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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Chariot Limited | LSE:CHAR | London | Ordinary Share | GG00B2R9PM06 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.32 | -4.27% | 7.18 | 7.12 | 7.29 | 7.39 | 7.07 | 7.39 | 1,534,354 | 16:35:22 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -14.88M | -0.0139 | -5.12 | 80.56M |
Date | Subject | Author | Discuss |
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16/4/2013 09:53 | from iii-cheers Morocco: Investor Spotlight Shines On Morocco Ahead of Busy Drill Campaign - Proactive Investors BY JAMIE ASHCROFT, 16 APRIL 2013 Proactive Investors Australia - The investment spotlight is set to turn back on Morocco's potential offshore bounty in the coming months as a busy well schedule gets underway. Cairn Energy's (LON:CNE) signing of a rig contract is another signal of the growing momentum in this emerging oil frontier. It is estimated that Morocco's vast exploration area, which spans almost twice the area licensed in the Gulf of Mexico, could become one of the world's top oil and gas provinces. This theory gained considerable weight through 2012 as many oil firms scrambled to gain exploration projects there. Those involved in the region range from the very large to the small, with Chevron and Total among the majors, as well as 'mid caps' such as Cairn (LON:CNE), Genel (LON:GENL) and Kosmos. Meanwhile, several early moving juniors still retain valuable interests following a swathe of farm-out deals last year: the list includes Chariot (LON:CHAR), Tangiers (LON:TRL), Pura Vida (ASX:PVD), Fastnet (LON:FAST), Serica (LON:SQZ), San Leon (LON:SLE) and Longreach (CVE:LOI). Cairn said it expects drilling will start early in the second half with the Foum Draa well, which will test a 142mln barrel target. This will set in motion a 10-well campaign which could firmly establish Morocco's offshore oil potential. And for this reason, City broker Jeffries says the country offers investors an attractive frontier exploration opportunity which will have a significant number of catalysts. "Morocco offshore emerged as one of the frontier exploration land grab hot spots in 2012 with numerous farm-ins, corporate acquisitions and new licence awards," Jefferies analyst Laura Loppacher said in a note. "This is expected to lead to an active drill programme of 10+ wells in 2H13/2014. We believe new technologies and play ideas could unlock significant exploration upside in this Atlantic Margin region which has been largely overlooked for the past decade." Cairn is carrying the first US$60mln of the well costs for the Foum Draa programme following last year's farm-in deal which gave it a 50% stake in the area - the other partners are San Leon with 14.17%, Serica with 8.33% and Longreach with 2.5% (the state oil firm retains the remaining 25%). The next well, Juby Maritime, is a joint venture between Cairn and Genel Energy - again the state has 25%. It is an exploration/appraisa Meanwhile, Kosmos could have joined the drill campaign by the end of the year, with the start of its programme on its northern acreage that will include at least two wells. This includes one in the Foum Assaka area, where it is partnered with AIM quoted Fastnet. Kosmos also has plans for at least one well in the Cap Boujdour area in its southern acreage. Pura Vida, and JV partner Plains Exploration, are AIMing to drill the Toubkal prospect in the first well in a two well programme starting next year. The Galp-operated Tarfaya project will see another junior explorer in the campaign. Tangiers sealed the farm-out to Galp last year and as a result the first US$33.5mln of its well costs will be carried. Next year will also see Genel drilling more wells - including one on the Sidi Moussa area, alongside San Leon, Serica and Longreach. Any material successes in the initial campaigns are likely to lead to more drilling because of the sheer size of the licensed area, according to Jefferies. "While there [are] currently only 10 wells in the firm drilling programme, in the event of success, there is very large running room possible given the acreage positions," Loppacher. "The average block size of blocks that will have a well drilled in 2013/2014 is nearly 10,000 square kilometres, or 2.4mln acres, which is equivalent to over 400 standard US Gulf of Mexico blocks." Lastly, Loppacher highlights that economically Morocco is an attractive destination for oil investment thanks to the government's accommodating approach so far. "Morocco has offered some of the most attractive terms available globally to incentivise investment." | fairenough11 | |
15/4/2013 07:36 | Morocco drilling on its way. Cairn Energy PLC (CNE) Add to Alerts list Print Mail a friend Monday 15 April, 2013 Cairn Energy PLC Cairn secures rig for frontier exploration RNS Number : 3185C Cairn Energy PLC 15 April 2013 EMBARGOED FOR RELEASE AT 0700 15 April 2013 CAIRN ENERGY PLC ("Cairn") Cairn secures rig for Frontier Exploration Campaign Cairn is pleased to announce it has secured a long term contract with Transocean for the "Cajun Express" drilling unit. The rig, which is on an initial one-year contract, will be used on Cairn's planned multi-well frontier exploration programme in Senegal, Morocco and potentially other areas. Subject to obtaining the necessary approvals the rig will be mobilised to begin operations for Cairn, offshore Morocco on the Foum Draa licence in H2 2013. The Cajun Express, is a deep-water, 5th Generation, dynamically positioned, semi-submersible drilling rig with shallow mooring capabilities and a 15,000 psi bop stack. The historic performance of the Cajun Express indicates it is a highly efficient rig with low operating downtime. | fairenough11 | |
14/4/2013 17:55 | snap23 ftse by end April will imo rise to the top. May not break it but it will try...this does not mean it wont lower...but eventually up | andonis | |
13/4/2013 22:33 | uv took 1 of ur posts off last 1,I saw it,saying FTSE going up but seemed to me its in a channel down??? | snap23 | |
13/4/2013 13:53 | ftse retraced to 1/3 of drop. | andonis | |
12/4/2013 14:42 | I hope so times ticking tho feel a lot of the 50k are roll overs | ronan7 | |
12/4/2013 14:08 | Some interesting trades here, could we have a run in the last 2 hours. | royalalbert | |
11/4/2013 20:10 | its on holiday back soon | ronan7 | |
11/4/2013 18:46 | Where is UT? | lukeisbackontrack | |
11/4/2013 16:37 | me cards bid up 3/4p in last hr or so | ronan7 | |
11/4/2013 16:35 | A.sucks is on to msg. | bad robot |
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