Chariot Limited (LSE:CHAR) has signed a framework agreement with Etu Energias and BW Energy to provide operational and technical support in connection with Etu Energias’ acquisition of additional interests in offshore Angola Blocks 14 and 14K.

Under the arrangement, Chariot will receive economic exposure equivalent to approximately 4,000 barrels of oil per day. The company has indicated a net present value of more than $100 million for this exposure based on an oil price of $60 per barrel.

The transaction increases Chariot’s economic exposure to oil production in Angola and extends its existing partnership with Etu Energias and Shell’s trading arm.

Blocks 14 and 14K produce about 42,000 barrels per day

Blocks 14 and 14K are producing offshore oil assets in Angola. Together, the blocks currently produce approximately 42,000 barrels of oil per day and have estimated remaining reserves of 93 million barrels.

The licences extend into the 2030s, according to the information provided.

BW Energy will be involved in the partnership alongside Etu Energias and Chariot. The arrangement also provides exposure to potential future developments associated with the blocks using existing infrastructure.

Chariot increases focus on producing upstream assets

Chariot said the transaction is consistent with its strategy of increasing its exposure to producing assets and associated revenues, with the company expecting the interests to generate cash flows over the medium term.

Chariot Limited is an Africa-focused energy group operating across upstream oil and gas and renewable power.

Its upstream business has assets in Angola and Morocco and is focused on securing production. The company’s renewable activities include power projects in South Africa and green hydrogen development in Mauritania. Chariot plans to monetise its renewable interests to support further expansion of its upstream operations.

East Star Resources (LSE:EST) has signed a binding heads of agreement with Nova to establish a joint venture covering the Rulikha copper project in East Kazakhstan.

Under the proposed structure, Nova will be able to earn an interest of up to 75% or 65% in the project through a series of staged milestones, while East Star will retain an interest of at least 25%.

Local mine developer Orion has been appointed as operator of the project. The arrangement is structured so that Nova and Orion will fund the work required to advance Rulikha, allowing East Star to retain an interest without providing further funding for those activities.

Nova and Orion to fund development work

Nova and Orion will fund resource drilling, feasibility studies, permitting and construction at Rulikha at no additional cost to East Star.

The two companies previously developed the Karshyga and Kamkor copper mines, which subsequently entered profitable operations.

East Star said the joint venture structure will allow it to direct its own capital towards exploration activities and its other ventures, including its joint venture with Endeavour Mining.

Rulikha drilling programme planned for Q3 and Q4 2026

East Star has also received drilling approval for the principal Rulikha licence area. A drilling programme is planned for the third and fourth quarters of 2026.

The programme will form part of the work to advance the project through resource definition and subsequent development stages under the joint venture arrangement.

East Star Resources is a London-listed gold and copper exploration and development company focused on Kazakhstan. Its activities target volcanogenic massive sulphide and polymetallic deposits.

The company’s portfolio of copper assets in East Kazakhstan also includes the Verkhuba-Xinhai joint venture, with East Star using partnerships with local operators to advance projects through exploration and development.

Europa Oil & Gas (LSE:EOG) has extended the longstop date for completing the farm-out of a 40% interest in the EG-08 production sharing contract offshore Equatorial Guinea to Fuhai.

The deadline has been moved to 30 September 2026 by mutual agreement as Fuhai continues to seek Chinese outbound investment approval required for the transaction.

According to Europa, the approval process has taken longer than expected following the introduction of new regulations in China.

Chinese outbound investment approval remains pending

The farm-out has already received approval from Equatorial Guinea’s Ministry for Mining and Hydrocarbons.

In China, Fuhai’s Outbound Direct Investment application remains under consideration by the Beijing Municipal Development and Reform Commission. Europa said the commission has indicated that it expects approval to be granted in the near term.

Completion of the transaction remains subject to the outstanding Chinese approval process.

