its offshore Morocco acquisition ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13034/chariot-oil--gas-targets-lower-risk-growth-with-its-offshore-morocco-acquisition-13034.html Wed, 17 Apr 2019 09:51:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13034/chariot-oil--gas-targets-lower-risk-growth-with-its-offshore-morocco-acquisition-13034.html <![CDATA[News - Chariot Oil & Gas highlights strong cash position and Morocco acquisition boost ]]> https://www.proactiveinvestors.co.uk/companies/news/218298/chariot-oil--gas-highlights-strong-cash-position-and-morocco-acquisition-boost-218298.html Chariot Oil & Gas plc (LON:CHAR) today highlighted its strong cash position, having revealed a transformational Moroccan acquisition last week.

The company said it ended 2018 with US$19.8mln of cash and was debt free. It is fully funded for current work commitments which are low, at less than US$1mln.

Chariot participated in two drill programmes in 2018 and while neither proved successful, the company noted that they were executed at the ‘optimum point in the cost cycle’. Its share of the Rabat Deep well was covered at zero cost, while the Prospect S offshore Namibia was the lowest cost deepwater well drilled last year (at US$16mln it was significantly under budget).

WATCH: Chariot Oil & Gas expands Morocco footprint

The pre-revenue explorer reported a US$15.1mln loss for the year, including US$10.8mln of impairments against exploration assets and US$3.3mln of administration expenses.

Chariot retained a portfolio with significant exploration potential though, as FinnCap analyst Jonathan Wright points out, the group’s shares don’t credit the company with any value for these assets.

In a note this morning, the analyst said: “The shares still trade at negative enterprise value, suggesting the market ascribes no value to its extensive acreage position.

“The market tends to shun companies without visible drilling plans or funding. However, Chariot has a strong partnering history and data rooms open covering a range of prospect/play types.”

New acquisition opens lower-risk growth

Chariot last week captured the attention of investors, however, with its new acquisition offshore Morocco.

It picked up the Lixus licence which includes the already discovered Anchois gas project – comprising some 307bn cubic feet of contingent gas resources and more than 600bn cubic feet of additional resource upside potential via low-risk follow-up exploration.

Lixus opens up a new kind of growth strategy for a company that has in the past focused on higher risk or ‘wildcat’ frontier exploration prospects.

The company noted that the assets came with minimal initial commitments and that future development is expected to deliver strong returns and significant cash flow.

"Chariot has had an exciting start to 2019 with the recent award of the Lixus licence offshore Morocco.

“The addition of discovered resources rebalances the portfolio providing a near-term development opportunity, low-risk exploration upside and ultimately a sustainable footing to continue to pursue our high impact exploration portfolio.

“We will be looking to source strategic partners to develop the Anchois-1 gas discovery.”

Balanced portfolio

At the same time, Bottomley noted that Chariot is also still committed to advancing its high impact exploration prospects.

He added: “The shift in the balance of risk and reward with the addition of the Lixus licence fulfils the company's goal of seeking an opportunity to generate cash flow.

“We now have a diversified inventory of giant, high margin, high-risk prospects complemented by a high value, low risk, low-cost gas appraisal project in an emerging gas market supported by growing energy demand.

“With our exceptional team, supported by an enhanced board and strong balance sheet, we believe that the year ahead offers an exciting opportunity for progressing all areas of the company's portfolio."

Maximising opportunities

In a note to clients, analysts at SPAngel commented: “Today's results are less about the historic look back, and more about the outlook, and in this respect, we believe that the Company has identified where it needs to be heading.

“Furthermore, today's announcement underlines the increased diversity in its asset base and the Company's focus on maximising its opportunities through the judicious use of cash resources.”

They added: “While today's announcement does not attempt to address the various chances of success, and the work that is being undertaken to maximise that, and nor should it, but this statement it does underline the steps management is undertaking to maximise the opportunities of creating value at the drill bit with the resources that it has at its disposal.”

In afternoon trading, shares in Chariot O&G were 1.3% lower at 3.95p, retreating after nearly doubling in value so far this month following the Morocco license award.

 -- Adds furtehr analyst comment, share price --

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Wed, 10 Apr 2019 07:57:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218298/chariot-oil--gas-highlights-strong-cash-position-and-morocco-acquisition-boost-218298.html
<![CDATA[RNS press release - 2018 Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190410070002_14035083/ Wed, 10 Apr 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190410070002_14035083/ <![CDATA[Media files - Chariot Oil & Gas expands Morocco footprint with new Lixus licence ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12852/chariot-oil--gas-expands-morocco-footprint-with-new-lixus-licence-12852.html Wed, 03 Apr 2019 14:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/12852/chariot-oil--gas-expands-morocco-footprint-with-new-lixus-licence-12852.html <![CDATA[News - Chariot Oil & Gas expands Morocco footprint with acquisition of Lixus licence ]]> https://www.proactiveinvestors.co.uk/companies/news/217838/chariot-oil--gas-expands-morocco-footprint-with-acquisition-of-lixus-licence-217838.html Chariot Oil & Gas Limited (LON:CHAR) shares jumped on Wednesday as the explorer expanded its footprint offshore Morocco, with the award of the Lixus licence.

