New Risk • Apr 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (140% increase in shares outstanding). Revenue is less than US$1m (US$160k revenue). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Currently unprofitable and not forecast to become profitable next year (US$9.6m net loss next year). Market cap is less than US$100m (UK£44.6m market cap, or US$59.7m). Duyuru • Mar 11
Chariot Limited has completed a Follow-on Equity Offering in the amount of £2.179495 million. Chariot Limited has completed a Follow-on Equity Offering in the amount of £2.179495 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 155,678,180
Price\Range: £0.014
Security Features: Attached Warrants
Transaction Features: Regulation S; Rights Offering Duyuru • Feb 20
Chariot Limited has filed a Follow-on Equity Offering in the amount of £3.156291 million. Chariot Limited has filed a Follow-on Equity Offering in the amount of £3.156291 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 225,449,336
Price\Range: £0.014
Security Features: Attached Warrants
Transaction Features: Regulation S; Rights Offering New Risk • Oct 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$15m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m (US$160k revenue). Minor Risk Market cap is less than US$100m (UK£28.4m market cap, or US$38.2m). Reported Earnings • Sep 28
First half 2025 earnings released: US$0.004 loss per share (vs US$0.008 loss in 1H 2024) First half 2025 results: US$0.004 loss per share (improved from US$0.008 loss in 1H 2024). Net loss: US$4.69m (loss narrowed 43% from 1H 2024). Revenue is expected to decline by 123% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to grow by 3.3%. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 51% per year, which means it is performing significantly worse than earnings. New Risk • Sep 25
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$15m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$15m free cash flow). Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m (US$160k revenue). Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (UK£30.3m market cap, or US$40.4m). Duyuru • Jun 30
Chariot Limited, Annual General Meeting, Sep 05, 2025 Chariot Limited, Annual General Meeting, Sep 05, 2025. Location: the mayfair hotel, stratton street, w1j 8lt, london United Kingdom Recent Insider Transactions • Jun 22
Co-Founder recently bought UK£667k worth of stock On the 19th of June, Adonis Pouroulis bought around 48m shares on-market at roughly UK£0.014 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Adonis has been a buyer over the last 12 months, purchasing a net total of UK£1.2m worth in shares. New Risk • Jun 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 47% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Shareholders have been substantially diluted in the past year (47% increase in shares outstanding). Revenue is less than US$1m (US$160k revenue). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Currently unprofitable and not forecast to become profitable next year (US$11m net loss next year). Market cap is less than US$100m (UK£24.0m market cap, or US$32.3m). Duyuru • Jun 17
Chariot Limited has completed a Follow-on Equity Offering in the amount of £4.80598 million. Chariot Limited has completed a Follow-on Equity Offering in the amount of £4.80598 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 240,886,246
Price\Range: £0.014
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,119,045
Price\Range: £0.014
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 52,279,027
Price\Range: £0.014
Transaction Features: Regulation S; Rights Offering; Subsequent Direct Listing Duyuru • May 24
Chariot Limited has filed a Follow-on Equity Offering in the amount of £4.80598 million. Chariot Limited has filed a Follow-on Equity Offering in the amount of £4.80598 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 240,886,246
Price\Range: £0.014
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,119,045
Price\Range: £0.014
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 52,279,027
Price\Range: £0.014
Transaction Features: Regulation S; Rights Offering; Subsequent Direct Listing Duyuru • May 16
Chariot Limited (AIM:CHAR) acquired 75% stake in Lixus Offshore and Rissana Offshore licences in Morocco from Energean plc (LSE:ENOG). Chariot Limited (AIM:CHAR) acquired 75% stake in Lixus Offshore and Rissana Offshore licences in Morocco from Energean plc (LSE:ENOG) on May 14, 2025. Under the terms, Energean plc ("Energean") has returned its Moroccan offshore interests to Chariot by completing the transfer of their wholly owned subsidiary which holds 45% and 37.5% respectively in the Lixus Offshore and Rissana Offshore licences. Post completion of the acquisition, Chariot is now Operator and has a 75% working interest in each licence, with ONHYM retaining their 25% stake.
