Chariot Limited
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- Chariot Limited (AIM: CHAR) is an Africa-focused energy company engaged in upstream oil and gas exploration, appraisal, and renewable power development. The company operates through two core business streams, upstream oil and gas encompassing exploration licenses in Morocco's Lixus Offshore (75% interest, operator), Rissana Offshore (75% interest), and Loukos Onshore; transactional gas; new ventures across mature production, near-term development, and exploration assets in Namibia and elsewhere; and renewable power including electricity trading via Etana Energy (34% economic interest), renewable generation projects such as wind farms in South Africa, 75MW Du Plessis Dam solar project, power-to-mining initiatives like 430MW solar/wind for First Quantum Minerals in Zambia with TotalEnergies, 40MW solar for Tharisa in South Africa, 30MW solar for Karo Mining in Zimbabwe, water desalination in Djibouti, and green hydrogen projects including Project Nour in Mauritania with TE H2 and a PEM electrolyser pilot in Morocco with Oort Energy and UM6P. Founded in 2007 and headquartered in Saint Peter Port, Guernsey, Chariot targets industrial, mining, and grid customers across Africa, with primary operations in Morocco, South Africa, Namibia, Zambia, Zimbabwe, Djibouti, Mauritania, and Burkina Faso. Recent developments include regaining 75% operatorship of Lixus and Rissana licenses in Morocco in May 2025 after reversing a prior sale to Energean; completing US$175 million financing for Etana Energy in March 2025 comprising US$155 million guarantee facility from British International Investment, GuarantCo, and Standard Bank plus up to US$20 million equity from Norfund, enabling first revenues and scaling renewables; advancing two South African wind projects to financial close with subsidiary-level equity from strategic investors; raising gross US$7.1 million via placing, subscription, and open offer in June 2025; selling its 10% stake in Burkina Faso's 15MW Essakane solar project to IAMGOLD for US$167k in January 2025; and pursuing a demerger of upstream oil/gas and renewable power units to unlock standalone value.
Company News
Chariot says production pivot set to deliver cashflow in 2027
Cavendish lifts Chariot target price citing 390% upside following blockbuster Etu Energias deal
Chariot doubles economic footprint in Angola
Chariot plans share consolidation as focus shifts toward Angola
Chariot Limited (OIGLF) Discusses Upstream Oil and Gas Production Deal and Renewable Power Developments Transcript
Chariot's Angola deal marks a pivot from explorer to cash flow story at exactly the right moment
Chariot's Angola deal marks a pivot from explorer to cash flow story at exactly the right moment
Accenture-Anthropic cybersecurity partnership seen strengthening AI thesis, says UBS
Hargreaves Services launches £20 million tender offer at 16% premium
Chariot closer to sealing game-changing Angola deal
Chariot closer to sealing game-changing Angola deal
FTSE 100 Live: Banks fall and AI fear hits as new US tariffs begin
Chariot's renewables business is "executing at pace"
AMC Entertainment reports narrower-than-expected Q4 loss amid box office recovery
Nasdaq, Dow Jones start the week lower as Trump resets tariffs
Chariot's Angola deal "transforms the narrative" and takes the firm upstream - ICYMI
Chariot's Angola deal "transforms the narrative" and takes the firm upstream - ICYMI
Chariot raises around $20m as it lands substantial new acquisition in Angola
Chariot-backed Etana signs 220MW renewable energy deal with Sibanye-Stillwater
Chariot CFO on renewables push as funding is secured for SA wind projects