Chariot Share Discussion Threads

[wild_goose] 18/3/2013 19:34

Highlander,

Are you drunk, how do get 10 times.

[lanaken] 18/3/2013 19:26

Is that your site Hedge?

repo

[hedgebetter] 18/3/2013 17:47

bellsce6 -

[highlander7] 18/3/2013 15:29

CHAR could become 10 times more valuable in under 10 weeks time! 50/50 - place your bets.

Crikey !!!!!!! Id better buy a 100k RIGHT NOW.

[f0rl0rn] 18/3/2013 12:51

Year results should be on 21st if you can believe tarles from iii but Wednesday should try to pump share price

[fairenough11] 18/3/2013 12:14

and don't forget Cairn in Morocco.
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"Renowned for its success in India, Cairn believes it could make big finds in the relatively under-explored waters off north-west Morocco. The company is planning a multi-well, multi-year exploration programme offshore, to the west of Algeria. It said drilling is "targeted to commence in Q4 2013"

[fairenough11] 18/3/2013 11:34

WEST AFRICAN EXPLORATION

O'Hanlon said Tullow has a busy drilling campaign next year, with one focus on blocks offshore Mauritania.

"There are no shortages of prospects -- some 80 offshore Mauritania," he said.

He said Tullow would embark on a multi-well drilling program in the first half of 2013 at an approximate cost of $100 million per well.


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$100m per well??????????????

If Char Farm out their Mauritanian acreage to get free carries,its worth $50M a pop to them.Thats what makes Chars valuation so ridiculous.It values all Chars acreage in Morocco,Mauritania and Namibia at ZERO,yet through Farm Outs Char can gain $100's of $millions of free drilling costs,then if they or anyone else HITS OIL---BINGO!!!!!!!!!!!!!!

[belisce6] 18/3/2013 11:16

fairenough11... any idea when in 2013, this tullow drilling starts ??

[fairenough11] 18/3/2013 10:58

iii-cheers---its all about to kick off



Tullow opens Mauritania office

In preparation for the start of a four well exploration programme and increased operational activity, the Director of Hydrocarbon, Ahmed Salem Tekrour, joined a small number of guests to open the new Tullow offices in Nouakchott, Mauritania. Guests were then received by Tullow Country Manager, Kemal Mohamedou before Operations Manager, Yves Delnatte, gave the guests a short tour.

Ahmed Salem Tekrour, Director of Hydrocarbon, stated; "We are glad to see that Tullow now has modern offices here in Nouakchott to support their growing operations and we wish them success in their long term projects in Mauritania".



Tullow Prepares for Drilling Offshore Mauritania. Opens Offices in Nouakchott
Posted on Mar 14th, 2013

Tullow Oil, a UK-based oil & gas exploration and production company, has opened new offices in Mauritania.

In preparation for the start of a four well exploration programme and increased operational activity, the Director of Hydrocarbon, Ahmed Salem Tekrour, joined a small number of guests to open the new Tullow offices in Nouakchott. Guests were then received by Tullow Country Manager, Kemal Mohamedou before Operations Manager, Yves Delnatte, gave the guests a short tour.

Ahmed Salem Tekrour, Director of Hydrocarbon, stated; "We are glad to see that Tullow now has modern offices here in Nouakchott to support their growing operations and we wish them success in their long term projects in Mauritania".

In Mauritania, Tullow has exploration, development and production activities across nine offshore licences. Tullow has significant acreage of over 42,000 sq km extending along 750 km of coastline and includes the Chinguetti oil field. Chinguetti was the first discovery in Mauritania in 2001 and since then further discoveries have included Banda in 2002, Pelican and Tiof in 2003, Tevet in 2004 and Faucon in 2005. In January 2011, the successful Cormoran-1 exploration well successfully appraised the Pelican gas field and discovered two new underlying fields, Cormoran and Petronia.

In October 2011, Tullow announced that it had signed a new exploration PSC, C-10, which replaces the previous PSC-Area A and B. In June 2012, Tullow signed the new C-18 exploration licence which covers an area of 13,255 sq km and lies directly west of the existing Block 7 exploration licence that Tullow is a partner in. In 2012, the Banda gas field was declared commercial and it is planned that the field will supply a power development. In 2013, Tullow will commence a major basin opening exploration campaign across a number of licences in Mauritania.

[ronan7] 18/3/2013 10:33

results wednesday?

i got it in me diary for this week but no date

[belisce6] 18/3/2013 10:26

yep... the 10 times rise is y im here... id even take 3 to 5 times rise... :-))

[f0rl0rn] 18/3/2013 10:25

10 times more share price without action? ??? Don't forget we are expecting year end results. After two not commercial wells it can't be great.10 times hahaha and by somebody I've been told that i post nonsense.GLA still holding. Anyway till Wednesday and than we'll see.

[drambui] 18/3/2013 10:08

Or it could halve again from here (much more likely). The dotcom falls here sum the company and it's management up rather nicely! All in my humble

[ronan7] 18/3/2013 10:04

i`ve placed mine already

i`d be happy with 3 times

[kiwimonk] 18/3/2013 10:02

CHAR could become 10 times more valuable in under 10 weeks time! 50/50 - place your bets.

[fairenough11] 18/3/2013 10:00

Don't forget--HRT start drilling in a couple of days time.

From 13th March.

In an interview with Foxnews to night, Marcio Mello of HRT confirmed that:
1.Drilling of the first well will start in 5 or 6 days time(From 13th March)
2. That HRT was continuing in negotiations with a number of parties to complete a further farm out, expected to complete a second farm out before June when the first well result will be known.

see:

[hedgebetter] 18/3/2013 08:36

The Marianas is on the move again...nice...