The AIM-listed group will own 75% of Lixus alongside state-backed partner ONHYM (Office National des Hydrocarbures et des Mines) which holds the other 25%.

WATCH: Chariot Oil & Gas expands Morocco footprint with new Lixus licence

Lixus is host to the Anchois-1 gas discovery well, which with an estimated 307bn cubic feet contingent resource presents a near-term development opportunity.  A further 116bn cubic feet of untested deeper potential has also been identified in the Anchois well area, Chariot noted.

Anchois could provide the basis for a hub-approach to exploration and development, according to Chariot, which highlighted that material tie-back opportunities could exist – with satellite exploration prospects presenting some 527bn cubic feet worth of additional resource potential.

READ: Chariot Oil & Gas turns focus to Moroccan and Brazilian assets

Beyond that, Chariot highlighted that five additional prospects similar to Anchois have been identified, though presently they lack 3D seismic data, and, in the wider licence the explorer sees the potential for ‘giant scale prospective resources’.

“The award of the Lixus licence provides Chariot with a discovered resource base offering a low-cost development opportunity and significant upside,” said Larry Bottomley, Chariot chief executive.

“The commercial attractiveness of the Lixus licence is further enhanced by its position offshore Morocco, a fast-growing energy market with high gas prices and a need for increased supply. In addition to the development opportunity, the licence offers very low-risk exploration tie-back potential in the same play; and higher risk, transformational lead potential in the sub-nappe.”

Chariot noted the “world class” commercial contract terms and that the asset acquisition comes with minimal licence commitments, which will be funded from current cash resources. It anticipates a future development which would deliver strong returns and significant cash flow.

Recent disappointments

The Lixus acquisition comes after last summer’s disappointing outcome of the Rabat Deep exploration well, offshore Morocco, and, after the Prospect S well offshore Namibia failed to make a big discovery.

Chariot has other exploration ventures offshore Morocco, though with the acquisition of the Lixus it has added a different kind of project than it has typically pursued in the past.

With existing resources and follow-up opportunity, Lixus is a lower risk proposition compared to the ‘wildcat’ drilling projects that Chariot has been associated with in the past.

Bottomley added: “Our understanding of the Anchois discovery developed when, following the results from the geochemical analysis of the hydrocarbons sampled in the Rabat Deep-1 well, the company investigated nearby wells as part of a technical review of thermogenic hydrocarbons in the region.

“This insight into the geology of the surrounding area has enabled us to identify and capture this immediately value accretive asset. 

“We are confident that the commercial viability, which will be fully laid out in the feasibility study being commissioned immediately, will be highly attractive to a wide range of strategic partners across the energy value chain.”

Risk profile risk reduced and diversified

In a note to clients, analysts at ‘house’ broker finnCap commented: “This award diversifies and reduces the overall risk profile of Chariot’s high impact portfolio while maintaining its transformational potential.

“Chariot’s rating has been heavily depressed by the two dry holes last year in Morocco and Namibia and the need to secure funding for additional drilling.

“However,” they added, “with data rooms open in three regions – Brazil, Morocco and Namibia – and now a range of risk/reward opportunities within Morocco, the prospects for a successful farm-out must have been improved by this latest licence award.

“With such low expectation in the price, today’s announcement should start to rekindle interest in this exciting exploration, and now appraisal/development, company.”

finnCap trimmed its free cashflow-based target price for Chariot to 155p from 183p. In late morning trading, the shares were at 2.60p, up 15.8% on Tuesday's close.

 -- Adds analyst comment, share price --

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Wed, 03 Apr 2019 08:27:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/217838/chariot-oil--gas-expands-morocco-footprint-with-acquisition-of-lixus-licence-217838.html
<![CDATA[RNS press release - Award of Lixus Offshore Licence, Morocco ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190403070004_14026349/ Wed, 03 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190403070004_14026349/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190114164109_13934127/ Mon, 14 Jan 2019 16:41:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190114164109_13934127/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190114163621_13934119/ Mon, 14 Jan 2019 16:36:21 +0000 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20190114163621_13934119/ <![CDATA[News - Chariot Oil & Gas turns focus to Moroccan and Brazilian assets ]]> https://www.proactiveinvestors.co.uk/companies/news/212172/chariot-oil--gas-turns-focus-to-moroccan-and-brazilian-assets-212172.html Chariot Oil & Gas Limited (LON:CHAR) has launched drilling preparations at its Morocco assets as it looks to shift focus towards delivering an exploration well in the country.