Barracuda-1 well targeted for early 2027

Europa reiterated its intention to drill the Barracuda-1 exploration well on the EG-08 block at the earliest opportunity, with drilling currently targeted for early 2027.

Europa Oil & Gas (Holdings) plc is an AIM-quoted exploration, development and production company with oil and gas assets in West Africa, the UK and Ireland.

The group holds a 42.9% equity interest in Antler Global Limited, which operates the EG-08 production sharing contract offshore Equatorial Guinea alongside national oil company GEPetrol and farm-in partner Fuhai.

Finseta plc (LSE:FIN) said first-half 2026 revenue is expected to be approximately £5.4 million, compared with £5.9 million in the same period a year earlier, as macroeconomic conditions affected customer demand and extended sales cycles.

Active customer numbers increased to 1,389 during the period. The company continued to shift its business towards business-to-business customers, with corporate accounts representing 74% of revenue.

Finseta expects its gross margin for the first half to be approximately 66%. However, the change in customer mix, planned strategic investment, disruption related to conflict in Dubai and the withdrawal of a currency corridor contributed to an adjusted EBITDA loss for the period.

The company now expects full-year 2026 revenue of approximately £11 million.

Dubai revenue increases as regional disruption affects activity

Finseta reported that revenue from its Dubai operations increased 243% year on year. However, the company said regional conflict constrained activity during the period, resulting in the operation making a lower contribution than internally forecast.

Management said it is maintaining cost discipline as the group continues its strategic transition.

Finseta expects the proportion of revenue generated from corporate customers to increase further during the second half, which management expects to result in an additional improvement in gross margin.

The company is also seeking to replace the provider of a withdrawn currency corridor and expects to restore the affected capabilities through a new provider during the fourth quarter.

Finseta continues transition towards corporate customers

Finseta said its strategic transition is taking longer than originally planned as it increases its focus on corporate customers.

The London-headquartered company provides foreign exchange and payment services, including multi-currency accounts and cross-border payment solutions for businesses and individuals.

Finseta operates a proprietary technology platform and supports payments in more than 150 currencies across over 165 countries. The company operates under regulatory oversight in the UK, Canada and Dubai.

Oxford Metrics (LSE:OMG) has acquired Manchester-based Captive Devices, a developer of professional head-mounted camera systems and software for markerless facial performance capture.

The transaction is valued at up to £750,000 and will be funded through a combination of existing resources and new shares. Oxford Metrics will acquire the entire share capital of Captive Devices without taking on additional debt.

As part of the transaction, the founding team of Captive Devices will join Oxford Metrics’ Vicon business.

Acquisition adds facial capture technology to Vicon platform

Captive Devices develops technology used for facial performance capture in visual effects, gaming and virtual production. Its systems include integration with Unreal Engine.

The acquisition expands Vicon’s motion capture offering beyond body tracking by adding integrated facial capture capabilities alongside its existing marker-based, markerless and hybrid technologies.

Oxford Metrics plans to make Captive Devices’ technology available through Vicon’s international sales channels and existing customer relationships. The company aims to broaden the market for its products, increase sales of facial capture systems and continue developing its end-to-end capture platform.

Oxford Metrics serves customers in more than 70 countries

Oxford Metrics provides smart sensing and measurement technologies across the life sciences, entertainment, engineering and manufacturing markets.

Through its Vicon motion capture division and Industrial Vision and Metrology Systems business, the group supplies motion measurement and machine vision solutions to thousands of customers across more than 70 countries.

Croma Security Solutions Group (LSE:CSSG) has acquired A. Butler & Sons, which trades as William Channon, in a cash transaction estimated at £1 million and funded from the group’s existing resources.

The acquisition gives Croma a permanent presence in London and adds William Channon’s commercial locksmith and access control operations to its existing security services network.

William Channon recorded £1.1 million turnover in 2025

Based in Holborn and founded in 1917, William Channon serves commercial customers including museums and universities.