[belisce6] 18/3/2013 00:40

y would they go and quote the DHL Express MD ?? that belittled the report, as far as im concerned...

[hedgebetter] 17/3/2013 18:34

Thanks fairenough..

Some new Polls -

I guess the Chariot BOD will get wind - send them a message!

[fairenough11] 17/3/2013 12:04

HRT drilling campaign starts in a day or two.Not long now.From iii cheers.
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NAMIBIA this week embarked on its biggest oil-drilling expedition following reports of increasing numbers of discoveries on the west coast of Africa in recent years.

"We are excited about the drilling and when we find oil we will invite you to the celebrations," Namibia's Minister of Energy Isak Katali said.

The country planned to start drilling the first of four holes on Friday and will spend around R2.7bn over the next eight months in hopes of finding oil.

Countries lucky enough to find oil see a direct boost to their GDP growth. Angola's GDP growth increased from 3.4% in 2010 to an expected 7.1% this year, with its oil industry growing at around 15% a year and prices climbing.

Namibia hopes for GDP growth of between 4.3% and 4.5% this year, while South Africa is looking at 2.7%.

Stanlib Africa manager Humphrey Gathungu said finding oil would hold significant benefits for Namibia in terms of exports and boosting the country's foreign exchange reserves and downstream activities - generating significant income for the country if the find is big enough.

"It would have a multiplying effect in terms of things like labour, skills transfer and further industrialisation," he said.

Namibia's hopes of finding oil are based on the 22 discoveries of its northern neighbour Angola, which have helped the formerly war-stricken country become one of Africa's major economic players over the past decade.

On the same coastline, Ghana has had 16 major discoveries over the past five years.

To date, Namibia has drilled 17 wells to no avail. Last year UK company Chariot Oil&Gas failed to make a commercial find after drilling two exploration wells in six months.

DHL Express MD Hennie Heymans said: "We are currently not sure of the likelihood since there have been reports that the initial drilling programmes have not been that successful. However, international oil companies are still expressing interest, so there must be some reasonable chance of this."

Namibia's energy director general Selma-Penna Utonih remains positive and points out that Norway drilled 70 wells before striking oil.

Big oil companies that have shown interest in Namibia include BP and Repsol, which picked up licences in the past two years on a bet that Namibia's coastal shelf mirrors that of Brazil, where oil has been found.

"It's all about the geography," explained Katali. Hundreds of millions of years ago Africa and Brazil were one continent, hence the tectonic plates are the same. Ultrasound technology and seismic data have shown analogues on the coastline similar to the petroleum systems found at the Santos and Campos basins in Brazil, he said.

Brazilians are keen to provide expertise and funding for the latest drilling expedition, which has been set in motion by Namibian Knowledge Katti.

Katti initially secured the oil drilling licensing from the Namibian government through his company Kunene Energy and went on to raise about R500m on the Toronto Stock Exchange. The company was then bought out for R5-bn.

Katti used the money from the acquisition to buy himself a large stake in HRT - the company now drilling for oil - thereby regaining significant exposure to the drilling expedition and the potential profits.

Katti said it is important to retain local influence in the industry, considering that all mines in Namibia are currently foreign owned. Namibia does not have an official localisation policy but follows a black economic empowerment (BEE) policy similar to that of South Africa.

Concerns have been raised about exclusive licensing agreements that are allocated in line with BEE and then farmed out to foreigners, but Katti said he was trying to avoid such a scenario by directly buying into the big multinationals, such as HRT in this case.

Retaining some local ownership is becoming increasingly important, considering that almost 90% of oil and gas operations in Africa's largest oil-producing country, Nigeria, is owned and operated by international oil companies.

Paul Eardley-Taylor, head of Standard Bank's oil and gas team in Southern Africa, said the region is one of the most attractive in the world when it comes to oil and gas prospects. "In Mozambique alone, $2-billion [R18.3-bn] has been spent on exploration ventures and that is just the start of things. Tens of billions of dollars will be spent developing the oil and gas industry of Southern Africa in the next decade," he said.

Forecasts by GBI Research show that offshore drilling expenditure in Africa and the Middle East will climb steadily from $13.56-bn (R119.4 bn) in 2012 to $17.03-bn(R156.5 bn) in 2016.

Cumulatively, the total expected spend for this five-year period is $77.3-bn (R710.3-billion), which represents an increase of about 22% over the previous five-year period.

Stanlib Africa portfolio manager Thabo Ncalo said the investment fund company is seeing significant interest in the African oil story from companies listed in Canada and Australia.

According to Eardley-Taylor, South Africa is also likely to benefit: "There will be spillover benefits that will include things like skills and expertise taken over, construction companies needed to build infrastructure and even niche services like aviation and catering."

* This article was first published in Sunday Times: Business Times

[hedgebetter] 16/3/2013 09:09

Falklands - there has been very few drills in Namibia given the total acreage. Simple as that.

[falklands] 16/3/2013 08:45

F thanks for your geo input however one point to say is 27% cos without well control is very good if you take for example sea lion was 23% cos with well control and Darwin was 22% without well control.

TRP the real cos hot spot with 40% cos and well control some now say 31%

Oil seeps around suggest a working system with HRT all to play for but don't bet your house on it.

No position in chariot my take is the oil up north and char/ Sqz areas are questionable no past wells have produced real oil shows only TRP basin so far.