Chariot Share Discussion Threads

[ileeman] 30/1/2018 20:01

What makes you say that?

[vikingwarrier] 30/1/2018 15:01

Yes spud date could be end of feb

[squibno1] 30/1/2018 13:31

drill rig to come early because of issues re Turkey and Cyprus?

[andonis] 26/1/2018 13:35

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[vikingwarrier] 23/1/2018 17:04

A coiled spring

[ileeman] 23/1/2018 12:06

Bull flag consilidation pattern? Trending in a range for a few weeks now.

Breakout to new highs soon?


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[caters] 21/1/2018 21:10

Volume on Friday was odd - someone selling out yet strong buying. Big volume.

LSE chatter is that something may be announced this week regarding farmouts in Namibia.

[caters] 21/1/2018 12:46

Has Chariot ever stated the 'chance of success' probability for Prospect S in the Central Blocks offshore namibia?

Recent RNS states "...is targeting the drilling of Prospect S in the second half of 2018".

edit: I've just seen VW's post about 20 posts ago stating that Prospect S has a CoS of 30%. Thanks for this info.

[vikingwarrier] 21/1/2018 11:25

I think the opening tomorrow will be interesting after that chunky 325k buy at 23.75p on friday.

[onjohn] 21/1/2018 10:12

waited for this day for an age

[vikingwarrier] 21/1/2018 10:10

There is no set plan as yet. Except q4 this year using Tullows rig. Partnering not yet agreed. RD1 is the short term key possibly 100p pre spud.

[jimarilo] 21/1/2018 09:53

When is Namibia due to spud ?

Anyone know what rig is being use yet ?

[vikingwarrier] 19/1/2018 11:53

NIce easy profit to be made this morning. Hope you all managed to buy on the dip.

[huntie2] 19/1/2018 11:31

Damn! And I wasn't nimble enough! Or rather I was a bit too mean on my buy order!

[ileeman] 19/1/2018 10:43

Yea strange selling, rich amateur selling on open market. Should be out very soon at this rate.

Added a tad under 100k sub 20p.

Think things are gonna pick up as we head into the pre drill window. All eyes will be on this considering the scale of the drill.

[vikingwarrier] 19/1/2018 10:23

Yes a big seller creating opportunities

[ileeman] 13/1/2018 16:38

"Mostly because by then we would have further news on others drills etc."

Given they have many drills lined up realtively short term this is not a one trick pony.

Profit is good but no reason to sell given more and more will join the party as drill draws closer. Valuation on RD1 success is enourmous and then add in value for their other prospects targetting large recources.

People see profit and sell I look at the catalyst driving the share price and that catalyst will only get stronger. I think this could quite easily double pre spud and thats without farm in news.

Great post by the way.

"If oil rises to $70 extraction costs should remain at $30 but say they increase to $35 then we would have a $35 profit per barrel. Three times the current Peel Hunt assesment which could mean the uplift in oil prices leads to an increase in RD1 of 360p a share."

[vikingwarrier] 13/1/2018 16:26

If RD1 is a dud then I expect a fall back to 15-20p. Mostly because by then we would have further news on others drills etc.
A profit is always good but I do believe there is far more profit available here. Good luck and maybe buy GKN?

[jotoha2] 13/1/2018 16:18

Viking w , of course if RD1 is a dud then where will the share price be, I have taken my £50k profit and will follow with interest , best of luck.

[vikingwarrier] 13/1/2018 16:02

Here's what could happen this year.


1Q18:

Farmout of Kenitra & Mohammedia 20% for US$7m
Chariot now with 55% in RD-1 follow on potential blocks

Farmout Namibia Centrals 30% for US$15m
Chariot stays operator with 35%
Estimated well costs US$25m (US$8.75m net to Chariot)

Spud of the 768mmbbls RD-1 well in Morocco with
77mmbls and 1.25bnbbls follow on potential net to Chariot

Chariot share price end of Q1: 37p

2Q18:

Release of independent audit of resource potential in Brazil
Confirmation of the migration and spill over in the 200km3 structure
originating from our blocks in to Shell blocks to the North
Drill-Ready prospect with 526mmbbls
Partnering process initiated

Announcement of Spuddate for prospects S in Namibia:
To be drilled end of 3Q18 with Chariot as operator
Drilling Rig secured and shared with Tullow oil
who will be drilling in 4Q18

Significant Oil discovery in Morocco!
32 metres of net oil bearing reservoir in Jurassic age carbonates,
A gross oil bearing interval of more than 500 metres,
No oil/water contacts were encountered,
Distinct oil types ranging from 27° API up to 41° API
from a number of oil samples recovered to surface.

