Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Equity Bottom-Up

<ul><li>Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project.</li><li>The FEED confirms a plateau production of 105 mmcf/d from three wells including the existing Anchois-2 well, subsea infrastructure to an onshore central processing facility and an onshore gas pipeline to the Maghreb Europe Gas Pipeline (tie-in agreement already signed).</li><li>The future development drilling at Anchois will also target 754 bcf of additional gross 2U prospective resources with 49-61% chance of success.</li></ul>

Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project.The FEED confirms a plateau production of 105 mmcf/d from three wells including the existing Anchois-2 well, subsea infrastructure to an onshore central processing facility and an onshore gas pipeline to the Maghreb Europe Gas Pipeline (tie-in agreement already signed).The future development drilling at Anchois will also target 754 bcf of additional gross 2U prospective resources with 49-61% chance of success.

Chariot Limited (AIM: CHAR): One step closer to FID – Production ramp-up quicker than expected

<ul><li>Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares.</li><li>The consideration for the acquisition is US$0.5 mm payable in Chariot shares on completion.</li><li>Further consideration of up US$0.5 mm, also payable in Chariot shares, would be due on the achievement of financial close on further water projects.</li></ul>

Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares.The consideration for the acquisition is US$0.5 mm payable in Chariot shares on completion.Further consideration of up US$0.5 mm, also payable in Chariot shares, would be due on the achievement of financial close on further water projects.

Chariot Limited - Bringing Water Desalination Capabilities in House

<ul><li>Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable.</li><li>The gas will be delivered via the Maghreb-Europe Gas Pipeline.</li><li>Value and newsflow Taking FID at the Anchois project in Morocco remains the key near term catalyst and would take our Core NAV to ~£0.65 per share.</li></ul>

Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable.The gas will be delivered via the Maghreb-Europe Gas Pipeline.Value and newsflow Taking FID at the Anchois project in Morocco remains the key near term catalyst and would take our Core NAV to ~£0.65 per share.

Chariot Limited - Agreeing Long Term Offtake Gas Sales Principles Is a Very Important Step

<ul><li>Chariot continues to execute on its strategy to build a 1 GW (gross) power business.</li><li>Chariot and Total Eren have announced that the partners will work on a solar photovoltaic (PV) project that will provide competitive electricity for the Karo Platinum Project, in Zimbabwe.</li><li>Due to the nature of the operator of the Karo mine, we believe that Chariot will take 49% equity in the power project.</li></ul>

Chariot continues to execute on its strategy to build a 1 GW (gross) power business.Chariot and Total Eren have announced that the partners will work on a solar photovoltaic (PV) project that will provide competitive electricity for the Karo Platinum Project, in Zimbabwe.Due to the nature of the operator of the Karo mine, we believe that Chariot will take 49% equity in the power project.

Chariot Limited (AIM: CHAR): Adding a new renewable power project in Zimbabwe

<ul><li>Chariot (CHAR LN) C; Target price of £0.55 per share: Meeting with management: Operations on track – The Anchois project continues to make progress towards FID in early 2023.</li><li>We understand that the banking syndicate is likely to include Moroccan banks and that debt could represent 70% of the overall cost of the project to first gas.</li><li>GeoPark (GPRK US)C; Target price of US$31 per share – 3Q22 production had already been reported.</li></ul>

Chariot (CHAR LN) C; Target price of £0.55 per share: Meeting with management: Operations on track – The Anchois project continues to make progress towards FID in early 2023.We understand that the banking syndicate is likely to include Moroccan banks and that debt could represent 70% of the overall cost of the project to first gas.GeoPark (GPRK US)C; Target price of US$31 per share – 3Q22 production had already been reported.

United Kingdom

Chariot is an Africa-focused transitional energy group with three core business streams: Transitional Gas, Transitional Power, and Green Hydrogen. It focuses on high-value gas development projects offshore Morocco, provides sustainable and reliable renewable energy and water solutions across Africa, and develops green hydrogen projects. Chariot was founded in 2007 and is headquartered in London, United Kingdom.

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Chariot (CHAR LN)

Chariot Limited (AIM: CHAR): One step closer to FID – Production ramp-up quicker than expected

Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project.

Auctus Advisors

Chariot Limited - Bringing Water Desalination Capabilities in House

Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares. The consideration for the acquisition is US$0.5 mm payable in Chariot...

Auctus Advisors

Chariot Limited - Agreeing Long Term Offtake Gas Sales Principles Is a Very Important Step

Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable.

Auctus Advisors

Chariot Limited (AIM: CHAR): Adding a new renewable power project in Zimbabwe

Chariot and Total Eren have announced that the partners will work on a solar photovoltaic (PV) project that will provide competitive electricity...

Auctus Advisors

Auctus on Friday - 11/11/2022

Chariot (CHAR LN) C; Target price of £0.55 per share: Meeting with management: Operations on track – The Anchois project continues to make progress...

Auctus Advisors

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