Chariot Oil & Gas (CHAR) AI Stock Analysis

• Market Cap: £27.27M
• Dividend Yield: N/A
• Average Volume (3M): 4.69M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.37
• Revenue Growth: -2.69%
• EPS Growth: -5.00%
• Country: UK
• Employees: 2
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): N/A
• Shares Outstanding: 1,577,478,000
• 10 Day Avg. Volume: 2,410,533
• 30 Day Avg. Volume: 4,690,998
• PEG Ratio: -0.04
• Price to Book (P/B): 0.46
• Price to Sales (P/S): 166.73
• P/FCF Ratio: -1.22
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: 1.50p ▼(-1.32% Downside)

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.

Positive Factors

Balance sheet strength

A relatively strong equity position and limited total debt provide financial flexibility for an E&P firm facing capital needs. This equity buffer can support near-term funding, joint-venture contributions, and protects creditors, improving resilience through multi-quarter exploration cycles.

Strategic shift & partnerships

A strategic move into renewables and forming partnerships signals diversification beyond traditional upstream exposure. Structurally, this can broaden addressable markets, reduce commodity risk over time, and improve access to partner capital and ESG-focused financing as energy transition policies evolve.

Positive gross profit margin characteristic

A positive gross margin, albeit on a small base, suggests a cost structure where direct extraction costs are currently low. If scaled with successful development, this structural margin advantage could translate to operating leverage and improved cash conversion as production volumes rise.

Negative Factors

Persistent negative cash flow

Ongoing negative operating and free cash flow requires repeated external funding, which can dilute shareholders and constrain strategic flexibility. Over months this undermines the firm's ability to self-fund exploration, meet capex needs, and increases refinancing and execution risk for development plans.

Chronic operational losses

Sustained negative EBIT and net margins indicate the company is not generating returns on operations. Structurally this erodes retained earnings and investor confidence, limiting ability to attract non-dilutive capital and hindering long-term viability unless profitability trajectories materially improve.

Very small revenue base and scale

A revenue base under $200k highlights limited commercial scale for an E&P business where development and exploration costs are large. This structural lack of scale constrains margins absorption, bargaining power, and the ability to internally fund growth without external capital over multiple quarters.

Chariot Oil & Gas Business Overview & Revenue Model

Company Description

Chariot Limited, together with its subsidiaries, engages in the oil and gas exploration and appraisal activities. The company operates through Transactional Gas and Transactional Power segments. The company holds interests in the Rissana offshore license that covers an area of approximately 8,489 square kilometers; and Lixus license comprising an area of approximately 2,390 square kilometers in Morocco. It also focuses on mining power projects in Africa. The company was formerly known as Chariot Oil & Gas Limited and changed its name to Chariot Limited in June 2021. Chariot Limited was incorporated in 2007 and is based in Saint Peter Port, Guernsey.

How the Company Makes Money

Chariot Oil & Gas generates revenue primarily through the exploration, development, and production of oil and gas resources. The company engages in exploration activities to discover new hydrocarbon reserves, which, once developed, lead to the production of oil and gas for sale in the market. Key revenue streams include the sale of crude oil and natural gas, with pricing influenced by global commodity markets. Additionally, Chariot may enter into joint ventures and partnerships with other industry players, which can provide upfront capital investment and shared operational costs, further enhancing its financial stability and revenue potential. The company also focuses on securing long-term contracts and agreements for its produced resources, which can provide a steady income stream and mitigate market volatility risks.

Chariot Oil & Gas Financial Statement Overview

Summary

Chariot Oil & Gas faces significant financial challenges with minimal revenue growth and persistent operational losses. The balance sheet shows some stability due to low debt levels, but ongoing net losses and negative cash flows highlight liquidity issues and reliance on external financing.

Income Statement

Chariot Oil & Gas has faced significant challenges in terms of revenue generation and profitability. The company has experienced minimal revenue growth, with the total revenue only increasing to $162,000 in 2024 from $80,000 in 2023. Despite a positive gross profit margin due to negligible cost of goods sold, the EBIT and net income margins remain deeply negative, indicating ongoing operational and net losses. This highlights significant challenges in achieving profitability.

Balance Sheet

The balance sheet shows a relatively strong equity position, with stockholders' equity at $58.2 million and a low debt-to-equity ratio due to limited total debt. However, the company’s high equity ratio indicates reliance on equity financing, which could be a strength in terms of financial stability. Nonetheless, the ongoing net losses have deteriorated the return on equity, reflecting inefficiencies in generating returns on shareholder investments.

