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Chariot to buy renewable water production firm for USD1.0 million
(Alliance News) - Chariot Ltd on Monday said it will acquire independent water producer ENEO Water PTE Ltd for USD1.0 million.
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Don't have an account? Click here to register.Chariot looking forward after disappointing year
Tue, 11th Dec 2018 14:02
(Sharecast News) - Atlantic margins-focussed oil and gas exploration company Chariot Oil & Gas updated the market on its operations on Tuesday, prior to its 31 December year-end, reporting that over the past 12 months it had continued to invest in its portfolio to capitalise on the current low cost environment.The AIM-traded firm said it had participated in two deepwater exploration wells - one in Morocco in a fully carried well operated by Eni, and the other in Namibia operated by Chariot.Disappointingly, both wells were unsuccessful, but it confirmed the financial impact was "significantly reduced" through partnering and, in Namibia, delivering what was likely to be one of the lowest-cost deepwater drilling operations carried out anywhere this year.Chariot said it retained a portfolio of "highly prospective" assets in Morocco and Brazil.The Chariot in-house subsurface team was continuing to develop an inventory of drill-ready prospects with material follow-on potential, and had initiated partnering processes in Morocco and Brazil.With rig rates remaining at historic lows, the board said it was continuing to analyse how the company could again benefit from the low-cost environment.Utilising the experience gained in Namibia and drawing on its in-house knowledge, Chariot said it had conducted a "thorough analysis" of drilling cost estimates for its key prospects, feeding that data into the current partnering processes.Chariot launched drilling preparations in its operated Morocco assets through the approval of the drilling environmental impact assessment, long lead items identification and other operational arrangements, the board explained.It said the company's management believed that the preparatory work would enable Chariot to avoid unnecessary delays associated with its plans to drill in the near term, and to continue to capitalise on the current low-cost environment for drilling.Chariot said it was continuing to apply the "strict capital discipline" demonstrated during the drilling of Prospect S in Namibia, and its "significantly reduced" annual cash overhead.As a result, the company claimed to retain a strong cash position, with unaudited year-end cash estimated to be $19m.It remained debt free, with no licence commitments across its entire portfolio."Clearly it has been very disappointing not to have delivered a transformational discovery from the two deepwater wells that we have participated in this year," said chief executive officer Larry Bottomley."However, one of these wells was delivered at zero-cost, and the other was drilled significantly under-budget for what is likely to become a new benchmark for the sector."In Namibia, Chariot also demonstrated it is capable of safely and efficiently operating a deepwater well, delivering the operation within a short timeframe to capture the optimum point of the cost cycle."Bottomley said that the Rabat Deep 1 well had demonstrated a new petroleum system in the offshore sector of Morocco - one which could be significantly more robust than that previously extensively explored by the industry, which materially de-risked the Mohammedia and Kenitra licences."Looking ahead, we are focused on delivering an exploration well in Morocco utilising our established in-house drilling team to deliver this programme safely, efficiently and cost-effectively."With all licence commitments now met across the entire portfolio, the company is fully-funded to progress our assets in Morocco and Brazil whilst remaining vigilant to other value accretive opportunities."
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12 Dec 2022 14:32
Chariot agrees key principles for Anchois gas sales deal
(Sharecast News) - Africa-focussed energy company Chariot announced on Monday that, along with Morocco's Office National des Hydrocarbures et des Mines (ONHYM), it has agreed key principles for long-term gas sales from the Anchois Gas Project with the Office National de l'Electricité et de l'Eau Potable (ONEE).
Read more7 Dec 2022 21:25
TRADING UPDATES: Ryanair extends CEO contract; Sovereign eye demerger
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Read more22 Nov 2022 14:40
IN BRIEF: Chariot takes 25% stake in new South Africa power trader
Chariot Ltd - London-based, African-focused company working on energy transition and green hydrogen projects - Takes 25% interest in Etana Energy (Pty) Ltd, a new South African company that has been granted an electricity trading licence by the National Energy Regulator of South Africa. The licence allows Etana to buy and sell electricity on the national transmission grid and within some municipal areas. The remainder of Etan is owned by the Neura Group with 49%, H1 Holdings with 21%, and Meadows Energy with 5%, all with experience of the South African electricity market, Chariot says.
Read more21 Nov 2022 21:39
TRADING UPDATES: VSA Capital backs outlook; Zephyr starts drilling
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Read more4 Nov 2022 13:11
Chariot enters Morocco hydrogen pilot collaboration
(Sharecast News) - Africa-focussed energy group Chariot announced on Friday that it had agreed to collaborate with Mohammed VI Polytechnic University (UM6P) and Oort Energy on green hydrogen pilot projects in Morocco.
Read more4 Nov 2022 11:46
Chariot expands to Morocco with green hydrogen partnership deal
(Alliance News) - Chariot Ltd on Friday said it was looking forward to expanding its work beyond Mauritania, as it entered a partnership to collaborate on green hydrogen pilot projects in Morocco.
