Chariot Limited · LSE:CHAR
Chariot — Investor Presentation (June 2019)
31 slides from Chariot's investor presentation, June 2019
Slide 1: Oil Capital Presentation
Oil Capital Presentation High Impact Atlantic Margins Oil and Gas Company June 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 Material, • A
Slide 4: Balanced Exploration Portfolio with Giant Potential
Balanced Exploration Portfolio with Giant Potential Brazil Morocco Namibia • Identified large structural prospect • RSD-1 well indicates the potential • Prospect S well encountered with multiple stacked targets from for a new petroleum system with excellent quality water bearing proprietary 3D seism
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: 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 Deep), untested in the well, m
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 Lixus • Anchois & satellites are an amplitude-supported 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 Power plants • Moroccan energy demand is forecast Pipelines Coal to double between 2015 and 20301 GME Export ~1200 mmscf/d Planned pipelines Fuel Oil • Moroccan power generation is Tahaddart CCGT (400MW) Gas Planned LNG Re- ~50 mmscf/d principal
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 Larry Bottomley RSD-1 March, 2018 Formerly at BP, Perenco, Hunt Oil and Triton Energy Drilling Manager CFO David Brecknock Julian Maurice- Williams Formerly at Ophir, Perenco, Devon, Formerly at BDO Morocco Shell and BG Non-operated zero-
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 appraisal Capital Discipline project Growing Experienced & Moroccan gas operationally market with excellent team attractive pricing Strategy focused on transf
Slide 14: Appendices - Portfolio
Appendices - Portfolio June 2019 14
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: • Zero-cost in the Rabat Deep 1 (RSD-1) dry well RSD-1 having achieved a full carry from Eni • Completed CPR
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 Satellite Prospects
Lixus – Anchois Satellite Prospects Anchois Anchois W B Sand Top Reservoir Amplitude Anchois N B NE Anchois N Anchois Anchois W Anchois WSW 89* Bcf 308* Bcf A Anchois WSW Anchois SW A Anchois SW Anchois S 61* Bcf 101* Bcf A B Anchois N Anchois SW Anchois Anchois W Anchois WSW Anchois Deep * Netherla
Slide 19: Morocco Portfolio – Lixus – Additional prospects
Morocco Portfolio – Lixus – Additional prospects Maquereau North Maquereau N,C,S 254** Bcf Maquereau Central 93** Bcf Maquereau South Regional amplitude map over Lixus 3D surveys 102** Bcf 2C and Prospective Resource (PR) of Lixus inventory (Bcf) Turbot Tombe PR PR 2C PR 330** Bcf 66** Bcf * Netherl
Slide 20: Brazil Summary
Brazil Summary 2000 m WD Jubilee Field 1 well Brazil Barreirinhas Basin Multiclient 3D Seismic 400 m WD 1 well 14,500 km2 6 wells Ownership: Chariot 3D seismic • BAR-M-292, 293, 313, 314; 100% (Operator) 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% • PEL 67 & 72 Southern Blocks: Post-drilling 10% back-in option at no cost Good reservoir Recent Chariot Activity: 2 source • Chariot safely operated the drilling of the deepwater well on Prospect rocks S i
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 June 2019 24
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 experi
Slide 26: Corporate Snapshot
Corporate Snapshot Key Shareholders Market Statistics Shareholders* % Total Board & Senior Management 8.2 Listing AIM, London Including Westward Investments Limited (A Pouroulis - 7.8 Ticker Symbol CHAR Director & Founder) YF Finance 7.0 Issued Shares (at 11 June 2019) 367,259,909 Protech Namibia (P
Slide 27: Progress to Date
Progress to Date Chariot was founded in 2008 with an IPO on AIM raising US$90m 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 Moroc
Slide 28: Countries
Countries MOROCCO NAMIBIA BRAZIL ATLANTIC MARGINS EXPLORER GDP US$109.3 billion US$13.24 billion US$2.0 trillion South Atlantic 100 Ma Reconstruction Annual Growth 4.1% 3.9% 1% Population 34.3 million 2.5 million 208.8 million Inflation 0.8% 4.5% 4.5% Major Industries Automotive parts; phosphate Mea
Slide 29: Chariot Portfolio and our neighbours
Chariot Portfolio and our neighbours MOROCCO Chariot’s acreage holdings transposed on to southern UK BRAZIL NAMIBIA June 2019 29
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 Unrisked Gross (100 percent) Unrisked Gross (100 percent) Probability Contingent Gas resources* (BCF) Probability Block/ Prospective Gas resources of Geologic Block/ Prospective Gas resources (BCF) of Geologic Play Pro