Cash Flow

Cash flow analysis reveals persistent negative operating and free cash flow, emphasizing liquidity issues. The operating cash flow to net income ratio remains negative, and the free cash flow position has worsened over time. Although there have been financing inflows, this reliance on external financing to fund operations raises concerns about sustainable cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	160.00K	162.00K	80.00K	0.00	0.00	0.00
Gross Profit	-1.70M	162.00K	80.00K	0.00	0.00	0.00
EBITDA	-12.47M	-21.72M	-15.04M	-14.30M	-6.42M	-4.37M
Net Income	-18.82M	-22.35M	-15.58M	-14.88M	-6.96M	-70.62M
Balance Sheet
Total Assets	65.43M	63.63M	74.64M	67.61M	54.75M	18.07M
Cash, Cash Equivalents and Short-Term Investments	5.56M	2.20M	4.97M	11.30M	19.41M	3.24M
Total Debt	655.00K	796.00K	1.34M	359.00K	430.00K	849.00K
Total Liabilities	5.01M	5.39M	5.77M	6.56M	15.79M	1.91M
Stockholders Equity	60.42M	58.23M	68.87M	61.06M	38.96M	16.16M
Cash Flow
Free Cash Flow	0.00	-22.15M	-23.22M	-39.13M	-11.56M	-6.03M
Operating Cash Flow	0.00	-10.89M	-8.57M	-9.63M	-6.18M	-4.05M
Investing Cash Flow	0.00	5.00K	-14.55M	-29.44M	-5.39M	-1.95M
Financing Cash Flow	0.00	7.79M	17.28M	32.29M	27.71M	-409.00K

Chariot Oil & Gas Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.52
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CHAR, the sentiment is Positive. The current price of 1.52 is below the 20-day moving average (MA) of 1.58, below the 50-day MA of 1.57, and below the 200-day MA of 1.56, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 60.72 is Neutral, neither overbought nor oversold. The STOCH value of 87.15 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CHAR.

Chariot Oil & Gas Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
SOU	53 Neutral	£19.56M	-2.44	-45.38%	―	―	―
MATD	50 Neutral	£22.31M	-2.23	-56.16%	―	―	―
PRD	48 Neutral	£29.17M	-10.47	-12.26%	―	―	―
CHAR	47 Neutral	£27.27M	-1.36	-31.10%	―	-2.69%	-5.00%
JOG	44 Neutral	£32.67M	-21.46	-6.74%	―	―	―

Chariot Oil & Gas Corporate Events

Chariot Grants Deferred Share Awards to Align Board Incentives With Shareholders

Chariot Limited has granted a series of deferred share awards to its executive and non-executive directors as part of a long-term incentive and retention strategy aligned with AIM corporate governance practices. Chief executive Adonis Pouroulis, chief financial officer Julian Maurice-Williams and technical director Duncan Wallace have each received nil-cost options over 6 million, 4.5 million and 4.5 million ordinary shares respectively, vesting in three equal tranches between June 2026 and June 2028 and exercisable until December 2035. In addition, chairman Andrew Hockey has been awarded 434,065 matching share units tied to his prior on-market share purchases, with vesting schedules extending to 2028 and conditional on his continued role and retention of the underlying shares. The move underscores the board’s emphasis on equity-based remuneration to reward management for steering the business through a period of operational and strategic transition and to further align senior leadership with shareholder interests over the long term.

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.

Chariot Sells Djibouti Water Business to Refocus on Core African Power Projects

Chariot Limited has sold its water business, including its 80% interest in the Oasis Water Platform and a proof-of-concept desalination project in Djibouti, to AquaNexus Holding for US$435,000 in cash, as it sharpens its focus on core electricity trading and generation activities within its Power division across southern Africa. The divestment removes a small, loss-making operation that generated US$162,000 in revenue and a US$100,000 loss in 2024, allowing Chariot to redeploy proceeds for general corporate purposes and streamline its portfolio around higher-priority energy and renewable power projects on the continent.

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.

Chariot Secures Major Financing for South African Wind Projects

Chariot Limited has successfully secured significant financing and a strategic equity partnership to fund its investment in two wind generation projects, Zen and Bergriver, in South Africa. These projects are led by Acciona Energia, with construction set to begin soon. Chariot has established a new subsidiary, Chariot Generation and Trading Pty Limited, which holds a 24% stake in the projects and a 34% economic interest in the South African electricity trading platform, Etana. The financing package includes project finance debt, equity investment from the Mahlako Energy Fund, and mezzanine debt, with no dilution at the parent company level. This strategic move positions Chariot to receive revenue streams from electricity generation and trading post-commissioning in mid-2027, enhancing its renewable power business and market presence in South Africa.

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.

Chariot Limited Achieves Financial Close on Major South African Wind Projects

Chariot Limited has reached financial close on two significant wind generation projects in South Africa, the Zen and Bergriver wind farms, with a combined capacity of 190MW. These projects, co-owned with Acciona Energía and H1 Holdings, are expected to commence construction soon and will contribute to reducing CO₂ emissions by 600,000 tonnes annually once operational. The projects mark a key milestone for Chariot, creating future revenue streams through power sales and energy trading via Etana Energy, a platform in which Chariot holds a 34% interest. This development aligns with Chariot’s strategy to expand its renewable power generation and trading portfolio, enhancing its position in the South African energy market.

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.

Chariot Partners with ACWA Power for Southern African Energy Platform

Chariot Limited has signed a Memorandum of Understanding with ACWA Power to explore the creation of a sustainable energy platform in Southern Africa. This partnership aims to develop and operate transitional power assets, including renewable energy, battery storage, and gas-to-power, targeting countries such as South Africa, Botswana, and Namibia. The collaboration leverages both companies’ expertise to unlock investment opportunities and deliver scalable energy projects. This strategic move is part of Chariot’s broader plan to separate into two distinct entities and enhance its power generation platform, potentially impacting its market positioning and stakeholder interests.

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.