Chariot Limited · LSE:CHAR
Chariot — Investor Presentation (September 2019)
31 slides from Chariot's investor presentation, September 2019
Slide 1: Investor Presentation
Investor Presentation High Impact Atlantic Margins Oil and Gas Company September 2019
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: High Impact Atlantic Margins Oil & Gas Company
High Impact Atlantic Margins Oil & Gas Company Balanced exploration • Exploration assets in Morocco, Brazil and Namibia portfolio with • Transformational Resources in a prospect inventory with balanced risk & reward giant potential • Low risk exploration and appraisal assets in Morocco • Anchois Dis
Slide 4: Balanced Exploration Portfolio with Giant Potential
Balanced Exploration Portfolio with Giant Potential Morocco • RSD-1 well established a re-discovered Morocco petroleum system - migration from a Cretaceous or younger source rock charging excellent quality U.Jurassic reservoir quality sandstones and effective seal in prospects MOH-B and KEN-A • MOH-
Slide 5: Balanced Exploration Portfolio with Giant Potential
Balanced Exploration Portfolio with Giant Potential High impact Atlantic Margins explorer: • “Drill-ready” exploration assets in Morocco, Brazil and Namibia • Success in any of Chariot’s wells has the potential to create transformational value • Any success de-risks material running room in each lic
Slide 6: Anchois – Material, High Value Gas Appraisal Project
Anchois – Material, High Value Gas Appraisal Project Anchois Discovery Well Key Facts: • Anchois-1 gas discovery in 388 m WD, 40km from coastline • 2C Resource of 307 Bcf* in Gas Sand A and Gas Sand B Gas Sand A • Prospective Resource of 116 Bcf* in Gas Sand C (Anchois Gas Sand B Deep), untested in
Slide 7: Additional on-block running room
Additional on-block running room Key Facts: • All on-block discoveries exhibit AVO anomalies, all dry wells have no anomalies • AVO conditioned products only currently available over the 2006 3D seismic surveys • Anchois & satellites are an amplitude-supported Lixus discovery and prospect inventory
Slide 8: Strong value generation from Anchois & Satellites
Strong value generation from Anchois & Satellites Phase I potential development 423 Bcf 90 mmscf/d (2C + 2U)* 2C + 2U (A, B & C sand) 307 Bcf (2C)* 70 mmscf/d 2C (A & B sand) Bcf mmscf/d Onshore Central Processing Facility 35 mmscf/d 156 Bcf (1C) 1C 14” gas pipeline & control umbilical Anchois Satel
Slide 9: Growing Moroccan Gas Market with attractive gas prices
Growing Moroccan Gas Market with attractive gas prices Pipelines Power plants • Moroccan energy demand is Coal GME Export ~1200 mmscf/d forecast to double between 2015 Planned pipelines Fuel Oil and 2030 Tahaddart CCGT (400MW) Planned LNG Gas • Moroccan power generation is ~50 mmscf/d Re-Gas plant H
Slide 10: Strategy focused on transformational value
Strategy focused on transformational value ACCESS RISK MANAGEMENT • Secure large acreage positions in new and • Apply risk reduction technologies emerging basins • Levered partnering at investment phases • Take operated position in the early phases to maintain control over destiny • Position the por
Slide 11: Multiple Value Triggers
Multiple Value Triggers 2H 1H 2H 1H 2H Country Licence 2019 2020 2020 2021 2021 Mohammedia Drilling* Well Partnering 75% MOH-B 637mmbbls*** Lixus Drilling* Drilling** MOROCCO Seismic 75% reprocessing Anchois-2 Appraisal well Lixus Phase II Seismic 423Bcf*** exploration well reprocessing Kenitra Dril
Slide 12: Experienced and Operationally Excellent Team
Experienced and Operationally Excellent Team Saipem 12000 CEO RSD-1 Larry Bottomley March, 2018 Formerly at BP, Perenco, Hunt Oil and Triton Energy Drilling Manager CFO David Brecknock Julian Formerly at Ophir, Maurice- Williams Morocco Perenco, Devon, Shell and BG Formerly at Non-operated zero-cost
Slide 13: High Impact Atlantic Margins Oil & Gas Company
High Impact Atlantic Margins Oil & Gas Company Balanced portfolio with giant potential Strong Balance Material, high- Sheet through value gas Capital appraisal Discipline project Growing Experienced & Moroccan gas operationally market with excellent team attractive pricing Strategy focused on transf
Slide 14: Appendices - Portfolio
Appendices - Portfolio 14 September 2019
Slide 15: Portfolio Theme
Portfolio Theme Nova Scotia Morocco Late Jurassic Reserve 4TCF and associated liquids Panuke Deep (Encana) Sable (ExxonMobil, Shell) Argentina / Uruguay Namibia Early Cretaceous Springhill play Repsol et al BP, Shell, Total, Exxon, Statoil, Tullow, Petrobras, YPF Brazil Barreirinhas Ghana Mid Cretac
Slide 16: Morocco Summary
