Chariot said it will split the funds equally to pursue each venture.
The company said the fundraising will also result in greater flexibility in partnering negotiations and will provide further optionality in executing its forward work programmes.
"Whilst our cash balance remains strong, the proposed fundraising will improve our liquidity, allowing us to continue to accelerate our planned work programmes, pursue a new venture opportunity and create value over the longer term," Chief Executive
"As a result of our work to date, the company has built up a large scale, high impact portfolio with a solid platform for growth and exposure to a pipeline of drilling activity over the coming years."
The final offering price and total number of placing shares to be sold pursuant to the placing will be determined in the context of the market with final terms to be determined following the completion of the book-building process,
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