Chariot Share Discussion Threads

[vwnige] 24/3/2014 21:17

Great watch.......


[...]

[hedgebetter] 24/3/2014 15:09

Thanks .. good!

[flyfisher] 24/3/2014 13:37

hxxp://www.fastnetoilandgas.com/~/media/Files/F/Fastnet-Oil-and-Gas/analyst-coverage/March%202014.pdf

[hedgebetter] 24/3/2014 12:13

Excellent. Do you have a link?

[dimtim1] 24/3/2014 10:10

ALSO: ............. Finncapp upgrade today

[flyfisher] 24/3/2014 09:00

The rise this morning seems to be on the back of an RFC ambrian note on sub Sahara oil and gas, it gives current fair value of 63p , with big upside.

[888icb] 24/3/2014 08:30

Good start this morning

[highlander7] 20/3/2014 06:13

Latest from Malcy

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Chariot Oil & Gas

I was pleased to be able to have a long one on one chat with Chariot CEO Larry Bottomley last week as having been bearish for so long I felt recently that things had changed round there and it was time to turn more positive on the stock.

Larry is not the only new kid on the block round at Chariot as, in a significant restructuring of the board, some very impressive faces have appeared at exec and non-exec level. With people like George Canjar, Bill Trojan and Dave Bodecott as non-execs advice will be plentiful.

The old guard having spent the last couple of years betting the farm on what turned out to be overly high risk opportunities in Namibia, the new management has expanded into other geographies whilst keeping the 'elephant hunting' mantra alive but with considered and hedged risk. The company are still looking for high quality, high potential opportunities and in their 8 licence regions they are operator in all but one. In order to be able to convert early stage risk taking into a disciplined approach to capital spend, the company has a firm view as to when in the phases of the exploration programme to invite partners to offset the costs, this is proved by the farm-out to Cairn last year. Thus the end 2012 cash position of $68.3m was depleted by $38m of exploration spend but added to by farm-out proceeds of $26m leaving the company with end 2013 cash of $58m. (Market cap $76m) Thus the exploration budget for 2014 of $33m before farm-outs is comfortably covered and all contractual commitments and planned work programme into 2015 are fully funded.

The geographical spread at Chariot is now, although high risk, also high quality and spread across four countries albeit displaying a penchant for the Atlantic margins. This portfolio theme is not new but clear as Morocco, Mauritania, Brazil and Namibia are the selected countries for new and emerging basins which Chariot have identified and have large positions in. The range of risk is broad but manageable and certainly not the bleeding edge as it was when Namibia only. It is also interesting that there are around 27 third party wells to be drilled on adjacent acreage before the next Chariot well, again demonstrating some de-risking of their own portfolio. Success in any of these areas should lead to successful partnering and creation of value as per the new model and in some cases play opening wells might be company making on their own. With a third of the portfolio drill ready and with few, if any remaining commitments outstanding, the company looks to have offset the risk pretty well, although the target of zero cost exploration is not possible over the whole portfolio, with successful partnering most bases are covered.

As for the recommendation I see Chariot as a most interesting play, it is less risky than it was but not without potential and with partners coming on board over the next year or so the upside is extremely visible. There are very few institutions on board as many were scared off by previous management and drill bit failure, I expect that to change once trust is regained. Also if you take away the company brokers there are only three buy recommendations in the market, this proves that as of yet most have not got round to doing any work on the company, when they do I suspect they will realise that they are living in the past. It can be argued that there is no great hurry for Chariot as quite a lot of the drilling excitement may be 2H 2014 or 2015 but the partnering process is already under way and don't forget all those adjacent wells which will have a knock on effect for the home team. I think that with this new team at executive level, a strong geotechnical team and good non-execs the risks may well be not holding Chariot, so I make it a strong buy for a long term opportunity to benefit from a potential massive uplift in shareholder value
- See more at:

[hedgebetter] 19/3/2014 16:13

hxxp://www.helioschariot.com/2014/03/19/chariot-final-results-presentation/

hxxp://www.helioschariot.com/2014/03/19/chariot-malcys-blog/

[dimtim1] 18/3/2014 08:26

RNS NEW LICENCE http://www.investegate.co.uk/chariot-oil---38--gas-ld--char-/rns/award-of-mohammedia-reconnaissance-licence/201403180700075152C/

[r9505571] 11/3/2014 11:55

Interactive investor sent sent an email on Friday stating a 29% bullish move possible. Have to say they don't always get it right but spot on with this one. Trade ideas are based on Technical Events identified by research provider Recognia Inc.

Hopefully something in this or I will cry!

[hedgebetter] 11/3/2014 11:54

This is II's ...

[david brent] 11/3/2014 11:37

I just hope it's not a p&d.

[r9505571] 11/3/2014 11:25

My spidey senses were telling me to buy this stock for some time but of course I always get in on the spike! Let,s just hope it's the bottom of the spike! Picked up a nice even number of 22,222. Are we looking at a farm in, drilling commencing or sympathy rise cos of TRP?

[labatie] 11/3/2014 11:09

CHAR are one of the sponsors of AppexLondon 2014, and will be presenting this Thursday morning, March 13th, in a session devoted to Africa.

Appex started today, Tuesday.

hxxp://www.appexlondon.com/2014/sponsors.cfm

[bullinachinashop3] 11/3/2014 10:47

ok thanks guys, but lots of small oilers have dusters and dry wells and no rise in anticipation...

[belisce6] 11/3/2014 10:20

also... char been bottoming out for quite some time... so any move like this means potentially getting some short-covering... but yes... nearby chars southern licences there have been new entrants, as well as the imminent repsol/trp drill...

[mariopeter] 11/3/2014 09:41

Sorry repsol and trp drilling next door. Source rocks found already.

[hedgebetter] 11/3/2014 09:41

Bull - here - hxxp://www.helioschariot.com/2014/03/09/chariot-summary/

[mariopeter] 11/3/2014 09:35

trp drilling next door imminently