Chariot Gains Economic Exposure to Producing Angolan Oil Assets

Chariot Oil & Gas ( (GB:CHAR) ) has issued an update.

Chariot has secured economic exposure to producing oil assets offshore Angola by part financing Etu Energias’ acquisition of a 20% working interest in Block 14 and a 10% interest in Block 14K. The company has provided a US$12m deposit and related costs, alongside an acquisition financing package from Shell Western Supply and Trading, which will be repaid through future offtake barrels.

This funding structure fully finances the transaction and positions Chariot to benefit from long-term cashflows equivalent to around 4,000 barrels of oil per day and an indicative net asset value of more than US$100m at US$60 per barrel. The move marks a strategic shift for Chariot into material production in a prolific Angolan basin, leveraging established Chevron-operated infrastructure and reserves that support medium-term cash generation, with completion expected in the second half of 2026 subject to regulatory approvals.

The most recent analyst rating on (GB:CHAR) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on Chariot Oil & Gas stock, see the GB:CHAR Stock Forecast page.

Spark’s Take on CHAR Stock

According to Spark, TipRanks’ AI Analyst, CHAR is a Neutral.

Chariot Oil & Gas’s overall stock score reflects significant financial challenges and bearish technical indicators. However, strategic corporate events, including partnerships and a shift towards renewable energy, offer potential for future improvement. The company’s valuation remains unattractive due to ongoing losses.

To see Spark’s full report on CHAR stock, click here.

More about Chariot Oil & Gas

Chariot Limited is an Africa-focused energy group with two main business streams: upstream oil and gas and renewable power. Its oil and gas operations span Angola, Morocco and Namibia, while its renewables arm develops and trades power in South Africa and advances power-to-mining and green hydrogen projects, including Project Nour in Mauritania.

Average Trading Volume: 4,334,964

Technical Sentiment Signal: Strong Sell

Current Market Cap: £36.51M

Learn more about CHAR stock on TipRanks’ Stock Analysis page.