Chariot Share Discussion Threads

[jungmana] 05/4/2019 08:16

This new gas project is very exciting. 900billion cf of gas in the discovery. Low risk project that could bring in cash quickly

[vikingwarrier] 05/4/2019 08:12

We have a large buyer here

[jungmana] 05/4/2019 08:11

I agree there Viking. Right now we are valued about cash level alone. Everything else in for free

[toogood4me] 05/4/2019 08:07

On what basis???

[vikingwarrier] 05/4/2019 08:06

Yes 6-9p is a reasonable target here now

[jungmana] 05/4/2019 08:05

Up we go. May see 6p today folks. Finncap have a target of 155p. Yes 155p

[jungmana] 05/4/2019 00:54

https://www.brrmedia.co.uk/broadcasts-embed/5c9b545aec650d01c34f4944/chariot-oil-and-gas-&playeronly=true

[jungmana] 04/4/2019 19:02

https://youtu.be/_thwrZYH52A

[jungmana] 04/4/2019 18:59

https://www.proactiveinvestors.co.uk/companies/news/217838/chariot-oil--gas-expands-morocco-footprint-with-acquisition-of-lixus-licence-217838.html

[jungmana] 04/4/2019 17:20

MALCYS BLOG;

Chariot Oil & Gas

A most interesting move by Chariot this morning as it announces that it has been awarded the Lixus licence offshore Morocco. Lixus brings a gas discovery, Anchois-1 with 307 bcf of contingent resources in gas sand A and gas sand B whilst gas sand C in the deeper potential adds another 116 bcf making 423 bcf in the vicinity. Anchois and its other satellites are an amplitude-supported discovery and prospect inventory with remaining recoverable resources of >900 Bcf whilst the eastern area prospects add around 800 bcf.

So, phase 1 with four production wells gives production from the original 307 bcf at 70 mmscf/d over ten years and adding the extra 116 bcf to make 423 bcf would take production to 90 mmscf/d. Phase 2 adds another 674 bcf and 90 mmscf/d for twenty years. This makes this project highly appealing and potentially very profitable.

The only commitments at this stage are a seismic campaign at a cost of <$1m which would lead to an Anchois-2 appraisal well, currently scheduled for 2H 2020. With such a high percentage of the licence, (75%) it is clear that Chariot will seek to find ‘strategic partnerships’ for funding of the longer term process but this should be a good deal easier than in previous high risk wells. With a very strong gas market in Morocco with high prices and a supportive Government to cut down on fossil fuel imports, the potential pool of investors is substantial and brings in many new institutions.

With both these thoughts in mind, Chariot have Netherland Sewell completing an up-to-date CPR and will have a gas market analysis within 3 months. Overall this looks good to me, Lixus brings what should be a marketable discovery with lots of potential upside, more importantly it changes Chariot’s risk profile which needed doing. The company will continue with other parts of the portfolio but this brings a bit lower risk and more balance, maybe the right thing to be doing right now.

[phoenix equity] 04/4/2019 16:30

Ill go for extended trading rns and close at 4.1p

[jungmana] 04/4/2019 16:28

See the buys flooding in. With 4p cash level, Imo short term this is heading to 7p+

[undervalued companies] 04/4/2019 15:54

Well done on chariot lot of tweets @chrisoil Twitter

[babbler] 04/4/2019 15:20

nope you may as well never look at it again then... bye!

[jungmana] 04/4/2019 15:04

Whichever way you look at it this is a no brainer under 5p. Cash level is nearly 4p equivalent and the new asset is valued at 20p+. Add the numerous other licences and projects

[mr hangman] 04/4/2019 14:59

Getting on the leader board sure attracts the losers

[vikingwarrier] 04/4/2019 12:17

Nothing will happen for 2 years

[clontarfenergy] 04/4/2019 11:24

so this is what Private Investors have been buying...

not my CLON.

[gregpeck7] 04/4/2019 10:09

Agree bloe looks very good. Suspect there will be some trades flowing over from here later as this gets toppy... bloe about to move up again so a good trade.

[toogood4me] 04/4/2019 08:49

Suggest you folk look really do read up on this oneBLOE ARE DELIVERING REAL OIL 1100 per day2nd well in progress Gas to come as wellUnder 20m Mcap Dyor this will be

[ileeman] 03/4/2019 19:35

I agree to an extent and always take broker notes with a pinch of salt but a discovery of that size is worth a huge amount to Chariot, not sure how they managed to get it but they did.

With this appraisal/discovery their portfolio is impressive, all time low shareprice with cash more than cap downside has to be minimal whereas upside could be blue skies. Market must be switching on now.

[pireric] 03/4/2019 19:05

Doesn't make a great deal of sense. Sounds like they got the licence with "minimal commitments" so lets say $2m, and then Finncap immediately go and value it at 20p = >£70m

Logic. But would caveat all risked numbers around resources are absolute tosh

Still, cash balance here pretty much underpins these levels and potentially 10-15% higher so all fine. But just beware newbies to O&G investing that, in the small cap O&G space, broker forecasts and target prices are absolutely useless

[ileeman] 03/4/2019 17:53

Finncapp note out 37p target they give a 20p risked valuation on just the discovery, given the cash and todays news are we about to see the start of the rerate?

About time.

[ileeman] 03/4/2019 16:00

$19mil cash vs £10mil cap yearly cash burn $4million

Todays news is significant in its own right and a great tactic by the company entering appraisal market to supplement exploration.

Cash value 3.75p, how much value does todays news add.

Easy hold/buy for me, lets see what happens.

From todays webcast
"These volumes are significant...By acquiring Lixus, we've essentially secured a 70 million barrel oil equivalent Discovery)"