Member Info for Surfit

25% would be very VERY good for a sanctioned build, we of course would not get a free carry so financing terms would, along with gas contract rate, build costs, "known" production flow rates, lead time and build time would all play a part in understanding if the O&G side of the 18yr old business can actually sustain its self with the only known asset these characters have nearly, maybe, still not there, need more drilling, let's put it 10m from A1 and hope, exploration failures, never produced a drop or bubble in 18yrs "oil men" can make of Chariot.

If they can get this up to my break even, I will run for the hills, 18yrs, 18yrs 18yrs of NEVER making a an income let ALONE A PROFIT tells you the everything you need to know.

Do you think any one of them is going to grow a new brain?

All IMHO of course.

Rant over, happy new year...let book mark this post for 2027 😁

Kindest Sft

Bought more share yet Harry?

Rgds Sft

Hey Gardie, That would be an interesting challenge, particularly as it would cross: ".......the boundary between the Eurasian and African tectonic plates along the Azores-Gibraltar fault line......" 🤔 😬

Artical from 14th November 2025: Worth a read.

Note: I am wondering about the Loukos technical (water) issues comment 🤔. Did Chariot say anything about that?

What is becoming apparent, as supported in the artical, is that there needs to be a bigger reservoir find in Morroco to pull companies or financing to expand exploration. I just hope Morroco does actually have any big plays AND if it does its in Rissana! The big finds, so far, seem to be every where else and so far Chariot has not been to good at finding anything I.e. Anchois 1 was originally a Repsol find A2 being an appraisal well and so was A3.

https://medias24.com/2025/11/13/hydrocarbon-exploration-awaiting-a-new-boost-after-the-onhym-reform/#:~:text=ONHYM's%20creation%20in%202005%2C%20through,exploration%20permits%20by%20September%202008.&text=From%202005%20to%202025%2C%20ONHYM,vous%20aident%20%C3%A0%20le%20concr%C3%A9tiser!

Of the 2x ONshore wells drilled one ( RZK-1) had the I asume artical reported reported "water" issues and P&A'd and the other (OBA-1) being reported in the May 2024 RNS:

"....within which an approximate 70m gross interval of primary interest has been identified containing elevated resistivities coincident with elevated mud gas readings, indicating potential gas pays, with NO water-bearing reservoirs identified"

Obviously no news on Loukos's, no news on Rissina, since the reported African Energy Conference pitch as previously reported by a one of our bb posters.

GLA

Rgds Sft

Well after all the hard work we see the 3 Amigos have rewarded themselves with small share bonuses, as aligned with share holders approve 😂

What a kick in the teeth to all of us.

Anyway, irrespective:

I hope you see Christmas with health, are surrounded by those you love and care for. That the turkey is delicious, the pudding savoury, that this year there are no socks, and the girlfriend and Mrs never meet.

Merry Christmas and Happy New Year 😁 🥳

Rgds Sft

🙄

Hey GP, good to know, although when he went on his quest with Samwise, he kindley sent Merry and Pippin to look after us 🥳

Sincery Sft 🙂

Bought for a million, sold for half and cost us at least $100k a year = Chariot Energy: a working proof of concept 😂

Hey LongiT,

What news in your opinion will facilitate a doubling of the share price? or do you see a general positive sentiments of so may buyers pushing the share to that level?

Rgds Sft

Yes Oiltdr pointed that little nugget up too.

Let's see hey. The Morrocan gas play remains, as others have stated the main chance of a 8-10p re-rate

Intresting points also raised by Fernan on company structuring. Before Project Nour (2030) can get to submission FEED there is testing ground in Morocco and the proof of Chariot Green Hydrogen, Mohammed VI Polytechnic University (UM6P), and Oort Energy. They a slowly moving forward.

Will be intresting to see what comes of it all.

Still cash runway remains relevant as the only potential income is in 2027 once the two renewable sites get "commissioned"

None the less, we'll done on the two ex AEMP guys and AP's contacts.

Note: Has AP washed his hand of the O&G side, his starter company. Chariot still have very significant wages and operations cost.

I think those two RNS were our Christmas presents, which although not powered by gas, it does look like they have supplied the batteries.

GLA, Kind rgds Sft

GLA,

Good find Jt

Rgds Sft

Also if as its been reported that A1 is no good for production purposes, would that not have to be P&A also? Which would also cost time and cash.

Rgds Sft

Hey Oiltdr, can see your valid point on perspective partners needing clarification regarding security of financing pre/post demerger.

So, for clarity, are we saying the transfer regarding licensing,/ operatorship would be all contained within subsidiary and faily straight forward BUT what cash runway is left is crucial as the new company and the pre existing subsidiary ( transfered) if left with out sufficient financing, could fail. In addtion I would suppose all the insurances, proof of new companies personnel (roles and responsibilities) experience, SMS systems etc etc all have to be checked and re-evaluated. I can appreciate there is a LOT to cross check.

1 Question: In your opinion if the same O&G personnel remain as is, is the primary point of concern the, post demerger, the new companies remaing cash runway?

2 Question: Is there a concern as to who will be the new companies CEO and CFO?

3 Question: Have you heard if there has been any firm financing for the Anchois project.

4. I have struggled to see how they are going to structure the requirement to redrill A1, as it has been reported that the casing/ production completions may not be fit for purpose AND as I see it they need to flow test the reservoir for final FEED purposes ( I may and have been told I am wrong on onbthe flow test requirements?). As I see it the above two (coupled with A3 being P&A'd) introduce risk and therefore makes the structuring of a FID on Anchois very tricky?

