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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Chariot Limited | CHAR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.035 | 1.98% | 1.804 | 16:35:19 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.65 | 1.65 | 1.65 | 1.804 | 1.769 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 04/12/2024 15:27 by ohdearohdearohdear I agree that Jimmy is a paid mouthpiece of Char. I wonder if his salary is also inversely related to the shareprice, just as it is for the BoD?There is no positive news to come here for many months, if not the whole of 2025. The next news (Q1 2025) will be to confirm ENOG are pulling the plug and Chariot will go it alone on the much, much reduced project. Trouble is..........how are they going to raise all of that cash that is required to go it alone(rhetorical question obvs.)? |
Posted at 18/11/2024 10:17 by bones698 I agree I think they will just sit and wait knowing char are in trouble financially and out waiting them m the stunning silence and lack of an update seems to point to enog not wanting to play ball now . If they feel they were sold a lemon I doubt they will be any mod to do char any favours whatsoever . Char needs to sell the none oils and gas assets imo for whatever they can get for them and focus on trying to retrieve the situation in Morocco |
Posted at 24/9/2024 14:45 by pwhite73 James - "Enog also silent. Why?"ENOG is the 45% operator. CHAR 30%, ONHYM 25%. If anybody should have issued the RNS it should have been ENOG. However ENOG is a £1.6 billion company so one failed drill project has no effect on them or their share price, they have many irons in the fire. CHAR is a much smaller company Anchois was their only near term commercial project. I am only speculating here but I think there is an agreement between the two companies that ENOG will STFU until such times as CHAR are ready to tell the markets Anchois 1 and 2 will also be abandoned. |
Posted at 22/9/2024 23:33 by billthebank ONLY JUST HAD A PLACING!!! AND CHAR IS NOT JUST ABOUT ANCHOISPlacing was oversubscribed and co raised £9M Co is pres valued at double that.CHAR is not a one trip pony!!! The net proceeds of the Fundraising will be used as follows in order to: o Strengthen the balance sheet to continue to progress and deliver value from Chariot's portfolio of projects o Secure a material new venture opportunity with multi-billion barrel potential o Progress onshore gas commercialisation plans in Morocco to build a gas to industry supply ยท As well as securing the new venture opportunity, other key near term catalysts include the offshore drilling and testing of the Anchois-East well in partnership with Energean which is expected to commence mid-August 2024 with the objective to unlock a final investment decision ("FID") on the development, and a flow test on the gas discovery in the onshore Loukos licence, also planned |
Posted at 13/8/2024 07:47 by 888icb General meeting to approve the issuing of the new shares is at 11am this morning. CHAR currently Up at 7p. Yesterday a broker issued a new target price:“ Chariot Ltd (AIM:CHAR, OTC:OIGLF) was reaffirmed as a buy stock from Panmure Liberum on Monday with an adjusted price target of 32p from the previous 39 pence. This revision reflects the dilution following Chariot's recent $9 million fundraising rounds through a placing and open offer. Despite the reduced target, Panmure Liberum remains optimistic about Chariot's prospects, particularly in its Moroccan gas assets. The brokerage highlighted the strong potential of the Anchois project within Chariot's portfolio, suggesting that current market pricing underestimates the project's value.” So that’s nearly a 5 bagger from the current share price |
Posted at 20/5/2024 06:38 by sev22 An African gas play with multi-bagger potential.Shares trade on a 75 per cent discount to analysts’ sum-of-the-parts valuations even though drilling success could release huge value for shareholders. May 16, 2024 by Simon Thompson *Potential for drilling success on second onshore well *Analysts target prices of 50p and 57.7p Chariot (CHAR:7.1p), the Africa-focused transitional energy group, has announced results from the first well of a two-well drilling programme on the Loukos Onshore licence in Morocco. Although the reservoirs at the Gaufrette prospect did not deliver a material gas accumulation and are therefore deemed uneconomic, the presence of gas and reservoir quality are positive for future exploration in the area. Importantly, it’s not material to the investment case. Analysts at Auctus Advisors had only embedded a risked net asset value (NAV) of 2p a share in their financial models. The rig will now move onto the Dartois target, which is fully independent of the Gaufrette prospect. Analyst James McCormack at broker Cavendish believes that success