Morocco Summary Ownership: Chariot • Lixus 75% (Op.); ONHYM 25% Anchois-1 Gas • Kenitra 75% (Op.); ONHYM 25% production • Mohammedia 75% (Op.); ONHYM 25% Lixus MOH-B Recent Chariot Activity: RSD-1 • Zero-cost in the Rabat Deep 1 (RSD-1) dry well having achieved a full carry from Eni KEN-A • Complete
Slide 17: Morocco Portfolio – Mohammedia / Kenitra
Morocco Portfolio – Mohammedia / Kenitra Line 1 RSD-1 LBS-1 Seabed pock-marks with geochemical anomalies Seabed PLIOCENE NAPPE Anchois, LNB-1 & RJB-3 Ain El Hamra oil field Srafah E E W Thermogenic thermogenic gas discoveries oil seep Line 2 Tselfat oil field hydrocarbons in mud K source volcanoes L
Slide 18: Lixus – Anchois Satellites
Lixus – Anchois Satellites Anchois Anchois W Anchois N B Sand Top Reservoir Amplitude Anchois N NE Anchois Anchois W Anchois WSW 89* Bcf 308* Bcf Anchois WSW Anchois SW +ve Amplitude -ve Anchois SW Anchois S 2 km 61* Bcf 101* Bcf A Anchois N Anchois SW Anchois Anchois W Anchois WSW Anchois Deep 18 *
Slide 19: Lixus – Additional Prospects
Lixus – Additional Prospects Maquereau North Merged Top Reservoir Seismic Amplitude Maquereau North B Sand Equivalent Larache-A-1 Maquereau Central 311* Bcf Maquereau Central Maquereau South Merou-1 267* Bcf N Maquereau South NW Anchois W Anchois-1 205* Bcf Turbot WSW SW S Turbot +ve 281* Bcf Deep T
Slide 20: Brazil Summary
Brazil Summary 2000 m WD Jubilee Field 1 well Barreirinhas Basin Brazil Multiclient 3D Seismic 14,500 km2 400 m WD 1 well Ownership: 6 wells Chariot • BAR-M-292, 293, 313, 314; 100% (Operator) 3D seismic 775km2 1 well 2 wells Recent Chariot Activity: • Identified large structural prospect with multi
Slide 21: Brazil Portfolio
Brazil Portfolio SW NE Shell 1 well R TP-1 TP-2 R • All petroleum play elements R proven by nearby drilling TP-3 • Shallow water wells in the basin have encountered excellent quality, oil-prone source rocks modelled to be oil mature in the fetch area for Chariot’s targets • Excellent quality Tertiar
Slide 22: Namibia Summary
Namibia Summary Ownership: • PEL 71 Central Blocks: 65% (Op.); Azinam 20%; NAMCOR 10%; BEE 5% Good reservoir • PEL 67 & 72 Southern Blocks: Post-drilling 10% back-in option at no cost 2 source rocks Recent Chariot Activity: 41 API Oil • Chariot safely operated the drilling of the deepwater well on P
Slide 23: Namibia Portfolio
Namibia Portfolio Prospect S DRY R B S V U R R R R R R Inboard kitchen • Prospect S encountered Primary Source Secondary Source R Primary Reservoir R Secondary Reservoir water bearing turbidite reservoir sands • Post-well analysis underway as part of the well failure analysis • Integration of all we
Slide 24: Appendices - Corporate
Appendices - Corporate 24 September 2019
Slide 25: Board of Directors
Board of Directors Larry Bottomley George Canjar Adonis Pouroulis Robert Sinclair Chris Zeal Andrew Hockey Chief Executive Non-Executive Non-Executive Non-Executive Non-Executive Non-Executive Officer Chairman Director Director Director Director Over 35 years with Over 35 years with Extensive Over 4
Slide 26: Corporate Snapshot
Corporate Snapshot Key Shareholders Market Statistics Shareholders* % Total Board & Senior Management 8.4 Listing AIM, London Including Westward Investments Limited (A Pouroulis - 7.8 Ticker Symbol CHAR Director & Founder) YF Finance 7.0 Issued Shares (at 23 September 2019) 367,532,909 Protech Namib
Slide 27: Progress to Date
Progress to Date Chariot was founded in 2008 with an IPO on AIM on a Namibia-focused exploration portfolio. Acquired Acquired Re-award Acquired Option Acquired BAR-M-292,293,313,314 Mohammedia Recon Central blocks Mohammedia & Kenitra Southern Blocks Lixus Brazil Morocco Namibia Morocco Namibia Moro
Slide 28: Countries
Countries MOROCCO: Chariot Morocco: GDP: US$109.3 billion ; Annual Growth: 4.1% Population: 34.3 million; Inflation: 0.8% Tax & Royalty: Major Industries: automotive parts; phosphate mining and processing; aerospace; food processing; leather Atlantic Margins Explorer • 10-year Corporation Tax Holida
Slide 29: Chariot Portfolio and our neighbours
Chariot Portfolio and our neighbours MOROCCO Chariot’s acreage holdings transposed on to southern UK BRAZIL NAMIBIA 29 September 2019
Slide 30: Portfolio Maturity
Portfolio Maturity Contract Area Acquired Working Approximate Operator Ongoing Seismic interest licence area commitments database (km2) Morocco Offshore Lixus 2019 75% 2,390 Chariot Seismic 950km 2D reprocessing 1,425km2 3D Kenitra 2017 75% 1,400 Chariot None 710km2 3D Mohammedia 2016 75% 4,654 Char
Slide 31: Prospect Inventory
Prospect Inventory Netherland Sewell and Associates Inc. (“NSAI”) Morocco: Morocco: Brazil: Namibia: All Contingent Resource (“CR”) and Prospective Resource (“PR”) estimates are gross and based on the evaluation of 3D seismic data RRR1 Remaining Recoverable Resource * Netherland Sewell and Associate