Chariot Limited · LSE:CHAR
Chariot — Investor Presentation (July 2021)
26 slides from Chariot's investor presentation, July 2021
Slide 1: Building an African Transitional Energy Group
BUILDING AN AFRICAN TRANSITIONAL ENERGY GROUP JULY 2021
Slide 2: Disclaimer and forward looking statements
Disclaimer and forward looking statements These Presentation Materials do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in the Company nor shall they or any part of them form the basis of or be r
Slide 3: Executive Team
Executive Team Adonis Pouroulis Julian Maurice-Williams Duncan Wallace Benoit Garrivier Chief Executive Officer Chief Financial Officer Technical Director Transitional Power CEO • One of the founders of • Chartered Accountant with • Geologist with 20 years of • 15 years of experience in Chariot, has
Slide 4: Building an African Transitional Energy Group
Building an African Transitional Energy Group To create value and deliver positive change through investment in projects that are driving the energy revolution Projected world population by world region Africa: Gross Domestic Product (US$) WHY AFRICA? Asia Africa ”Africa to propel world’s population
Slide 5: Positioned to Develop Energy Projects Across Africa
Positioned to Develop Energy Projects Across Africa Moroccan offshore gas development with the potential to Renewable and hybrid energy project development in strategic positively impact a growing economy, heavily reliant on partnership with Total-Eren, a leading player in renewable energy imports a
Slide 6: Synergies & Scalability
Synergies & Scalability c$1.5B +500 MW 2C Net Cash (Gross) pipeline post-tax* equivalent to Hoover Dam c$500m 15 MW 2C Net Essakane NPV10* (Gross) Material upside Sub-Saharan total beyond Anchois Chariot electricity supply, development Portfolio Solar share Chariot Historic Interest >3 Tcf Executive
Slide 7: Transitional Gas: Anchois Gas Development
Transitional Gas: Anchois Gas Development • Morocco is a premium SPAIN 2C Base Case investment location with Pipelines Net NPV10 world-class fiscal terms 1 Power Planned Pipelines US$500m 3 Chariot 3D Seismic • Growing power and 2 Industry IRR > 30%* Rissana Offshore Existing CCGT 2 industrial deman
Slide 8: Transitional Gas: Appraisal Well – Unlocking the Development
Transitional Gas: Appraisal Well – Unlocking the Development Anchois-1 Potential PLIOCENE Discovery Appraisal Well A Sands Excellent Quality 2020 Well Location Reprocessed 3D B Sands MIOCENE Seismic Data Plie prospect A Sand 115 Bcf High Reservoir Porosity C, M & O & Permeability A&B Sand Appraisal
Slide 9: Transitional Gas: Anchois Gas Development
Transitional Gas: Anchois Gas Development SUBSEA-TO-SHORE DEVELOPMENT Engineering • Simple & standard construction & development • Pre-FEED completed • Development collaboration agreement signed with market leading gas developers Onshore Central Processing Facility 2C Development 2C Development Gas
Slide 10: Transitional Gas: Material Upside Beyond Anchois Development
Transitional Gas: Material Upside Beyond Anchois Development Lixus Mio-Pliocene Portfolio 2C/2U (Bcf) 3D PSDM LIXUS coverage OFFSHORE 5,000 Rissana Offshore 4,500 ~8,476 sq km Maquereau West 4,000 Maquereau Merluche North 3,500 Anchois Maquereau Discovery Central 3,000 Maquereau South 2,500 2,000 Li
Slide 11: Transitional Power: Rationale for Acquisition of New Business
Transitional Power: Rationale for Acquisition of New Business Looking to harness network to increase SPA Signed in March 2021 for pipeline of projects Purchase of AEMP Group – Renewable and Hybrid Developer for Mines in Africa Consideration $2 Million in Share Capital ✓ Joint Venture with ✓ Right fo
Slide 12: Transitional Power: Scalability, Leverage & Returns
Transitional Power: Scalability, Leverage & Returns Current Pipeline Example: 50 MW Solar Project*** SIZE OF PRIZE 500 MW equivalent electricity production of the Hoover Dam 20 GW equivalent to c.50% of annual 70% 30% 85% UK electricity consumption Debt Equity Recent comparable 15% transaction value
Slide 13: Transitional Power: Existing Operations
Transitional Power: Existing Operations Essakane Solar 15 MW Solar • Largest hybrid PV-HFO plant in Africa and one of the largest Generation in the world 130,000 • Together with Total Eren, AEMP has successfully developed, PV Panels financed and built, and now operates, a 15 MW solar PV Commenced pl