at Dartois has the potential to unlock a trend prospect within a P50 resource of 20bn cubic feet of gas. He values the gas on the Loukos licence at $4-$5 per million cubic feet (mcf) on a gross unrisked basis, meaning that success at Dartois could be worth $80mn-$100mn (£63mn-£79mn). Chariot has a market capitalisation of £76mn. Potential for Dartois to deliver immediate returns. Bearing this in mind, McCormack notes that the Loukos licence is located near existing infrastructure and the industrial offtake market, where Chariot has the potential to rapidly monetise production. A successful gas discovery could be brought on stream in early 2025. The industrial gas market close to the Loukos licence is significant and undersupplied, too, which means that production could demand gas prices of $16 per mcf, amongst the highest globally, says McCormack. This, combined with a highly attractive fiscal regime (25 per cent government take), makes for a highly economic project. Both Auctus and Cavendish are leaving their 50p and 57p target price unchanged, or more than seven times the current share price. Auctus also has a sum-of-the-parts valuation of 28p a share, or four times Chariot’s current share price. Accounting for 42p of Auctus’ core net asset value, the largest component of the valuation relates to the company’s flagship Anchois gas project. I highlighted the methodology behind the Anchois valuation after Chariot announced a farm-out with Energean ( ENOG), a FTSE 250 company that has a proven track record of successfully developing large offshore gas projects (‘Chariot̵ So, with the current share price significantly undervaluing Chariot’s retained interest in Anchois, and ignoring any potential for success at Dartois, I now rate the shares a buy again. |
Posted at 08/4/2024 16:26 by 888icb CHAR remains on MALCY’s Bucket listFrom Malcy’s Blog today: Chariot “ Firstly today apologies, in the Bucket List on Friday Chariot was omitted from the text although was tagged in the header. The piece got lost between Word and WordPress, my apologies! Chariot remains in the list as it is on the threshold of significant progress with both its operations in Morocco and has addressed the funding of the Transition Power division by way of a strategic review. Here, power and water solutions in Africa are being addressed and renewable energy generation with particular respect to South Africa, where interest has already been expressed and given differing differing funding solutions are required, that is understandable. At Loukos drilling is imminent and if successful would be fast tracked to development, at Anchois Chariot are working with Energean to progress further drilling this year. All this leaves me confident that there is substantial upside at Chariot.” |
Posted at 07/12/2023 14:13 by ashkv Simon Thompson Investor's ChronicleChariot’s transformational farm-out is underrated The fall in the company’s share price is a harsh reaction to what looks a good farm-out of its flagship gas project December 7, 2023 Energean acquires stakes in Lixus and Rissana licences Option to purchase a further 10 per cent interest Chariot’s share price falls 15 per cent on news Chariot (CHAR:11.6p), the Africa focused transitional energy group, has announced a farm-out agreement with Energean (ENOG:995p). The transaction covers its Lixus Offshore licence, which holds the company’s flagship Anchois gas development project, and the nearby Rissana offshore licence in Morocco. Energean is a £1.8bn market capitalisation FTSE 250 company that has a proven track record of successfully developing large offshore gas projects. The agreement provides funding for both Chariot and the Anchois gas project through upfront consideration, deferred consideration and potentially a full carry to first gas. There is potential to upscale the development and target further exploration prospectivity across the two licences, too. Energean is acquiring 45 per cent and 37.5 per cent interests in the Lixus and Rissana licences, respectively, to take operatorship. It reduces Chariot’s stakes to 30 per cent (Lixus) and 37.5 per cent (Rissana) with Moroccan state company National Office of Hydrocarbons and Mines maintaining a 25 per cent stake in each licence. In return, Chariot will receive $10mn on completion of the transaction; $15mn on Final Investment Decision (FID); and has an $85mn gross carry that covers its Lixus costs up to FID, including the additional Anchois well being drilled, which will have a gas flow test in 2024. Following completion of the Anchois well, Energean has the right to acquire a further 10 per cent of Chariot's equity in the Lixus licence for an $850mn gross development carry to first gas; $50mn five-year zero coupon convertible loan note with a strike price of 2,000p or by issuing 3mn Energean shares; and 7 per cent royalty payment on