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CHARIOT LIMITED

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Chariot : Corporate Presentation – May 2022

05/27/2022 | 06:21am EDT

AFRICA FOCUSSED TRANSITIONAL ENERGY GROUP ON THE DOORSTEP OF EUROPE

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 relied upon in any manner or for any purpose whatsoever.

These Presentation Materials must not be used or relied upon for the purpose of making any investment decision or engaging in an investment activity and any decision in connection with a purchase of shares in the Company must be made solely on the basis of the publicly available information. Accordingly, neither the Company nor its directors makes any representation or warranty in respect of the contents of the Presentation Materials.

The information contained in the Presentation Materials is subject to amendment, revision and updating in any way without notice or liability to any party. The presentation materials contain forward-looking statements which involve risk and uncertainties, and actual results and developments may differ materially from those expressed or implied by these statements depending on a variety of factors. All opinions expressed in these Presentation Materials are those solely of the Company unless otherwise stated. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained herein, which have not been independently verified. The delivery of these Presentation Materials shall not at any time or in any circumstance create any implication that there has been no adverse change, or any event reasonably likely to involve any adverse change, in the condition (financial or otherwise) of the Company since the date of these Presentation Materials.

The Presentation Materials are confidential and being supplied to you for your own information and may not be reproduced, further distributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (except the recipient's professional advisers) or published, in whole or in part, for any purpose whatsoever. The Presentation Materials may not be used for the purpose of an offer or solicitation to subscribe for securities by anyone in any jurisdiction.

2

Africa Focused Transitional Energy Group on the Doorstep of Europe

Significant Moroccan offshore gas development with the potential to positively impact a growing economy, heavily reliant on energy imports and coal:

  • Successful appraisal and exploration well completed in 2022, close to major gas pipeline into Europe
  • Net NPV10* US$900m & IRR* > 45% (pre-drill resource)
  • Additional gas volumes discovered across 150m net pay
  • Targeting first gas production in 2024/2025
  • Chariot operator : 75% equity

Develop, finance, build, and operate renewable energy projects selling lower cost, sustainable and reliable power to mining operations in Africa:

  • Working in partnership with Total Eren, Chariot hold rights for up to 49% project equity in power projects
  • 1st renewable project completed and operational - 15 MW
  • Two renewable projects in development - 470 MW
    • Including one of the largest private sector projects in Africa
  • Green Hydrogen project with up to 10 GW power potential

Development of Gas Discoveries

Material

Delivering on Power Pipeline

New Gas Basin De-risked

Cashflows

Green Hydrogen Project in Development

3

*Internal estimate base case supported by audited 2C 361Bcf resource, 70mmscfd, 8-15$/mcf to power, industry and Spain

Transitional Gas: Anchois Development + Access to European Gas Market

  • Morocco is a premium investment location with world-class fiscal terms
  • Growing power and industrial demand underpin attractive local markets
  • Favourably located with existing gas infrastructure
  • 75% equity & operator
  • Anchois has material gas resources, low subsurface risk and can be developed through conventional technology

1

Power

SPAIN

2

Industry

Pipelines

3

Spain

3

Planned Pipelines

Chariot 3D Seismic

Rissana

2

Tangier

Existing CCGT

1

Lixus

ALGERIA

ConocoPhillips

Predator

SDX

RSD-1

1

Kenitra

2

1

1

RABAT

Mohammedia

2

MOROCCO

Sound

2

Repsol

Casablanca

PORTFOLIO, GAS INFRASTRUCTURE &

GAS MARKET OPTIONALITY

Anchor Gas Offtake key gas sales terms agreed; Downstream Partnering progressing

Further Upside: Access to European

Gas Market

Pre-Drill 2C Base Case

Net NPV10 US$900m

IRR > 45%*

Pre-Drill 2C Base Case >US$200m

Annual Revenue*

ESG & Sustainability at Anchois

Spanish Gas Price

Reduction of 360,000 tonnes CO2 per year**

>90% of all primary energy imported

Gas to fuel Industry & Economic Growth

Morocco Power Generation by Fuel in 2019

70

MIBGAS Gas Price***

(40 TWh Total)

60

MMbtu/

4%

16%

50

40

12%

USD

30

1%

67%

20

10

Coal

Oil

Gas

Hydro

Renewables

0

2019

2020

2021

2022

4

Sources: IEA, ONEE, BP Energy Statistical Review, Gas Strategies, ONHYM, WLPGA

*Internal estimate base case supported by audited 2C 361Bcf resource, 70mmscfd, 8-15$/mcf to power, industry and Spain

**Replacement of 300 MW of coal power generation with gas (c.50 mmscfd) using EIA estimate of 0.05 vs 0.09 tonnes of carbon per mmbtu (gas vs coal)

***https://www.mibgas.es/en (Weighted Average Gas Price: 10 day rolling average @ 1.19 USD/EUR )

Gas Drilling Campaign - Exploration & Appraisal Success

Drilling campaign completed safely, on time and on budget

0

5

Efficient Operation - Time vs Depth Chart

55

60

65

Anchois-2 appraisal &

Wells suspended as

10

15

20

25

30

35

40

45

50

Days

exploration well drilled in

potential future producers

0

31 days

61 days

Dec 2021 - Jan 2022

500

Wider prospectivity in

~150m gas bearing

1,000

different plays across the

sands discovered across

MD)

1,500

licence de-risked

(m

7 reservoirs

Depth

Comprehensive sub-surface

>96% methane consistent

2,000

gas composition in all

formation testing

reservoirs requiring minimal

2,500

programme including

processing; no impurities

Wireline Evaluation

Anchois-1 [2009]

12 gas samples

3,000

Anchois-2 [2022]

(H2S or CO2)

Anchois-1

Diagram Key

Discovery

PLIOCENE

MIOCENE

Well

Anchois North

55m

150m

(Footwall)

Plie prospect

Net Pay

Net Pay

prospects de-risked

A Sand

A

Gas bearing sands

Well design not

De-risked volumes

optimised for A sands

B

B Sand (Upper)

in undrilled sands

B Sand (Lower)

C

Water bearing

C Gas Sands

Significantly de-risked gas

sands

Gas in

in adjacent fault blocks

M Gas Sands

M

Anchois-1

Gas sample

O Gas

O Sand

location

Sands

WEST

Good quality sand drilled at TD,

EAST

De-risking thick O sands in other targets

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Chariot Oil & Gas Ltd. published this content on 27 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2022 10:19:47 UTC.


© Publicnow 2022
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Financials (USD)
Sales 2021 - - -
Net income 2021 -3,35 M - -
Net cash 2021 20,4 M - -
P/E ratio 2021 -30,1x
Yield 2021 4,46%
Capitalization 239 M 239 M -
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees -
Free-Float 83,8%
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Managers and Directors
Adonis Pouroulis Founder
Julian Robert Cecil Maurice-Williams Chief Financial Officer & Executive Director
George Frances Canjar Non-Executive Chairman
Duncan McIntosh Wallace Executive Director & Technical Director
Christopher John Zeal Independent Non-Executive Director
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