Any thought would be appreciated.

Best rgds Sft

Good demonstration of knowledge Fernan, thanks for the information.

Rgds Sft

Hey Marland, the thing is AP has got his investments and time speard over a lot of investments.

Not sure if this is accurate as if you search his "net worth" directly its £26 million but this Market Screener has it as a bit more and also indicates his other "ventures"

https://uk.marketscreener.com/insider/ADONIS-POUROULIS-A08GX3/

Remember his time is speed out quite a bit but all the most recent disclosed news is from Chariot and Rainbow Rare Earth.

Cut his teeth with Petra Mining, until he was voted off the board by the bond holders ( if I remember correctly) but he has, I imagine a lot of experience and connections withing Africa's mining industry, hence the path the renewables has taken combined with the purchase of AEMP in 2021 and bringing in the two guys: BENOIT GARRIVIER Transitional Power CEO and LAURENT COCHE Green Hydrogen CEO who both founded AEMP.

Will be intresting to see which way he jumps after the demerger as his salary presently is $500k pa plus share and pension benefits?

It would be good if he can get Bezos to spill some cash.

Remember we also have the Kazakhstan billionaire with 7.8% invested, he averaged down ( small % increase in his holdings) back in April 24 ( see RNS for full detail) I think, but was nit it appears invited to invest more on subsequent private placings...possibly to protect AP's majority share holding or may not have wanted to? 🤷‍♂️...at a guess only

All the best Sft

Hey KnC, not experienced a demerger before but ais the intention to leave the Gas contract with Chariot Energy and form another NEW company for the renewables? If so the signed Morrocan contracts would remain valid (guessing) BUT if its the other way round OR they are raising two seperate new companies then the contracts have to be resigned with lots of paperwork and approvals required???

🤔🤷‍♂️

Rgds Sft

Hey Marland, a decent review and mature post.

After 17/18years, which is quite incredible if you consider Energean started at the same time, AP who started the company was forced to step in to invest for the Anchois drilling campaign and also instigated the renewables direction ( imo).

They have missed a lot of opportunities over those years by focusing purely on exploration.

Note: Andrew Austin ( UK director) has raised ( RockRose), bought / sold and then raised another company in less of a time period. His current company ( Kistos) has been decimated by the UK windfall tax but purely based on his reputation was able to raise millions and invested heavily himself.

So there are companies out there that are well run (diversifying out of the UK now) and the BoDs are directly responsible for how well a company does.

The underlying issue with Chariot were:

1. Not securing an income base, depending on exploration teams and the associated evaluation of data.

2. Using in part, share placement cash for Anchois to develope the renewables pillars at (imo) the cost of developing Morroco. But it seems in some part to have worked as the market is not valuing the Morrocan/ O&G side at all....kind of supply's a clue to how much they trust the O&G personnel and maybe the asset.

It remains to be seen if they can secure the right financing for Anchois drilling, flow test and then if its any good the redesigned Anchois. Secure financing for Rissana and Loukos. If they do (as Sound have) then it's a different story...retaining 20%? That's why the NPV on the re-evaluated Anchois would be essential to know for the market and investors / financing.

Once they can make the renewable company self sufficient there remains intresting opportunities and it importantly ( as I have written to the BoDs) changes the markets perception of Chariot as a company x2.

This also works IF the get Anchois sanctioned. We must just consider how long it will take to get Anchois developed and to production...i.e. cash flow, cash flow cash flow.

It's going to be interesting on when and how they split the company and if the Anchois financing has not been secured, how much cash (time) are they leaving in that companies bank account....all very interesting.

I still belive asking pertinent questions of the BoDs shows share holders are watching and challenging them to forfil their duties correctly. It's AIM but it's also a UK company.

GLA

Kindest rgds Sft

Hey Fernan, you make very valid points.

I guess I am use to encountering problems and looking at ways they can be mitigated or resolved, but its not my position to do so.

Its down to CHARs BODs, but as a share holder I am quite with in my rights to question and challenge them. If you do not think its worth your time, I can respect that. Others may not agree, or actually do agree.

I can suppose that AP contains similar frustrations, hence stepping into the CEO position after many years of failed ventures, and implementing a different stratagey.

Questions can be used to open different doors of thought, opportunity for improvement and re-evaluation.

Several of my communications over the years have been directed with regards to their continued use of share placements, continued failure in securing sustainable income finance and thus consideration should be made as to investors and the markets thoughts on the credidibility on the O&G and clarity of investment within the other pillars. The company had historically and it looks (maybe) currently failed in their endeavours in O&G exploration.

How can CHAR and any investors expect growth or company security when exploration is the money pit? Is it the poor quality of the team or the data analysis system, after no success in 17yrs that may be worth consideration.

As I say I respect what your saying but also respectfully disagree.

Best and kind rgds Sft

Finally here is the latest information (as a reminder) on what Chariot were telling us in July 2025 on their webcast.

https://www.engageinvestor.com/event/78ecdfeec125

GLA

Rgds Sft

I would ask posters on here to send in this or similar ( i.e. improved) questions to Chariot energy directly and or via the investor relations.

Investor / Media Relations: chariot@celicourt.uk

AND

UK Representative Office (General Inquiries): KellyN@chariotenergygroup.com

This email is associated with their UK office located in London

The Chariot Energy BODs need pushing IMHO, and realise investors are demanding answers and accountability.

All IMHO

Rgds Sft