Chariot Limited · LSE:CHAR
Chariot — Chariot Oil & Gas — FY2018 Earnings Presentation
12 slides from Chariot's earnings presentation, April 2019
Slide 1: Final Results YE 31 December 2018
Final Results YE 31 December 2018 C HARIOT OIL & GAS Morocco Brazil Namibia South Atlantic 100 Ma Reconstruction High Impact Atlantic Margins Oil and Gas Company April 2019 1
Slide 2: Disclaimer and forward looking statements
Disclaimer and forward looking statements C HARIOT OIL & GAS 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 t
Slide 3: 2018 and Post-Period Highlights
2018 and Post-Period Highlights C HARIOT OIL & GAS Delivery of Drilling Programme at Optimum Point of Cost Cycle: Saipem 12000 Achieved Zero Cost Drilling: Rabat Deep 1, Morocco - Dry: Successful partnering RSD-1 meant drilling was achieved at zero cost to Chariot. Information from the well provides
Slide 4: 2018 and Post Period Highlights: Significant technical developments
2018 and Post Period Highlights C HARIOT Significant technical developments OIL & GAS Morocco New venture licence secured: Lixus Offshore – capturing the Anchois-1 gas discovery, with 5 low risk tie-back prospects and 5 low risk stand-alone prospects. On-block discovery and prospect inventory with r
Slide 5: Audited Results – Year Ended 31 December 2018
C HARIOT Audited Results – Year Ended 31 December 2018 OIL & GAS Year to 31 December Year to 31 December 2018 2017 Audited Audited US$m US$m Capital discipline – 2018 year end cash of US$19.8m (2017: US$15.2m). Income Statement Extract Continued prudent G&A – no change on prior year. G&A (3.4) (3.4)
Slide 6: Capital discipline and allocation of funds
Capital discipline and allocation of funds C HARIOT OIL & GAS Prudent financial management of funds 2013 to 2018: Management of Annual Cash Overhead ($m) 2013 to date: $68.3m End 2012 Cash End 2012 Cash Investment in the portfolio $16.5m $19.8m Investment in the portfolio Equity 2018 YE raise 2018 C
Slide 7: Anchois - Material, High Value Gas Appraisal Project
Anchois - Material, High Value Gas Appraisal Project C HARIOT OIL & GAS Anchois Discovery Well Key Facts: Gas Sand A Anchois-1 gas discovery in 388 m WD, 40km from coastline 2C Resource of 307 Bcf* in Gas Sand A and Gas Sand B Prospective Resource of 116 Bcf* in Gas Sand C (Anchois Gas Sand B Deep),
Slide 8: Lixus - Additional on-block running room
Lixus - Additional on-block running room C HARIOT OIL & GAS 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 Lixus Anchois & satellites are an amplitude-supported discovery an
Slide 9: Strong value generation from Anchois & Satellites
Strong value generation from Anchois & Satellites C HARIOT OIL & GAS Anchois Phase I potential development Phase I 423 Bcf 90 mmscf/d (2C + 2U)* Excellent quality reservoirs expected to 2C + 2U (A, B & C sand) deliver high rate wells 70 mmscf/d 307 Bcf (2C)* In the 2C case, 4 production wells (one 2
Slide 10: Growing Moroccan Gas Market
Growing Moroccan Gas Market C HARIOT OIL & GAS Pipelines Power plants Moroccan Power generation is Coal MEG Export ~1.2 Bcf/d principally from imported coal, fuel Planned Fuel Oil pipelines oil and gas1 Tahaddart CCGT (400MW) Gas Moroccan energy demand is ~50 mmscf/d Planned LNG Hydro Re-Gas plant f
Slide 11: Multiple Value Triggers
Multiple Value Triggers C HARIOT OIL & GAS 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 423Bcf*** exploration well Seismic reproc
Slide 12: High Impact Atlantic Margins Oil & Gas Company
High Impact Atlantic Margins Oil & Gas Company C HARIOT OIL & GAS Balanced portfolio with giant potential Strong Balance Material, Sheet through high-value Capital gas appraisal Discipline project Growing Experienced & Moroccan gas operationally market with excellent team attractive pricing Strategy