Member Info for Surfit

..........share holders is a very

The only way there will be an shift in the share price can only come from the gas side. Which could happen anytime or never.

Its weighted towards never, hence the current value and that management (>st % being AP) are the ONLY closed offer investors inputting via the each time urgently required (to keep afloat) cash requirements and is a < or > % of their wages.

The open offer to current share holders is a very

What's ETANA

and

CEO $900k purchase @ 1.4p a few months ago

When investors do detailed research, its impressive

GLA, the guns are in the house.

Rgds Sft

My hands are numb Wiggly 😁

All the best Sft

Just really think about how bad you have to be at your job, to be in business for 18yrs and NEVER once achive a success 🤔

It really embarrassing, Chariot Energy can't really attend ANY industry conferences anywhere.

The really interesting thing is, if they do not get any gas out of Anchois-1 and 2 they are still liable for the Plug and Abandonment costs, they can not leave the wells the way they are presently forever.

I see Oiltdr (among others industry "experts") has disappeared, after pretending to be offended when getting called out. The ramp and run failed and he has cut his losses.

Rgds Sft

Hey Jt, are we now not under the licence time constraints? Rather than Chariots cash reserves (which should run out sooner) or their "corporate" (fantasy) presentations?

I mean of course if nothing has happened by the November 18, 2025 for Rissina and March 2, 2025 for Loukos these would be handed back potentially correct?

Now does that date include Lixus / Anchois I am assuming NOT but nothing has been stated in any of the articals?? How long is left on the Lixus /Anchois.

The fact is unless Chariot come up with development funder or financing, I now place some real credibility that ONHYM COULD take it back and sell it to someone that has the cash.

ADDTIONAL INFO

Whilst trying to search for the life of the Anchois/ Lixus licence found this "Corporate" presentation from 2019 that they were spinning back then 😂

Worth a download and read to see how much has been spent and what has been achieved.

https://chariotenergygroup.com/app/uploads/2019/07/Chariot_MMEA_July_2019.pdf

All the best Sft

Well DW AND PR will BOTH be out of a job if they do not secure funding for Morocco.

I am expecting very little from Nambia, they can't afford 12% of ANY drilling cost out there.

So "IF" Morocco does not work then the O&G side must fold, the company could not raise any investors at 1.4p no ii will risk buying shares at 1p.

SO how much will they have to give away to get someone to finance Loukos? With no OBA-1 FT

SO are they really going to go for Anchois 1&2 but you have to do another drill on A1 for production tubing and a flow test to be sure of productivity, flow rates, subsea PL size, processing facility parameters....or if your out there do you not try also for two more drills???? As Mob /demob, transits all cost.

If they do not drill another location(s) is that because the re,re, re, re-vised data indicates its really only Anchois.

Energean obviously thought so.

THEN you have to think if they can not farm it out and are going to go through some type of UAE funding, is DW and PR going to build Chariot into being a real operators ( Which AP intimated 🤔😂) 😒.

These 🤡's have not successfully built ANYTHING in 18yrs.....and the market knows it.

AP and the two new renewable guys have some sort of synergy, in that AP knows mines and they have dreams of African renewables and grabbing the world bank + funding that will help them out.....either that or China will??

Let's see if DW and PR can find anothe investors, expect to be left with 10% this time, if we're lucky, round.

GLA

Rgds Sft

Hey Jt, The fact that it's just Duncan and your comments made me seek greater detail...found this:

Seem to be some flexibility.

"All Directors are subject to election by shareholders at the first AGM after their appointment to the Board and will continue to seek re- election at least once every three years...."

https://www.pulsargroup.com/investors/aim-rule-26/#:~:text=All%20Directors%20are%20subject%20to,least%20once%20every%20three%20years.

Re-election of directors:

All directors should be subject to annual re-election

The chair should not remain in post beyond nine years from the date of their first appointment to the board.

https://www.osborneclarke.com/insights/aim-companies-which-corporate-governance-code-to-follow.

Posting just for intrest.

Rgds Sft

Intresting that the only director who has been put forward for reappointment is Duncan Wallace:

"To reapoint Duncan Wallace, who retires by rotation"

Rgds Sft

Thank you for the post(s) Surety.

Total and Char are giving themselves plenty of time to complete Project Nour: 2035!

A 6 monthly progress reports might be seen as professional. The feasibility study has been completed for some time. After all if you look at last year's accounts that where ALL the renewables spend costs went under the title of "Hydrogen"

What role is TotalEnergies playing in the partnership, does any one know, have we been told?