The business generated unaudited turnover of £1.1 million in 2025 and recorded a small pre-tax loss. Its net assets were broadly in line with the estimated £1 million purchase price.

William Channon’s managing director will remain involved for a short transition period on a consultancy basis.

Croma plans to restructure the acquired business and said it sees opportunities for cost synergies and for offering additional security services to William Channon’s existing and larger corporate customers.

Acquisition expands Croma’s London operations

The transaction forms part of Croma’s acquisition strategy following the sale of its man guarding business in 2023. The company has been acquiring and integrating locksmith businesses as it develops a national network of security centres.

The William Channon acquisition provides Croma with a base in the London market while adding an established commercial customer portfolio to the group.

Croma Security Solutions Group provides locksmith, fire and security services to domestic and commercial customers. The AIM-listed company is headquartered in Southampton and operates security centres serving sectors including health, education, leisure, entertainment and utilities.

The Permian Basin is entering a multi-year period of natural gas infrastructure expansion that could address longstanding transportation constraints while supporting continued production growth, according to Citi.

Unlike previous investment cycles, the bank believes the latest wave of infrastructure spending is being underpinned by structural demand growth. Expanding U.S. LNG exports and rising power requirements from AI data centers are encouraging companies to commit to new capacity earlier and at greater scale.

Citi expects these trends to eventually make the Permian the largest natural gas-producing basin in the U.S., complementing its existing position as the country’s leading source of crude oil.

Pipeline expansion could improve Waha pricing

Four recently announced infrastructure projects represent an inflection point for the Permian gas market, according to Citi.

Combined with capacity additions already underway and the expected acceleration in U.S. LNG exports, the new projects could help narrow Waha Hub price differentials and improve the economics of oil-focused drilling through 2030.

Permian natural gas production expanded substantially over recent years, rising from 17.2 billion cubic feet per day in 2021 to an estimated 27.6 bcf/d in 2025.

Pipeline capacity did not increase quickly enough to absorb that additional output, contributing to pricing disruptions at Waha during 2024 and 2025. The imbalance became even more pronounced during the first half of 2026.

AI electricity demand adds another source of gas consumption

Growing LNG exports are expected to provide an increasingly important source of demand for U.S. natural gas through the remainder of the decade.

Domestic electricity consumption could also play a larger role. The U.S. Energy Information Administration’s August 2026 Short-Term Energy Outlook forecasts that natural gas consumption by the power sector will reach a record 46.1 bcf/d during summer 2027.

That would be approximately 6% above consumption levels during the summers of both 2025 and 2026.

The trend is particularly significant in Texas. Natural gas-fired generation within ERCOT is projected to increase by roughly 22% between summer 2025 and summer 2027, with data center-related electricity demand accounting for much of the expected growth.

Texas regulators recently paused new interconnection approvals, however, leading the EIA to lower its 2027 projection.

Producers look to secure long-term takeaway capacity

Citi expects exploration and production companies operating in the Permian to take a more active role in securing access to pipeline infrastructure.

Strategies could include taking equity stakes in pipelines and entering long-term agreements that guarantee transportation capacity.

The bank pointed to Devon Energy and Diamondback Energy (NASDAQ:FANG) through Solitude, along with Exxon Mobil’s relationship with Targa Resources, as examples of producers seeking greater control over their gas transportation requirements.

Such arrangements could become increasingly important as associated gas production rises alongside continued oil drilling.

Storage data suggests tighter gas market

Gas-focused exploration and production stocks have risen around 4.4% over the past month, even as forward natural gas strip prices have remained broadly unchanged and prompt-month prices continue to trade at depressed levels.

Citi’s storage model provides another indication that underlying supply-and-demand conditions could be somewhat tighter than headline pricing suggests.

Actual inventory additions have consistently undershot the bank’s forecasts over the past month, with the difference averaging approximately 1.6 bcf/d.