Slide 14: Timeline & Value Triggers
Timeline & Value Triggers Additional Gas Prospectivity / 3Tcf Lixus & Rissana upside Strategic Partnering APPRAISAL Strategic Partnering FIRST FID DRILLING GAS Anchois 361Bcf Unlocked FEED Debt Finance Drilling Rig Gas Sales Reserves Gas Sales CONSTRUCTION Signed MoUs Report Agreements v v v v v v v
Slide 15: Highlights – Significant Value Upside
Highlights – Significant Value Upside ● Unique & ● Transitional Gas ● Transitional ● Scale & Synergy ● Team & Network Sustainable High Value Gas Power ◆ 7 X Upside in 2U Gas ◆ Team with Proven African Development in Clean Power for Resource Record of Project Transitional Morocco ◆ 500MW+ Pipeline of
Slide 16: Mission & Principles
Mission & Principles Mission To create value and deliver positive change through investment in projects that are driving the energy revolution Values Positive Impact: • Environment • Local Communities • Employees • Shareholders Collaboration • Mutual Benefit • Balance • Knowledge Growth Integrity •
Slide 17: Appendices
CHARIOT #38 ° TRANSITIONAL ENERGY APPENDICES
Slide 18: Management Team
Management Team Julian Maurice-Williams Adonis Pouroulis Duncan Wallace Chief Financial Officer Chief Executive Officer Technical Director Benoit Garrivier Pierre Raillard Laurent Coche David Brecknock Transitional Power CEO Head of Gas & Morocco Business Development, Drilling Manager • 15 years of
Slide 19: Non Executive Directors
Non Executive Directors George Canjar Robert Sinclair Chris Zeal Andrew Hockey Non-executive Chairman Non-executive Director Non-executive Director Non-executive Director • Over 40 years with Shell, • Over 52 years’ experience in • Over 30 years’ experience • Over 35 years’ experience in Carrizo, Da
Slide 20: Transitional Power: Partner Information
Transitional Power: Partner Information Total Eren is an Independent Power Producer which develops, finances, builds and operates over the long-term renewable energy power plants globally. 2012 - founded by Pâris Mouratoglou and David Corchia Shareholders 2019 % 2015 - €195 million capital increase
Slide 21: Lixus Offshore Prospects & Leads – 2020 PSDM
Lixus Offshore Prospects & Leads – 2020 PSDM A B Nappe Nappe Mud/Salt Diapir Sub-Nappe Prospectivity Anchois Mini-Basin Pliocene & Miocene Anchois Satellite Prospects LIXUS 3D PSDM OFFSHORE coverage 5-10km from Anchois, with same reservoir and attributes Mio/Plio U/C B 2019 PSTM evaluation 600 Bcf*
Slide 22: Anchois Field – PSDM Interpretation, Resources & Appraisal
Anchois Field – PSDM Interpretation, Resources & Appraisal Anchois-1 Legacy PSTM Anchois-1 New PSDM Anchois Discovery – B Sand Increase in A & B resources Improved mapping of gas sands Identification of new targets A Sands A Sands Anchois-1 B Sands B Sands 3.2 to 4.8 km2 PSTM (2010) Maximum Minimum
Slide 23: Anchois Development & Production Growth Analogues
Anchois Development & Production Growth Analogues Cassiopea-Argo, Sicily Channel Poseidon, Gulf of Cadiz Corrib, NW Ireland • ENI Operated • Repsol Operated • Vermillion Operated (developed by Shell) • >600 Bcf Resources • 150 Bcf Resources • 600 Bcf Resources • 5-600m WD, 60km flowline, 5 wells • 7
Slide 24: Lixus Offshore: Independent Resource Assessment
Lixus Offshore: Independent Resource Assessment Contingent Gas resources* (Bcf) Probability of Prospective Gas resources (Bcf) Field / Prospect Geologic Success 1C* 2C* 3C* Mean (Pg) 1U 2U 3U Mean Anchois Discovery Anchois A sand* 65 114 175 117 N/A Anchois B sand* 136 247 375 252 N/A Anchois Contin
Slide 25: Morocco fiscal terms and key figures
Morocco Exploitation Concession 25 years 31% corporate 10 year corporate (extendable tax after 10 year tax holiday by 10 years) tax holiday no taxation of profits in first 10 years of production 3.5% royalty applies Royalty, rental, training, exploration, to gas from Anchois production and bonus exp
Slide 26: Corporate Snapshot
Corporate Snapshot Market Statistics Listing AIM, London Ticker Symbol CHAR Issued Shares (at 23 July 2021) 636,723,079 Share Price (at 23 July 2021) 5.70p Market Capitalisation (at 23 July 2021) US$50m Total Director / Employee share awards (at 31 10,241,655 December 2020) 26