Chariot Share Discussion Threads

[hedgebetter] 09/9/2013 09:43

BP are with Serica.

[wild_goose] 09/9/2013 09:38

Hedge,

No, it is BP.

[hedgebetter] 09/9/2013 09:21

Chevron ...Cairn ....my hunch for partners....

[f0rl0rn] 09/9/2013 08:44

Feels that HRT's RNS this afternoon. ....

[lanaken] 09/9/2013 07:47

Don't hold your breath on this one.

Tullow took 3.5 months to agree a neighbouring block. That was very fast indeed and reminds me of BP's farm into SQZ. Now they've moved we'll likely see more competition for the Central blocks, which is the jewel in the crown of CHAR's Namibian assets. My view is that it'll take longer and will yield a better result.

I like the way Larry is going about his business here. It is measured and purposeful and shareholders will be given multiple chances of significant success on the back of the quality of the assets and management team. We still need a good slice of luck, but at the moment all these chances of great success are in the price for a few pence per share.

SQZ will be next to announce news, imv. BP have been ages with deciding whether they are drilling or not. If they don't say yes, there are others who will. They can't be far away now and the share price is starting to reflect that. CHAR will rise on the back of that news. SQZ have excellent acreage in Namibia.

My best guesstimate for an announcement on the Central block is January 2014. We've had two major players move very swiftly to farm into neighbouring acreage. Tullow's move on the back of HRT's drilling was pretty decisive and there are strong reasons to be cheerful about the prospects for a farmin here.

DYOR,

repo

[wild_goose] 09/9/2013 07:33

Partnering process initiated

----

BP again?

[royalalbert] 09/9/2013 07:28

Farm in on the horizon?

[ronan7] 09/9/2013 07:19

here we go then......any thoughts???

--------------------------------------------

RNS Number : 4715N

Chariot Oil & Gas Ld

09 September 2013

09 September 2013

Chariot Oil & Gas Limited

("Chariot", the "Company" or the "Group")

Resource Update

Independent CPR of Prospective Resource potential of the Central Area Blocks, Namibia

Highlights:

-- Principal drilling candidate Prospect B has an independently audited estimated Unrisked Gross Mean Prospective Oil Resource of 469mmbbl and a probability of geologic success (Pg) of 22%

-- Additional Upper Cretaceous Prospects and Leads range in estimated Unrisked Gross Mean Prospective Oil Resource from 213mmbbl to 1,487mmbbl
-- Partnering process initiated

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, provides an update on selected results from an independent audit by Netherland Sewell and Associates Inc ("NSAI") of the prospective resource potential of the Central Area blocks (2312 A&B and the northern halves of 2412 A&B) in offshore Namibia (90% Chariot (Operator), 10% AziNam Limited).

The technical work and audit is based on the evaluation and integration of the 3,500 km(2) of 3D seismic data (acquired by Chariot in 2011/2012 in the north-western quadrant of the Central Area blocks and processed in 2013), the Company's 2D seismic data and information incorporated from nearby drilling activity.

Whilst targets have been identified in both the deeper and shallower petroleum systems in the 3D seismic area, the focus of Chariot's forward exploration programme in the Central Area blocks is on the shallower petroleum system, which the Company believes to have lower associated risk. This is where Upper Cretaceous turbidite clastic reservoirs have been identified in a variety of stratigraphic and structural traps, with the potential for oil charge from locally mature marine source rocks.

Prospect B, Chariot's principal drilling candidate, is an Upper Cretaceous canyon-head trap in the shallower petroleum system and has an audited Unrisked Gross Mean Prospective Oil Resource of 469mmbbl, with an estimated probability of geologic success (Pg) of 22%. For this trap type and age of reservoir there are an additional three prospects (Prospects A, C and D) in the 3D seismic volume and three leads (Leads E, G, and H) in the 2D area. These additional prospects and leads range in Unrisked Gross Mean Prospective Oil Resource from 290mmbbl to 1,487mmbbl and success in Prospect B would offer significant follow-on exploration potential in these targets.

Within and to the west of the 3D seismic area, Chariot has identified a fairway with Upper Cretaceous deep water fan and channel sands draped over an outboard structural high, with the base of those reservoir sequences eroding into the marine source rocks. In this shallower petroleum system there are two further prospects in the 3D area (Prospects 4 and 6) and three leads in the 2D area (Leads 3, 4 and 5) and these targets range in Unrisked Gross Mean Prospective Oil Resource from 213mmbbl to 758mmbbl. Encouragement in Prospect B would offer significant additional follow-on exploration potential in this fairway too.

Chariot has initiated a partnering process to progress the exploration of these prospective licences.

Larry Bottomley, CEO of Chariot commented:

"The independent audit of the Prospective Resource potential of the Central Area blocks demonstrates the giant scale of the opportunity that exists within the Chariot portfolio. Although Namibia remains a frontier and high risk province, all the play elements of source, reservoir and seal have now been demonstrated and success in our exploration campaign would deliver transformational growth. Importantly, such success would also have a significant impact on the rest of the Upper Cretaceous turbidite clastic reservoirs portfolio within these blocks which offers material upside and follow-up potential in what would then be a de-risked play system.

