Chariot Ltd (AIM:CHAR, OTC:OIGLF) announced it will ask shareholders to approve a 25-for-1 share consolidation as the Africa-focused energy group presses ahead with a shift back towards upstream oil and gas. The AIM-listed company said the proposal would consolidate every 25 existing ordinary...

Chariot CEO Adonis Pouroulis spoke at the Proactive One2One Investor Forum about how the company is transforming from a frontier exploration business into a cash-generative upstream energy company focused on production, growth and shareholder returns. Pouroulis outlined the significance of Chariot's proposed participation in Angola's Block 14 and Block 14K, describing the transaction as a major step in the company's evolution. The deal gives Chariot exposure to producing offshore oil assets, providing immediate cash flow and long-term development opportunities. During the presentation, Pouroulis explained that Chariot's strategy is now centred on acquiring producing assets capable of generating revenue from day one, while also maintaining development and growth opportunities across its African portfolio. Pouroulis further explained how the company plans to unlock value from its renewable power portfolio, with proceeds potentially supporting growth in its upstream oil and gas business. #Chariot #AdonisPouroulis #AngolaOil #Block14 #OilAndGas #EnergyStocks #AIMStocks #AfricanEnergy #ShareholderValue #OilProduction #EnergyTransition #MoroccoGas #Anchois #RenewableEnergy #Investing #StockMarket #EnergyInvestment #Shell #ProactiveInvestors

Chariot Ltd (AIM:CHAR, OTC:OIGLF) has spent years accumulating exploration acreage across Africa, but Friday's announcement marks something fundamentally different: a direct route to oil production revenues at a time when the commodity it hopes to sell has rarely been more valuable. The deal,...

Chariot Ltd (AIM:CHAR, OTC:OIGLF) has moved closer to securing cash-generating exposure to offshore Angola production after helping finance Etu Energias’ acquisition of stakes in Blocks 14 and 14K, a deal that gives the AIM-listed group economics linked to around 4,000 barrels of oil per...

Chariot Ltd (AIM:CHAR, OTC:OIGLF) said South African renewable electricity trader Etana Energy has secured a further 150MW of sole offtake from the Orkney 219MW solar PV project, as the development reached financial close. Orkney, in South Africa’s North-West province, is being built by...

Chariot Ltd (AIM:CHAR, OTC:OIGLF) this week announced a funding agreement that gives the company economic exposure to producing oil assets offshore Angola, marking what CEO Adonis Pouroulis described as a “transformative deal” and a pivotal step in the company’s upstream strategy. The company...

Chariot Ltd (AIM:CHAR, OTC:OIGLF) has raised net proceeds of around US$20 million through an oversubscribed placing and subscription priced at 1.4p a share, as the AIM-listed group lines up funding for a transaction designed to give it near-term economic exposure to offshore Angola...

Chariot Ltd (AIM:CHAR, OTC:OIGLF) CEO Adonis Pouroulis talked with Proactive's Stepyen Gunnion about the company’s acquisition funding agreement to gain exposure to producing oil assets offshore Angola, marking what he described as a “transformative deal” for the business. Chariot has announced plans to provide $12 million in funding, alongside transaction costs, to support Etu Energias in acquiring a 20% interest in Block 14 and a 10% interest in Block 14K offshore Angola. In return, Chariot will secure exposure to the economics of production equivalent to up to 4,000 barrels of oil per day, with funding to be repaid from future cash flows. Pouroulis highlighted the strategic importance of the transaction, stating: “This is indeed a transformative deal. It is the seed of a company maker with this transaction. It transforms our narrative.” He added that the move delivers on the company’s stated objective of bringing oil production into its upstream portfolio. The deal is supported by Shell Trading, which is providing an acquisition financing package of up to $170 million in exchange for future offtake. The assets are located in a prolific oil-producing region and have produced nearly one billion barrels to date, with Block 14 recently extended to 2038. Adonis emphasised that Chariot remains committed to its Moroccan and Namibian assets while continuing plans to separate its renewable energy business. The company also confirmed an open offer for existing shareholders on the same terms as the placing. For more interviews like this, visit Proactive’s YouTube channel, give this video a like, subscribe to the channel and enable notifications so you never miss an update. #ChariotLtd #AdonisPouroulis #AngolaOil #OilAndGas #EnergySector #Upstream #OilProduction #Shell #Block14 #InvestingNews #AIMStocks #EnergyInvestment #AfricaEnergy #OilMarket

Etana Energy has signed a ten-year power purchase agreement to supply 220 megawatts of renewable electricity annually to Sibanye-Stillwater’s mining operations in South Africa, marking a significant step forward for the Chariot Ltd (AIM:CHAR, OTC:OIGLF) backed energy trader. Chariot, the...

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