Chariot Share Discussion Threads

[ronan7] 18/1/2013 10:56

ty newsy

kiss of death ....thats usually me

[andonis] 18/1/2013 10:47

Get ready to short FTSE

[fairenough11] 18/1/2013 10:27

spoilsport:-)

another couple of pence and we are off to the races.

HRT still to announce their second farm in partner.They ain't got long.

[ronan7] 18/1/2013 10:08

is today the day we hold 30p

[stockriser] 18/1/2013 10:03

And there you go ;-)

I hope everyone has filled their boots!

[lanaken] 18/1/2013 09:05

greyingsurger,

First up, I like the slight change of name given to you above. Does 2013 promise a more dynamic approach as your name change suggests?

I can't disagree with what you said. Anyone who doesn't believe the board and new CEO have our best interests at heart is best selling, imv.

My attitude is thatt there are some big players who believe that there is lots of oil off West Africa, and Namibia in particular, and that the likes of Serica and Chariot have landed on some excellent acreage with some suppport from the likes of BP. Whether this potential is realised with the drill bit remains to be seen. If it is we'll see how the little guys are rewarded and there must remain some doubts about that. If the drillbit finds nothing of substance over the next few years then this punt will turn out to be a bad 'un.

The potential rewards look very high to me and I've little doubt that there will be more deals done that benefit the likes of SQZ and CHAR and expose their shreholders to some very decent additional free lottery tickets.

We'll still need some luck though;-)

repo

[stockriser] 18/1/2013 07:30

50day EMA still acting as resistance, however as mentioned earlier the share price closed at it's highest for months. I certainly agree with Alex Hawk re: bottomed/base - one little teeny weeny move north should push us through that resistance, and then ..... ;-)

[fairenough11] 18/1/2013 06:03

Triples,

IMO only in hindsight will all the pieces fit perfectly imo as at Cairn,only after they hit black gold on the third drill did everything become ultra clear.

BP/Petro stopped Char from spilling the beans from Nimrod--why?

HRT still have to announce their second farm in partner---BP?

No more licence awards in Namibia so are BP/Major Oil gonna acquire other companies?

From GKP and Cairn I have gleaned much knowledge of how things are kept secret in the Oil industry and "dusters" are sometimes but pawns in the larger game of chess.MOl playing down the GIANT that is Shaikan,playing down AB as potentally non commercial--LOL and Genel/TH find a 300ft Oil column at Ber Bahr and then leave it for a year???and Cairn of course have two convenient "dusters" pre buying Shells WI for a song and then 3rd strike the jackpot.
This the Oil industry and the presence of Major Oil in Namibia equals shenanigans IMO.
Anyway HRT are not far away from their drilling campaign so their second Farm In partner should be announced before the drill bit starts turning.

BP anyone?

[alex hawk] 17/1/2013 22:01

Nice base forming on the chart would suggest its bottomed.

This is what I expect to give the share price a boost alongside HRT spudding in Q1:

Owing to the significant amount of new proprietary information that the Company has acquired through the 2012 drill programme, Chariot's prospective resource inventory is currently under review and it is intended that an updated prospect inventory and consequential work programme will also be provided in Q1 2013.

The Company will focus on risk management going forward. The current work programmes require minimum expenditure and there is good head room for partner participation in the acreage which will ensure that Chariot retains a strong cash position. Management will continue to seek to reduce capital exposure through attracting further farm-in partners to share the costs and rewards of exploration.

[triples] 17/1/2013 21:50

fairenough

Thanks for reposting those earlier posts.

A few points still appear odd:

1) When is BP going to farm into this cheap acreage? They already have done a sweet deal with Serica but I would have thought that they would have farmed in elsewhere by now.

2) HRT are drilling soon, so the point above becomes more urgent

3) Will BP try to farm into Chariot's Centrals and if so, are they going to get it 'cheap' or pay full market value? If Chariot have been on the inside with all this stuff, then surely they won't be prey to a cheap farmout? Add to that how PW said how easily farmoutable Centrals will be.

