REG - Chariot Limited - Corporate Overview and Investor Webcast

ChariotAnnouncement

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RNS Number : 5298Z  Chariot Limited  08 April 2026

 

8 April 2026

 

Chariot Limited

 

("Chariot", the "Company" or the "Group")

 

Corporate Overview and Investor Webcast

 
 

Chariot Limited (AIM: CHAR), the Africa focused energy group, today provides
a corporate overview and outlook for its Upstream and Renewable Energy
pillars.

 

Following the recently announced transaction offshore Angola which will bring
material cashflows into the Group, Chariot's focus going forward will be to
further grow its upstream portfolio and maximise value from its renewable
energy business.

 

Chariot will be hosting a webcast for existing and potential investors at
10.00am BST tomorrow, 9th April. Investors are able to register for the event
ahead of time and can do so by clicking on the link below. There will be a
Q&A session at the end and participants will be able to submit their
questions before and during the webcast. The presentation and recording will
then be available on the Company's website.

 

https://engageinvestor.news/CHAR_IP26 (https://engageinvestor.news/CHAR_IP26)
 

 

Adonis Pouroulis, CEO of Chariot commented:

 

"With our recent transaction offshore Angola, we have secured an economic
exposure to oil producing assets which marks a new phase for Chariot as it
introduces a material income stream into our Company. As a result of this
deal, we have secured long-term production revenues which will underpin our
future plans, our focus will now be on growing our asset base across our
upstream portfolio and we are excited by the opportunities we are evaluating
at the moment.

 

We are also extremely proud of what we have built within our Renewable Power
business and what the team has achieved here alongside the Etana Energy team.
We co-founded what is one of the fastest growing energy trading companies in
South Africa today and have reached financial close on two utility scale wind
projects with the support from high calibre financial institutions. Having
completed these financings, we have laid solid foundations for the future and
we are now looking to realise this underlying value and reinvest in our
upstream growth to ensure we capture the opportunity to deliver most value to
shareholders."

 

UPSTREAM

 

Angola - Production

 ·   Secured substantial economic exposure to oil producing assets offshore Angola
 ·   Part financed Etu Energias S.A's ("Etu Energias") acquisition of a 20% and 10%
     respective interest in Blocks 14 and 14K alongside Shell Western Supply and
     Trading Ltd ("Shell Trading")
 ·   Sale and purchase agreement now signed by Etu Energias and closing is expected
     in H2 2026 with an effective date of 1(st) January 2025
 ·   Block 14 is a prolific mid-to-late-life producing asset with material upside
     in existing discoveries
 ·   Chariot is entitled to the economics associated with current production of
     4,000 bopd which has a base case indicative net NPV(10) in excess of US$100
     million at a US$60/bbl oil price
 ·   Collaboration with Shell Trading and Etu Energias could unlock further growth
     opportunities

 

Morocco - Development & Exploration

 ·   Re-scaled the Anchois gas project, located in the Lixus Offshore licence, to
     optimise a development focused on the gas resource volumes found in the
     Anchois-1 and Anchois-2 wells leveraging the existing subsea-to-shore
     development plan which is supported by a previously completed Front End
     Engineering & Design (FEED) stage work and has already obtained
     environmental licensing approvals
 ·   EPCI turnkey proposal received for the Anchois development demonstrates the
     opportunity to substantially reduce previously projected capex requirements
     °                                         Production capacity maintained at up to 105mmscfd
     °                                         Economics remain robust with a gross NPV(10) of US$0.65 - 1 billion
 ·   Increased third party partnering interest in offshore acreage, including basin
     scale exploration opportunities across a range of plays, with adjacent block
     recently awarded to Murphy Oil Corporation
 ·   Discussions are ongoing with ONHYM regarding the next steps for Loukos Onshore
 ·   Partnering discussions underway with large industry players and Moroccan
     investors across both Lixus and Rissana licences

 

 

New Ventures

 ·   Maturing pipeline of opportunities covering a range of production, development
     and exploration assets within Africa in line with our previously announced
     strategy
 ·   Progressing multi-billion-barrel opportunity in Namibia with a ten percent
     back in right in previously operated 2714 A&B blocks

 

 

RENEWABLES:

 

 ·   Chariot has built a South Africa-focused renewable energy business, including
     founding a leading electricity trading platform and securing material stakes
     in two large wind generation projects
 ·   These ventures have been supported through a series of financing transactions
     completed at subsidiary level
 ·   With these two future revenue streams now financed, management is focused on
     realising the value of this business

 

 

Electricity Trading - Etana Energy

 ·   Continuing to execute its business plan at pace with 400MW of wind and solar
     under development and over 500MW of shovel-ready grid connectable projects in
     pipeline
     °                                         Recent transactions include a significant Power Purchase Agreement to deliver
                                               220MW over a 10-year term to Sibanye Stillwater Mining Group and 150MW of
                                               solar power secured in sole offtake from new Orkney solar project
 ·   Financings from Standard Bank, Norfund, British International Investment and
     GuarantCo ensure bankability and enable the roll out of new generation
     projects

 

 

Generation

 ·   Chariot holds a material stake in two wind projects, Zen and Bergriver, with a
     combined capacity of 194MW, currently under construction, led by Acciona
     Energias
 ·   Significant financing package of project finance debt combined with third
     party equity investment and mezzanine secured in December 2025 with Standard
     Bank, Investec and Mahlako A Phahla Financial Services, enabled financial
     close
 ·   Progressing a pipeline of renewable projects for First Quantum Minerals in
     Zambia, Tharisa in South Africa and Karo Mining in Zimbabwe

 

 

Green Hydrogen

 ·   Work ongoing alongside TEH2 across Project Nour in Mauritania with focus on
     scoping an early stage green iron project

 

 

Enquiries

 

 Chariot Limited                                             +44 (0)20 7318 0450

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

 Cavendish Capital Markets Limited (Nomad and Joint Broker)  +44 (0) 20 7397 8900

 Derrick Lee
 Hannam & Partners (Joint Broker)                            +44 (0) 20 7907 8500

 Neil Passmore, Leif Powis

 Celicourt Communications (Financial PR)                     +44 (0) 20 7770 6424

 Mark Antelme, Charles Denley-Myerson, Kathleen Beams

 

 

NOTES FOR EDITORS:

 

Chariot is an Africa focused energy group with two core business streams:
Upstream Oil and Gas and Renewable Power.

 

Chariot's Upstream Oil and Gas pillar is focused on building out a full value
chain growth business within Africa. Alongside securing a footprint in Angola,
Chariot holds a diverse portfolio in Morocco and is pursuing a range of new
ventures with a focus on production opportunities as well as its ongoing
exploration interests in Namibia.

 

Chariot's Renewable Power business is focused on providing competitive,
sustainable and reliable energy through building, generating and trading
renewable power in South Africa as well as progressing the development of its
power-to-mining projects on the continent. Chariot is also continuing to
advance its green hydrogen asset, Project Nour in Mauritania.

 

The ordinary shares of Chariot Limited are admitted to trading on AIM under
the symbol 'CHAR'.

 

 

 

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