Chariot Share Discussion Threads

[hedgebetter] 22/10/2012 15:42

Interesting - with some snippets on Tapir as well... :-)

[sea7] 22/10/2012 12:13

Petro viking moving into the neighbourhood.

Their presentation:-



Their primary target block is 1710 and secondary is 1810

I expect most people know of their move to this area already. A decent read if you haven't seen it

[fairenough11] 22/10/2012 11:38

Note to MMs/Market,

I am more than happy buying into all Char's assets/Blocs at NIL cost.

Unbelievable imo.

[hedgebetter] 22/10/2012 08:27

Interesting. Once more RNS's start coming out it will be more difficult for the MMs' to play their games and they will go with the order flow....

[triples] 21/10/2012 22:59

Have a read of post 4061 if you want to see some small scale DMA tricks:



Now, if one PI with DMA can do this stuff, one wonders what some well financed groups could achieve with a share such a Chariot.

[hedgebetter] 21/10/2012 22:38

Having reviewed the price action for the last month I can only conclude that this is a MM/big boy accumulation strategy. E.g If I occasionally sell say 100K to myself in the hope that it drops the price and results in shaking out say 300k of shares which I pick up cheaply for myself then I will be a happy chappy. So we have now had a relative flat line for a month which is only now starting to shift upwards and those who have accumulated significant shareholdings will be more than happy comforted by the cash cushion and no debt.

As for the market valuation on its acreage - that's because the market is not pricing in the drilling that will ultimately take place - only because its beyond joe blogs time horizon. But when farm-in's come along - as is the strategy - then I expect PI's to fall back in love with Chariot and upward momentum to return.

Oil exploration is the only real opportunity there is for fundamentals to change over night and give massive multiples in terms of returns. As far as oilers go, this would appear to be a really good punt. I keep accumulating!

[triples] 20/10/2012 12:29

I have just had a look at Pipk's posting history and seen this post from 11th Sept 2012, again on the Serica board of LSE:

Word is Seismic Equip & 'Interprutation' [sik] Technology they are using on Serica's Block is more advanced than that available / used by Char....better in narrowing the target(s)....advised geology looks very similar to Brazil... add posibillity of 'horizontal drilling' being employed 'targets more than one area' into the equation and prospects of encountering hydro carbons are enhanced 'should they decide to drill'. With knowledge BP has from Namibia it bodes well for the future. Others in the vicinity are begining to watch very carefully....see Cairn, Tullow and a.n.other now joinging forces in S.A.

[triples] 20/10/2012 12:23

An interesting post (dated today) by Pipk on Serica board on LSE:

Advised BP Angola have had logistics people down to Walvis Bay again from Luanda....seems they are still checking out Logistics Base / Facilities in area....might be an indication of a drilling campaign being planned late 2013 / 2014.....worth watching as any move here may indicate the start of the exploration program.....Just needs materials (Mud, Cement & Casing) shipped into Namibia and a slot in the Angolan drilling program and they could spud very quickly. Little word on seismic though other than it was ''interesting'' and quality of data was v. good.

[fairenough11] 19/10/2012 19:20

wow--from iii cheers--Tapir?--Sclum report

17:15
Extra 300m...
Tarles
1
Now we know why we Petrobras didn't drill to specified depth...


Offshore Namibia, Drilling & Measurements seismicVISION* seismic-while-drilling technology helped Chariot Oil & Gas position a deviated exploration well in the reservoir, without additional rig time, by using real-time checkshot data to track drillbit position on the seismic section and change the planned well path to penetrate the required reservoir targets. The workflow was enabled by Schlumberger Petrel* E&P software and the InterACT* data delivery system. In addition, vertical seismic profile images from the seismicVISION service covering more than 300 m ahead of the bit confirmed the depth of key formation tops and provided confidence in having penetrated all required reservoir horizons. This eliminated the need to run 9 5/8-in casing, for a significant well cost saving.
===============================================================================

[kmann] 19/10/2012 17:22

Triples, heard of the "buys as sells" phenomenon mentioned many times, but never whitnessed it before (like ball lightning). Always thought it was a rampers ploy. A bit of dyor put me right.

fairenough11, hope namibia comes good but Morocco is the main intrest for me, Genel will also be exploring further south, and they seem VERY clued up and confident in that region.

As for the NAV, it means nothing if it stays in the bank. Value from the drill bit... as they say

[triples] 19/10/2012 16:24

kMann

For someone that has been registered on advfn since 2005, I would have thought you'd have cracked that one by now.

[fairenough11] 19/10/2012 16:23

Kmann,

was your dad bamba gascoine?

Hard to tell which are buys/sells.They are all trades.

Namibia is hot,don't let dusters fool you.Just remember Cairn,

DUSTER---DUSTER---BUY Shells WI FOR A SONG-----Bingo,Massive Field discovered.

In O&G things are not always as they first appear.

[kmann] 19/10/2012 16:19

Why are buys listing as sells on advfn trades???

[triples] 19/10/2012 11:44

Quite a few companies (eg, HRT, BP/Serica, ECO) will almost certainly give Namibia another shot hopefully before CHAR drills there again.

