Chariot Share Discussion Threads

[caters] 26/2/2018 22:10

You'd think so, wouldn't you? I have lost count of the number of placings where - to my horror - the share price has traded under the placing price.

It happens so often, I now find it better to wait for that to happen and just give a little shrug if it doesn't.

But anyway, dyor, imho, etc

[neo26] 26/2/2018 21:04

tunnelking

you talking balone..

[tunnelking] 26/2/2018 16:18

10p might be pushing it lol .certainly see it being at 12p though.i think most will get the chance to buy on the open market at 13p without subscribing.

[jotoha2] 26/2/2018 16:10

Happy to take 1/2 million at 10p

[tunnelking] 26/2/2018 16:08

It will also be interesting to see what the placing share price is in the end ,I think it will be lower than 13 ,Larry was just reacting to the leaked news in the tweet and can't be trusted. Keeps his gravy train going though ,God bless him !

[tunnelking] 26/2/2018 15:55

I see it at 13p in the coming weeks ,and once 115mil extra shares are in circulation it becomes a traders wet dream for the foreseeable.Not what I want as a long term holder but it's what it is unfortunately.

[vikingwarrier] 26/2/2018 15:24

I reckon we will remain at 15p for a couple of weeks

[tunnelking] 26/2/2018 15:08

With the placing subject to GM,at the end of March,are we really likely to see a share price increase before RD1 .once 115 mil shares are added ,every small rise will be sold into as the mates rates shares get sold off for quick profit .

[rayrac] 26/2/2018 15:06

Aside from the placing, what cash have they? To drill Namibia must cost something like $50m, surely they cant go it alone?

I’ll have a go at the placing, but with not much enthusiasm. :(

[xxnjr1] 26/2/2018 13:54

I just think it means "S" isn't terribly exciting to potential farm in partners who have seen the data. (GBP may have the same fate)

[jimarilo] 26/2/2018 10:53

I always said there was competition for a farm out deal, as GBP are looking for one as well

GBP probably the cheaper deal, risk/reward wise for a sutor

[caters] 26/2/2018 10:16

I think there is going to be a problem with the Morocco drilling (Saipem 12000 getting stuck in Cyprus) and there's going to be a drillship ready stacked in Namibia waters, so I think LB thought that, despite having no partner for the Prospect S in Namibia, he'd go for it anyway otherwise they're toast with no drilling.

[soulsauce] 26/2/2018 10:13

Well I have seen some bad raisings in my time but 13p when the share price was recently 22p is just ludicrous. Feel for you guys, it stinks.

[nick rubens] 26/2/2018 10:12

I wonder if the market will forgive them as the Moroccan drill gets close to spudding.

Does feel like a kick in the teeth though. If Morocco comes in then no doubt this will all be history and fogotten.

[tunnelking] 26/2/2018 09:55

Massive dilution,another kick in the teeth for long term investors.

[caters] 26/2/2018 09:52

That drillship that's going to be ready stacked in Walvis Bay looked too good to miss, by the sound of it.

Well, one to load up on closer to the time :-)

[wisteria2] 26/2/2018 09:50

funded that's the good news !

[caters] 26/2/2018 09:49

I can't believe that Chariot is going for another unpartnered drill in Namibia.

Edit: Have I got my facts right - do they have partner for Namibia yet?

[bageo] 26/2/2018 09:48

huge discount

[vikingwarrier] 26/2/2018 09:48

Shambolic!

[neo26] 26/2/2018 09:46

Another discounted placing on aim..

[wisteria2] 26/2/2018 09:44

Chariot Oil (LSE)















Chariot Oil Share News (CHAR)



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Share Name

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Chariot Oil LSE:CHAR London Ordinary Share GG00B2R9PM06 ORD 1P





Price Change

% Change

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Offer Price

High Price

Low Price

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Last Trade

-4.25p -20.94% 16.05p 15.80p 16.50p 20.90p 16.05p 20.90p 3,540,309 09:24:25



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Oil & Gas Producers 0.0 -5.4 -2.4 - 43.15

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Chariot Oil & Gas Ld Statement regarding media speculation

26/02/2018 9:37am

UK Regulatory (RNS & others)



Chariot Oil (LSE:CHAR)
Intraday Stock Chart

Today : Monday 26 February 2018
Click Here for more Chariot Oil Charts.
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RNS Number : 9001F

Chariot Oil & Gas Ld

26 February 2018

26 February 2018

Chariot Oil & Gas Limited ("Chariot", or the "Company")

Statement regarding media speculation

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, notes the recent media speculation and confirms that it is in advanced stages of completing a new equity fundraising (the "Fundraising") to provide funds to allow the Group to deliver a second well within the near term comprising the drilling of Prospect S in Namibia, in addition to the carried drilling of the RD-1 well in Morocco by Eni.

The Board can confirm that it is looking to raise approximately US$15.0 million by way of a conditional placing as well as an additional up to approximately EUR5.0 million by way of an open offer (together the "Fundraising"). It is expected that the Fundraising will take place at 13 pence and the Company will make an announcement with further details in due course.

Larry Bottomley, CEO of Chariot Oil & Gas, said:

"This fundraise will represent another major step forward for Chariot, and one which allows the Company to participate in two giant-scale wells in this calendar year whilst capturing the bottom of the cost cycle for drilling. Success in either well would be transformational, and would also de-risk significant additional portfolio in the relevant licence. This comes after continued investment throughout the portfolio during the industry downturn which has allowed Chariot to build a drilling and prospect inventory of giant-scale opportunities. We will continue to progress operations in Namibia to drill Prospect S in H2 this year to benefit from synergies with third-party operations, and, in combination with our other partners, we continue to support Eni in their operations on the RD-1 well in Morocco which is scheduled to spud in March 2018.

This demonstrates that the equity markets support Chariot's investment thesis, which is in part a testament to our performance in risk management, delivered through our excellent in-house technical team, and our continued focus on capital discipline. We look forward to welcoming new investors and are grateful for the continuing support of existing shareholders who have the opportunity to participate through the Open Offer. We appreciate both groups for supporting Chariot in a very exciting near-term drilling programme as well as for the continued development of the Company's broader portfolio in Brazil and our other permits in Morocco."

[nick rubens] 26/2/2018 09:44

At least we can take up a few at 13p in open offer.

[neo26] 26/2/2018 09:43

Wtf is going on here... June they had over 20m, they only have 10% share of well and that is carried