The oiler has identified an inventory of prospects in the Rabat 1 play, offshore Morocco, and is targeting the drilling of the Mohammedia licence prospect MOH-B, which has a gross mean prospective resource of 637mln barrels in two targets.

The group has also worked to evaluate acreage offshore Brazil and has put together a portfolio of seven prospective targets, each seeing up to 366mln barrels with the potential to test multiple ‘stacked’ targets with single vertical wells.

In a pre-close operational update in December, the company said it had begun the preparations through the approval of the drilling environmental impact assessment, long lead items identification and other operational arrangements. The company’s management believes that this preparatory work will enable Chariot to avoid unnecessary delays associated with its plans to drill in the near term.

The company, which retains a portfolio of highly prospective assets in Morocco and Brazil, said it is keen to take advantage of rig rates, which are currently at historic lows. Its in-house subsurface team continues to develop an inventory of drill-ready prospects with material follow-on potential and has initiated partnering processes in Morocco and Brazil.

“Importantly, the Rabat Deep 1 well has demonstrated a new petroleum system in the offshore sector of Morocco, one [of] which may be significantly more robust than that previously extensively explored by the industry, which materially de-risks the Mohammedia and Kenitra licences,” said Chariot chief executive Larry Bottomley.

“Looking ahead, we are focused on delivering an exploration well in Morocco utilising our established in-house drilling team to deliver this programme safely, efficiently and cost-effectively.

“With all licence commitments now met across the entire portfolio, the company is fully-funded to progress our assets in Morocco and Brazil whilst remaining vigilant to other value accretive opportunities," the CEO added.

The company has a strong cash position, with unaudited year-end cash estimated to be US$19 million. The company remains debt free with no licence commitments across its entire portfolio.

Prospect S disappointment

The refocus followed a disappointing result for the group’s Prospect S exploration well, offshore Namibia, which did not encounter any hydrocarbon accumulation and was plugged and abandoned.

However, Bottomley said data gathered from the prospect had provided the firm with “valuable information about the reservoir potential of these turbidite systems which form the primary targets across many of the prospects within the Central Blocks portfolio”.

READ: Chariot Oil & Gas reveals disappointing Prospect S well result

“In Namibia, Chariot also demonstrated it is capable of safely and efficiently operating a deep-water well, delivering the operation within a short time-frame to capture the optimum point of the cost cycle,” he added.

Thanks to partnering arrangements and the low-cost nature of the drilling off the coast of Namibia, the cost of the failure was not too onerous, allowing the firm to progress with its other assets.

With shares trading around 2.7p as of 8 January, Chariot carrier a market cap of £9.9mln.

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Tue, 08 Jan 2019 12:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212172/chariot-oil--gas-turns-focus-to-moroccan-and-brazilian-assets-212172.html
<![CDATA[News - Chariot Oil & Gas focused on delivering an exploration well in Morocco ]]> https://www.proactiveinvestors.co.uk/companies/news/210935/chariot-oil--gas-focused-on-delivering-an-exploration-well-in-morocco-210935.html Chariot Oil & Gas Limited (LON:CHAR) has conducted a thorough analysis of drilling cost estimates for its key prospects.

In a statement issued ahead of the year-end, the company conceded it had been a disappointing year in which the two wells it drilled were duds but thanks to partnering arrangements and the low-cost nature of the drilling off the coast of Namibia, the costs of the failures were not too onerous.

READ: Chariot Oil & Gas reveals disappointing Prospect S well result

"Clearly it has been very disappointing not to have delivered a transformational discovery from the two deep-water wells that we have participated in this year; however, one of these wells was delivered at zero-cost, and the other was drilled significantly under-budget for what is likely to become a new benchmark for the sector,” said Larry Bottomley, the chief executive officer (CEO) of Chariot.

“In Namibia, Chariot also demonstrated it is capable of safely and efficiently operating a deep-water well, delivering the operation within a short time-frame to capture the optimum point of the cost cycle,” he added.

Chariot, which retains a portfolio of highly prospective assets in Morocco and Brazil, said it is keen to take advantage of rig rates, which currently at historic lows. Its in-house subsurface team continues to develop an inventory of drill-ready prospects with material follow-on potential and has initiated partnering processes in Morocco and Brazil.

Chariot has launched drilling preparations in its operated Morocco assets through the approval of the drilling environmental impact assessment, long lead items identification and other operational arrangements. The company’s management believes that this preparatory work will enable Chariot to avoid unnecessary delays associated with its plans to drill in the near term.

