Chariot Share Discussion Threads

[filterwest] 29/3/2017 10:21

Sp is starting to move up. News soon. GLA

[vikingwarrier] 29/3/2017 08:04

Its appears this is the story
All back costs received, full seismic, sea bed coring done, 650mm bbl drill ready target,
Our partner Cairn could not Would not come up with the drill commitment in the allotted timeframe, due to their financial issues and cash spend freeze at the bottom of the oil downturn...
Both Chariot and Cairn opted to relinquish the license due to the fact a drill commitment could not be acheived in the remaining licence time frame.
It was done in a way where Chariot did not hack of the ministry and one would think the ministry would give Chariot first option if they wished to pick the licence up again for a further 3 year hold.
Is suspect when char receive back costs , which will come, C19 may well be a target..
It's drill ready and they really had high hopes for it, it was just Cairn Energy capex freeze which quashed it a year ago,,

[vikingwarrier] 29/3/2017 07:34

The above links to C19 no longer work. Anyone know the story behind this block?

[888icb] 28/3/2017 08:21

A good start to the day.

[vikingwarrier] 28/3/2017 07:30

hxxps://www.africaintelligence.com/AEM/oil/2017/03/28/chariot-oil--gas-makes-another-bet,108227736-BRE

[jotoha2] 24/3/2017 17:07

Majority of companies will always want to take back cost's as part of the farm in , and give away a higher percentage of future production, especially if they also get a free carry on future drilling , this is standard formula for exploration companies , Chariot will never become a producer , it's not their business model , they have the best skills in exploration for a small outfit.

[spandy83] 24/3/2017 12:50

Won't any cash return depend on the deal? Whether Chariot wish to keep a higher stake, who will take on future drill costs etc?

[vikingwarrier] 24/3/2017 08:14

Yes it is correct. I believe we currently have $169m outstanding in survey fees etc. When we find a partner for a farm out they pay us the money we have spent on that field to date on signing. Currently the belief is that the next farm out will net us $50m leaving $119m outstanding. Basically our cash pile will triple along with the share price hopefully.

[ianous] 24/3/2017 07:38

I've read here about that Chariot might be/will be receiving money back from previous drills/surveys, is this correct and if so why, how much and how likely is it??

Thanks

[vikingwarrier] 24/3/2017 07:18

15p is probably a good price to be consolidating with 20p the next price point. However if we receive news of the $50m farm out agreement then our cash pile rises to $75m and the share price should be 36p

[samdb] 23/3/2017 14:06

Was hoping for a pullback, added again today.

[a2584728] 23/3/2017 13:58

Cheap as chips here.

[jotoha2] 23/3/2017 13:46

Small sells again , with a few large buy's , some news required , come on Larry where is the farm out taking us.

[chestnuts] 22/3/2017 20:05

sqz as chatted about, i reckon we could have news tomorrow as i have a big cycle day

[vikingwarrier] 22/3/2017 17:36

Fair volume today. Nice to see a little consolidation. Would be good to see some news.

[jotoha2] 22/3/2017 17:29

Nice finish at end of trading , looking very positive for further rises short/ medium term , Barclays have it as a strong buy !!

[barvin] 22/3/2017 13:29

Good to see the comeback of many oil stocks.

BOR has seen a wall of sells over the last 2 weeks, all mopped up with no movement in the price. So either institutions or others are building a stake.

Although oil is taking a hit of late, 2017 is the rebound imo.

BOR is worth a look, totally opposite chart to Falkland oil peers, RKH and ARG.

[nick rubens] 22/3/2017 09:42

As the Eni drill gets closer, we'll begin get some real value assigned in the share price IMO. Before then we may hear of another successful Farm In.

[invisage] 21/3/2017 22:26

What's your Skype address ando

[andonis] 21/3/2017 20:43

I have sent you an email in ADVFN

[vikingwarrier] 21/3/2017 18:31

Yet not a single licence is assigned any value by the market.

[jotoha2] 21/3/2017 18:12

Must say what is interesting is that they managed to find a well in Morocco now valued potentially at $750 m at a cost to Charter of $5 m , pretty impressive !

[vikingwarrier] 21/3/2017 17:33

JAN17
Last 3 months has seen a 10 % day rate increase for 5th and 6th generation SSDRs coming on contract from Q2 17.. I expect slight increases to continue throughout the year.
I do not think we will ever get back near to the $ 800,000 per day for ultra deepwater new build units that we saw in 2013-14, however the rig market is improving and more importantly so are oil jobs..
I am seeng on LinkedIn now, more guys I knew out of work for the last 2 years finding new starts. Many however have left the sector for good, which potentially could lead to a sector shortage of experienced professionals.

Back to Chariot fundamentals,
We have over $ 115 million of back costs and value to recoup on our 3 geological areas, which will form the spine of any new farm outs we agree, this will be on top of any agreed equity we release for either a full or part carry on drill costs.
Backcosts - Namibian southern $ 50.1 mm, Namibian centrals 49mm, Morocco $4.6mm, ( coming back from ENI now) Brazil $ 13.3mm

Namibian South is next farm out for me, independently assessed as 10TCF ( 1.7 billion barrels) CPR by Netherlands Sewell , close proximity to the 1TCF kudo gas discovery,
Namibia hungry for gas. Gasprom and mitsibushi itochi partners in Kudo, both progressive and aggressive developers, currently not enough in place to develope... our potential 10TCF is close by.

Namibian centrals will be a completely different ball game when data room reopens after full release of the new cutting edge 3D seismic results shot over 2,600 km.. this extent of data acquisition during the biggest sector slump in history is unprecedented for any junior spec oiler , the results when released could // should both A increase probability of success and B increase resource potential on a number of plays, prospect B , Prospect D and the very exciting 085b, we could potentially be looking at a very large multi billion barrel combined resource in the centrals with increased chance of success...Jimmy likes the centrals very much. Full 3D results due imminently.

Brazil...refer to the signing costs made by shell for the blocks adjacent to our blocks in the Barreiinhas basin,($100 mm +) this will confirm how hot this area is and what a great piece of business was done by Chariot, multiple wells to be drilled this year in the basin in a return to exploration .. the board has now been fully vindicated for telling Azilat to shove it with their ransom change of terms. These blocks are all ours 100% ....we are not held ransom by anyone .All 3D is ours and costs and potential signing bonus will come back to us on farm outs. Early 3D shows we could potentially feed Shells block. Full 3D results due imminently

Morocco..RD 1 drill within 12 months, all well tangibles confirmed ready to go, EIA ongoing, rig selection likely done or near .. 800 million barrels potential , 80 million net to Chariot , $ 2 Low NPV , 160mm / 70 cents per share, very high COS for an exploration drill, high success case collaborated by both ENI and Woodside, massive follow on plays in our blocks both in Rabat deep and Mohammadia (75% owned by us)

A lot to like ..and we trade at near cash in bank of 25 million, no debt, low shares on issue, many of which are tightly held.
back costs) "As at 31 December 2016 the net book values of the five cost pools are Central Blocks offshore Namibia US$49.8 million (31 December 2015: US$44.5 million), Southern Blocks offshore Namibia US$51.0 million (31 December 2015: US$50.1 million), Morocco US$5.0 million (31 December 2015: US$4.1 million) and Brazil US$13.9 million (31 December 2015: US$4.8 million)."