Energean's gas production revenues in excess of a base hurdle on the realised gas price (post transportation costs). Analyst James McCormack at house broker Cavendish values Chariot’s retained 30 per cent interest in the project at $476mn (35p) on an unrisked basis, or $310mn (23p) on a risked basis using a 65 per cent commercial chance of success. Assuming Energean exercises its option to acquire an additional 10 per cent in Lixus, Cavendish values the 20 per cent fully carried interest at $595mn (risked) or $447mn (unrisked), using a higher 75 per cent commercial chance of success (due to the lower financial risk and result of the Energean carry). This implies a valuation of 29p (risked) to 44p (unrisked). The conclusion: “ Clearly, the farm-out transaction fell short of the expectations of some investors as Chariot’s share price fell 15 per cent from 13.7p to 11.6p following the announcement. The share price is also below the 14.75p level when I assessed the farm-out possibilities (‘Chariot could soon announce a 'game-changing' deal’, 20 September 2023), albeit the holding has still delivered a 282 per cent gain in my 2017 Bargain Shares Portfolio. It’s a very harsh reaction. That’s because Cavendish’s total risked valuation per share of 57.7p for the company is not only five times the current share price, but it rises to 71p assuming Energean exercises its option to acquire a further 10 per cent stake. This highlights the value embedded in the Anchois gas project and which Energean has clearly recognised. So, although the initial reaction to the news is disappointing, expect the heavily oversold shares to bounce when the dust settles. Hold.” |
Posted at 06/2/2023 07:21 by ashkv Thank you888ICB for posting about the Investors Chronicle highly positive write-up on CHAR - the B plus B Beelzebub disciples / uber trolls (likely paid) continue to fester on this chat with their make believe malicious tropes... I have posted the full article below for reference...Please note Simon Thompson mentioning about Soc Gen.... the resident villainous evil entity conveys the bank is no longer on the project as that is what he is hearing in head...... IC are now making items up...haha Excerpt -> "Investment bank Societe Generale is leading the structuring and syndication of the project’s debt financing, while Chariot’s gas team remain in discussions with commercial partners. In the near term, newsflow from Anchois is the key share price driver. That’s because Chariot’s 75 per cent working interest in Anchois’ 2C resources accounts for 44p a share of Cenkos Securities' target price of 63p (using a 50 per cent risk weighting and based on a risked value of $507mn). Positive newsflow on debt funding and commercial offtake agreements at Anchois would de-risk the investment case and warrant a material narrowing of the share price discount to Cenkos’ target." Full Article -> Good news will boost this green energy company The Africa-focused energy firm is also a great climate change play February 3, 2023 By Simon Thompson Chariot (CHAR:16p), an Africa-focused energy group focused on developing and delivering transitional energy projects, has released a raft of positive announcements since the autumn, all of which are highly supportive of the investment case. This week’s small acquisition of ENEO Water, an African company focused on delivering clean water solutions using renewable energy, complements Chariot's Transitional Power and Green Hydrogen businesses within the context of increasing water scarcity across Africa. Desalinated water is an essential component of green hydrogen production, so the capacity to implement desalination solutions powered by renewable energy will be critical for the feasibility of green hydrogen projects. Chariot's aim is to provide affordable access to water for private offtakers and municipalities in Africa to be sold under long-term agreements, as part of its commitment to socially responsible development. ENEO utilises an efficient and scalable reverse osmosis technology that can be 100 per cent powered by solar energy to produce desalinated water. The company has a proof-of-concept project at the largest windfarm in the Republic of Djibouti under construction. Desalination solutions powered by renewable energy will be critical for Chariot’s joint venture with Total Eren to co-develop Project Nour in Mauritania. That project has the potential to deliver 10GW of electrolyser capacity, which would make it one of the most significant green hydrogen projects in Africa, and one of the lowest-cost producers, too. The future’s bright Chariot partners on solar project at platinum mine in Zimbabwe 25 per cent stake taken in a new South African electricity trading company Long-term offtake agreement in principle for low-cost Anchois Gas project Total Eren and Chariot have also agreed to work together