Investment Case

Chariot represents an opportunity to invest in the underexplored but highly prospective regions of the Atlantic margins that sit outside of the traditional, more densely explored parts of the fairway. With its assets in frontier, established and emerging hydrocarbon provinces, Chariot has balanced its risk profile and secured acreage in areas that have established petroleum systems with the potential to hold giant discoveries. The highly experienced team continues to progress the portfolio whilst maintaining its de-risking strategy, building towards the creation of significant value and the generation of sustainable growth over the long term.

Focused Strategy

  • Explore in new and emerging provinces
  • Take large operated equity positions in the early phases of exploration
  • Manage risk through: levered partners, portfolio diversity and application of technology
  • Apply capital discipline
  • Access – De-risk – Drill

High Quality, Diversified Portfolio

  • 4 licence areas, 3 countries, c.23,600km2 (gross)
  • Giant potential – 3.5bnbbls+ gross mean prospective resources

Experienced E&P Team

  • Track record of accessing quality acreage ahead of the industry
  • Over 200 years of E&P experience
  • E&P operations experience in 31 countries
  • Over 40 discoveries; 14 major discoveries
  • Acquired, processed and interpreted over 13,000km2 of 3D data to date
  • Successfully operated two deepwater wells

Value Creation

Near term value add opportunities

  • Partnering to drill
  • Access new venture opportunities to balance risk and further enhance the value of the portfolio
  • Multiple opportunities for “closeology” impact with numerous third party drilling campaigns

Fully Funded

  • No debt, all commitments fulfilled
  • Planned work programme fully funded
  • Cash balance as at 31 December 2018 of US$19 million
  • Looking to leverage partnering to access further third party funding