“Importantly, the Rabat Deep 1 well has demonstrated a new petroleum system in the offshore sector of Morocco, one [of] which may be significantly more robust than that previously extensively explored by the industry, which materially de-risks the Mohammedia and Kenitra licences,” Bottomley said.

“Looking ahead, we are focused on delivering an exploration well in Morocco utilising our established in-house drilling team to deliver this programme safely, efficiently and cost-effectively.

“With all licence commitments now met across the entire portfolio, the company is fully-funded to progress our assets in Morocco and Brazil whilst remaining vigilant to other value accretive opportunities," the Chariot CEO added.

The company has a strong cash position, with unaudited year-end cash estimated to be US$19 million. The company remains debt free with no licence commitments across its entire portfolio.

"At YE18 Chariot anticipates retaining cash of c$19m, well ahead of our previous forecast of $12.9m owing to efficient drilling operations at the recently completed Prospect S offshore Namibia," said broker, Peel Hunt.

"Until greater clarity is provided around the sustainability of the business strategy, however, including how it intends to evolve and grow following this year’s drilling disappointments, we keep our recommendation under review," the broker added.

Shares in Chariot were off 0.15p in early deals at 2.5p.

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Tue, 11 Dec 2018 08:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210935/chariot-oil--gas-focused-on-delivering-an-exploration-well-in-morocco-210935.html
<![CDATA[RNS press release - Pre-Close Operational Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181211070010_13898672/ Tue, 11 Dec 2018 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181211070010_13898672/ <![CDATA[RNS press release - Block Admission Return ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181203150002_13889464/ Mon, 03 Dec 2018 15:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181203150002_13889464/ <![CDATA[RNS press release - Investor Conference Call ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181017070004_13831353/ Wed, 17 Oct 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181017070004_13831353/ <![CDATA[News - Chariot Oil & Gas reveals disappointing Prospect S well result ]]> https://www.proactiveinvestors.co.uk/companies/news/206854/chariot-oil-gas-reveals-disappointing-prospect-s-well-result-206854.html Chariot Oil & Gas Ltd (LON:CHAR) revealed that the Prospect S exploration well, offshore Namibia, did not encounter a hydrocarbon accumulation.

The well encountered its targeted stacked reservoirs within pre-drill prognosis, but, they were found to be water bearing.

READ: Eco Atlantic Oil & Gas gets greenlight for Namibia drilling

Well data will now be used to allow the company to understand the implications for the prospectivity of the surrounding area. The well will be plugged and abandoned.

"Whilst very disappointing that we have not established a hydrocarbon accumulation in the prospect, we have learnt valuable information about the reservoir potential of these turbidite systems which form the primary targets across many of the prospects within the Central Blocks portfolio,” said Larry Bottomley, Chariot chief executive.

“We will further evaluate the extensive data gathered in the well to understand the implications for the Central blocks portfolio.”

Bottomley added: “With all licence commitments now met across the entire portfolio, the company is fully-funded to progress our assets in Morocco and Brazil whilst remaining vigilant to other value accretive opportunities."

Chariot shares fell nearly 60% in Thursday's deals, down 4.65p to 3.25p per share.

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Thu, 11 Oct 2018 07:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206854/chariot-oil-gas-reveals-disappointing-prospect-s-well-result-206854.html
<![CDATA[RNS press release - Prospect S Well Result, Namibia ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181011070004_13824236/ Thu, 11 Oct 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181011070004_13824236/ <![CDATA[RNS press release - Commencement of Drilling of Prospect S Well ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181001160001_13811878/ Mon, 01 Oct 2018 16:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20181001160001_13811878/ <![CDATA[News - Drilling set to begin shortly at Chariot Oil & Gas’ Prospect S well offshore Namibia ]]> https://www.proactiveinvestors.co.uk/companies/news/205961/drilling-set-to-begin-shortly-at-chariot-oil-gas-prospect-s-well-offshore-namibia-205961.html Drilling is set to get underway shortly at Chariot Oil & Gas PLC’s (LON:CHAR) Prospect S well offshore Namibia.

A deep-water drillship is due to arrive at the location within the next 24 hours, with spudding of the well expected shortly afterwards. Operations are due to last 40 days.

READ: Chariot looks ahead to Namibia

Chariot holds a 65% interest in the well, which is estimated to be host to up to 459mln barrels of oil with a probability of geological success of 29%.

Chariot shares edged 0.2% higher to 8p on Friday morning.

