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>Drilling operations have commenced on the Anchois East well (now named Anchois-3). </li>
<li>The well has three objectives. An initial pilot hole will be drilled to evaluate the potential of the Anchois Footwall prospect, located in an undrilled fault block to the east of the main field with a 2U Prospective Resource estimate of 170 bcf in the main O Sand target.</li>
<li>Our unrisked NAV for this prospect is £0.05/sh. We carry a 61% chance of success. </li>
</ul>


Drilling operations have commenced on the Anchois East well (now named Anchois-3). 
The well has three objectives. An initial pilot hole will be drilled to evaluate the potential of the Anchois Footwall prospect, located in an undrilled fault block to the east of the main field with a 2U Prospective Resource estimate of 170 bcf in the main O Sand target.
Our unrisked NAV for this prospect is £0.05/sh. We carry a 61% chance of success. 


Chariot Limited (AIM: CHAR): Commencing Drilling Operations at High Impact Well in Morocco

<ul>
<li>Chariot has raised US$6.4 mm of new equity (US$7 mm before expenses) priced at 6.5 p per share.</li>
<li>Management and insiders have contributed ~US$1 mm to the raise.</li>
<li>The company was initially looking to raise only US$6 mm (before expenses) but the fundraising was oversubscribed.</li>
</ul>


Chariot has raised US$6.4 mm of new equity (US$7 mm before expenses) priced at 6.5 p per share.
Management and insiders have contributed ~US$1 mm to the raise.
The company was initially looking to raise only US$6 mm (before expenses) but the fundraising was oversubscribed.


Chariot Limited (AIM: CHAR): Potentially entering Namibia offshore and boosting balance sheet

<ul>
<li>Chariot has signed Heads of Terms with Vivo Energy for the future offtake from the Loukos onshore licence where natural gas has been encountered at Dartois.</li>
<li>Up to 3 mmcf/d would be initially sold to the CNG midstream business under a long-term gas sales agreement.</li>
<li>Vivo intends to design, fund, construct and operate a CNG plant and virtual distribution network to transport natural gas from a number of sources to existing and new industrial customers in Morocco.</li>
</ul>


Chariot has signed Heads of Terms with Vivo Energy for the future offtake from the Loukos onshore licence where natural gas has been encountered at Dartois.
Up to 3 mmcf/d would be initially sold to the CNG midstream business under a long-term gas sales agreement.
Vivo intends to design, fund, construct and operate a CNG plant and virtual distribution network to transport natural gas from a number of sources to existing and new industrial customers in Morocco.


Chariot Limited (AIM: CHAR): Key step towards developing future gas to industry business onshore Morocco

<ul>
<li>The FY23 financials were in line with our forecasts.</li>
<li>The high impact Anchois East well continues to be expected to spud in August.</li>
<li>A drilling success could increase the size of Anchois to over 1 tcf (300 bcf net to Chariot).</li>
</ul>


The FY23 financials were in line with our forecasts.
The high impact Anchois East well continues to be expected to spud in August.
A drilling success could increase the size of Anchois to over 1 tcf (300 bcf net to Chariot).


Chariot Limited (AIM: CHAR): High impact well offshore Morocco on track to spud in August

<ul>
<li>The OBA-1 well onshore Morocco has encountered an approximate 70 m gross interval containing elevated resistivities coincident with elevated mud gas readings, indicating potential gas pays, with no water-bearing reservoirs identified.</li>
<li>While the approximate 200 m gross thickness for the reservoirs is in line with pre-drill expectations, the absence of water in the 70 m gross interval is particularly encouraging and could suggest larger than expected resources (12 bcf pre drill).</li>
<li>The well is now expected to be tested in 3Q24.</li>
</ul>


The OBA-1 well onshore Morocco has encountered an approximate 70 m gross interval containing elevated resistivities coincident with elevated mud gas readings, indicating potential gas pays, with no water-bearing reservoirs identified.
While the approximate 200 m gross thickness for the reservoirs is in line with pre-drill expectations, the absence of water in the 70 m gross interval is particularly encouraging and could suggest larger than expected resources (12 bcf pre drill).
The well is now expected to be tested in 3Q24.


Chariot Limited (AIM: CHAR): Drilling success onshore Morocco

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): Commencing Drilling Operations at High Impact Well in Morocco

The well has three objectives. An initial pilot hole will be drilled to evaluate the potential of the Anchois Footwall prospect, located in an...

Auctus Advisors

Chariot Limited (AIM: CHAR): Potentially entering Namibia offshore and boosting balance sheet

Chariot has raised US$6.4 mm of new equity (US$7 mm before expenses) priced at 6.5 p per share. Management and insiders have contributed ~US$1 mm...

Auctus Advisors

Chariot Limited (AIM: CHAR): Key step towards developing future gas to industry business onshore Morocco

Chariot has signed Heads of Terms with Vivo Energy for the future offtake from the Loukos onshore licence where natural gas has been encountered at...

Auctus Advisors

Chariot Limited (AIM: CHAR): High impact well offshore Morocco on track to spud in August

The FY23 financials were in line with our forecasts. The high impact Anchois East well continues to be expected to spud in August.

Auctus Advisors

Chariot Limited (AIM: CHAR): Drilling success onshore Morocco

The OBA-1 well onshore Morocco has encountered an approximate 70 m gross interval containing elevated resistivities coincident with elevated mud...

Auctus Advisors

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