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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Chariot Limited | LSE:CHAR | London | Ordinary Share | GG00B2R9PM06 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -2.32 | -16.93% | 11.38 | 39,291,716 | 14:41:37 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 11.30 | 11.46 | 14.48 | 10.82 | 14.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Crude Petroleum & Natural Gs | USD | USD -14.88M | USD -0.0154 | -7.23 | 107.36M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 14:41:57 | O | 2,000 | 11.4297 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 07/12/2023 | 10:51 | ALNC |  Energean pairs with Chariot to enter Morocco offshore gas market |
| 07/12/2023 | 07:00 | UKREG | Chariot Limited Partnership Agreements Signed with Energean plc |
| 01/12/2023 | 15:00 | UKREG | Chariot Limited Block Admission Return |
| 31/10/2023 | 16:37 | ALNC | EARNINGS AND TRADING: Kromek wins deals; First Class Metals optimistic |
| 31/10/2023 | 07:00 | UKREG | Chariot Limited EIA Approval Received for Anchois |
| 26/10/2023 | 14:00 | UKREG | Chariot Limited Change of Nominated Adviser |
| 19/9/2023 | 10:37 | ALNC | Chariot touts progress despite seeing shares fall on first half losses |
| 19/9/2023 | 06:00 | UKREG | Chariot Limited H1 2023 Results |
| 18/9/2023 | 13:33 | ALNC | IN BRIEF: Chariot joint venture wheels energy though Cape Town grid |
| 18/9/2023 | 10:20 | RNSNON | Chariot Limited Update - Electricity Trading Licence, South Africa |
Chariot (CHAR) Share Charts1 Year Chariot Chart |
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1 Month Chariot Chart |
Intraday Chariot Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 07/12/2023 | 14:27 | Chariot Oil & Gas - Moderated | 13,150 |
| 22/10/2023 | 03:36 | Chariot - Transitional Energy | 411 |
| 05/9/2023 | 05:51 | CHARTS | 9,989 |
| 17/12/2022 | 13:06 | Chariot Limited - Green Energy in Africa | 345 |
| 04/11/2021 | 20:26 | NEW * Chariot Oil and Gas - A balanced portfolio with Giant Potential | 111 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 14:41:58 | 11.43 | 2,000 | 228.59 | O |
| 14:41:27 | 11.38 | 4 | 0.46 | AT |
| 14:41:26 | 11.36 | 5,566 | 632.30 | AT |
| 14:41:22 | 11.41 | 203,252 | 23,188.21 | O |
| 14:41:00 | 11.30 | 17,664 | 1,995.98 | O |
| Top Posts |
|---|
Posted at 07/12/2023 08:20 by Chariot Daily Update Chariot Limited is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker CHAR. The last closing price for Chariot was 13.70p.Chariot currently has 963,694,463 shares in issue. The market capitalisation of Chariot is £107,355,563. Chariot has a price to earnings ratio (PE ratio) of -7.23. This morning CHAR shares opened at 14p |
Posted at 07/12/2023 14:27 by 888icb Simon Thompson on Todays RNSChariot’s transformational farm-out is underrated The fall in the company’s share price is a harsh reaction to what looks a good farm-out of its flagship gas project The conclusion to the article: “Clearly, the farm-out transaction fell short of the expectations of some investors as Chariot’s share price fell 15 per cent from 13.7p to 11.6p following the announcement. The share price is also below the 14.75p level when I assessed the farm-out possibilities (‘Chariot could soon announce a 'game-changing' deal’, 20 September 2023), albeit the holding has still delivered a 282 per cent gain in my 2017 Bargain Shares Portfolio. It’s a very harsh reaction. That’s because Cavendish’s total risked valuation per share of 57.7p for the company is not only five times the current share price, but it rises to 71p assuming Energean exercises its option to acquire a further 10 per cent stake. This highlights the value embedded in the Anchois gas project and which Energean has clearly recognised. So, although the initial reaction to the news is disappointing, expect the heavily oversold shares to bounce when the dust settles. Hold.” |
Posted at 07/12/2023 14:13 by ashkv Simon Thompson Investor's ChronicleChariot’s transformational farm-out is underrated The fall in the company’s share price is a harsh reaction to what looks a good farm-out of its flagship gas project December 7, 2023 Energean acquires stakes in Lixus and Rissana licences Option to purchase a further 10 per cent interest Chariot’s share price falls 15 per cent on news Chariot (CHAR:11.6p), the Africa focused transitional energy group, has announced a farm-out agreement with Energean (ENOG:995p). The transaction covers its Lixus Offshore licence, which holds the company’s flagship Anchois gas development project, and the nearby Rissana offshore licence in Morocco. Energean is a £1.8bn market capitalisation FTSE 250 company that has a proven track record of successfully developing large offshore gas projects. The agreement provides funding for both Chariot and the Anchois gas project through upfront consideration, deferred consideration and potentially a full carry to first gas. There is potential to upscale the development and target further exploration prospectivity across the two licences, too. Energean is acquiring 45 per cent and 37.5 per cent interests in the Lixus and Rissana licences, respectively, to take operatorship. It reduces Chariot’s stakes to 30 per cent (Lixus) and 37.5 per cent (Rissana) with Moroccan state company National Office of Hydrocarbons and Mines maintaining a 25 per cent stake in each licence. In return, Chariot will receive $10mn on completion of the transaction; $15mn on Final Investment Decision (FID); and has an $85mn gross carry that covers its Lixus costs up to FID, including the additional Anchois well being drilled, which will have a gas flow test in 2024. Following completion of the Anchois well, Energean has the right to acquire a further 10 per cent of Chariot's equity in the Lixus licence for an $850mn gross development carry to first gas; $50mn five-year zero coupon convertible loan note with a strike price of 2,000p or by issuing 3mn Energean shares; and 7 per cent royalty payment on Energean's gas production revenues in excess of a base hurdle on the realised gas price (post transportation costs). Analyst James McCormack at house broker Cavendish values Chariot’s