[triples] 17/1/2013 21:40

Ticato

No Ad Hominens please - your swipe at fairenough11 is uncalled for. Pick holes in the poster's argument but don't be rude to the poster.

Another post like 777 may have to be moderated.

Thank you.

[hedgebetter] 17/1/2013 21:07

Interesting story.....it can be done..

[ticato] 17/1/2013 20:57

Greyingsurfer, nobody expects the CEO to respond to every individual email sent on by a shareholder, the idea is to try and get him to think about setting up a programme that updates all relevant information about the company on a regular basis on it's website. All modern successful companies do this now.

Hedgebetter, I did indeed send my email off to the address you have shown - and so far haven't received any bounce-back.

Ronan7, I will certainly feedback any information if I receive any.

Fairenough11, can't see why you would want to look for clowns on this thread, when all you have to do is look in the mirror!

However...good luck again everyone.

[hedgebetter] 17/1/2013 20:40

That CEObob character on iii has lost the plot completely. The individual comes across as paranoid at best - and blatant 'de-ramper' at worst. His logic is unfathomable...am I the only one who agrees with JIA on iii that the iii board has gone potty...!

This one is for you CeoBob....!

[fairenough11] 17/1/2013 18:29

Aye,

while you're all having a go,why don't you ask him how CHAR acquired prime acreage
in morocco/mauritania for sweet fa.

Read between the lines.As I have said many times this is a cairn moment and the rewards from these levels could be massive imo.

How do you think I felt as A Cairn holder after two dusters?But there was a bigger picture.Same here imo.

[hedgebetter] 17/1/2013 18:20

I disagree greyingsurger. If investor relations would respond to shareholders questions rather than fob them off then there would be no need to go to the CEO. However investor relations at chariot is tumble-weed city. If Larry kicks investor relations then he will get less email.

[e-mail]

[greyingsurfer] 17/1/2013 18:08

I think every investor should get in touch with the new CEO to ask him similar questions and enquire about his strategy for the company going forward.

I'd really rather all the shareholder's money that goes to pay his salary was used to further the aims of the company, and the future value of our shareholdings than answering emails from endless twitchy PIs.

Nothing wrong with asking real questions of clarification about ongoing and current events, but encouraging loads of people to swamp him with emails asking "why, oh why has the share price fallen" and similar is not to shareholders benefit, and everyone should recognise that.

[fairenough11] 17/1/2013 18:06

ticato,

6 posts in nearly two years?Hope you're not a multi aliased clown.

To understand what has happened here I will post an interesting trio of posts from III which I wholly agree with.

Nimrod---becomes a test well(wrong location/not deep enough) to suppress Namibian valuations until BP have acquired enough acreage/Farm ins---Char get excellent acreage in Morocco/Mauritania in exchange and Nimrod(optimum location this time) to be revisited.
================================================================================
====John I think you are over simplifying it, it isn't that they didn't not want to discover Oil it was that for quite complex reasons BP didn't want a discovery in 2012 as they were still positioning them selves to dominate Namibia and still are in the final stages of that process, a 2012 discovery would have shot up the value of Namibian acreage and the percentage stakes in farm outs and so on. Either way an early discovery would have cost BP billions extra to acquire the same position they would have with no 2012 oil

It was about delaying till 2013, Been over this countless times and its pretty much a consensus now. Although here are a lot of conspiracy's going around one thing is clear. This was not played on the up and up.

Please also keep in mind BP retained the Drill data for Nimrod and it is also way past due (Again due to the need to delay) Additionally the wells drilled by Char last year served as excellent test wells and helped gain a heck of a lot more data.