Chariot share price end of Q2: 198p

3Q18:

Farmout of Kenitra & Mohammedia 20% for US$26m
Chariot stays operator with 35%
Estimated well costs US$25m (US$8.75m net to Chariot)

Spud of the 459mmbbls S well in Namibia with
161mmbls and 754mmbbls follow on potential net to Chariot
Operated by Chariot with a 35% interest

Chariot share price end of Q3: 235p

4Q18:

Announcement of Spuddate for Kenitra in Morocco:
To be drilled beginning of 2Q19 with Chariot as Operator

Significant Oil discovery in Namibia!
35 metres of net oil bearing Upper Cretaceous age reservoir
A gross oil bearing interval of more than 350 metres,
No oil/water contacts were encountered,
Distinct oil types ranging from 32° API up to 41° API
from a number of oil samples recovered to surface.

Chariot share price end of 2018: 426p

[vikingwarrier] 13/1/2018 09:42

We currently have Peel Hunt valuing RD1 at 87p per share. This was at a time when oil was $42 and extraction costs of say $30/barrel were used? Meaning $12 profit per barrel. If oil rises to $70 extraction costs should remain at $30 but say they increase to $35 then we would have a $35 profit per barrel. Three times the current Peel Hunt assesment which could mean the uplift in oil prices leads to an increase in RD1 of 360p a share.

[ileeman] 12/1/2018 17:31

Excellent post, reading that and looking where the share price is currently it looks to me we are only getting started.

CHAR the potential to bag many times over in the next 12 months.

[dingo75] 12/1/2018 16:37

Excellent encapsulation VW
Looks a nailed on £1 a coming.

i'd imagine further partnering in Morocco before ENi turn the Drill.
Great Potential there and Brazil, v much a clever move to move in there and land grab by Sir Larry.

Good Luck All for 2018, should be a bloody good one.

[vikingwarrier] 12/1/2018 15:46

Morocco-. Rabat deep .RD1 / JP1 spud circa 20-26th March Saipem 12000 6th gen dril lship.. as latest info going by Saipem 12000 current progress in Cyprus.
770 million barrel basin opener. Fully cost covered by ENI.
1.5 billion barrel resource follow on prospects ...

Morocco - Kinetra. Adjacent to Rabat deep....Partnering process ongoing. Circa 464 million barrels in the first target .... follow on potential 500 million barrel resource .... News could come potentially any time...chariot equity 75%

Morocco - Muhammadia adjacent to Rabat Deep., partnering process ongoing. circa 384 million barrels in first target.. follow on potential circa 300 million barrel resource News could come potentially any time..Chariot equity 75%

Namibia. Centrals - Prospect S 470 million barrel very high COS circa 30% target, follow on potential circa 1.5 billion barrels. Chariot equity 65%.
Partnering process ongoing, RiG synergy process on going potentially with Tullow who will drill their 140 million barrel 21% COS Cormorant prospect Q3 18.
Company states will drill second half 2018.... News could come potentially any time..

Namibia Southerns - potential 12TCF gas resource around existing field.
Chariot have zero cost option to come in for 10% equity due to past work undertaken on the block by Chariot....

Brazil - 200km structure identified and subject to ongoing third party CPR ( Netherlands Sewell) from recently completed and interpreted 3D , large prospect identified updip from Shells neighbouring block which they paid circa $ 90 mm signing bonus....
Potential of up to 500 million barrel target with similar follow on leads, in one of the hottest exploration regions on the planet .... Partnering process will commence when independent CPR released, due to begin partnering process H1 18... News could come potentially any time ...
Chariot equity 100% .....

Circa $20 mm cash In bank...
Low 264 million shares on issue...many tightly held..
Circa $100 mm of potential backcosts could be recovered on farm out terms..
All facts as available on market domain...
2018 the year of Chariot oil and gas...

[squibno1] 12/1/2018 14:15

As BP and Petrobas got involved in Chariots last drill off Namibia I wonder if they would be keen to return.