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Fri, 28 Sep 2018 09:35:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/205961/drilling-set-to-begin-shortly-at-chariot-oil-gas-prospect-s-well-offshore-namibia-205961.html
<![CDATA[RNS press release - Commencement of Drilling Operations ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180928070004_13807954/ Fri, 28 Sep 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180928070004_13807954/ <![CDATA[News - Chariot Oil & Gas looks ahead to Namibia opportunity ]]> https://www.proactiveinvestors.co.uk/companies/news/204710/chariot-oil-gas-looks-ahead-to-namibia-opportunity-204710.html It was a six month period that began with disappointment for Chariot Oil & Gas Limited (LON:CHAR) but there ’s presently a degree of positivity and optimism with the next ‘high impact’ possibility due to start before the year’s end.

Time will tell whether 2018 will be a tale of two halves and two exploration outcomes. In the first quarter the Rabat Deep well was drilled offshore Morocco, and, was found to be ‘dry’. Soon, during the fourth quarter, a well will be drilled to test Prospect S offshore Namibia.

“Our participation in the Rabat Deep 1 well in Morocco demonstrated our ability to expose the company and its shareholders to potentially transformational events at zero cost, and we are pleased to have secured historically low rig rates for the drilling of Prospect S, Namibia, in Q4 2018, following a successful fundraise in March,” chief executive Larry Bottomley said in this morning’s interim results statement.

READ: Chariot Oil & Gas focusing on new well opportunity offshore Namibia

He added: “Well results from Rabat Deep 1 in Q1 2018 were disappointing, but the information obtained has proven key elements in Chariot's adjacent priority targets, which is anticipated to increase their chance of success and further define prospective resource potential following integrated analysis with proprietary seismic datasets.

“The company is fully funded for all remaining commitments.”

During the first half, Chariot raised US$16.5mln and at the end of the six month period, it had a US$28.4mln cash balance. The pre-revenue explorer reported a US$2.1mln loss for the half, including US$1.52mln of admin expenses and US$507,000 of share-based payments out.

The company highlighted that its cash and liquidity position has significantly exceeded the company’s work programme commitments.

At the same time, Chariot continues to seek new partners and it is open to added new exploration opportunities.

Bottomley added: “Datarooms are open across the matured portfolio and we look forward to the drilling of a safe, efficient and cost-effective well in Prospect S, which has the potential, in the success case, to realise substantial value and expose shareholders to additional upside from the additional resource in the inventory of prospects within the licence.

“Concurrently, we will continue refining our broader prospect inventory and remain vigilant to value accretive opportunities."

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Wed, 12 Sep 2018 07:55:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204710/chariot-oil-gas-looks-ahead-to-namibia-opportunity-204710.html
<![CDATA[RNS press release - H1 2018 Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180912070005_13787275/ Wed, 12 Sep 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180912070005_13787275/ <![CDATA[RNS press release - Appointment of Director ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180903070008_13775620/ Mon, 03 Sep 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180903070008_13775620/ <![CDATA[Media files - Success at Prospect S 'to open things up significantly' for Chariot Oil & Gas ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10100/success-at-prospect-s-to-open-things-up-significantly-for-chariot-oil-gas-10100.html Mon, 13 Aug 2018 12:55:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10100/success-at-prospect-s-to-open-things-up-significantly-for-chariot-oil-gas-10100.html <![CDATA[RNS press release - Grant of Share Awards ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180806130004_13745191/ Mon, 06 Aug 2018 13:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180806130004_13745191/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180724105723_13729267/ Tue, 24 Jul 2018 10:57:23 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180724105723_13729267/ <![CDATA[News - Chariot Oil & Gas Limited focusing on new well opportunity offshore Namibia ]]> https://www.proactiveinvestors.co.uk/companies/news/201417/chariot-oil-gas-limited-focusing-on-new-well-opportunity-offshore-namibia-201417.html Chariot Oil & Gas Limited (LON:CHAR) chief executive Larry Bottomley told investors that the focus for the remainder of 2018 is on the delivery of safe and cost-effective drilling operations in Namibia.

The company also continues to seek partnerships throughout its portfolio, mature its exploration prospects and ultimately deliver further funded drilling opportunities.

It highlighted the partnership opportunity with Shell, offshore Mauritania, as one example of the kind of potential value-accretive opportunities that it has been screening.

On Monday, Chariot revealed that it had been given an option to acquire between 10% and 20% of a Shell-led exploration venture in Block C-19, an area previously held by Chariot.

WATCH: Success at Prospect S 'to open things up significantly' for Chariot Oil & Gas

In today’s statement, ahead of this morning’s AGM in London, Bottomley reflected on recent events and achievements.

“While we have seen some recent stabilisation in the oil markets, Chariot elected to use this period of subdued industry activity to initiate the drilling campaign to benefit from the maturation of the portfolio over the last year and to capture the bottom of the cost cycle,” Bottomley highlighted.

Rabat Deep well offshore Morocco

Offshore Morocco, the Rabat Deep 1 well was drilled at zero cost (thanks to farm-out deals) though the well was not a success, albeit Chariot says the data has proven key play components for targets in its neighbouring permits, Mohammedia and Kenitra.

