Chariot Share Discussion Threads

[crosswire] 21/5/2013 09:52

"Chariot Oil & Gas (LON:CHAR) shares fell 4% in opening deals on Tuesday despite news of Nambia's first oil discovery.Last year Chariot completed an unsuccessful drill campaign offshore Namibia and with no drilling of its own scheduled this year investors have pinned their hopes on the efforts of other explorers.And last night, Brazilian oil firm HRT Walvis Petroleum last night announced that the Wingat exploration well, offshore Namibia, had found oil but not in commercial volumes.Findings from the deep water well have led HRT to indentify two well-developed source rocks within the 'oil-generating window'."The fact that the source rock is in the oil window and generating liquid hydrocarbons of excellent quality confirms the source potential of the basin," HRT said in a statement.HRT will now spud the Murombe well which will be the second of three planned wells in the programme. Drilling is expected to start before the end of the month.Although it is by no means a home run, the fact that the HRT well found oil bodes well for the likes of Chariot Oil & Gas and Polo Resources' (LON:POL) Signet Petroleum – both of which have their own exploration projects in the vicinity.In its own statement today, ahead of it AGM, Chariot chief executive said the assets in Namibia remain a priority for the company."

[m1notaur] 21/5/2013 09:51

Anyone with any sense will be heavily accumulating here.M1

[ronan7] 21/5/2013 09:32

cool gone to auction

another little rise I hope

[ronan7] 21/5/2013 09:31

lets hope for some more positive news at agm this pm

[fairenough11] 21/5/2013 09:23

"Source Rock"

as good as a "find" for us.

[ronan7] 21/5/2013 09:22

1.75p up on last nights bid
looking good

[herschel k] 21/5/2013 09:22

I have added this morning.

[ronan7] 21/5/2013 09:19

let them all keep drilling...while we sit and look at data ...and not spend all our dosh

whats not to like

[crosswire] 21/5/2013 09:15

Murombe Well will be drilled about 15 kilometers westward of Wingat-1, it will test a Cretaceous basin-floor fan and its spud-in is expected to happen latter in May. This well will be the second of a three-firm-well drilling campaign that HRT is currently running in Namibia."We are pleased with Wingat-1 overall results. The confirmation of the presence of high quality source rocks that are clearly in the oil-generation window, coupled with the IFA formation testing, which recovered light-oil from the reservoirs we penetrated, were major achievements obtained by this well. The find and recovery of the first oil offshore Namibia make us feel confident that we will achieve our goals that were set for our drilling plans in the Country. Our efforts will now be to proceed to our second exploration location in this basin - the Murombe-1 well, which will target turbidite reservoirs located above and beneath these source rocks within the same PEL," highlighted Milton Romeu Franke, the CEO of HRT.

[crosswire] 21/5/2013 09:14

Good news , 1st oil in Namibia!

[shakudomaster] 21/5/2013 09:09

Wild moose. Call the samaritans. Quick.

[thorpematt] 21/5/2013 09:09

Anyone got access to any geology on the Walvis Basin?

A CPR would be nice.

That oil looks very mobile at those APIs so your only really stuck on reservoir quality...

[mariopeter] 21/5/2013 09:08

Shorters are in trouble here today and no one is selling to give them back stock.

[ronan7] 21/5/2013 09:06

well back to evens...now for some profit

[crosswire] 21/5/2013 08:49

The fact that the source rock is in the oil window and generating liquid hydrocarbons of excellent quality confirms the source potential of the basin.

[ronan7] 21/5/2013 08:49

blue ...ty wildy

[crosswire] 21/5/2013 08:46

The information obtained, coupled with the results of preliminary studies of all data collected from the well, allowed HRT to identify two well-developed source rocks, which are rich in organic carbon and both are within the oil-generating window. Also, the well encountered several thin-bedded-sandy reservoirs that are saturated by oil. HRT collected four samples of this oil, each of 450cc, and the analysis of these samples indicated the presence of light oil, 38o to 42o API, with minimal contamination. No water-bearing zones were identified in the drilled section. The well is currently in the process of being plugged and abandoned.The fact that the source rock is in the oil window and generating liquid hydrocarbons of excellent quality confirms the source potential of the basin. As such, the results of Wingat-1 Well provide important information that will help calibrating and guiding HRT's next exploration steps in the Walvis Basin. These source rocks present in the well can charge reservoir intervals of other prospects identified in the license, including Murombe Prospect, which will be drilled next.

[mariopeter] 21/5/2013 08:37

Actually I am very very impressed with the timing of that RNS today and shows that management care about the share price. Its like a protective RNS given the slightly disappointing news from HRT which the world and its dog had pretty much worked out anyway.

[ronan7] 21/5/2013 08:31

seems that way

any way no tank today

[mariopeter] 21/5/2013 08:26

We have a big buyer around 20p level and this was alluded to by a poster about a week ago.

[wild_goose] 21/5/2013 08:23

There we go, back down again.

[ronan7] 21/5/2013 08:05

good to see some resistance at 20p

[linslader] 21/5/2013 07:30

Wild_Goose, you selling today then ?

[stockriser] 21/5/2013 07:26

WG - if this tanks today I will be buying big time, and I am sure you will also be doing likewise ;-)

[888icb] 21/5/2013 07:15

HRT has been able to confirm the oil potential of the Walvis Bay off the coast of Namibia by discovering the oil source rock and non commercial quantities of high quality light crude.
This is very good news for Chariot and all the other companies that are exploring in Namibia.they now know the oil is there and can plan their own drills accordingly.