Chariot reports a US$8.1 million interim loss
It secured exposure to circa 8,000 bopd via two Angola deals and held US$4.7 million cash after a US$24.3 million raise.
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Africa-focused energy group
chariotenergygroup.comLast updated
In short: Chariot expanded its Angolan oil exposure through two Etu Energias deals
It secured exposure to circa 8,000 bopd via two Angola deals and held US$4.7 million cash after a US$24.3 million raise.
It supports Etu Energias' acquisition of interests in Blocks 14 and 14K and gives Chariot exposure to about 4,000 bopd, worth over US$100 million.
This compares with a US$22.3 million loss in 2024, helped by US$14 million of equity-accounting gains and lower costs.
Etu Energias signed an SPA for 20% of Block 14 and 10% of Block 14K, with Chariot providing US$12m and Shell Trading financing the rest.
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