Both those areas were the subject of seismic data acquisition last year and Chariot highlighted that the insights have allowed the company to develop, de-risk and mature its drilling inventory.

Countdown to new Namibia drilling

New drilling is now scheduled for the fourth quarter of this year, offshore Namibia.

Ocean Rig Poseidon is to drill Prospect S, a possible high impact well targeting an estimated 459mln barrel prospective resource, with an estimated probability of geologic success of 29%.

Prospect S is one of five new prospects, all of which are estimated between 283mln to 459mln barrels each, and, the explorer said that success could de-risk more than 2bn barrels of further prospective resources.

Disciplined prospecting

Elsewhere, Chariot has worked to evaluate acreage offshore Brazil and it has put together a portfolio of seven prospective targets, each seen up to 366mln barrels, and, significantly, there’s potential to test multiple ‘stacked’ targets with single vertical wells.

Summing up the financials, meanwhile, Bottomley added: “Chariot has maintained focus on financial discipline, ending 2017 with US$15.2mln in cash, well in excess of its commitments, and raised US$16.5mln net post-period which funds the company's share of the drilling of Prospect S.

“Overhead costs remained tightly controlled, whilst the management has been successful in leveraging the overall industry downturn to negotiate favourable seismic and rig rates, thus allowing for counter-cyclical investment in the portfolio.”

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Tue, 24 Jul 2018 08:22:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201417/chariot-oil-gas-limited-focusing-on-new-well-opportunity-offshore-namibia-201417.html
<![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180724070003_13728318/ Tue, 24 Jul 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180724070003_13728318/ <![CDATA[News - Chariot Oil & Gas given option to partner Shell offshore Mauritania ]]> https://www.proactiveinvestors.co.uk/companies/news/201333/chariot-oil-gas-given-option-to-partner-shell-offshore-mauritania-201333.html Chariot Oil & Gas Limited (LON:CHAR) told investors that it has been given an option to acquire between 10% and 20% of a Royal Dutch Shell PLC (LON:RDSB) led exploration venture offshore Mauritania.

Shell was recently awarded block C-19, an area previously held by Chariot before it walked away from the project in 2016 when a weak market prevented the junior explorer from securing a farm-out deal.

READ: Chariot Oil & Gas well-funded ahead of “exciting” year

In Monday’s statement, Chariot explained that it has been working with Shell and its partners and, now, in recognition of its expertise and knowledge of the area, it has been given the option to ‘back-in’ to the project.

"The focus for Chariot is the delivery of transformational value through the discovery of material hydrocarbon accumulations,” said Larry Bottomley, Chariot chief executive.

“Chariot considers the C-19 block has the potential to deliver material hydrocarbon accumulations.

“The focus of our evaluation of the option will be on value, portfolio balance, risk management and capital discipline.”

Bottomley added: “We would like to thank Shell for their constructive approach, participation and leadership in the process of securing the C-19 block, SMHPM for their continuing support of our partnership and the Ministry of Petroleum, Energy and Mines for facilitating our attempts to progress exploration on this licence.

“Securing this option is a testament to the quality of the technical team and the tenacity of the organization."

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Mon, 23 Jul 2018 12:42:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201333/chariot-oil-gas-given-option-to-partner-shell-offshore-mauritania-201333.html
<![CDATA[RNS press release - Mauritanian New Venture Back-in Option with Shell ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180723115415_13727788/ Mon, 23 Jul 2018 11:54:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180723115415_13727788/ <![CDATA[RNS press release - Posting of Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180622070003_13689560/ Fri, 22 Jun 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180622070003_13689560/ <![CDATA[RNS press release - Grant of Deferred Share Awards ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180615150002_13682129/ Fri, 15 Jun 2018 15:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180615150002_13682129/ <![CDATA[News - Chariot Oil & Gas well-funded ahead of “exciting” year ]]> https://www.proactiveinvestors.co.uk/companies/news/198340/chariot-oil-gas-well-funded-ahead-of-exciting-year-198340.html Chariot Oil and Gas Limited (LON:CHAR) has told investors it is well-funded for what it expects to be an “exciting” year for the junior explorer.

AIM-quoted Chariot revealed earlier this week that the drilling of the Prospect S well at its Central Blocks licence offshore Namibia is slated to begin in the fourth quarter of the year and for which it is fully-funded, having raised US$16.5mln earlier in the year.

READ: Chariot secures drillship for Prospect S well offshore Namibia

Depending on the outcome of the outcome of that well, the plan is to either find a partner to drill a second well in this region – Prospect W – or move on to drilling the Kentira-1 and LKP-1a targets offshore Morocco.

