Chariot Oil focuses on risk management
Chariot Oil & Gas said it would focus on risk management going forward as it updated the market ahead of its full year results.
Chariot Oil & Gas said it would focus on risk management going forward as it updated the market ahead of its full year results.
The company said it had continued to diversify and balance its portfolio through the acquisition of further licence areas, including Casablanca/Safi, Loukos and Rabat Deep, in Morocco.
This served to both further broaden its West African focus and also de-risk the exploration portfolio.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chariot now operates in frontier, emerging and proven hydrocarbon provinces with highly prospective acreage positions across three countries and five basins.
The firm said it had acquired a significant amount of new proprietary information through its 2012 drill programme.
Its prospective resource inventory is currently under review and hit intends to provide an updated prospect inventory and consequential work programme in the first first quarter of 2013.
New Chief Executive Larry Bottomley, said Chariot's strategy remained centred around "creating transformational growth through the discovery and development of new hydrocarbon provinces".
On Thursday the business announced resignation of Chief Executive Officer (CEO) Paul Welch along with a board shake-up.
Welch will leave to pursue other business interests.
Meanwhile, Mark Reid has been appointed Chief Financial Officer, bringing more than 20 years of experience in financial services and investment banking including his previous work at Aurelian Oil & Gas Plc and BNP Paribas Fortis.
MM
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Rightmove: Asking prices rise by 0.3%, but increase is lower than typical for October
October saw asking prices grow by £1,165 on average, Rightmove says, but the increase is far below the usual autumn bump as the property market braces for next month’s Budget.
-
Albert Einstein's first violin sells for £860,000 at auction
Albert Einstein left his first violin behind as he escaped Nazi Germany. Last week, it became the most expensive instrument not owned by a concert violinist