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Chariot could soon announce a 'game-changing' deal

Shares in an African-focused energy group would easily double on the announcement
September 20, 2023
  • Farm-out in Morocco close to concluding
  • Drilling on nearby Loukos licence to start early 2024
  • $19mn equity raise at 14p in July 2023

The key take from Chariot’s (CHAR:14.75p) interim results is that the Africa-focused energy group is close to concluding 'farm-out' negotiations on its flagship Anchois gas development project in Morocco.

Around 40 companies are interested and Chariot has received multiple offers from significantly larger exploration and development (E&P) companies. The offers are based on an upfront cash payment and Chariot retaining a material stake in both the offshore Lixus and Rissana licences, in which the Anchois project is based.

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