At the end of April, Chariot revealed that the Rabat Deep exploration well – adjacent to the Kenitra licence – was dry.

Italian supermajor Eni footed the bill for the drilling costs due to a prior farm-out deal, with Chariot retaining a 10% interest in the well.

WATCH: Chariot raises US$15mln to advance Namibia drill program

A more detailed analysis of the Rabat Deep drill results is underway so the company can get a better understanding of what they might mean for its other targets in the region.

Taking advantage of depressed oil markets

“Over the course of 2017 we continued to deliver on all aspects of our strategy - investing in the lower cost oil price environment through extensive seismic acquisition, processing and interpretation to develop our technical understanding and high impact prospect inventory; completing a drilling partnership with Eni, enabling us to initiate our drilling campaign at no cost to the company; and locking in additional prospectivity in neighbouring acreage with the successful acquisition of Kenitra, Morocco, as well as securing an innovative back-in option on legacy acreage in Namibia,” said chief executive Larry Bottomley.

“With no remaining commitments across the portfolio we are in a robust financial position to pursue our new venture strategy as well as focus on maturing our remaining assets at the current low point in the cost cycle.”

He added: “The funds raised earlier this year will allow the company to deliver a second well in 2018 and strengthen our position in ongoing partnering negotiations, enabling us to protect equity and optimise value whilst gaining third party validation and a share in capital requirements for our priority prospects, S and Kenitra-1."

No debt

Chariot recorded a loss before tax of US$55.4mln (2016: US$6.7mln) for the 12 months ended December 31 2017, largely as a result of an impairment charge of US$51.2mln relating to its decision last summer not to proceed into the first renewal period for the Southern Blocks in Namibia.

At the end of the period, the company had no debt and cash in the bank of US$15.2mln, although the current bank balance will be significantly higher, given the recent fundraise.

Chariot still offers “significant upside potential”

“Understandably, Chariot shares have been in the doldrums since its Moroccan dry hole,” wrote finnCap analyst Jonathan Wright in a research note.

“Unfortunately, that is the nature of frontier exploration, yet this is a stock that still offers significant upside potential from a broad portfolio of material exploration prospects.

“A strong financial position gives Chariot the clout to go it alone on the next major well in Namibia, which is on track to drill in Q4 2018, with a rig secured.

“However, management is pursuing farm-outs in all regions, and successful partnering would liberate funds and extend the drilling horizon; steps are being taken to prepare for an accelerated drilling programme in H1 2019 that could see an additional two wells drilled with risked potential of 43p/sh.”

Chariot shares were up 3% to 8.5p in mid-morning trade on Wednesday.

-- Updates for share price and analyst comment --

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Wed, 06 Jun 2018 07:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198340/chariot-oil-gas-well-funded-ahead-of-exciting-year-198340.html
<![CDATA[RNS press release - 2017 Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180606070002_13668305/ Wed, 06 Jun 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180606070002_13668305/ <![CDATA[Media files - Chariot Oil and Gas secures rig for Prospect S offshore Namibia ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9431/chariot-oil-and-gas-secures-rig-for-prospect-s-offshore-namibia-9431.html Mon, 04 Jun 2018 12:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9431/chariot-oil-and-gas-secures-rig-for-prospect-s-offshore-namibia-9431.html <![CDATA[News - Chariot Oil & Gas to drill Prospect S target offshore Namibia in Q4 as it secures drillship ]]> https://www.proactiveinvestors.co.uk/companies/news/198162/chariot-oil-gas-to-drill-prospect-s-target-offshore-namibia-in-q4-as-it-secures-drillship-198162.html Junior explorer Chariot Oil and Gas Limited (LON:CHAR) expects to begin deepwater drilling at its Central Blocks licence offshore Namibia in the fourth quarter of this year.

The AIM-quoted company has contracted the Ocean Rig Poseidon drillship to drill one firm well – Prospect S – and one optional well.

WATCH: Chariot Oil and Gas secures rig for Prospect S offshore Namibia

Ocean Rig Poseidon is scheduled to arrive on location in the fourth quarter, with the drilling of Prospect S to begin shortly after.

“We are pleased to have secured the high-performance Ocean Rig Poseidon drillship for the Prospect S well in Namibia,” said chief executive Larry Bottomley.

“Operational plans are now well advanced for the first deepwater drilling in our Central Blocks licence in Q4 2018.”

He added: “We are continuing to take every advantage of the current historic low-cost drilling environment as well as maximizing any further cost synergies by cooperating with other drilling operations in Namibia.”

Farm-out talks ongoing

Prospect S is estimated to be a prospective resource of 459mln barrels (mmbbls), while the Central Blocks licence as a whole has a gross mean prospective resource of 1,758mmbbls.

