Chariot Share Discussion Threads

[moneymunch] 08/7/2013 19:52

Analysts: Wingat may not be feasible but it proves that there is oil in the Bay of Whales

May 21, 2013, 4

Galp Energia announced that the first three surveys made in the Bay of Whales is not viable from a business standpoint. Still, for analysts not all bad news because the results show that there is oil in those areas.

At first glance analysts BES and BIS seem to disagree on the news released this morning by Galp Energia, on the commercial viability of the first phase of surveys to be made in the Bay of Whales in Namibia.


BES Investment (BESI) says that the result of prospecting that demonstrated the existence of oil and rocks rich in organic carbon in the oil generation window is "positive." Already BPI Equity Research assigns an impact "neutral to negative" to the news that the well drilled by Galp has no commercial viability.



Still, analysts of the two investment houses say that the prospecting pit in Wingat have determined that it has no commercial viability does not affect the potential of two other exploration projects that the consortium in which Galp will explore later this year, as explained by the BPI.



Moreover, the presence of rocks of high quality is a good news for those farms that will occur in Murombe and Moosehead, as "increase, in our view, the probability desucesso the next two exploration wells to be drilled in Namibia," said BES. "These positive data largely outweigh the fact that the discovery not be feasible" through the pit Wingat.


The exploration program for 2013 offshore Namibia includes the drilling of three exploration wells. Wingat Murombe and take place in the Basin of Whales and Moosehead well will be drilled in the Orange River Basin. Investment banks also remember that the exploration project Moosehead expected to start in late May and Murombe will start in the third.



Neither the BIS or BES include participation in Galp exploration project with HRT in Namibia. Still, BPI remember that the concession agreement quoted gross recoverable resources of almost eight billion barrels of oil.


"We continue to consider a bet Namibia attractive for Galp, in terms of risk / reward, since investment costs are 1% of the current market capitalization of Galp maximum.

Philip Rose and Magdalene Carmona and Costa BES Investment

[moneymunch] 08/7/2013 18:45

that's exactly what i'm waiting for..GL

[hedgebetter] 08/7/2013 15:17

11% on low volume is nothing. If it were a HRT strike it would be an instant HRT multi-bagger....

[moneymunch] 08/7/2013 14:38

With big nuts!!!

[kiwimonk] 08/7/2013 14:36

Baobab is a tree

[moneymunch] 08/7/2013 14:33

Looking leaky imho...:-)

[moneymunch] 08/7/2013 14:26

Hrt moving up nicely....:-)

[vwnige] 08/7/2013 14:05

The start of the move up will start Sept, could be Tullow success or farm in news that starts it off...

In the meantime if CHAR make new lows it will be a good time to increase a holding.

[hedgebetter] 08/7/2013 09:44

That is true Nige - despite Marcio being a rockstar in the Brazil/Petrobras oil world - HRT has never worked out that way - full of gas and hot air has been what has happened to date.

[vwnige] 08/7/2013 08:35

Hedge..

I agree with you, the volume suggests nothing has been found so far...

I have been thinking about this and it has been mentioned that there has been no sell off either..

The reason for this is probabily the multiple targets, most investors are going to hold until TD and this maybe for no real selling volume..

I think we will have more success from Tullows campaign myself, HRT have never found oil anywhere where as Tullow have a fantasic record of about 70%.

[r007212] 08/7/2013 08:05

If you we're to try and anticipate drill depth v share price reaction for first drill you would note that things didn't pick up until td was hit and wireline and sampling took place.

[hedgebetter] 08/7/2013 07:50

Agree. And share price and Volume says no strike at Baobab.

In fact - despite all the 'potential' for good news - investor relations are not releasing any. Frustrating to say the least.

[r007212] 07/7/2013 23:24

Share price and volume will tell you all you need to know!

It is the intention to flow test that interested me

[hedgebetter] 07/7/2013 22:00

Where is the evidence they - HRT - are flow testing? I have searched and found none. There is no relationship between Tower's RNS and Baobab. I want HRT to strike as much as the next Namibia investor but there is NO evidence of flow testing, a Baobab oil strike or any relationship between a TRP announcement and HRT's share price....

However we are due news on the Northern partnering process, the start of the centrals partnering process, and Mauritania's data room. In addition we still do not know if the new Technical Director owns shares in Chariot. If he does then as long as it is meaningful then it will be good news. The lack of news makes me suspect that he holds nothing or diddly squat......

[lanaken] 07/7/2013 21:04

I'm sure they'd want to get any good news out there in a timely fashion but the government might not be so interested in their share price and might want to make a big splash in their own style.

We'll know soon enough, but at the moment the share price is telling us nothing.

repo

[moneymunch] 07/7/2013 20:27

agreed belisce6, although the recent bullish newsflow from TRP might suggest they've already hit at Baobab imho.....HRT probably intends to hold back until total TD, but if volume picks up significantly, they might have no choice but to make it public, but could be waiting for completiion of flow tests etc......wishful thinking and fingers crossed. GL

[belisce6] 07/7/2013 20:01

i dont agree with u guys... they hav no need to announce anything now but until the end... with 3 or 4 targets is daft to announce if first target has something cos then they hav major expectations for last targets... leaving it all til the end is fair enuff...

[r007212] 07/7/2013 19:52

Rkh waited to td ;)

[moneymunch] 07/7/2013 19:20

Fwiw i think they may have hit oil at Baobab, and are currently flow testing etc...apparently it takes around 10 days from strike to know exactly how much there is....they certainly wouldn't be too worried about the current level of sp
if they had, and the share price is up well over 30% on Bovespa, from it's recent low...time will tell, but i'm hopeful. GL

[pineapple1] 07/7/2013 18:44

no one delays good news

[lanaken] 07/7/2013 13:49

Very difficult to call but if there have been no technical hitches they may well already have something to test.

Drilling ahead of schedule suggests that there haven't been holdups and looking at the two posts above one could be encouraged;-) Maybe they drilled through some easy rock full of oil!

We'll see but some day someone will find commercial quantities of oil offshore Namibia. The sooner the better, imv.

I'd give it five weeks before we know.

repo

[r007212] 07/7/2013 09:44

Yeah brilliant, thanks moneymunch

[moneymunch] 07/7/2013 07:47

RIO DE JANEIRO, July 1, 2013 /CNW/ - HRT Participações em Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP) announces that its Board of Directors, in their June 27 and 28 meeting, reviewed the ongoing drilling program in Namibia where the Murombe well is drilling ahead of schedule and below cost estimates. The well should finish drilling in early August.