on the development, financing, construction and operation of a solar photovoltaic (PV) project that will provide competitive electricity for the Karo Platinum Project, in Zimbabwe. It is expected to have an initial installed capacity of 30 Megawatt (MWp) peak – a unit of measurement for the output of power from a source such as solar or wind where the output may vary according to the strength of sunlight or wind speed – with a potential extension of up to 300 MWp. Construction of the Karo Platinum Mine started in July 2022 and is majority owned by Tharisa (THS), the platinum group metals and chrome producer. In addition, Chariot has taken a 25 per cent stake in a new South African electricity trading company, Etana Energy, which has been granted an electricity trading licence by the National Energy Regulator of South Africa. The country is the largest electricity market on the continent, but suffers from regular power outages due to insufficient supply. To combat this energy crisis rapid market deregulation is currently taking place, which includes selectively issuing electricity trading licences and facilitating the building of energy projects of up to 100 MW generation capacity. Etana’s objective is to deliver renewable energy solutions at competitive prices to help address the power requirements across South Africa. The trading licence is important. That’s because it opens up access to a range of high-volume off-takers (including municipal, industrial and retail customers) and gives Etana the right to buy and sell electricity on the national transmission grid and within some selected municipal areas. Electricity trading is a new revenue stream for Chariot and it should support the group’s future participation in large renewable projects in Southern Africa. An African adventure The good news doesn’t end there as Chariot has announced a long-term offtake agreement in principle for its low-cost flagship Anchois Gas development, offshore of Morocco, in which it has a 75 per cent working interest. Gas sales of up to 60mn standard cubic feet per day will be delivered through the Maghreb-Europe pipeline on a take-or-pay basis for a minimum of 10 years, thus securing direct domestic supply for Morocco's existing and potentially longer-term gas power plant infrastructure. Investment bank Societe Generale is leading the structuring and syndication of the project’s debt financing, while Chariot’s gas team remain in discussions with commercial partners. In the near term, newsflow from Anchois is the key share price driver. That’s because Chariot’s 75 per cent working interest in Anchois’ 2C resources accounts for 44p a share of Cenkos Securities' target price of 63p (using a 50 per cent risk weighting and based on a risked value of $507mn). Positive newsflow on debt funding and commercial offtake agreements at Anchois would de-risk the investment case and warrant a material narrowing of the share price discount to Cenkos’ target. Although Chariot’s share price has drifted since I last published an update five months ago (‘Profit from climate change’, 14 September 2022), the holding has still delivered a 428 per cent return in my 2017 Bargain Shares Portfolio. There is scope for significantly more capital upside. Buy. |
Posted at 05/2/2023 11:22 by ashkv Thank you for posting about the Investors Chronicle highly positive write-up on CHAR - the B plus B Uber Trolls (likely paid) continue to fester on this chat with their make believe malicious tropes... I have posted the full article below for reference...Please note Simon Thompson mentioning about Soc Gen.... the resident villainous evil entity conveys the bank is no longer on the project as that is what he is hearing in head...... IC are now making items up...haha Excerpt -> "Investment bank Societe Generale is leading the structuring and syndication of the project’s debt financing, while Chariot’s gas team remain in discussions with commercial partners. In the near term, newsflow from Anchois is the key share price driver. That’s because Chariot’s 75 per cent working interest in Anchois’ 2C resources accounts for 44p a share of Cenkos Securities' target price of 63p (using a 50 per cent risk weighting and based on a risked value of $507mn). Positive newsflow on debt funding and commercial offtake agreements at Anchois would de-risk the investment case and warrant a material narrowing of the share price discount to Cenkos’ target." Full Article -> Good news will boost this green energy company The Africa-focused energy firm is also a great climate change play February 3, 2023 By Simon Thompson Chariot (CHAR:16p), an Africa-focused energy group focused on developing and delivering transitional energy projects, has released a raft of positive announcements since the autumn, all of which are highly supportive of the investment case. This week’s small acquisition