Chariot Share Discussion Threads

[hedgebetter] 19/6/2013 16:04

Namibia - not if there is commercial oil - it's when as to finding it. Getting closer.....oh and then there is Morocco, Mauritania, Brazil...why on earth is Char priced at this level...wake up Mr Market...!

[fairenough11] 19/6/2013 15:19

HRT on fire.

Added here.

Good luck all.

[ronan7] 19/6/2013 14:48

up 10% plus
and good volumes

even bigish sells for hrt can not pull it down

20% up at end of day must tell us something ..

[peterboroughmatt] 19/6/2013 14:28

Got somemore today :)

[moneymunch] 19/6/2013 14:28

5.7% and rising!

[kiwimonk] 19/6/2013 14:27

you know when the wildcatters of the midwest would strike oil, and they'd jump around in the gushing oil, this is what also happens on Drill Ships!!

[hedgebetter] 19/6/2013 14:23

hxxp://www.bmfbovespa.com.br/Pregao-online/ExecutaAcaoCotRapXSL.asp?txtCodigo=HRTP3&gstrCA=&intIdiomaXsl=1 up 18%

[moneymunch] 19/6/2013 14:14

And lots of it , if another 20% up.. gla:-)

[kiwimonk] 19/6/2013 13:56

no smoke without oil

[r007212] 19/6/2013 13:43

up another 20% pre market according to
stockhouse

[r007212] 19/6/2013 13:18

IMO, hrt have strong oil shows already, current depth, 1600metres ish!

[ronan7] 19/6/2013 12:48

lets hope it opens 10% up

give us a push then

[hedgebetter] 19/6/2013 10:58

I still think its too early. The HRT drill rate last time was very high. The riggers are very good for sure. I subscribe to the late next week Baobab calculations. WFTFDIK! But happy if it comes in earlier...come on Namibia - show us the Oil!

[r007212] 19/6/2013 08:31

Looking forward to seeing the price action at HRT today, there is every possibility that HRT could report an oil discovery on the way down given the fact there is more than one target area, they would want to preserve the formation by casing and then continue drilling. African Oil type reporting ;) Very exciting times!

[ronan7] 19/6/2013 07:18

lets hope we get some of this rise here today

[moneymunch] 18/6/2013 22:51

courtesy of jimmy on iii

The HRT well Murombe was spudded on the 1st June and announced on the 2nd june. The rig is drilling in a water depth of 1391 meters, and all drilling depths are based on the depth from the sea surface.
The first reservoir to be targeted is the Baobob reservour which is expected at 3670 meters or 2279 meters below the sea bed. Using a drilling rate of 100 meters a day they will encounter the top of this reservoir this coming weekend. However it may be that the drilling rate in the early part of the well could reach as high as 120 meters per day in which the case the top of the baobob reservoir will be encountered imminently.

In any event, HRT reported in the post Wingat well results conference call that they first encountered gas shows at 500 meters meters belowq the seabed and that by 1500 meters below the sea bed they were encountering strong oil shows, which were later prroven as coming from two source rocks both of which were mature , rich and oil mature and capable of generating substantial volumes in the Walvis Basin.
The current Murombe well location is 15Km from the Wingat well location and it is inconcevieble that this Murombe well will not encounter substantial oil shows. The question that remains is will the Baobob reservoir have adequate porosity and permeability to generate high oil flow rates and only drilling can provide that information.

What is clear is that HRT will be utulising measured while drilling (mwd) equipment in its operations, which are usually very reliable, although they require wireline logging to be certain of the results.Accordingly HRT will have a very good idea of these well results a considerable time before drilling is completed.

There are a further two reservoirs, the next at 5090 meters sub sea level (murombe Fan) and a third at 5360 the Silveradi prospect. Both of these reservoirs are expected to charged by an oil source rock that has not yet been proven in this part of the Walvis Basin, and if proven would have important implication for Chariots acreage which is nearby.

Watch HRT for high volume and large % moves.

Chariot get all this critical data for free, and none of Chariots acreage is valued in its share price. The hard part was proving and recovering oil and thats already be done by HRT. The oil industry understands the importance of the last HRT Wingat well result. If HRT strike oil the stock market will quickly realise the enormous potential for exploration offshore Namibia.

[hedgebetter] 18/6/2013 22:42

Yes the 22nd - 29th calculation...one will be right...;=) hopefully it is the earlier one and evidence of something that can be sold on the commodities markets...either way - great news ...

[moneymunch] 18/6/2013 21:57

Hrt 20.4% up!:-)

[moneymunch] 18/6/2013 21:46

Or sooner

7/6/13

Baobab starts ~3400m and is about 400m thick. Considering we started at 1350m (seabed) on ~28th May, and assuming a drill rate of 80m (which seems sensible based on Wingat), then we are ~2000m total depth as of today. At that rate we will hit Baobab on 22nd June. It is weeks away.

With 3 source rocks, and a potential intersection of 400m, Baobob would be an exciting prospect as it is....however we also have the deep stuff.. ...top seal of Murombe, to the bottom of Sivaradi is ~800m thick!! This well has the potential to be the biggest oil find of 2013

[hedgebetter] 18/6/2013 21:39

Several possibilities

a) Large II buying in - burning the shorts on the way
b) News of farm-out for 4th drill has leaked
c) Something sensed through the logs - it's all real time fed to Houston
d) Takeover
e) There is no oil in Namibia (LOL)
f) Traders see lots of buying and pile in and ask questions later
g) Pick a combination...or a.n.other

TD for baobab is approx 11 days time..

[moneymunch] 18/6/2013 21:06

Early shows?????

HRT, CHAR and TRP all had a surge in share price within 2 weeks of the wingat well spud.....and so we could have something similar with the shallower Baobab Reservoir, with early oil shows. GL

HRT Wingat

During drilling, the depth of water was 1,050 meters. Now from 1,500 metres, that is, entering 500 m surface sediments, we started to have major anomalies showing that there was gas coming into the blade. This gas may even have a biogenic origin, but soon began to appear, C2 really mature of gas oil.

[pineapple1] 18/6/2013 20:58

BP have not sanctioned any rise.Its not allowed. If they hit oil its a mistake and should have hit dust.Someone will get sacked if they hit oil i,m telling ya.
lol

[moneymunch] 18/6/2013 20:54

Make that 17% up! Gl:-)

[peterboroughmatt] 18/6/2013 20:07

The fun and games begins.

[hedgebetter] 18/6/2013 20:04

HRT is up 13% on TSX at present. Tweeted on HC...nice...come on - strike oil for all us Namibia holders...