Chariot Share Discussion Threads

[ileeman] 11/10/2018 08:11

Speed of drill and looking at peers, you would assume cost of drill came in much much less.

$15million cash gives a share price of 4-5p with no value given to the prospects in 2019...maybe a buying op there.

[pro_s2009] 11/10/2018 08:10

In the price ?

They only have 12m US$ now.........not enough for any more drills. Placing time now....Fundraising.

If they try to farm out with so little cash, the farm in partners will hammer them and offer minimal.

Now a good place to be for CHAR now.

[888icb] 11/10/2018 08:08

This outcome was in the price so move on nothing to see here until the next drill.

[pro_s2009] 11/10/2018 08:01

They will have LWD (Logging While Drilling) and so will know its water.......no need to slow down if you drilling through water.

Thats why its so quick.

[rayrac] 11/10/2018 08:00

To get through more than 4 thousand mtr in that short time, must mean it’s like drilling into a suet pud!

[pro_s2009] 11/10/2018 07:57

No GoM.

Biggest risk/reward is MATD and Wild Horse-1. 480MMBO and 100% owned.

Why are we avoiding CHAR...........now you know why.


GunsOfMarscapone
9 Oct '18 - 19:25 - 5669 of 5684

Can never understand why the Bpc or Matd crowd are mostly avoiding this well. Probably the biggest risk reward drill this year.

[wisecat2] 11/10/2018 07:45

Board should do the right thing and plug Larry and abandon him.

[pro_s2009] 11/10/2018 07:41

Pretty much expected really for CHAR and that area of Africa - MATD (Petro Matad) is the ONLY big oil drill coming in 2018 with Wild Horse-1 (100% owned).

Worth 320p a share unrisked based on the Pmean 480 MMBO size in the success case.

[rayrac] 11/10/2018 07:37

It’s certainly not a prolific oil bearing area! :(

[encarter] 11/10/2018 07:33

What a shame, this would have made a great story and would have help bump up the share price of the other oilers in the area. Still plenty more fish in the sea, but no oil.

[ohisay] 11/10/2018 07:25

Indeed gross well costs were slated to be 20 to 25 m$ so on the lower number well cost for Char 13m$ End June cash was 28m$

[bigsi2] 11/10/2018 07:09

Some info on cost of drill would be nice- the only positive from that RNS will be the short number of days drilling. Hopefully some cash left

[bigsi2] 11/10/2018 07:08

Early poor results.

[jotoha2] 10/10/2018 09:00

Quite right Exxon have a hit rate of nearly 55% , now compare that to Charter , ouch. It's all about the expertise , and am afraid Charter have very little of that.

[rayrac] 10/10/2018 08:31

Exxon are immediately north of Char’s blocks. So if we get a find/dry hole, then Exxon will be much wiser?

That doesn’t seem fair? Perhaps char should have waited on Exxon moving first?

Btw, Exxon are very good at finding the black stuff, so perhaps it bodes well!

[jimarilo] 10/10/2018 07:53

I notice this morning the West Eclipse in Walvis Bay has a tanker pulled up, must be taking fuel on-board

Also noticed the Bourbon Diamond has recently entered the quay side at Walvis Bay, joining the Bourbon Explorer, which has been in the bay since the West eclipse

Might be Shell time soon ?

[jimarilo] 09/10/2018 23:58

Shell have two wells to drill PEL39 this year

[gunsofmarscapone] 09/10/2018 23:14

Yes, won’t last. A burst of deepwater exploration is imminent. No reserve replacement of any meaningful level.

[jimarilo] 09/10/2018 20:18

Rig rates were over 4 times of that today when TRP drilled the Welwitschia-1A well

Char paying $139/day for the Poseidon, hence the increased deep water exploration activity

Seems there is a bit of a stir going on, here is some drilling data and time lines

[ride daice] 09/10/2018 19:49

It's rather tantilising though isn't it ???



I am a cautious entrant into GBP as a result.

[gunsofmarscapone] 09/10/2018 19:25

Can never understand why the Bpc or Matd crowd are mostly avoiding this well. Probably the biggest risk reward drill this year.

[rogerlin] 09/10/2018 19:13

It is modern technology so we have to be a little bit careful how we interpret it but such strong hydrocarbon indicators on something this size - it is glowing in the dark. We have never really seen anything like it and hopefully it will be real.

I don't think anyone will use that particular phrase again.

[ride daice] 09/10/2018 18:05

The TRP episode left me with the feeling that they ran out of cash and that there was unfinished business deeper. That might just be to the advantage of GBP should they be able to farm out.