Chariot Share Discussion Threads

[stockriser] 28/11/2012 21:23

Hedge

Re: pictures - Lots of ways but I usually get the picture up on my screen and capture it using windows 'snipping tool' - then upload the picture up to my photobucket account - once on there photobucket gives you an HTML code which you copy and paste into the this BB. Sounds difficult, but once you're used to it, it only takes about 1min to do.

GL SR

[ronan7] 28/11/2012 18:52

as you say spreads the cost no need to pay 4 it all if its not neccessary

[triples] 28/11/2012 18:13

HB,

Very good news indeed.

At 1min 25sec, PW states that the data room is open for partners to participate in Chariot's 3D !!!

3,500km2 of 3D ain't cheap and here is PW saying that Chariot are looking for a partner (ie, to share a chunk of that cost for a % of the licence). And he goes on to say that there is lots of interest.

I suppose the bit to ponder on is whether Chariot would get a better farm out deal once they have shot and interpreted the 3D. But from a risk mitigation and cash flow point of view, then doing it this way round is very prudent management.

This sounds like a LB initiative to me.

[hedgebetter] 28/11/2012 17:20

Sure is. Also



DATA ROOM now open for Mauritania...:-) Fantastic news.

p.s how do you incorporate pictures?

[stockriser] 28/11/2012 13:33

Hedge, thanks for the link - so lots to look forward to ;-)

[hedgebetter] 28/11/2012 10:32

Nice factsheet....

Salpara111. Depends on how you trade. Good luck with yours.

[triples] 28/11/2012 10:05

No problem, Salpara. It's just a bit hard work here at the moment. Atb.

[salpara111] 28/11/2012 10:01

I was just trying to give the view from a prospective investors point of view.
If you look at the share price graph since the company listed you can see that periods of rising share price happen gradually while declines tend to happen in violent lurches. The lesson from this is that while you might miss the first 20% of a new uptrend there is usually the opportunity to get on board and still make a good gain.
Sorry if that sounds negative but I was just giving a view "from the other side" as it were.

[triples] 28/11/2012 09:30

Well, that's comfort for all the holders here...

[salpara111] 28/11/2012 09:12

I have been watching this since the recent capitulation but have not invested.
When you play exploration stocks you are effectively betting on binary events....high risk/high reward.
From what I have read there is little probability of any significant news until next year and given that the share price will continue to drift until then I am using my capital elsewhere.
I also want to see what the cash position/cash burn rate is at present. The last thing anyone wants is for them to have to tap the market at the current share price
I fully accept that I might miss the boat but in my experience of investing I seem to be disappointed more often than I am pleasantly surprised!

[ronan7] 28/11/2012 08:57

has any one got up to date figures on the current cash position-or an educated guess-for this company

[hub here] 28/11/2012 08:33

I am afraid that the appointment of another broker almost certainly means an equity placing in January and more dilution.

[triples] 28/11/2012 08:23

HB, We all know that's very sound advice, but this slow grinding down is testing the patience of many PIs.

We are still seeing a few O trade capitulations. I guess these PIs believe they can make their money work harder elsewhere. Personally, I will just keep hold of the shares I have as I reckon there will be news or activity in early 2013.

[hedgebetter] 28/11/2012 08:09

This share is worth many multiples. Patience.

[ronan7] 27/11/2012 19:35

i`d take 67.5% rise on last 3 months from the middle of december

[triples] 27/11/2012 17:18

From ENK offer RNS of 8th Aug 2012:

-- Under the terms of the Offer, ENK Shareholders will be entitled to receive 19.0 pence in cash for each Ordinary Share.

-- The Offer values the existing issued share capital of ENK at GBP49.8 million.
-- On the basis of current exchange rates, the Offer is equivalent to A$0.28 per Ordinary Share and values the existing issued share capital of ENK at A$73.8 million.

-- The Offer represents a premium of approximately:
o 38.2 per cent. to 13.75 pence (A$0.204), being the closing mid-market price per Ordinary Share on 26 July 2012 (the last Business Day prior to the date of the announcement by ENK that it had received an approach regarding a possible offer); and

o 67.5 per cent. to 11.35 pence (A$0.168), being the volume weighted average price per Ordinary Share for the three months prior to the date of ENK's announcement that it had received an approach regarding a possible offer.

[waleswillwin] 27/11/2012 17:07

Recently I had the misfortune to suffer from the takeover of ENK, some people maybe aware of that particular debacle and how it was engineered.
Char has a lot of similarities.
At ENK a not entirely surprise bid came in from a group of large shareholders who had quietly collectively ammassed some 40 plus %. The level of their bid was however very painful as it was only slightly over the then share price.
With the massive turnover of shares of recent and the lack of many purchasing RNS's a repeat here could possibly be on the cards.
There are several major shareholders in strong positions, does anyone know wether there is anything to prevent them acting collectively and taking the comany private at a low offer.
I appreciate that people can buy and sell what they like but are there any potential conflicts within the major shareholders to stop them acting in concert so that they woud be unable to carry out a cheap buyout.
Ps I appreciate my name may not be currently accurate but one day it might.

[ronan7] 27/11/2012 16:56

yep seemed that way

sat and flat

[triples] 27/11/2012 15:39

It's a pity seeing PIs getting squeezed out at these prices. The shareprice today was well and truly sat on.

[lanaken] 27/11/2012 15:21

FWIW, The boys in Brasil seem to be coming to the same sort of conclusion that the 14% is worth the cost of one well. $75-80m.



Not too bad really.

The risked mean return on Galp's money is $2400m according to my caculations.

Say 2bn, 3bn and 3bn bbl to make up their 8bn bbl estimate with 25% CoS and $8-10 per bbl.

No wonder they said the costs were insignificant.

repo

[lanaken] 27/11/2012 15:21

FWIW, The boys in Brasil seem to be coming to the same sort of conclusion that the 14% is worth the cost of one well. $75-80m.



Not too bad really.

The risked mean return on Galp's money is $2400m according to my caculations.

Say 2bn, 3bn and 3bn bbl to make up their 8bn bbl estimate with 25% CoS and $8-10 per bbl.

No wonder they said the costs were insignificant.

Of course CHAR's latest presentation says that they have 10.7 bn bbl prospective resources net to them and not 14% of 8bn bbl. Even allowing for the fact that the Galp estimates are for the three biggest prospects I would think that Char's Namibian acreage is worth at least 5 times the $65-80m Galp paid for their slice of Namibia which is a quid a share plus cash.

DYOR, though.

repo

[triples] 27/11/2012 14:29

repo,

If someone wants to bid £1/shr for Chariot before HRT spud, then I would very happy.

[fairenough11] 27/11/2012 13:31

Jimmy states he wants other people to check his figures.