Chariot Oil & Gas
Yesterday I had the chance to do an extended interview with Chariot Oil & Gas CFO Julian Maurice-Williams. In a wide-ranging discussion we talked about the Lixus licence acquisition and also this week’s announcement regarding the Development Feasibility Study and also the Morocco Gas Market Assessment and a lot more.
In our discussion he talked about the much bigger addressable market for potential partners and how well that process is going, Chariot have historically been very strong in this respect and it looks like this time is no different. With a strong, fiscally attractive market within Morocco and the potential to export through the Maghreb pipeline into Europe the opportunities are plenty and the Lixus licence can be developed via a single phase or staged development.
Chariot has added a genuinely high value asset and with potentially near term cash flow possible the shares look highly promising, at less than 5p and with at least 4p of cash in the balance sheet the shares are well funded and have serious upside from these levels.