Read more14 Sep 2022 15:02
TRADING UPDATES: Epwin lifts interim payout; Anpario profit falls
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Read more7 Sep 2022 11:37
IN BRIEF: Chariot inks tie-in deal to secure Moroccan pipeline access
Chariot Ltd - Devon, England-based transitional energy company focused on Africa - Signs a pipeline tie-in agreement with the Office National des Hydrocarbures et des Mines securing access to Maghreb Europe gas pipeline in Morocco. The pipeline, which is owned and operated by ONHYM, runs from eastern Morocco through to Tangiers and across to Spain. Says the agreement will enable the gas produced from the Anchois gas project, offshore Morocco, to be transported via the GME to different potential offtakers.
Read more6 Sep 2022 17:14
Chariot working with Total Eren at Mauritania green hydrogen project
(Alliance News) - Chariot Ltd and Total Eren on Tuesday announced a feasibility study to co-develop the Nour project, a large scale green hydrogen project in Mauritania.
Read more1 Sep 2022 15:56
UK shareholder meetings calendar - next 7 days
| Friday 2 September | |
| Triple Point Income VCT PLC | AGM |
| Monday 5 September | |
| Highway Capital PLC | AGM |
| Hill & Smith Holdings PLC | AGM |
| Hydrogen Utopia International PLC | AGM |
| LXi REIT PLC | AGM |
| Monks Investment Trust PLC | AGM |
| Totally PLC | AGM |
| Tuesday 6 September | |
| Ashtead Group PLC | AGM |
| Berkeley Group Holdings PLC | AGM |
| Brickability Group PLC | AGM |
| Castelnau Group Ltd | AGM |
| DS Smith PLC | AGM |
| Lamprell PLC | AGM |
| Renold PLC | AGM |
| Wednesday 7 September | |
| BlueRock Diamonds PLC | AGM |
| CVC Income & Growth Ltd | EGM |
| Halfords Group PLC | AGM |
| Jupiter Green Investment Trust PLC | AGM |
| Mulberry Group PLC | AGM |
| Okyo Pharma Ltd | AGM |
| Polar Capital Holdings PLC | AGM |
| Redcentric PLC | AGM |
| Seed Innovations Ltd | AGM |
| Trifast PLC | AGM |
| Yellow Cake PLC | AGM |
| Thursday 8 September | |
| Atlantis Japan Growth Fund Ltd | AGM |
| Aston Martin Lagonda Global Holdings PLC | GM proposed equity capital raise |
| Caretech Holdings PLC | GM takeover by Sheikh Holdings Group |
| Chariot Ltd | AGM |
| Chelverton UK Dividend Trust PLC | AGM |
| Currys PLC | AGM |
| Euromoney Institutional Investor PLC | GM re takeover offer by Astorg and Epiris |
| Gabelli Merger Plus+ Trust PLC | GM tender offers |
| Invesco Asia Trust PLC | AGM |
| LendInvest PLC | AGM |
| Lindsell Train Investment Trust PLC | AGM |
| Montanaro European Smaller Cos Trust PLC | AGM |
| ScotGems PLC | GM re voluntary liquidation |
| Semper Fortis Esports PLC | AGM |
| Severfield PLC | AGM |
| Speedy Hire PLC | AGM |
| SysGroup PLC | AGM |
| WH Ireland Group PLC | AGM |
| XPS Pensions Group PLC | AGM |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |
20 Jul 2022 20:50
TRADING UPDATES: Angle hails study find; Eqtec buys plant in France
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Read more20 Jul 2022 17:17
Chariot reports 'material upgrades' to Morocco portfolio
(Sharecast News) - Chariot announced the results of independent assessments on its gas resources offshore Morocco on Wednesday, incorporating the results of the recent successfully-drilled Anchois-2 appraisal and exploration well.
Read more28 Jun 2022 14:41
Air Products, Gunvor plan to build hydrogen terminal in Rotterdam
AMSTERDAM, June 28 (Reuters) - Air Products and Gunvor have signed a joint development agreement to build a green hydrogen import terminal in Rotterdam port by 2026, they said on Tuesday.
Read more22 Jun 2022 14:16
IN BRIEF: Chariot narrows loss in 2021 as operating expenses fall
Chariot Ltd - Devon, England-based transitional energy firm focused on Africa - Narrows annual loss in 2021 on falling operating expenses. Annual pretax loss reduces to USD7.0 million from USD70.6 million in 2020. Operating expenses fall to USD6.4 million from USD71.1 million. Regarding its future, firm is focused on its strategic partnering in Morocco to "accelerate growth from a portfolio of high value, low risk upsides". "Green hydrogen is predicted to play a vital role in the global energy transition," it says.
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