No surprises in Chariot’s FY19 results, which reiterate the strength of its balance sheet and its ability to ride out the coronavirus for a considerable time if necessary. Year-end cash stood at US$9.6m, or 2p/sh, equivalent to almost the entire market cap. Understandably in the current environment, there is little appetite for unfunded oil exploration. However, with a material and increasingly ‘shovel-ready’ gas discovery in Morocco, Chariot has an asset that should be appe
17 Jun 2020
Chariot Oil & Gas - 2019 results – primed
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Chariot Oil & Gas - 2019 results – primed
Chariot Limited (CHAR:LON) | 8.9 0 (-2.6%) | Mkt Cap: 94.7m
- Published:
17 Jun 2020 -
Author:
Jonathan Wright -
Pages:
11
No surprises in Chariot’s FY19 results, which reiterate the strength of its balance sheet and its ability to ride out the coronavirus for a considerable time if necessary. Year-end cash stood at US$9.6m, or 2p/sh, equivalent to almost the entire market cap. Understandably in the current environment, there is little appetite for unfunded oil exploration. However, with a material and increasingly ‘shovel-ready’ gas discovery in Morocco, Chariot has an asset that should be appe