Trust me John I am not one to jump on board the conspiratorial band wagon but it is plain and simple here that without going into detail that this was not played straight and all going well it was with the boards best interest IE short term drop in share price for delaying successful drill and nimrod data till 2013 in exchange for a helping hand in acquiring key acreage, The key shareholders get the same thing in the long run IE Oil in Namibia (in 13 no 12) and get some extra acreage they otherwise would have failed to acquire (Morocco and Mauritania),

Additionally regarding the drill location (Being changed twice) Simply put, That does not happen, thousands of hours are put in to evaluating 3D data and you don't just change your mind a week before the drill. (additionally not sure if you are aware of the exchange of stake between PB and BP on the Nirmod drill)

Norton92 does have a point and for the long term holders the games are clear. Take a look at my post a while back that outlined many of the things that occurred with possible explanations to each. (I tried to be more positive on it)

If that does not help explain the reasoning behind some peoples thoughts on here do not worry we will just have to agree to disagree haha, We are all wanting the same thing in the long run and are in this together!

The reason I don't think the we are shafted and are going to get taken over idea is on the ball as that simply makes no sense as CHAR is not out to self destruct and main shareholders to lose money, Its about long term for them, so any (You do this and we will do this) that occurred over the past 12 months will have been beneficial in the long run and a low ball T/O simply would not happen now

Again I would suggest if you can find my post on this board from a couple of weeks back giving it a good read, if not I can paste it on here again just give us a shout : )

Either way, Everything will be clear by the end of 2013 and if Namibia fails we have one heck of stage to fall back on with Morocco and Mauritania and will have a nice bundle of cash from the sale of Namibian acreage (and that's a bad case scenario)
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Which wouldn't be a too bad of a thing as its pretty awesome acreage in Morocco and Mauritania but I don't think its been the plan to dump Namibia all along although its a possibility, but keep in mind Char isn't out to self destruct and it has to be beneficial for Char in the longer run.

Char certainly had help getting the additional acreage but I think the deal with BP (Given the change in the Nimrod farm-out) was more about BP controlling the data from Nimrod Essentially to delay a discovery in Namibia till 2013. (remember drill location was changed on Nimrod close to drill date)

So don't take your bat and ball home on Namibia yet as delaying a discovery in Namibia is massively important for BP and Petrobas and the other big boys to get into position and keep in mind someone on Char side had to agree to this and if you are simply looking at the long play, delaying two wells would not be a big deal to acquire key acreage.

Simply delaying anything In Namibia for a year, Doesn't make a difference long term as it would have been plugged and they would have returned in 2014 anyway so BP Ask Char to control the well, not drill deep enough (Test well) let BP control the results till they deem fit, and they help Char get some good Acreage in return. (I am aware Petrobas were the operator)

In the long run Char get everything they were going to get in the first place just slightly delayed plus some better data for the 2013 drills and BP get what they want in having time to position them selves to dominate Namibia in 2013 with the added bonus of more detailed data from the Nimrod drill.

All we know is at some point BP said we want to control the results from Nimrod and Char said yes. The reason behind that may be clearer soon

It was all about no oil in 2012 that was the game. (Remember Char was the only one drilling in 2012), Think of what would have happened to the value of Namibian Acreage for all the companies with licences and how much more it would have cost BP in farm outs and so on dealing with a derisked region with Goliath prospects. 2012 was a year too early and the amount of data they get from a drill is massive so think of those two wells as test wells for BP in exchange for some awesome acreage.

If that helps

-----------------------------------Second post-----------------------------------

Hi Gridz,

I think what we are trying to say is that the games that were played by BP were about delaying everything till 2013. The motives for games are no longer there once oil is discovered and the region is de risked, not to say further games will not be played. But BP farming in again with us would not be counter to the argument that things were manipulated in 2012 for the simple reason that the motives for manipulation were to delay.

BP Taking up Char on the cheap simply would not happen, The board would not accept a low ball takeover nor would the shareholders. Additionally the Char Acreage would not be sold below its worth and that would be after further drills.

At the time we can only use our best judgement and facts available to see what has happened

I hope this helps clear up,

Sam

-----------------------------------third post-----------------------------------

Hi Gridz

I thought I covered this in my original post RE the motive behind a delay and it was more about BP controlling the data from the Nimrod well to make decisions on future farm outs and there positions and prevent the massive increase in value of Namibian acreage before they had finished their position.

