As Chariot Ltd (AIM:CHAR, OTC:OIGLF) gears up for a transformative 2024, CEO Adonis Pouroulis shares insights with Proactive's Stephen Gunnion on the company's strategic focus on transitional energy and green initiatives.
With key developments in Morocco, South Africa, and Mauritania, Pouroulis delves into the company's projects, strategic partnerships, and his confidence in the face of market fluctuations, painting a picture of a company poised for significant impact in the energy sector.
Stephen Gunnion (SG): Adonis, can you share with us why 2024 is poised to be a significant year for Chariot Ltd (AIM:CHAR, OTC:OIGLF)?
Adonis Pouroulis (AP): Absolutely, Stephen. 2024 represents a pivotal moment for us as we deepen our commitment to transitional energy and green initiatives. We're focusing on expanding our transitional gas assets in Morocco, advancing renewable projects for mining, and pushing forward with our green hydrogen project, Project Nour, in Mauritania.
SG: What are the specifics of your ventures in Morocco?
AP: In Morocco, we're excited to drill two wells in the Loukos license. This effort is supported by our partnership with Energean for offshore projects, which is a strategic move to bolster our presence and capabilities in the region.
SG: How is Chariot addressing the energy shortage in South Africa?
AP: Our trading business is actively addressing South Africa's acute energy shortage. By increasing our stake to 49% in this venture, we're tapping into one of the largest markets undergoing major deregulation, seeing it as a significant growth opportunity.
SG: Can you expand on the advancements in your renewable energy projects?
AP: Sure. Our renewable projects, especially for mining operations, are progressing well. We anticipate providing more updates as we advance, ensuring our operations are sustainable and environmentally friendly.
SG: And what about the developments in green hydrogen?
AP: With Project Nour, in partnership with Total Energies in Mauritania, we're making strides. The completed feasibility study is a step forward, and we look forward to presenting it to the Mauritanian government.
SG: Despite the recent dip in share price, how does the company view its future?
AP: We remain confident in our solid fundamentals and the upcoming catalysts set for 2024. Our management's significant share ownership and recent director purchases reflect our commitment and belief in Chariot's success.