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>• The US$2.7 mm cash position at the end of June is in line with our expectations.</li><li>Onshore Morocco, permitting is under way with drilling now expected to start in early 2024 with up to four wells.</li><li>Investment profile unchanged: Value and newsflow Announcing an industry partner and taking FID at the Anchois project remain the key near-term catalysts and would take our Core NAV to ~£0.60 per share.</li></ul>

• The US$2.7 mm cash position at the end of June is in line with our expectations.Onshore Morocco, permitting is under way with drilling now expected to start in early 2024 with up to four wells.Investment profile unchanged: Value and newsflow Announcing an industry partner and taking FID at the Anchois project remain the key near-term catalysts and would take our Core NAV to ~£0.60 per share.

Chariot Limited (AIM: CHAR): Imminent partner in Morocco

<ul><li>• Following the announcement of 10 July, Chariot has now been awarded the Loukos onshore gas licence with 75% WI (ONHYM: 25%). • The licence covers an area of approximately 1,371 km2 and is adjacent to Chariot’s Lixus and Rissana offshore licences. • The previous operator relinquished the Loukos licence before Anchois was recognized as a discovery and the related play was at the time poorly understood.</li></ul>

• Following the announcement of 10 July, Chariot has now been awarded the Loukos onshore gas licence with 75% WI (ONHYM: 25%). • The licence covers an area of approximately 1,371 km2 and is adjacent to Chariot’s Lixus and Rissana offshore licences. • The previous operator relinquished the Loukos licence before Anchois was recognized as a discovery and the related play was at the time poorly understood.

Chariot Limited (AIM: CHAR): New Moroccan upstream licence award

<ul>
<li>Chariot has raised US mm of new equity priced at £0.14 per share.</li>
<li>The company is also looking to raise up to an additional US$3 mm through an open offer. </li>
<li>The proceeds of the raise will be used to drill four new low cost/low risk exploration wells onshore Morocco in a licence expected to be awarded imminently.</li>
</ul>


Chariot has raised US mm of new equity priced at £0.14 per share.
The company is also looking to raise up to an additional US$3 mm through an open offer. 
The proceeds of the raise will be used to drill four new low cost/low risk exploration wells onshore Morocco in a licence expected to be awarded imminently.


Chariot Limited (AIM: CHAR): Adding portfolio depth and near term newsflow

<ul>
<li>Arrow Exploration (AXL LN)C; target price of £0.50 per share: CN-1 well in production at 1 mbbl/d from the C7 sands – The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1.1 mbbl/d (550 bbl/d net to Arrow).</li>
<li>During the flow test, the sands flowed at a peak rate of 1,272 bbl/d.</li>
<li>The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).</li>
</ul>


Arrow Exploration (AXL LN)C; target price of £0.50 per share: CN-1 well in production at 1 mbbl/d from the C7 sands – The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1.1 mbbl/d (550 bbl/d net to Arrow).
During the flow test, the sands flowed at a peak rate of 1,272 bbl/d.
The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).


<ul>
<li>Cash at the end of December was in line with our expectations (~US$12 mm). </li>
<li>These offers would leave Chariot with a material stake in the project and would include an important upfront cash consideration (on top of a carry).</li>
<li>Chariot has already spent ~US$50 mm in the project and expects to recover a significant amount.</li>
</ul>


Cash at the end of December was in line with our expectations (~US$12 mm). 
These offers would leave Chariot with a material stake in the project and would include an important upfront cash consideration (on top of a carry).
Chariot has already spent ~US$50 mm in the project and expects to recover a significant amount.


Chariot Limited (AIM: CHAR): Multiple farm-in offers for Anchois received from E&P companies

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Chariot (CHAR LN)

Chariot Limited (AIM: CHAR): Imminent partner in Morocco

• The US$2.7 mm cash position at the end of June is in line with our expectations. Onshore Morocco, permitting is under way with drilling now...

Auctus Advisors

Chariot Limited (AIM: CHAR): New Moroccan upstream licence award

• Following the announcement of 10 July, Chariot has now been awarded the Loukos onshore gas licence with 75% WI (ONHYM: 25%). • The licence covers...

Auctus Advisors

Chariot Limited (AIM: CHAR): Adding portfolio depth and near term newsflow

Chariot has raised US mm of new equity priced at £0.14 per share.The company is also looking to raise up to an additional US$3 mm through an open...

Auctus Advisors

Auctus on Friday - 23/06/2023

The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).

Auctus Advisors

Chariot Limited (AIM: CHAR): Multiple farm-in offers for Anchois received from E&P companies

Cash at the end of December was in line with our expectations (~US$12 mm). These offers would leave Chariot with a material stake in the project...

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)