Chariot Share Discussion Threads

[sos100] 19/2/2013 09:00

even if HRT stike i can't see a sustained rise to 50p this year.Might see some short term rise to 35p but thats it.


all imo

[alex hawk] 19/2/2013 08:59

Repo you raise some interesting points, my view cash is low, zamba is a smaller prospect than expected for 2014 but for me Nimrod results are key and to see what the subsequent work program will be which we find out in q1. Will buy/sell on the back of this. My stance hasn't changed and I think the drop was deserved but perhaps overdone. I also 2nd triples cash concern he did flag a few days ago, if people want to de-ramp and accuse individuals please get your facts right.

[lanaken] 19/2/2013 08:57

Kiwimonk,

Good points but at year end if those drills are not succesful we'll have well less than 10p cash and the farmouts will be looking a whole lot more difficult. Potential partners will smell blood and the potential rewards v risk will be seen as being lower.

There again some oil and it's a whole different ball game.

The cautious approach is the right one in the circumstances and Welshie spent the cash too quickly. That's why he's gone.

Great licenses and not much cash in deep water are a very difficult combination for investors. We need patience and some luck, like I said.

fairenough,

They are spending a load more money on seismic.
In 2013 the Company expects to pay c.US$25 million for the acquisition, processing and interpretation of the 3500km2 3D seismic survey carried out in Mauritania, with plans for a further US$15 million planned for other G&G and G&A costs.

repo

[fairenough11] 19/2/2013 08:57

Brokers presentation this morning.

Southern evaluation results end of March.

HRT start drilling campaign in about 6 weeks time.

Plenty going on with NO EXPENSE to Char.

They don't need cash right now--FACT.

They will Farm Out Centrals---Fact.

[fairenough11] 19/2/2013 08:53

lanaken,

its not news,no matter how many times you say it.The seismics were to pay for.Did you not know this?

Of course the seismic info/data is now an asset,but of course in some people's world they don't count assets such as proprietary data/acreage,they only count expense.

[kiwimonk] 19/2/2013 08:51

HRT are very kindly drilling 2 -3 wells in acreage adjacent to us - spending $300m in doing so - we get the free ride on the success of their drills.
Petrobras are their Technical Partner in this.

It's really very silly for people to come on here and start slagging off a perfectly good RNS - that is of a high business calibre in it's cautious approach and sit back and wait for the others to strike and take all the benefits for no expenditure on our part.
HRT Strike this year - this will 5 - 10 bag.
If they don't we won't move from where we are.
As Drilling will continue - BP will announce what they intend to do soon.

If people cannot see the potential for CHAR at 25p - get out of the investing game quick!

KM

[hedgebetter] 19/2/2013 08:48

The presentation to the city analysts will give them something to chew on.

II soon IMO.

[fairenough11] 19/2/2013 08:47

Expect good news


"Final evaluation of the Kabeljou-1 well by the Operator of the block is still underway and an update to the prospect inventory in 2714A is pending following these results"

Results are expected at the end of March 2013

Evaluation has took a while hasn't it?Wonder why?

Stay cool and ignore the clowns imo.

[hedgebetter] 19/2/2013 08:46

I see the usual muppets have turned up. LOL.

[hedgebetter] 19/2/2013 08:44

Hablo - is Hub Here. Simples. Now filtered.

Up 15% since Jan 1st.

[binladin] 19/2/2013 08:43

should go to 5p like all oilers...

[fairenough11] 19/2/2013 08:41

lanaken,

the cash position was known as the seismics were to pay for.Its not a shock at all.

"All contractual licence commitments are fully funded through to the end of 2014".

They hold large WI in their blocs and they have already stated they will have no trouble farming out the CENTRALS.As before we now await the Full report from the southern blocs next month and the start of HRT drilling campaign.Nothing has changed imo,no matter how some want to say it has.

Namibia/Morocco/Mauritania are all HOT SPOTS where acreage is much sought after.Char's acreage is valued at ZERO.

[mariopeter] 19/2/2013 08:40

All eyes on HRT

[hedgebetter] 19/2/2013 08:40

So Tapir is not a write off...quelle surprise. They are using the information to calibrate and have found another large potential. Lots of chickens running around. The presentation to analysts today today will have a much more rational response. We will be able to hear it soon...after 10:00 ...

Breaking news...oil has been found - 1bn barrels...response by CEOBOB - no it hasn't - it's one of those things that Nasa did to pretend someone landed on the moon. I think CEOBOB has lost the plot..as have some others...

[lanaken] 19/2/2013 08:34

fairenough,

it looks much more risky than an hour ago. If you can't see that I fear for you.

repo

[alex hawk] 19/2/2013 08:32

Yawn...wait till end of q1 HRT spud , south work programme and nimrod results - they already have partners in the south - and sentiment will again change. Yes cash burn is high, but look at the total acreage size - CHAR always needed partners and nothings changed there. Remember no more nambia licences up for grabs.

[sos100] 19/2/2013 08:32

Cash Position

As at 31 December 2012 the Company's cash balance was US$68.3 million (unaudited) compared to US$112.4 million as at 30 June 2012. This cash utilisation was comprised of US$36.5 million of expenditure incurred on Namibian drilling and seismic activities, US$2.4 million on Mauritanian and Moroccan G&G and G&A and US$5.2 million on other G&G and G&A costs. In 2013 the Company expects to pay c.US$25 million for the acquisition, processing and interpretation of the 3500km(2) 3D seismic survey carried out in Mauritania, with plans for a further US$15 million planned for other G&G and G&A costs. All contractual licence commitments are fully funded through to the end of 2014.


fairenough they still have $45m to pay?

[kev0856153] 19/2/2013 08:31

So by the end of this year they will only have $28M left. They are at the mercy of finding farm-in partners now. I hope someone likes the seismic enough to farm-in otherwise its looking very grim here.