Potential Net Farmout Value Chariot O&G US$274.88MM (US$1.05/share)
Chariot O&G Farm Down History
BP Namibia Southern Block 2714A 25%
(5,480km² total)
~US$30MM
US$21,897 per 1km²
AziLat Brazil BAR-M-292, -293, -313, -314 25%
(768km² total)
~US$4MM
US$21,000 per 1km²
Cairn Mauritania C-19 35%
(12,175km²)
~US$26MM
US$6,078 per 1km²
PGS (AziNam) Namibia Central Blocks 2312A&B & 2412A&B 10%
(16,800km²)
~US$10MM
US$5,952 per 1km²
PetroBras Namibia Southern Block 2714A 50%
(5,480km²)
~US$16MM
US$5,840 per 1km²
Woodside Morocco Rabat Deep 25%
(10,782km²)
~US$13MM
US$4,823 per 1km²
Potential Net Farmout Value Chariot O&G US$274.88MM
US$1.05/share; £0,68/share; 850% of current shareprice:
Namibia Central Blocks (16,800km²):
Chariot 65% (Operator), AziNam 20%, NAMCOR 10%, Ignitus 5%
Potential Farmout Value:
(US$6,000*16,800km² = US$101MM + (3,500km²) 3D ~US$26MM) * 0.65
= US$82.42MM
+
Namibia Southern Blocks (10,945km²):
Chariot 85% (Operator), AziNam 10%, Quiver 5%
Potential Farmout Value:
(US$6,000*10,945km²)*0.85
= US$55.82MM
+
Mauritania C-19 Block (12,175km²):
Chariot 55% (Operator), Cairn 35%, SMH 10%,
Potential Farmout Value:
(US$6,000*12,175km² + (3,500km²) 3D ~US$26MM)* 0.55
= US$54.48MM
+
Brazil Bar-M Blocks (768km²):
Chariot 75% (Operator), AziLat 25%
Potential Farmout Value:
(US$21,000*768km² + (800km²) 3D ~US$15MM)* 0.75
= US$23.35MM
+
Morocco Rabat Deep Block (10,782²):
Chariot 50% (Operator), Woodside 25%, ONHYM 25%
Potential Farmout Value:
(US$5,000*10,782km² + (1,075km²) 3D ~US$10.75MM)* 0.5
= US$32.33MM
+
Morocco Loukos Block (1,155km²):
Chariot 75% (Operator), ONHYM 25%
Potential Farmout Value:
(US$5,000*1,155km² + (250km²) 3D ~US$2.5MM)* 0.75
= US$6.21MM
+
Morocco Mohammedia Block (4,654km²):
Chariot 75% (Operator), ONHYM 25%
Potential Farmout Value:
(US$5,000*4,654km² + (375km²) 3D ~US$3.75MM)* 0.75
= US$20.27MM
_________________________________________________________________
= US$274.88MM