of ENEO Water, an African company focused on delivering clean water solutions using renewable energy, complements Chariot's Transitional Power and Green Hydrogen businesses within the context of increasing water scarcity across Africa. Desalinated water is an essential component of green hydrogen production, so the capacity to implement desalination solutions powered by renewable energy will be critical for the feasibility of green hydrogen projects. Chariot's aim is to provide affordable access to water for private offtakers and municipalities in Africa to be sold under long-term agreements, as part of its commitment to socially responsible development. ENEO utilises an efficient and scalable reverse osmosis technology that can be 100 per cent powered by solar energy to produce desalinated water. The company has a proof-of-concept project at the largest windfarm in the Republic of Djibouti under construction. Desalination solutions powered by renewable energy will be critical for Chariot’s joint venture with Total Eren to co-develop Project Nour in Mauritania. That project has the potential to deliver 10GW of electrolyser capacity, which would make it one of the most significant green hydrogen projects in Africa, and one of the lowest-cost producers, too. The future’s bright Chariot partners on solar project at platinum mine in Zimbabwe 25 per cent stake taken in a new South African electricity trading company Long-term offtake agreement in principle for low-cost Anchois Gas project Total Eren and Chariot have also agreed to work together on the development, financing, construction and operation of a solar photovoltaic (PV) project that will provide competitive electricity for the Karo Platinum Project, in Zimbabwe. It is expected to have an initial installed capacity of 30 Megawatt (MWp) peak – a unit of measurement for the output of power from a source such as solar or wind where the output may vary according to the strength of sunlight or wind speed – with a potential extension of up to 300 MWp. Construction of the Karo Platinum Mine started in July 2022 and is majority owned by Tharisa (THS), the platinum group metals and chrome producer. In addition, Chariot has taken a 25 per cent stake in a new South African electricity trading company, Etana Energy, which has been granted an electricity trading licence by the National Energy Regulator of South Africa. The country is the largest electricity market on the continent, but suffers from regular power outages due to insufficient supply. To combat this energy crisis rapid market deregulation is currently taking place, which includes selectively issuing electricity trading licences and facilitating the building of energy projects of up to 100 MW generation capacity. Etana’s objective is to deliver renewable energy solutions at competitive prices to help address the power requirements across South Africa. The trading licence is important. That’s because it opens up access to a range of high-volume off-takers (including municipal, industrial and retail customers) and gives Etana the right to buy and sell electricity on the national transmission grid and within some selected municipal areas. Electricity trading is a new revenue stream for Chariot and it should support the group’s future participation in large renewable projects in Southern Africa. An African adventure The good news doesn’t end there as Chariot has announced a long-term offtake agreement in principle for its low-cost flagship Anchois Gas development, offshore of Morocco, in which it has a 75 per cent working interest. Gas sales of up to 60mn standard cubic feet per day will be delivered through the Maghreb-Europe pipeline on a take-or-pay basis for a minimum of 10 years, thus securing direct domestic supply for Morocco's existing and potentially longer-term gas power plant infrastructure. Investment bank Societe Generale is leading the structuring and syndication of the project’s debt financing, while Chariot’s gas team remain in discussions with commercial partners. In the near term, newsflow from Anchois is the key share price driver. That’s because Chariot’s 75 per cent working interest in Anchois’ 2C resources accounts for 44p a share of Cenkos Securities' target price of 63p (using a 50 per cent risk weighting and based on a risked value of $507mn). Positive newsflow on debt funding and commercial offtake agreements at Anchois would de-risk the investment case and warrant a material narrowing of the share price discount to Cenkos’ target. Although Chariot’s share price has drifted since I last published an update five months ago (‘Profit from climate change’, 14 September 2022), the holding has still delivered a 428 per cent return in my 2017 Bargain Shares Portfolio. There is scope for significantly more capital upside. Buy. |
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