Chariot Share Discussion Threads

[tunnelking] 03/10/2018 16:15

Back into the 7s soon , confidence is strong then

[rogerlin] 03/10/2018 09:06

The odds are long but the prize is large.

[gunsofmarscapone] 02/10/2018 18:16

Yes, very narrow valuation gap. Few millimetres in this case.

[jotoha2] 02/10/2018 18:05

This company has had zero success with the drill bit , so if you like to gamble wait till results then you will still make 100% upside if they hit the sweet spot.


If they fail , which is most likely , then u are looking at a 50% downside ouch !

[mr hangman] 02/10/2018 10:37

One must buy into this "Value Gap"..

[gunsofmarscapone] 02/10/2018 10:13

Why not spread your risks Pro. Tbh I thought your total exit from Rkh was not ideal, on the cusp of securing export finance and lending from a banking consortium lead by a very large commercial bank. This is a pure and low value punt, Matd might be worth a £500 punt in the event of spud this year....

[rogerlin] 02/10/2018 08:43

GBP put a positive spin on things.

[pro_s2009] 02/10/2018 08:02

Yep, but the work program commitments only include drilling 1 well, this one, Prospect S.

Offshore drilling is really expensive and CHAR did not manage to farm down, so are paying 65% of this drill costs.

This is why their presentation says........ FUNDED PROSPECT S........but anything after that is only planning....... that means pending farm out, or fund raising etc...




Its essential they get an oil discovery here, hope they do.

[on target] 02/10/2018 07:25

From last financial results:"Robust Financial Positioning-- Placing and open offer raised net US$16.5 million in Q1 2018 - resulting in a cash balance of US$28.4 million as at 30 June 2018 with no debt.-- Cash and liquidity significantly exceed work programme commitments. "

[pro_s2009] 02/10/2018 02:40

Not an idiot.........CHAR have enough cash to pay for the ongoing Prospect S well. After that they dont have the cash to continue with any more wells.

If Prospect S hits oil, great, price rises, big placing at much higher price and off they go.

If Prospect S fails, price collapse and big placing at very much lower prices to fund the future.

They only have Prospect S as a funded well. Thats the trouble drilling without the funds for more wells in case the current one fails.

I do hope that they strike oil with Prospect S. They need it.

[vikingwarrier] 01/10/2018 21:13

There’s always one idiot

[squiresquire] 01/10/2018 20:36

I think we have to wait till after the placing for any price rise.

[vikingwarrier] 01/10/2018 16:42

Up and away!

[on target] 01/10/2018 16:02

Spud confirmed.

[neo26] 01/10/2018 12:18

mkt cap only 31m, surely this can double before the well results of prospects.

imho

[jimarilo] 01/10/2018 08:14

At least a spud rns due today

[pro_s2009] 01/10/2018 08:03

To correct.

The Pg (COSg) for CHAR Prospect S is 29%
The Pg (CoSg) for MATD Wild Horse is 20%

Those are the two Geological Chance of Success (GCoS = Pg = COSg)


The Pc (COSc) value for Prospect S is not given, WH has a Pc (COSc) value of 9%.

[jimarilo] 30/9/2018 21:49

Agreed, but we might multi-bag on the back of a Shell strike ;-)

[neo26] 30/9/2018 20:53

GunsofM

I like Matd they have the funds to drill a number of wells but i dont believe they will drill this year, its another 6-8 months wait.

Dont hold any at the mo

[gunsofmarscapone] 30/9/2018 12:43

Exactly

No one will ever multi-bag in Shell though. Neo Wild Horse is 9% but Pro appears not to believe in probability.

[neo26] 30/9/2018 11:51

There's is reason why all the majors are sniffing in this area, eventually someone is going to strike commercial oil.Oil has migrated somewhere.

[neo26] 29/9/2018 16:18

So is ther a chance early this week they can begin spud?

[neo26] 29/9/2018 16:15

GunsofMI thought Wild Horse had cos over 20%, i too believe matd wont drill anymore wells this year.Char has a mkt cap of 30m, it can easily double before the well results.Imho

[gunsofmarscapone] 29/9/2018 12:36

Agree OhIsay, terribly bad manners to remain away from this party. If anything 180p unrisked (those risked values are twaddle, I know how they are calculated but what is the point?)emotion could take it into orbit. The OP is heading northwards at a very healthy rate; in fact meta-evidence that US shale is not such a super flexible swing producer as we thought.

Sensible, small puntvestment. The only near elephant prospect this year yet to drill, unless Matd can complete (or even start) their Wild Horse well. Prospect S has slightly in excess of three times the geological chance of success of Wild Horse.