Given BP have no direct link with Char additionally they would be unable to simply say do not drill in 2012 please because we don't want you to, thats the reason they had to play games to get what they wanted, and remember they wanted the drill data so its not that they didn't want a well, they just didn't want a well that hit oil and wanted the data from a test well haha, I don't know if you were hear through 2012 but my goodness if you had seen some of the wording of RNS and followed everything throughout I feel you would understand better.

Basically if oil was found in 2012 this would have made the acreage, (the acreage BP are wanting to maximize profit from as they have made it clear Namibia is there key frontier region going forward) It would have massively increased the value of said acreage and given BP are not the licence holders of these blocks and have to farm in to get that they would have received much less preferential agreements with the licence holders when coming to farm in.

I hope this helps explain things, just in case it comes across the wrong way don't take my post as one of aggression or of an argument just wanting to help explain things either way no point speculating further now I just wanted to explain. 2013 is going to be interesting lets just say that! hopefully very profitable
================================================================================
The Chariot/Petrobras/BP joint venture has also announced its intention to drill a well on its Orange Basin acreage, to the east of AOS, in 2013.The Licenses cover an area of approximately 2.7 million acres and are also situated directly west of the Kudu Gas Field. A NI 51-101 technical report is currently being prepared.

This is either wrong or it means someone has let on that they are returning to Nimrod for another drill or at least another drill in the southern block by accident because CHAR certainly didn't announce it.



Quite interesting... Lets hope so

Would be interesting to find out the accuracy of this, norton92 found this the other day and it seemed to get brushed over, Did I miss something? as if I didn't this would be quite a big thing regardless of If Char say its rubbish because if they didn't announce publicly (which they didnt) of course they will deny it

[ronan7] 17/1/2013 18:05

tic look forward to hearing any feedback you get from company

i for one take this as a puntish and mainly using profit from else where
so it owes me little.....also im a johny come lately (19th nov 2012) and showing a profit rather than a 50% loss.....so im quite positive

[ticato] 17/1/2013 15:40

Still supportive, but now taking a more pragmatic approach, this is how I'm reading some of Triples recent posts. I think a few others on this thread ought to be doing the same and started getting away from attaching all the long drawn out useless superficial corporate rubbish that comes with most charts, videos and seismic graphs. The only chart that counts is Chariot's progression chart, and it doesn't read all that well I'm afraid.

2007 - Company formed, based in Guernsey
2008 - Listed on AIM, raised £45m
2009 - Appointed Paul Welch as CEO
2011 - Raised $140m
2012 - Raised $48.7m: Sacked Paul Welch

As you can see the board are very vociferous when it comes to asking shareholders for cash, but weren't so up-front when they failed to hit the hotspot with the drill twice in 2012. Their long period of silence after these disappointments spoke volumes about their strategy. Just three months after the dusters they shot themselves in the foot again when they announced that their CEO had moved on to pursue other interests, when, of course, less than a month earlier he said in a TV interview that he was looking forward to leading Chariot to exciting times ahead. These are the reasons why the share price has crashed to 29½p, and all the ramping in the world won't push it up. Things might even get worse, because on top of all the failings above no oil has ever been found off the coast of Namibia... yet.

Despite all of this I'm not throwing the towel in yet, (although at this point my investment has lost half it's value) because I believe 2013 is going to be a good year for the Oil & Gas Industry and I also think that Namibia is a slight odds-on chance to come up trumps. But everyone should realise that at this stage, with the information that's available to investors, Chariot is no more than a punt. If the company were to change policy and develop a strategy with a direct focus and a more open investor relationship things could maybe start to look up then.

I've sent CEO Larry Bottomley an email today to see if he's got anything to say about any of the points I've raised here. I've also asked him if we're still in partnership with any of the big boys, and whether it's possible to improve the accuracy of seismic graphs, which could mean employing a higher pitched strategy when trying to bring partners on board.

I think every investor should get in touch with the new CEO to ask him similar questions and enquire about his strategy for the company going forward. Don't forget, if the Board thinks that no one is ever going to challenge their poor performance they might even have it in mind to dilute the share price even further. So come on Chariot's PIs get those keyboards clicking.

As I've said, I'm sticking in there...
good luck everyone.