Chariot Limited (AIM:CHAR) completed the acquisition of 75% stake in Lixus Offshore and Rissana Offshore licences in Morocco from Energean plc (LSE:ENOG) on May 14, 2025. New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue is less than US$1m (US$160k revenue). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (UK£17.3m market cap, or US$23.0m). New Risk • Mar 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 9.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.9% average weekly change). Revenue is less than US$1m (US$160k revenue). Minor Risk Market cap is less than US$100m (UK£22.1m market cap, or US$28.6m). Duyuru • Oct 16
Chariot Limited Announces Board Changes Chariot Limited announce that Andrew Hockey, currently a Non-Executive Director, has been appointed to the role of Non-Executive Chairman of the Company. Andrew succeeds George Canjar, who has retired from the Board, with both changes taking effect immediately. Duyuru • Sep 16
Chariot Limited Announces Preliminary Results from the Anchois-3 Well Drilling Campaign At the Anchois Gas Project in the Lixus Offshore Morocco Chariot Limited announced preliminary results from the Anchois-3 well drilling campaign at the Anchois gas project in the Lixus Offshore licence, offshore Morocco Energean 45%, Operator, Chariot 30%, ONHYM 25%. The Anchois-3 Main Hole, has been safely and efficiently drilled to a total measured depth of 3,045m by the Stena Forth drillship in 349m of water. Further to the announcement of 11 September 2024, preliminary interpretation indicates: Multiple good quality gas bearing reservoirs were found in the B sand appraisal interval as anticipated, but the associated gas pays are now interpreted to be lower than the pre-drill geological model; Other target reservoirs beneath the B sands were also encountered but were water wet. The appraisal target reservoirs of the C and M sand were drilled deeper than the gas bearing sands in the Anchois-2 well and into the water-leg at this down-dip location. The Anchois North Flank exploration prospect was found to have well-developed O sand reservoirs, with associated gas shows, but also water wet; The Main Hole has now been plugged and abandoned, without flow testing, and the drillship is being demobilised. Further detailed work by the partnership will be done to define the next steps for the project. Duyuru • Aug 20
Chariot Limited Announces Commencement of Anchois Drilling Operations Offshore Morocco Chariot Limited announced that the Stena Forth drillship has arrived on location and drilling operations have commenced on the Anchois East well at the Anchois gas project in the Lixus Offshore licence, offshore Morocco (Energean 45%, Operator, Chariot 30%, ONHYM 25%). Anchois-3 drilling and flow testing operations are expected to take approximately two months, with Chariot expected to be fully carried for the anticipated costs of the drilling campaign. Anchois-3 is a multi-objective well with distinct operational phases: Pilot Hole: An initial pilot hole will be drilled with the main objective to evaluate the potential of the Anchois Footwall prospect, located in an undrilled fault block to the east of the main field, which has a 2U Prospective Resource estimate of 170 Bcf in the main O Sand target. Main Hole: A side-track will then be drilled to intersect and further evaluate the discovered gas sands in the Anchois field, with a current 2C Contingent Resource estimate of 637 Bcf, in the eastern part of the main fault block of the field. The deeper Anchois North Flank prospect will then be drilled, which has additional 2U Prospective Resource estimate of 213 Bcf and which will also de-risk the nearby Anchois South Flank prospect with a 2U Prospective Resource estimate of 372 Bcf. Flow Test: Well flow testing will then be performed on selected encountered gas sands to evaluate reservoir and well productivity. Future Production Well: The well will be suspended to enable it to be used as a potential future producer. Recent Insider Transactions • Aug 19
Co-Founder recently bought UK£503k worth of stock On the 14th of August, Adonis Pouroulis bought around 8m shares on-market at roughly UK£0.065 per share. This transaction amounted to 8.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Adonis has been a buyer over the last 12 months, purchasing a net total of UK£573k worth in shares. Breakeven Date Change • Aug 08
No longer forecast to breakeven The 3 analysts covering Chariot no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$9.00m in 2025. New consensus forecast suggests the company will make a loss of US$32.0m in 2025. New Risk • Aug 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 51% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 51% per year for the foreseeable future. Revenue is less than US$1m (US$80k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$64m net loss in 3 years). Shareholders have been diluted in the past year (8.2% increase in shares outstanding). Market cap is less than US$100m (UK£75.6m market cap, or US$96.2m). New Risk • Jul 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Revenue is less than US$1m (US$80k revenue). Minor Risk Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Duyuru • Jun 22
Chariot Limited, Annual General Meeting, Sep 10, 2024 Chariot Limited, Annual General Meeting, Sep 10, 2024. Location: the mayfair hotel, stratton street, w1j 8lt, london United Kingdom New Risk • Jun 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$23m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Revenue is less than US$1m (US$80k revenue). Minor Risks Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (UK£75.2m market cap, or US$96.0m). Duyuru • May 16
