Chariot Share Discussion Threads

[hedgebetter] 08/12/2013 13:17

Clump - you really are a chump, or maybe even a chimp ..certainly not a champ!

[clumpweight] 06/12/2013 07:39

Bell,

Wring, you have just lost more money.

BP will not let CHAR do anything, not even in 2014.

The best we can hope for is a lifting of the news black out in 2015.

Sell.

[belisce6] 05/12/2013 16:51

dont know.. i am currently riding the trp leg up, and will keep holding on... have increased or doubled down in char... think that char has too much juice in its projects to remain so low for too long...

[ghhghh] 05/12/2013 16:28

Chariot will have net cash/current assets 2013 YE equating to 17p a share.

Cairn farm in to Mauritania values Chariot's remaining 55% at $40m or 12p per share. The plan is for Chariot to farm down this 55% for free carry on a well.

Attractive acreage in Morocco with third party drilling in both Mauritania and Morocco to validate prospectivity.

Add that lot together (plus early stage Brazil) and Namibia in for free.

Re Namibia, the big interest is in the Central Licence where CHAR have 90% after 3D seismic. With 90% they are in a much better position that say Global who will have to give away large % just to get 3D seismic (as Serica have did, Serica will only have 15% if BP commit to drill).

The Wingat result and the $130m Tullow farm in to Pancontinental's Central Licence has given grounds for optimism that Chariot can achieve a farm out. The data room is open and process going well according to Chariot.

Chariot's Southern and Northern Licences might be of value if third party drilling success (BP/Repsol) generates excitement.


In comparison Tower has bounced to 4.1p, market cap £110m (was $135m earlier today)

Principle asset 30% of Welwitschia-1 which is a Repsol well due to be drilled in Northern part of Namibia April next year.

Tower have c. $18m cash yet Welwitschia-1 will cost $80m - $120m ie TRP's share could be up to $36m.

They have said that 'selling' 10% so that should yield some spare working capital post drill.

However in a bear market where every other small explo company's blue sky upside is ignored, Tower is pretty much ALL blue sky at £110m. Admittedly Welwitschia is a potential humdinger with massive upside but this still leaves the second anomaly.

How can Chariot's Namibian acreage (specifically its drill ready Central Licence) be worth zilch if Tower's is worth £110m?

[mariopeter] 03/12/2013 14:08

My apologies its actually Repsol and Arcadia.

Lets hope they can find some rock that can contain the oil .

[belisce6] 03/12/2013 13:50

"and BP" ?? where is that part ??

[mariopeter] 03/12/2013 13:17

Tower and BP drilling end of March in Namibia.



LONDON--Tower Resources PLC (TRP.LN), an AIM-listed, London-based, independent oil and gas exploration company with a regional focus on sub-Saharan Africa, said Friday the arrival of the Rowan Renaissance Drillship in Walvis Bay, Namibia, will be delayed by one month and will now arrive March 23, 2014, adding that drilling of the Welwitschia-1 well is now expected to start at the end of March 2014.

MAIN FACTS:

-The Welwitschia-1 prospect is targeting net risked recoverable resources of 496 million barrels of oil equivalent to Tower's 30% interest.

[andonis] 30/11/2013 00:33

Back to invi

[andonis] 30/11/2013 00:33

Back to invi

[qipincha] 30/11/2013 00:20

Hi Andonis,

nice post! thanks.

[invisage] 29/11/2013 22:54

Ando

Do you mean GBP : USD can hit 1.70 or are you saying it is likely to retrace back to 1.60 ?

thanks

[andonis] 29/11/2013 12:33

1.60 invi is poss

[belisce6] 28/11/2013 08:48

hxxp://www.petro21.com/events/?id=790#!lang=nl

the chariot is exhibiting :-))

[invisage] 27/11/2013 20:03

Ando

GBP : USD broke resistance at 1.625 today, what are your views over the next 1 and 3 months please?

thanks