Chariot Limited·Energy
Chariot Limited, together with its subsidiaries, engages in the oil and gas exploration and appraisal activities. The company operates through Transactional Gas and Transactional Power segments. The company holds interests in the Rissana offshore license that covers an area of approximately 8,489 square kilometers; and Lixus license comprising an area of approximately 2,390 square kilometers in Morocco. It also focuses on mining power projects in Africa. The company was formerly known as Chariot Oil & Gas Limited and changed its name to Chariot Limited in June 2021. Chariot Limited was incorporated in 2007 and is based in Saint Peter Port, Guernsey.
Energy
Oil & Gas Exploration & Production
79
2010-10-15
-0.38

Chariot Limited (OIGLF) Discusses Upstream Oil and Gas Production Deal and Renewable Power Developments Transcript

Chariot Ltd (AIM:CHAR, OTC:OIGLF) has spent years accumulating exploration acreage across Africa, but Friday's announcement marks something fundamentally different: a direct route to oil production revenues at a time when the commodity it hopes to sell has rarely been more valuable. The deal, structured through Angolan independent Etu Energias, gives Chariot economic exposure to approximately 4,000 barrels of oil equivalent per day from Block 14, a mature, Chevron-operated deepwater asset offshore Angola that has produced more than 900 million barrels since 1999 and carries a licence now extended to 2038.

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Chariot Ltd (AIM:CHAR, OTC:OIGLF) has moved closer to securing cash-generating exposure to offshore Angola production after helping finance Etu Energias' acquisition of stakes in Blocks 14 and 14K, a deal that gives the AIM-listed group economics linked to around 4,000 barrels of oil per day. The company said a subsidiary of Etu has now signed a sale and purchase agreement to buy a 20% working interest in Block 14 and a 10% interest in Block 14K.