Namibian OperationsKey Positioning

Chariot holds a significant acreage position in one of the last frontiers for oil and gas exploration.

Geological Backdrop

Continental Drift

• Brazil and Namibia are on opposite margins of the South Atlantic
  • common geological history and contains similar petroleum systems
  • over 80 Bbbls BOE of discoveries in South Atlantic

Hydrocarbon Charge

• “Fingerprinting” and “DNA” of condensate samples from Kudu indicate presence of same lacustrine source rock in addition to marine
• The same source rocks are present offshore Namibia as in Brazil with respect to depositional sequences, source rock type and oil fingerprinting
• Close proximity of oil, natural gas and condensate accumulations - Oil seepage slicks indicate working petroleum system
• Charge maturity of basins indicate that Chariot’s licences are situated within the oil window

Source Rocks

• Similar source rocks are identified all around the South Atlantic margins with recent discoveries pushing proven areas both north and south from the traditional ‘salt basins’

Increased West Africa interest

• Recent giant discoveries (Jubilee discovery in Ghana, further discoveries in Angola) have renewed interest in the West African Atlantic margin