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Wiggly it's a very valid point, AP has pumped a lot of cash in.

It's still my opinion that his personal investment as logged as a director is not counting the Westward Investments that he is a CEO of. I may be wrong but from the Chariot website it displays Westwards AND THEN the directors as two different entities.

I know the other directors % is very small.

He would have to declare his company position in Westwards for AIM clarity?????

Hargreaves Lansdown Asset Management 11.75

Interactive Investor 11.07

Westward Investments (Adonis Pouroulis – CEO) 9.10

Mr Askar Alshinbayev 7.86

Halifax Share Dealing 5.35

A J Bell Securities 3.38

Mr Robert Kampf 3.22

Barclays Wealth 3.15

Total Board and Senior Management 9.42

https://chariotenergygroup.com/investor-centre/aim-rule-26/

Note Scroll down to bottom of the above page link.

Again may be wrong on AP total control and influence but that's how I read it?

Rgds Sft

Thank you Surety.

It must be difficult to assess as they would not know how much % Chariot will have to give up, what would the build cost split and repayment costs, all be.

They have, hopefully, considered the worst of potential contract outcomes.

As Oiltdr is indicating it will be interesting to see what Chariot and a potential partner hash out as a developement program, if the market likes it, i.e. this would hopefully fully disclose the price / booe AND FULLY DISCLOSE TERMS & CONDITIONS

IMHO we might get a lift to 4p-6p IF T&C's are GOOD, but then we and the market will have to go through the RISK 😬 AGAIN on drilling a new well for production (A4) AND then a flow test to prove up.

Will they go out with two trees, probably not. So could they have them on standby to get shipped out or are we sending the rig back in after doing 1 drill and 1 flow test? Then 6month to a year on

Adjusting FEED and then FID to sanction.

Minumum 1.5 further year for lead time on securing rigs, vessel (pipelay and construction vessels), project workscopes and equipment then another minimum 1.5yrs for all onshore and offshore development.

So need to look at how Chariots Oil & Gas company will keep solvent, will Loukos (another unproven risk) be developed to bring in cash: No news on an partner on this from Chariot.

Nambia is another outlay

So where is the cash coming from 🤔, yes you've guessed it another raise on the possible 5/6p

Anyone see it going differently?

More positive considerations welcome 😁

Rgds Sft

I agree I.e. thanks Oiltdr.

He "maybe" on the inside trak.

Not@jm23 but a lot of people trusted jm, the mistake for me is trusting people that talk technical (so no one understands) but no idea on delivery.

If the balloon (DW+ team) can get a contract (they failed before) let's see what it is?

Back post A2, CPR and FEED..We were at 250mill8on shares.

I will admit if it was not for AP, we would be fukd.

He booted out the old, but should have not trusted DW...but had to leave someone in place.

AP knows he has squandered 18yrs on the "team"

As soon as he came in he removed and diversified.

BUT

Like many, if the boss was no good , they recruited the equivalent.

Only after AP and the new CFOand (not CFO'S fault) saturated the shares have they adopted "subsidiary" funding.

Do we really think a successful Anchois will make 20p?

Rgds sft

Hope your right Oiltdr 🙂

All the best Sft

Hope your right Oiltdr 🙂

All the best Sft

AA and Kistos, done well to get into the Norwegian area it the only European show in town.

But there is probably not going to any changes to the WFT (UK or NL) so any further acquisitions have to be in Norway or further afield??

The days of going for Green credential seem to have, for obvious reasons, fallen away but I would not be surprised if Kistos start looking in new energy directions, example MAST in the UK?

Thy do not have the assets or deep enough pockets for carbon capture.

Kistos also have to be careful on the decommissioning liabilities, so a full sale may be the best approach and then regroup?????

Rgds Sft

Hey Wiggly, Anchois A2 was a excellent find and no doubt led on to field and data confidence. Finding gas in A3 was deem by AP as not being essential, those were very important words (Reference June/july 2024 webcast on Chariots site).

Now NOT being a O&G man those word were given to him by only DW and could ALSO been given by Energean or he was lieing to every body ( which would be rather strange).

At the same time Energean would have possibley known but not announced that problems were going on with the sale of very Important assets.

So a few important points.

BUT we know that Chariot are at,what can best be described as, being economical with "information" and the painting a complete picture of situations.