GreenGo Energy seem to be setting the pace with a target of 2029 and with multiple energy platforms electrolysis, wind and solar.

Although is the Denmark asset all they have?

Rgds Sft

Nice find Jt 👍

What should be considered is looking at the comments contained within the link:

"..........The ministry also signed off on the first amendment to Chariot’s agreement with the national oil and gas authority ONHYM, formalized in February 2025. The changes shorten both the first and second optional extension phases to six months each and redefine the scope of required exploration activities....."

We should remember that if Chariot do not secure funding within this last time period they would be required to hand back the licenses to ONHYM including the field data, ONHYM would then be free to hand onto another who may have cash to do further exploration?

I would say though as CHAR have been granted the extension they have been told "get on with it, or get off the pot". 🤷‍♂️

They are no where further than since they confirmed Anchois 1 and 2 in 2022. The subseqent FEED may have helped a bit but not much.

In my opinion they have had since September 24 (end A2) to find customers for Anchois and since June or September for OBA-1.....again both farmout and FEED significantly hampered by definitive no flow tests ( despite the "professionals" stating it was not required????)

It a count down now, CHAR and the Morocco gas venture are really drinking at the last chance saloon.

Let's see, hopefully they have it all oven ready and are arguing over the %'s?🤷‍♂️

GLA

Rgds Sft

Hey Klein, Yes I use to think that might happen one day.

Unfortunately they just seem to be highly adept at creating thicker fog, more shares, reduced value and look on track to create a penny share price.

I am sure though, there is a chance those that came in at 2, 1.5, 1.4p could double their investments on some good news 🤞

The good news could come from a successful build of the 1x renewable mining plant, getting ETANA working, dependednt on other successful company projects.

Although the challenge is as always first that it covers the wage bill, then G&A, the operating costs, split into partners % then they might reinvest that profit into .......looking at our Djibouti water project any profits are a challenge.

Would be good to know how the Hydrogen pilot project is progressing? Combine that, Djibouti and solar/ wind projects in 5yrs to 7yrs we might be up to submitting a tender for Mauritania..not sure of the "Subsidiary" costs to get us there though.

As you say Klein, let's hope they will one day turn their fog machine off 😁.

They have worn the use of slight of hand out...redirecting raise money 😯

GLA

Rgds Sft

As usual Surety, good digging and thank you for posting.

I do find the comments interesting:

"licenses retain “substantial possibilities” despite Energean’s withdrawal, which followed disappointing drilling results and UNFAVOURABLE cost-to-reserve ratio.

Question on Data: Something still is NOT right on why was only one (A3) drill conducted????

Question this information: Chariot’s Adonis Pouroulis "CONFIRMED OVER $100 million in local investments, and highlighted ongoing work with OCP on a 1GW green hydrogen pilot project"

Usual deceptions/ misrepresentation: Chariot have put in over $100 million: salary's G&A remain the greatest outlays.

My continued fear still sits firmly on the reality of the actual gas present at Anchois, Lixus, Rissana AND Lokous.

Coupled with Energean walking after 1x drill, why no seismic.....

1. My, probabley the markets and investors as a whole must read that there WAS (at farm in) VERY limited confidence on Duncan Walaces data, THIS WAS FULLY CONFIRMED after A3. Note the market saw THIS SIGNIFICANT DOUBT once the farm in terms were published, hence SP fall.

Again as compound over 18yrs CHAR have not ever been successful in exploration (to date).

2. Morocco’s ONHYM new entity: Is this the important change needed, if so why? Does it mean Chariot can NOT secure any institutional or O&G operator interest.

It looking like they can not.

So the Changes are not overly clear but a comment in this artical indicates how "........ The law draws directly from Framework Law No. 50.21 and Law No. 82.20, and seeks to introduce a new governance model for ONHYM. It ALSO opens the door to stronger performance, diversified funding sources, and more effective use of national assets.

Benali further noted that this change would boost economic and territorial value and allow the agency to contribute more significantly to Morocco’s development goals....."

Whether this "ALSO" is going to ANY help to Chariot and Anchois (or any of its other Gas locations) IS pure guessing or hopeful speculations.

The bottom line is if the assets and latest data " re,re re, revised data looked good some one would have bought in, they have not.

