Member Info for Jimmy23

See chariot presentation September 2017, page 11.
Look at the small map of prospects in the top left corner. Note the huge stratigraphic prospect below structural prospect U.
Chariot report that there is a seismic oil indicator of seismic dimming above a prospect spill point. Now look at the seismic cross section and note the huge seismic dimming below prospect U.
It would certainly be interesting to see what a spectral decomposition analysis of the stratigraphic traps would show up.
This is becoming interesting, but the really high potential is anchois gas.
Jimmy

The Venus exploration well spud on 1st December drilling in approximately 3000 meters of water . The geo expro magazine article described the prospect as multi billion stratigraphic trap . The key breakthrough is that the source rock previously established in the shallower water is not adversely impacted by volcanic intrusions in the deep water , and hence are mature for oil in the deep water.
It has been extraordinary for shell to commence drilling an appraisal well on its graff oil discovery in Namibia only a few weeks from making the discovery. That only happens with huge discoveries.
The upstream online article headlines on the Venus well can be read at.
https://www.upstreamonline.com/exclusive/life-on-venus-totalenergies-namibia-wildcat-hits-reservoir-amid-optimism/2-1-1169372

The chariot acreage in Namibia is a continuation of the orange basin where these discoveries have been made . Chariot have a huge 3D seismic survey covering the area with strong well control and a range of prospects that are charged from the deep water source rock. Chariots acreage contains the W and V prospects which are four way dip anticlines with Avo anomalies and seismic direct hydrocarbon indicators. Importantly they are in the west of the acreage in approx 2700 meters of water.
From memory they were prospect sizes of 485 and approx 300 million bbls, but that’s only the four way dip anticline structure.
Chariot have strong links in Namibia and one of the largest seismic data sets in Namibia that will make them natural focus for big oil to farm in.
Obviously exciting, but chariot should still primarily focus on bringing the anchois discovery into production. Namibia is a great sideshow though.
Jimmy

Wood Mackenzie report recent shell discovery at 750 million bbls.
Appraisal well starting this week.

https://www.upstreamonline.com/exclusive/shell-within-hours-of-spudding-namibia-appraisal-well-on-huge-graff-oil-discovery/2-1-1168213

Jimmy

There are two other anchois field development finance options,
1. Farmout part of the licence, get back costs and provide the non debt finance for the field development., or
2. Chariot stated 361.bcf would generate $1.5 billion of free cashflow for its 75%, following the anchois 2 well and the additional 5 reservoirs, i estimate reserves at circa 750 bcf, so approx $3 billion of free cashflow, pro rata, and they need to finance 75% of $300 million capex. Why equity finance from shareholders when some sub ordinated debt is the obvious answer, add in say $20 million to drill anchois north and add an estimated 600bcf with a. very high chance of success.

Whichever way you look at the situation, it certainly does not justify the current share price, incredible value .
Jimmy

The chariot July presentation on renewable energy give an example of their targeted solar power economics.
A 50mw facility to cost $50million, financed by 70% project debt and 30 % equity,
The return on equity is targeted as greater than 15% .
So for a 15% position in the jv it would generate $300 k per year.
These type of projects will have a life of around 35years, so it’s effectively an annuity.
Financing for the equity share can be done in two non chariot equity dilutive way,
1, subordinated debt , lots of providers for this in USA.
2. After the first few projects are up and running, sell the interest for a significant gain and use the proceeds to finance the bigger follow on projects.

Jimmy

The chariot presentations advise shareholders that they expect a 15% return on investment.
I will revert later with the calculations
Jimmy

Jimzi,
Chariot announced an mou for solar power at a mine in Africa,
Do you have a value of the npv per MW.
Thanks
Jimmy

Buggoi.
It’s most unusual to have multi billion barrel oil prospects or indeed multi tcf prospects.
Usually only happens in relatively unexplored areas

Chariot have multi tcf potential which are derisked in its lixus licence but it’s lots of smaller prospects in a geological setting, often known as a string of pearls prospects, as often when one prospect works the nearby prospects also work. The potential of chariots lixus licence I believe is approx 4tcf.
The market has not awoken to the results of the recent gas discovery at anchois and its amazing potential.
Jimmy

Jinx
Of course gas is a fossil fuel. However, when it replaces dirty coal power generation it reduces Co 2 emissions.
The eu commission has classified natural gas, for that reason, as green. I know it still produces Co 2 but it’s going to be used for power generation in Europe for decades as a base load facility.
Jimmy

Hi Dan o.
Chariot have rights in two areas offshore Namibia,
The first is in the south where it has rights to 10% to help the ministry licence get a licence issued to third parties. The back in right is after a well is drilled. Two prospects in this licence total 10tcf of gas.
The second area is in the north of the orange/ luderitz basin offshore Namibia, while a long distance away , the shell oil discovery has validated a deep water source rock which is regional and hence upgrades chariots licence. This result will help to farm it out.
Jimmy

Shell announce major oil discovery in Namibia.
Good news for chariots acreage.
https://energycapitalpower.com/shell-discovers-oil-offshore-namibia/

Jimmy

https://africaoilcorp.com/site/assets/files/1718/africa_oil_q321_presentation_-_final.pdf

We should be getting some news to day of shell exploration discovery offshore Namibia.
Also drilling at the moment is the Venus well offshore Namibia also. It started on the 1st dec 21 and should have reached Td by now. It’s targeting a deep water fan similar to marlin field in Brazil.
Africa oil has an indirect interest in the field and page 10 of their presentation describes the prospect at 600sq km in size by reference to the Marlin field in Brazil would make it a 6.8 Billion barrel field.
These are truly giant prospects that if proven could upgrade our Namibian acreage a lot. ,
We could be getting a nice surprise yet.
Jimmy

Great to see some other views on the production cashflow from anchois.
Now apply a p/e multiple of say 10 and you get the value of this proven asset, now add in the potential of the derisked prospects.
Jimmy

Just to clarify, chariots acreage is in the luderitz basin, a long distance away, but the deep water source now confirmed by shell is relevant to chariots deep water prospects.

The shell acreage is in deep water in the Orange Basin which forms part of a long basin continuing into the luderitz basin where the geology is considered similar . A discovery by shell is considered to upgrade chariots deep water prospects V and W in that area.
At the last corporate presentation chariot reported it had a 10% back in rights to a block in the orange basin to the north east of the shell and total well locations.
Jimmy

Recent press article regarding Namibia at.
https://finance.yahoo.com/news/shell-betting-big-namibia-oil-003000678.html
Jimmy

Shell Namibia are to hold a press conference to morrow to discuss the results of their exploration well in Namibia. This is an unusual event usually reserved for major discoveries.
Reueters have previously reported that a oil discovery has been made.
Jimmy

Some detailed description of the shell and total exploration wells in Namibia
At
https://www.geoexpro.com/articles/2021/11/south-africa-poised-for-exploration-greatness

This is great news for chariots prospect V and W in Namibia as it proves up the regional source rock to the west of the geological volcanic high ridges.
Jimmy