Chariot Limited Announces Results from the Drilling of the Rzk-1 Well on the Gaufrette Prospect Chariot Limited announced the results from the drilling of the RZK-1 well on the Gaufrette prospect, the first of a two well drilling campaign, in the Loukos Onshore licence ("Loukos") onshore Morocco (Chariot, Operator 75%, ONHYM, 25%). The RZK-1 well was safely and efficiently drilled, on time and on budget, to a final measured depth of 961m through the Gaufrette Main target which was found on prognosis. Following comprehensive evaluation of the well data, including wireline logs, cuttings and gas data, preliminary interpretation confirms thick intervals of good quality reservoir exceeding pre-drill expectations, with multiple gas shows of various intensity, however these reservoirs are largely interpreted to be water-bearing and therefore are sub-economic. Further post-drill analysis will be conducted, alongside interpretation of the newly reprocessed 3D seismic data, to understand the results of the well and implications for future exploration in the Gaufrette area, including potential deeper objectives. The well will now be plugged and abandoned and the rig will then move to the second location of the campaign to drill the OBA-1 well at the Dartois prospect in the coming days, which is targeting a different independent prospect. An update will follow confirming commencement of these operations. Duyuru • May 03
Chariot Limited Announces Commencement of Drilling Operations Onshore Morocco Chariot Limited announced that drilling operations have commenced at the Loukos Onshore licence ("Loukos") onshore Morocco (Chariot, Operator 75%, ONHYM, 25%) with the spud of the RZK-1 well on the Gaufrette prospect. Gaufrette Main target has Best Estimate recoverable prospective resources of 10 Bcf; Option to penetrate a deeper target identified on newly reprocessed 3D seismic data; Strong read through for other geologically linked prospects in the Gaufrette area with success potentially unlocking combined Best Estimate recoverable prospective resources of 26 Bcf; and Results will be announced on completion of drilling. New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$3.6m net loss in 2 years). Share price has been volatile over the past 3 months (8.2% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). New Risk • Dec 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$3.6m net loss in 2 years). Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Duyuru • Nov 01
Chariot Limited Receives Approval for its Environmental Impact Assessment from the Moroccan Ministry of Energy Transition and Sustainable Development on the Anchois Gas Development Project Offshore Morocco Chariot Limited announced that it has received approval for its Environmental Impact Assessment ("the EIA") from the Moroccan Ministry of Energy Transition and Sustainable Development ("the Ministry") on the Anchois gas development project ("Anchois") offshore Morocco. The EIAprocess for Anchois was conducted over a 12 month period and was informed by: onshore and offshore environmental and social baseline surveys, an open and transparent stakeholder engagement programme held in conjunction with relevant parties and a public enquiry process which spanned four local provinces. The final report sets out the requisite planning, mitigation and monitoring measures to follow during construction and production. The EIA integrates recommendations from the National Environmental Committee, is valid for five years andcovers all aspects of the development including future wells and offshore infrastructure, the onshore Central Process Facility and link to the GME pipeline. New Risk • Sep 19
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$15m Forecast net loss in 2 years: US$3.6m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$3.6m net loss in 2 years). Share price has been volatile over the past 3 months (7.4% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. CFO & Executive Director Julian Robert Maurice-Williams was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jul 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 10.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (10.0% increase in shares outstanding). Duyuru • Jul 12
Chariot Limited announced that it expects to receive $15 million in funding Chariot Limited announced that it will receive $15 million in a round of funding on July 10, 2023. Duyuru • Jun 29
Chariot Limited, Annual General Meeting, Sep 07, 2023 Chariot Limited, Annual General Meeting, Sep 07, 2023, at 10:00 Coordinated Universal Time. Location: the May Fair Hotel, Stratton Street London United Kingdom Recent Insider Transactions • Jun 19
Co-Founder recently bought UK£400k worth of stock On the 13th of June, Adonis Pouroulis bought around 2m shares on-market at roughly UK£0.18 per share. This was the largest purchase by an insider in the last 3 months. This was Adonis' only on-market trade for the last 12 months. Buying Opportunity • May 05
Now 26% undervalued Over the last 90 days, the stock is up 132%. The fair value is estimated to be UK£0.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Apr 21
Now 21% undervalued Over the last 90 days, the stock is up 124%. The fair value is estimated to be UK£0.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Apr 05
Now 22% undervalued Over the last 90 days, the stock is up 203%. The fair value is estimated to be UK£0.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only.