"We have started the farm-out process to identify potential partners to join us in the exploration of this new and emerging province."

Selected prospects and leads from the shallower petroleum system:

Unrisked Gross Prospective Oil
Resources
(MMbbl)
-------------------- ---------- ------------------------------------------------------- -------------
Low Estimate Best Technical High Estimate Probability
P90 Estimate P10 Mean of Geologic
Prospect P50 Success
Play / Lead (Pg)
-------------------- ---------- ------------- --------------- -------------- ------- -------------
Upper Cretaceous
Canyon-head Prospect
Prospects A 170 374 684 390 13%
-------------------- ---------- ------------- --------------- -------------- ------- -------------
Prospect
B 203 450 818 469 22%
------------------------------- ------------- --------------- -------------- ------- -------------
Prospect
C 482 1350 2913 1487 12%
------------------------------- ------------- --------------- -------------- ------- -------------
Prospect
D 186 399 718 416 19%
------------------------------- ------------- --------------- -------------- ------- -------------
Total 2761
------------------------------- ------------- --------------- -------------- ------- -------------
Upper Cretaceous
Draped fan and Prospect
channel Prospects 4 58 192 467 223 18%
-------------------- ---------- ------------- --------------- -------------- ------- -------------
Prospect
6 59 187 437 213 12%
------------------------------- ------------- --------------- -------------- ------- -------------
Total 436
------------------------------- ------------- --------------- -------------- ------- -------------
Upper Cretaceous
Canyon-head
Leads Lead E 280 702 1374 747 13%
-------------------- ---------- ------------- --------------- -------------- ------- -------------
Lead G 227 726 1615 801 10%
------------------------------- ------------- --------------- -------------- ------- -------------
Lead H 85 266 579 290 7%
------------------------------- ------------- --------------- -------------- ------- -------------
Total 1838
------------------------------- ------------- --------------- -------------- ------- -------------
Upper Cretaceous
Draped fan and
channel Leads Lead 3 125 406 926 451 12%
-------------------- ---------- ------------- --------------- -------------- ------- -------------
Lead 4 199 681 1578 758 12%
------------------------------- ------------- --------------- -------------- ------- -------------
Lead 5 98 346 783 381 12%
------------------------------- ------------- --------------- -------------- ------- -------------
Total 1591
------------------------------- ------------- --------------- -------------- ------- -------------

[f0rl0rn] 08/9/2013 22:23

You sound like a salesman trying to sell this share.....if this is such a great investment case why iis not buying in but opposite selling out? ??......

[wild_goose] 08/9/2013 19:04

A drill is ~ $100 million.

[belisce6] 08/9/2013 18:57

doubt there will be a pound(GBP) per region amount that will be added to share price, after farmouts... that is theoretical nonsense that is usually only found in the back of broker reports... the question is... how much will each drill cost... i was pleasantly surprised by Tullow announcement, cos that would indicate that its a lot lower than i initially thought... however it all depends on depth of water and drillhole and terrain etcetc... so perhaps one cannot directly compare across tenements unless the other traits r the same...

[hedgebetter] 08/9/2013 14:56

hxxp://www.helioschariot.com/2013/09/08/namibia-tullow-pancontinental-key-points/ and as the site also points out - Tullow have farmed in BEFORE any HRT Moosehead announcement - looks like the Wingat result was enough for those with geotechnical knowledge and the big bucks to say this is a 'must have' frontier play ..

[hedgebetter] 07/9/2013 21:44

I would like to know the likely back costs for each of the Northern, Central and Southern Areas that Char will get once they farmout each of those regions. This will help understand the likely £P per region farmout each will add to the share price going forward....

[belisce6] 07/9/2013 13:13

anyone know how much the drill would cost in the northern block and much it would cost in the central block ? $100+mill or $70-odd mill ??

am asking cos i thought it would be over $100mill per hole, but tullow is putting potentially up to $130mill without a cap for 2D, 3D and first drill hole on pancontinental tenements... unless there is a misunderstanding in this info somewhere..

[f0rl0rn] 06/9/2013 21:11

Who laughs last, laughs longest 18.75 17 and lower after HRT duster

[andonis] 06/9/2013 21:05

Look how close to my blue line turned out to be....;-)

[hedgebetter] 06/9/2013 16:35

f0rl0rn - 4 Sep'13 - 10:22 - 3770 of 3790 0 0

17 by Friday


LOL

[f0rl0rn] 06/9/2013 15:50

....even if it all gets delayed for 6 to 12months, main thing is for them to get the farmin partner...---------------------------Entry point next year at much lower price.....

[kiwimonk] 06/9/2013 15:32

Schwarzenegger was seen in the Data Room - as he left excitedly he turned to one of the Staff and said "Oil be Back"
Funny Chap!