The results of the drilling could also de-risk two other structural traps, which have a combined prospective resource of 885mmbbls, Chariot said.

“Our farm-out discussions are ongoing, strengthened by this well having already been fully funded, and we look forward to introducing new partners to share the costs and also the significant rewards of a discovery on Prospect S, and to accelerate the optional drilling on the transformational follow on potential,” said Bottomley.

'Journey far from over'

“Chariot has been in the sin bin since its Moroccan duster and has received no benefit from the recent oil price rally, despite this improving the chances of a successful Namibian farm-out,” wrote finnCap analyst Jonathan Wright in a note.

“However, news of a rig being secured for its next major well, in Namibia, will refocus investor attention, especially in light of the attractive risk/reward skew at current levels.

“We estimate a net present value (NPV) for Prospect S of 23p per share on a risked basis, and 173p/sh unrisked.”

He added: “Moreover, there is major follow-on potential if successful. Chariot is fully funded for this well and a farm-out would allow it to drill a second. This journey is far from over.”

Shares rose 2.7% to 8.25p early on Monday.

--Updates for share price and analyst comment--

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Mon, 04 Jun 2018 08:02:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198162/chariot-oil-gas-to-drill-prospect-s-target-offshore-namibia-in-q4-as-it-secures-drillship-198162.html
<![CDATA[RNS press release - Operational Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180604070006_13664735/ Mon, 04 Jun 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180604070006_13664735/ <![CDATA[RNS press release - Block Admission Application and Return ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180601150002_13664293/ Fri, 01 Jun 2018 15:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180601150002_13664293/ <![CDATA[Media files - Chariot Oil & Gas evaluating well data after 'disappointing' result at Rabat Deep ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9193/chariot-oil-gas-evaluating-well-data-after-disappointing-result-at-rabat-deep-9193.html Wed, 02 May 2018 12:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9193/chariot-oil-gas-evaluating-well-data-after-disappointing-result-at-rabat-deep-9193.html <![CDATA[News - Chariot Oil & Gas well fails to find hydrocarbons offshore Morocco ]]> https://www.proactiveinvestors.co.uk/companies/news/196025/chariot-oil-gas-well-fails-to-find-hydrocarbons-offshore-morocco-196025.html Chariot Oil & Gas Limited (LON:CHAR) has told investors that the Rabat Deep exploration well, offshore Morocco, has failed to find a hydrocarbon accumulation.

The well was drilled safely to a depth of 3,180 metres, it said, and whilst it didn’t encounter oil or gas it did penetrate a thick top seal and tight, fractured carbonates in the primary Jurassic target.

WATCH: Chariot Oil & Gas evaluating well data after 'disappointing' result at Rabat Deep

The company said further analysis will now be needed to understand the implications of the well results on the prospectivity of the surrounding area.

Chariot has a 10% interest in Rabat Deep and its share of the well costs were paid by its partners, due to prior farm-out deals.

"Whilst the results of the Rabat Deep 1 well are very disappointing, the fact that we encountered tight carbonates in the Jurassic target with a thick top seal will be invaluable in calibrating the existing data sets and determining the implications for the prospectivity in the Rabat Deep Permits,” said Larry Bottomley, Chariot chief executive.

“Rock properties from the top seal and some thin sands encountered in the overburden will allow an improved description of the Cretaceous siliciclastic play that Chariot is targeting in the neighbouring Mohammedia and Kenitra permits where we operate with 75% equity.”

He added: “We will continue to evaluate the well data and the implications of these results on the surrounding area, before discussing next steps with our partners Eni, Woodside and ONHYM.”

Looking forward, the Chariot boss highlighted that the company remains fully-funded for exploration drilling at Prospect S in Namibia in the second half of this year, targeting a possible 469mln barrels of prospective resources.

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Mon, 30 Apr 2018 07:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/196025/chariot-oil-gas-well-fails-to-find-hydrocarbons-offshore-morocco-196025.html
<![CDATA[RNS press release - Operational Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180430070014_13622781/ Mon, 30 Apr 2018 07:00:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180430070014_13622781/ <![CDATA[RNS press release - Notification of Transaction of PDMR ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180329161231_13587697/ Thu, 29 Mar 2018 16:12:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180329161231_13587697/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180329100610_13586646/ Thu, 29 Mar 2018 10:06:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180329100610_13586646/ <![CDATA[RNS press release - Notification of Transaction of PDMR ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180328092542_13584713/ Wed, 28 Mar 2018 09:25:42 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180328092542_13584713/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180328080101_13584501/ Wed, 28 Mar 2018 08:01:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180328080101_13584501/ <![CDATA[RNS press release - Result of General Meeting and Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180327104000_13582922/ Tue, 27 Mar 2018 10:40:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/80/LSE20180327104000_13582922/