Until they prove themselves I.e. generate income, stop ommiting important facts on operations (flow testing, A1 casing status, status on pilot testing, losses on Djibouti, financing and discolure on what money goes to which department. The market will not trust them.

Re Anchois I maybe wrong, but have firmly belive that not flow testing, not revealing the status of A1 for production purposes, not ensuring Energean farm in developed Anchois are very revealing about management and have been a hindrance to development and finding a partner that has to still find out more information about Anchois ( via a drill rig) before it can sign to develop.

I like that you have confidence, as you have stated you have remained invested in Chariot for many years....after such time and losses, unless you exited and reentered correctly, I have will remain to have significant doubts about the abilities of DW in particular and the whole O&G team.

None the less, it can all spin to the positive on a good deal.

Best rgds Sft

Recent news output detailing Repsol joining Shell for exploration and appraisal drilling in Egyptian waters.

It demonstrates companie are still prepared to spend and form joint ventures.

https://www.offshore-energy.biz/qatarenergy-widens-its-oil-gas-exploration-acreage-by-joining-shells-block-offshore-egypt

Egypt on and offshore and Algeria onshore have proven that large amounts of hydrocarbons are commercially present.

Chariot have, on the back of Repsols initial exploration, demonstrated that gas/hydrocarbons can exits in offshore Morroco, but to what quantities is yet to be determined?

If we look at the North Sea the available reservoirs have been fully proven and its extents are/were vast allowing the UK, Norway, Denmark and the Netherlands access to those over many year. Norway is still finding a d developing fields.

The big question we have to ask is does Morocco actual and really have the same or similar rock strata of Egypt and Algeria that could lead to the development of hydrocarbons?

We know Repsol had initial explored and tried in Morocco, leaving Anchois as being uncommercial?

Reservoir and Seismic evaluation has improved significantly since the 70's and 80's, none the less its still difficult.

So:

1. How much of Morocco Offshore are has been deemed worthy of potential hydrocarbon baring.

2. How much of that are has actually been subjected to seismic survey and evaluated.

3. The fact that Chariot are stating after drilling Anchois-2 that there are commercial opportunities is the data indicating it too marginal when better opportunities remain in other countries locations, thus encouraging Repsols Egyptian JV

4. Morroco is offering what looks like very attractive incentives to develope there but it still appear that companies see the risk VS reward still too high?????

The fact that Anchois-2 is deemed (by Chariot) as commercially viable combined with Morocco tax incentives, it would be very strange for a O&G company to not step in....the only question remains did Energean pull out due to doubts over the quality of the field ( putting aside the farm- in deal that did NOT ENSURE the building of Anchois I.e. Energean protected themselves!) OR HOW MUCH did Energeans issues with planned selling of their assets affect their ability to cover Debt AND explore, aporaise and develop offshore Morroco).

Note: That Enetgean did reneged on the signed farm in agreement to conduct seismic is also telling but to which of the two reasons mentioned I do not know.

DYOR

GLA

Rgds Sft

If its true????????

A. Has Harry got a glass to the wall next door 😂

B. What would a quick flight out to SA require of Snr management? Teams calls negate a meeting chat or does SA require wet signatures.

Monday funday? 🤞

GLA

Rgds Sft

It's intresting looking at the share trades with Chariot.

With a spead on buy/sell its looking to be around 5 to 10%..mostly 10%.

Over, for example, the last 5 days it peaked and troughed over 10%

So my thoughts are that there "may" have been one buyer that came in, a little while after the raise, attempting to "possibly" add at the post raise drop.

But it looks to have stalled, as before on raises and now could it be the MM?????, just trying to stimulate by buying / selling over a week (a week is the pay up time) as they can set the spread themselves.

We are now waiting on positive 🤞🤞🙏 news, as Oiltdr has intimated. Hopefully if/when goodness drops it is a good deal/ farm in and IF IT IS the market willvrerate the company accordingly. 1.5billion shares soaks a lot of that % rerate through.

Different story if we had the, what was still massive, back in 2021/22 250million shares!

Just my opinions, DYOR.

GLA

Rgds Sft

Intrestingly Azule Emergy is made up of:

"Azule Energy is an incorporated joint venture (IJV) between BP p.l.c. and Eni SpA. bp and Eni each holding a 50% share"

So they (along with two other partner investors) are speading risk just on the Drilling with Rhino Resources.

