- Africa-focused oil and gas explorer Chariot Oil & Gas had a very productive year and achieved many of its goals.

Chief executive Paul Welch said that during the financial year, it raised equity funding to ensure that it is well equipped to pursue its aggressive exploration programme; attracted two new joint venture partners, BP and PGS, and continued the development of its highly prospective exploration portfolio.

He added: "Post period end, we completed the 3D seismic exploration programme on our Central Blocks, commenced our drilling programme, raised some additional equity and broadened our African footprint with the addition of new acreage in Mauritania.

"The company has a strong current cash position of approximately $135m and we anticipate that following the payment of all costs on the Tapir South exploration well, this cash balance will be circa $100m."

At 8:39am: (LON:CHAR) share price was +4.63p at 76.88p

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