Chariot Share Discussion Threads

[hsfinch] 23/11/2020 13:42

I promised a bit of digging on this pump n dump situation. Here it is: https://www.mees.com/2020/9/11/corporate/morocco-gas-development-dont-hold-your-breath/62206900-f435-11ea-8db4-7f54f7a2aa5aIt's from a couple of months back but confirms that my 6 reasons off the bat weren't far wrong. I've no fiduciary interest here coz I think I've missed the boat on a juicy short. But I will keep an eye on this and the many other 'special situations' in the oilie nethers of our stock markets.

[brazilnut1] 23/11/2020 12:33

So whats happened here ?. No news that I can see to make it fall 40% in last few sessions.

[anangf] 23/11/2020 11:40

Not looking good.

[justtrying1] 23/11/2020 11:30

Finally some reality dose for this rising dog

[hsfinch] 20/11/2020 19:59

If you've doubled your money, why not dump. Coz when folks realise there ain't gonna be a small deep water gas development feeding a country with plenty of alternatives, the share ain't gonna be worth tiddly squat. It's concerning that aim oilies like this can be pumped up to 5 baggers so easily. If you made money, bank it. DYOR.

[f0rl0rn] 20/11/2020 18:02

So many delayed sell coming up, mm's trying to hide them. Someone off loading big time

[pally12] 20/11/2020 11:35

Where's FCA looking into carillion giving out wrong information to shareholders what about reporting of buys and sellsto manipulate share price

[brazilnut1] 20/11/2020 11:14

Ye looks like party over before it got started.

[pally12] 20/11/2020 10:33

Back to square one buys showing as sells

[texaschaser] 19/11/2020 18:07

but mannan say £11bn company lol

[hsfinch] 19/11/2020 12:54

Those things are pretty meaningless. Non binding expression of interest....what's that? It's like me making an appointment with the bank manager to discuss a business idea. He says sure we'd be interested in lending you the dosh. Come back when you've firmed up your plans and I'll be able to outline our terms. As for ongoing discussions with off takers...that's all they can do. Do you want some gas? How much are you willing to pay? Surely these ongoing discussions have been ongoing ever since Botty acquired the license. I've given you 6 reasons right off the bat why the ongoing discussions ain't gonna go anywhere and therefore why there will be no need to take the vague expressions of interest any further. Like I said, I'm doing more digging but I do fear you're gonna be disappointed.

[888icb] 18/11/2020 20:54

Rather than your deramping nonsense I think investors will prefer to read Simon from IC:

Chariot primed for further share price gains

â– Non-binding expression of interest to fund the Anchois gas discovery.

â– Offtake discussions ongoing.



Aim-traded Chariot Oil & Gas (CHAR:6.48p) has received two non-binding expression of interests to provide development funding for the companyâ€͐2;s Anchois offshore gas discovery in Morocco. It’s a huge resource with an estimated 361bn cubic feet (bcf) of 2C contingent recoverable resources, and 690bcf of 2U prospective resources.

The fact that two highly regarded institutional lenders – African Finance Corporation, a Pan-African infrastructure institution, and a well-known multinational bank – have endorsed the project underlines its quality. It’s also significant given that capital expenditure of US$300m to US$500m needs to be funded to bring the development on stream. Chariot is also engaging with potential off-takers both within the domestic Moroccan gas market, and through the Maghreb-Europe pipeline to the European gas market.

Investors have reacted positively to the news. In fact, the share price has surged 70 per cent since I highlighted the buying opportunity three weeks ago (‘Priced for profitable outcomesâ€T82;, 12 October 2020). If Chariot secures both an offtake agreement and the development finance, as seems increasingly likely, then the share price could easily treble or quadruple given that analystsâ€T82; risked net asset value of $153m (£118m) for the Anchois gas field is five times Chariotâ€͐2;s own market capitalisation of £24.5m. Buy.

[hsfinch] 18/11/2020 17:30

1. The world is drowning in gas. 2. There's a gas pipe from Algeria connected to Morocco. Algerian gas is plentiful and cheap. 3. There are fields and prospective fields onshore Morocco which could supply gas cheaper than Chariot. 4. Chariots's gas is in deep offshore waters. It won't be cheap. 5. Morocco favours renewables.6. Lenders don't want to put money into oil & gas. There's six points right off the bat. But I'm doing a bit of digging into this one and Providence as well. Both stocks are grossly over-valued IMHO.

[888icb] 18/11/2020 12:46

You have hit the nail very firmly on the head Ride DaIce and that is why CHAR looks set to finally achieve the major rerate that has eluded it for so long. Serious funding without dilution and it could be confirmed as a done deal at any moment.

[noreply1] 18/11/2020 12:45

Warning Warning Overvalued Overvalued Mkt cap looks way to high.

[ride daice] 18/11/2020 12:37

Access to funding without dilution is the holy grail for junior E&P. I'm hopeful that they've got this in the bag.

[t0pgrader] 18/11/2020 08:00

...and these so many reasons are what exactly?

[hsfinch] 18/11/2020 02:01

You're probably right but some of the smaller oilies like Chariot and Providence just seem to begging for a short. In the case of Chariot, there are so many reasons why it won't be able to cash in on its main asset...shorting looks like an open goal. Even with Botty gone.

[t0pgrader] 17/11/2020 23:59

>hsfinch If you're a so-called value investor thinking of shorting you're clearly in the wrong place, have done no research and a self-harming danger to yourself.

[hsfinch] 17/11/2020 21:14

I called this wrong. But I'm a value investor and this is clearly a technical traders stock. My gut tells me this is a classic pump n dump play. Like many small oilies. If it resumes an upward trajectory, I'm gonna do some digging. Can anyone tell me how to short COGL?

[anangf] 16/11/2020 21:26

Bouncing around at moment. Come back when RNS out.