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: RD-1; LKP-1A; Prospect B; AO1
  • Accelerate the drilling programme: RD-1 Q1 2018
  • Return transformational shareholder value by the early monetisation of discoveries

Delivering on the Strategy

Access

  • Expanded portfolio in high potential, new and emerging basins characterised by flexible work programmes and excellent contract commercial terms
  • Operator of all but one licence – with operatorship transferred for drilling
  • Assets in 3 countries, 4 basins and 5 plays in 6 licence areas

De-risk

  • De-risked multiple assets at low cost through seismic, partnering and 3rd 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 G&A from $9.4m to $5.0m*

* 2013 G&A compared to estimated G&A for 2016

Drill

  • Demonstrated operational capability by successfully operating a deep water well 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
  • 4 drill-ready prospects, all transformational in the “lower-for-longer” oil price environment
  • Secured a capped carry on one funded well, to be drilled in Q1, 2018