At 10% opt back in for Chariot, and having blown the money on dusters, until Chariot prove any of there drilling EVER in 18yrs they need Morroco to be a success for their credibility: "You can fool some of the people some of the time but not all the people all of the time" 18yrs is a long time to keep taking investors cash and trust. Hence them having to raise of the back of directors ( mostly AP) but continued RIDICULOUS share dilution...+1.5billion and counting!

Rgds Sft

Hey Harry, I see your point. Both Shell and TotalEnergies have found quantities of hydrocarbons BUT neither have sanctioned nor do either want to develop alone. Deep -ultra deepwater risk / costs on getting such to production is VERY expensive.

These locations as luke the Falklands are also completely new area to develop an supporting infrastructure also.

Chariot need to have a commercial success anywhere first.

If they are in SA, it most likely to do with ETANA or renewables as a guess? 🤷‍♂️

Rgds Sft

I hear what your saying Wiggly, it's just that we are missing the CRUCIAL word " successfully" ...........to date.

Still we all have our fingers and toes crossed for some/any good news.

Rgds Sft

It's also interesting who makes up the % ownership of Rhino Resources for the nambia venture????? We should ask ourselves, HOW did the CEO do this AND WHEN I.e. Critically BEFORE drilling or after? Quite important if you take Chariots situation into account either way Rhino CEO has some reach and friends to pu that off??.? 🤔

"Rhino Resources (‘Rhino’ or ‘the Company’) is pleased to announce the completion of its Farm-Out Agreement with Azule for Block 2914A (PEL85), Offshore Namibia, following confirmation that all customary third-party approvals from Namibian authorities and joint venture parties have been granted.

Post completion of the transaction the contractor group now consists of Rhino Resources Namibia, Ltd. (Operator, 42,5%) Azule Energy Exploration Angola (KB) Ltd. (42,5%), NAMCOR Exploration and Production (Proprietary) Limited (10%) and Korres Investments (Pty) Ltd (5%)......."

https://www.rhinorsc.com/rhino-resources-completes-farmout-transaction-with-azule-energy/

Food for thought?

Rgds Sft

It seems Rhino Resources know how to find the stuff?

I.e. actually from new and not using other people's old data. May be we should ask them if we can borrow there data analysis software 😂 and it seems they are actually making a few drills. That costs in deepwater.

"African energy exploration player Rhino Resources has made a gas condensate discovery off the coast of Namibia, thanks to drilling activities undertaken with a semi-submersible rig, owned by Northern Ocean (NOL) and managed by Odfjell Drilling.

Following the beginning of drilling operations at the end of July 2025 at the Volans-1X exploration well in production exploration license (PEL) 85, Rhino Resources reached a total of 4,497.5 meters true vertical depth subsea (TVDSS) on August 30, 2025, using the Northern Ocean’s Deepsea Mira rig to penetrate the Upper Cretaceous target................."

https://www.offshore-energy.biz/namibia-richer-for-gas-condensate-discovery-as-high-liquid-yield-comes-to-light

Rgds Sft

Hopefully Wiggly

If it follows as per: Stall on buyer, MM's increase spread leading to gradual fall.

As ever, REAL news required from gas on and offshore to inject some / any longterm confidence.

GLA

Rgds Sft

Well the rise has stalled, spread (LSE) holding a 10%.

If its a leak it's hopefully not from the gas 😂.

Could be one of the larger investors averaging down after the 1.4p raise and and picking up on the subsequent drop.

At least its holding around 2p

Rgds Sft

Gardie, that does kind of sum it up. There are a lot of people really p'd off with the bull that Chariot have been saying and doing for a too long.

I mean you can not hide 18yrs of failure. The only thing that is remarkable is the company has manged to keep the game going this long.

Getting called out on LinkedIn is awesome.

Weldone Francis

Rgds Sft

I agree Marland, but they are very quiet on this. Still let's dream they are keeping their powder dry for a big suprise?

Rgds Sft

Welldone GP,

A profit from CHAR! 🥳

I am broke and pushed all my chips in a while back to reduce my average. So nothing left to play the games.

I am just sitting in Das Kommand Bunker and keeping my fingers in my ears and toes crossed.

GLA

Best rgds Sft