The best hope lies in ONHYM brokering some financing from a Quatar type investment vehicle. IMO.

https://www.moroccoworldnews.com/2025/06/221238/morocco-launches-ambitious-public-sector-reform-with-onhym-restructuring/

🤷‍♂️🤔 🙏

All the Best Sft

NewKOTB,

EVERY raise is the same: it was stated on here to hold until after as this is what happens BUT the late entries or those with cash needing to average down did not heed

Once it is confirmed there is actually no good news coming, the erosion restarts by the virtue of the ACTUAL new share DILUTION.

Rgds Sft

Let's see

Hey Klein, I do not "think" they are swaning around, I just "know" they are really terrible at their jobs.

18yrs of no wins kinda supports that 🤷‍♂️😁

Rgds Sft

ONshore was added during Farm out negotiations but before terms were signed BECAUSE DW and AP knew Energean were not going to pay enough to keep the company liquid, so by adding another false dawn, they could keep the game going.

18yrs at 500k per annum is not a bad gig that's from just one of his many companies.

The trouble is Duncan or AP were using costs as a excuse to avoid final conformation. The industry has caught on to their game and their abilities: Chariot is not run by O&G (or renewable) professionals. We know ONshore could be the way but it was added as another false funding opportunity.

The board at Petra exposed AP and eventually voted him out. Here DW and AP will run Chariot into the ground.

It has already happened in that they are putting money back in, that they stole as wages, as a last ditch attempt to sell it to someone. No one else will add finance anymore. To keep the game going they are splitting to ditch the O&G so they can sell renewable in Africa....these guys have NEVER produced anything, the CFOs new scam is marketed as " subsidiary" funding. 😆

Correction: I.e. Proposef flow test for Q3 2024 (not 2023)

Rgds Sft

They have to find ANYONE to finance Duncan Wallaces Anchois 1 & 2 and OBA-1 "find" to production, without confirmed flow rates or finance MORE exploration.

We saw the only deal they could get last time was to give away a MASSIVE 45% and 37.5% interests in the Lixus and Rissana licences respectively for $10 million and 1x drill.....and ENERGEAN walked away after that drill.....as said IMO no financiers or operators do not trust the BODs....17/18yrs and NEVER A winner.

TO split the company they need for the oil side to actually have some cash in the bank, at the moment the directors have put in money to keep the company afloat....Chariot is on its last legs and a 1p offer may come from some friends of AP.

Chariot have said VERY little about what they are doing, remember they have know since September 24 ( held back the OBA-1 "flow test money allocated for that date I.e. Proposef flow test for Q3 2023) that Enog were going to exit...why hold the cash back??

Ever since I invested they have snatched defeat from the jaws of victory by either misrepresentation, not forfilling the stated project objectives, redirecting raised cash to fund the renewables, the majority of all funding has gone on salaries and G&A and made incredibly poor project decisions.

These guys would never have the capability to become offshore or onshore operators they can't even run an exploration company.

ALTHOUGH

All of this does not matter IF

1. The can find some one to fund O&G

2. There is actually commercially profitable amounts of gas present.

After Enog my bet is they give all of it away with them having left 10% or sell it for cheap.

IMO

GLA

Rgds and being slightly pessimistic I know 😂

Sft

Hey ObsCure, I know they had spoken about debt deferment but I am not sure how that is showing up in the accounts. They may have paid that off, via the Energean farm in.

Hopefully we will get annual report and accounts for 2024 sent out in September.

This drop looks a odd, but as before it could be a recent entry bottom feeder exiting and hopefully not an LTH insider exiting.

Having no news on farm outs, no news on financing, no news on the real T&C off the split and the long term reputation and lack of results it has spooked someone, who has ONLY NOW decided to act...CHAR (IMHO/DYOR I.e. sp drops before placings) has always suffered from insider knowledge selling (have to go back to 2022 for buying I.e. good or impactful news).

Will be intresting to see where it stops...IMO Adonis Pouroulis had +7% as the Chariot CEO, I then BELIVE his investment company (Westward Investments has 8.2% AP is CEO of this company to.

References

Market screener has AP owning 12% and also shows some of the many other companies he is CEO or investor of but not ALL

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

Reference

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

Which shows board and managment at 8.2 with AP (when I last xhecked) at around 7.8% the rest 0.4%

Could his recent commitment brought his share % up to the new 12% then add Westward 8% totalling 20% controlling interest in CHAR. The only person previously Close was AA at +7%

If this is sustained sell off down to 1p could they come out with another raise required? For a greater aquestion of control.

Looks like AA was not invited or did not want to add more to his 7% on the initial closed offering.

It's all very odd.

🤷‍♂️🤔

Rgds Sft