[kmann] 19/10/2012 11:34

Hi, is namibia a dead duck, or are they going to give it one last shot?

[lanaken] 19/10/2012 09:54

These boys have their backers and it's just a question of how far they take the baton round the track until the big boys take part in the relay and then take over the whole show. They have got some wonderful acreage and partners who want a piece of all of it.

There'll be farmouts from HRT and from CHAR. The drillbit will then takeover.

repo

[fairenough11] 19/10/2012 07:59

3,500 km(2) 3D


Not a small area is it.

They mean business and Yes it looks as though Farm Outs are in the air.

Watch this space.

[triples] 19/10/2012 07:55

From Bonus on LSE:



Possible farm-out in Namibia takes HRT for shares up more than 5%

SAO PAULO - Shares of HRT (HRTP3) rebounded strongly in trading this Thursday (18), amid expectations of farm-out involving certain assets in Namibia, negative days in the Brazilian market. At 16h11 (GMT), the company's shares advancing 5.84% to R $ 5.62, while the Bovespa Index retreated 0.93% to 59,531 points.
At the high of the day, the papers HRTP3 hit a low of U.S. $ 5.69, with appreciation of 7.16%. Also impressed with the financial volume traded assets, reaching R $ 49.8 million for an hour of the close of trading, while the average of the last 21 trading sessions is $ 26 million.

The movement should be a reflection of the disclosure of the minutes of the last meeting of the board of the company, evaluates Roberto Altenhofen, Empiricus Research. She was then provided information on the progress of the company's activities, such as activities related to the company's assets in Namibia and exploration company in the Solimoes Basin.
In a statement, the company said: "The council decided unanimously to authorize the company to continue with negotiations and, if necessary, complete the farm out transaction involving certain assets in Namibia, under the proposal discussed." According Altenhofen, this may be fueling expectations of investors regarding farm out (process of partial or total sale of concession rights held by an oil company), which had been relegated to the background since recent advances in Solimões and frustrations with well drilling the Chariot, Petrobras (PETR3; PETR4) and BP in Nimrod.
New time?
Remember that since last Monday the roles of the company accumulate gains 25.34%, still motivated by the announcement that the subsidiary HRT O & G Exploration and Production of Oil partnered with Petrobras and Brazil TNK-Exploration and Production of Oil and Natural Gas, with the intention of monetizing gas Solimões Basin.

[sos100] 19/10/2012 07:52

see this climbing back to 40p +

[triples] 19/10/2012 07:52

No mention of farming out any of C19 to Fugro-Geoteam. So it looks like the 3D will be paid for directly by Chariot.

Given the prospectivity of the licence and that Tullow further south believe that the north, ie, towards C19, is more prone to oil, then having 90% of this 12,500km(2) licence with 3,500 km(2) 3D shot on 'tertiary and cretaceous' plays will be a great position for a farm-out.

Makes me think that a farm-out of some kind is coming along in Namibia (with back costs paid) so that funding the C10 seismic won't cause too much of a cash problem.

[stockriser] 19/10/2012 07:23

Something to look forward to, just remember the markets also look forward ;-)

Chariot Oil & Gas Ld Offshore Mauritania 3D Contract
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TIDMCHAR
RNS Number : 0462P
Chariot Oil & Gas Ld
19 October 2012
19 October 2012
Chariot Oil & Gas Limited
("Chariot", the "Company" or the "Group")

3D seismic programme contract signed for Block C19, offshore Mauritania

Chariot Oil & Gas Limited (AIM: CHAR), the independent Africa focused oil and gas exploration company, is pleased to announce that it has signed a contract for acquisition of a 3,500km(2) 3D seismic survey in Block C19 offshore Mauritania. The Company has contracted Fugro-Geoteam AS to carry out the programme in water depths ranging from 30m to 2,000m. The programme is expected to commence on 15 November 2012 and the acquisition is anticipated to take approximately 90 days to complete.

Block C19, in which Chariot holds a 90% stake, is located in the Central Atlantic Margin, offshore Mauritania. The 3D survey will cover the southern portion of the block containing an extension of both Tertiary and Cretaceous age deep marine sandstone plays. These plays are anticipated to be charged by the same prolific mid Cretaceous age source rocks proven effective by fields and discoveries in adjacent acreage. The 3D survey is intended to identify both structural and stratigraphic traps with the latter offering potential for large trap sizes.

By carrying out this 3D seismic survey, Chariot will be fulfilling its work commitments for the initial three year period within Block C19. Once acquired, processed and interpreted, the Company will report its results in the form of both volume potential and prospect identification. From this, it is expected that a number of prospects would then be matured and tested in a subsequent exploration phase.

Paul Welch, CEO of Chariot, commented:
"Chariot continues its aggressive exploration programme within its broadening West African portfolio. This 3D seismic acquisition campaign will enable the Company to mature the subsurface potential of Block C19 and create a portfolio of prospects in our Mauritanian acreage. I look forward to reporting on the results of this activity in the second half of 2013."