Chariot’s interims represent something of a line in the sand for the new management team, with historic oil-focussed deepwater exploration spend written-off, demonstrating its recent corporate and strategic ‘reboot’, which has ushered in a more entrepreneurial approach. Strategy has shifted away from higher-risk frontier exploration in favour of opportunities that better fit the energy transition. With the annual cash burn cut 45% to US$2.5m, no remaining work commitments an
29 Sep 2020
Chariot Oil & Gas - Exploration write-off signals intent
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Chariot Oil & Gas - Exploration write-off signals intent
Chariot Limited (CHAR:LON) | 8.9 0 0.0% | Mkt Cap: 94.7m
- Published:
29 Sep 2020 -
Author:
Jonathan Wright -
Pages:
9
Chariot’s interims represent something of a line in the sand for the new management team, with historic oil-focussed deepwater exploration spend written-off, demonstrating its recent corporate and strategic ‘reboot’, which has ushered in a more entrepreneurial approach. Strategy has shifted away from higher-risk frontier exploration in favour of opportunities that better fit the energy transition. With the annual cash burn cut 45% to US$2.5m, no remaining work commitments an