retained 30 per cent interest in the project at $476mn (35p) on an unrisked basis, or $310mn (23p) on a risked basis using a 65 per cent commercial chance of success. Assuming Energean exercises its option to acquire an additional 10 per cent in Lixus, Cavendish values the 20 per cent fully carried interest at $595mn (risked) or $447mn (unrisked), using a higher 75 per cent commercial chance of success (due to the lower financial risk and result of the Energean carry). This implies a valuation of 29p (risked) to 44p (unrisked). The conclusion: “ Clearly, the farm-out transaction fell short of the expectations of some investors as Chariot’s share price fell 15 per cent from 13.7p to 11.6p following the announcement. The share price is also below the 14.75p level when I assessed the farm-out possibilities (‘Chariot could soon announce a 'game-changing' deal’, 20 September 2023), albeit the holding has still delivered a 282 per cent gain in my 2017 Bargain Shares Portfolio. It’s a very harsh reaction. That’s because Cavendish’s total risked valuation per share of 57.7p for the company is not only five times the current share price, but it rises to 71p assuming Energean exercises its option to acquire a further 10 per cent stake. This highlights the value embedded in the Anchois gas project and which Energean has clearly recognised. So, although the initial reaction to the news is disappointing, expect the heavily oversold shares to bounce when the dust settles. Hold.” |
Posted at 07/12/2023 12:43 by sev22 Introduction to a new Broker note from Cavendish.Delivering an Expanded Anchois Project. Chariot has signed a partnership agreement with Energean (LON:ENOG), funding Chariot and the Anchois project through an upfront consideration, deferred consideration and potentially a full carry to first gas, with Chariot retaining a material stake in the project. The partners will now accelerate the drilling and flow testing of the Anchois East well in 2024, with rig contract negotiations underway. The multi-objective well, designed as a future producer is being drilled to unlock up to an additional c383Bcf of resource to enable the existing offshore development plan to be expanded to accommodate production significantly above the existing 105MMscf/d development concept. We believe Energean is a perfect counterparty for Chariot and Anchois given its gas development experience and the materiality of Anchois to Energean’s portfolio. - Potential Funding to First Gas Under the agreement, Energean will acquire a 45% equity interest in the Lixus licence (containing the Anchois development) and a 37.5% equity interest in the Rissana licence. In consideration, Chariot will receive US$10m in cash on completion of the farm-out, a US$85m gross carry including all Lixus costs up to FID, including the Anchois well with a gas flow test and the planned Rissana seismic acquisition costs separately capped at US$7m and a further US$15m in cash on FID. On completion of the Anchois East well, Energean will have the right to acquire a further 10% of Chariot’s equity in the Lixus licence in exchange for a development carry to first gas (capped at US$850m gross) the issuance of either three million Energean shares or a US$50m 5-year zero coupon convertible loan note and a royalty of 7% on Energean’s gas production revenues in excess of a base hurdle on the realised gas price. Energean’s share of Chariot’s costs has a coupon of 7% over SOFR and is repayable from 50% of Chariot’s net sales revenues from the offshore licences. At 7% over SOFR, the terms of the financing with ENOG are better than the c15% we currently see in the market. - An Ideal Fit Energean is a FTSE-250 independent E&P Company, with a proven track record for developing material offshore gas resources, having successfully brought onstream the 1.4Tcf Karish gas field in Israel. - Near Term Appraisal Drilling The partners will accelerate the drilling of the Anchois East well, a planned producer well location in the Anchois development, with drilling expected to commence in Q2/24. The objectives of the well are to further appraise, and flow test the discovered gas sands and importantly to evaluate the Anchois O reservoirs in the previously undrilled Anchois North Flank and Footwall targets, which in aggregate are estimated to contain 383Bcf of best prospective resources and high chance of success. On success, Anchois East will demonstrate the productivity of the Anchois field in producing gas to surface, materially increase the discovered resource base and provide a clear path to FID. - An Upscaled Development Success at Anchois East would support an upscaled development in excess of the existing 105MMscf/d development concept, accelerating project paybacks, reducing unit development costs and improving IRR’s. - Imminent Price Catalysts Chariot will commence a drilling programme in early 2024 at the Loukos Onshore licence. The Loukos Onshore licence contains several low-risk prospects, geologically similar to Chariot’s offshore portfolio, which can be rapidly monetised via nearby existing and planned infrastructure. - Discount to Valuation We update our valuation to 58p, with the decrease in Chariot’s working interest partially offset by a combination of the committed consideration and a reduction in commercial risk. If Energean exercise its option to acquire a further 10% in Lixus our valuation increases to 71p. |
Posted at 07/12/2023 12:42 by ashkv As I see it the terms of the deal ->USD 10 million on deal close USD 10 million on FID (Late 2024 at the earliest) USD 25.5 million [USD 85 million gross carry to FID of 30% Chariot Share = USD 25.5 million] USD 2.1 million (30% Share of Planned USD 7 million Rissana Seismic Costs capped at USD 7 Million) 3 million ENOG shares or an Interest Free Convertible Loan Note of USD50 million on FID / Outcome of Flow Test (95% confidence given third party CPR and lab tests) plus full development carry for an additional 10% of Lixus License leaving CHAR with 20% of Lixus plus full developmental carry up to USD 850 million dollars. Also retained is a substantial 37.5% share of the Rissana license So in 2024 CHAR should get USD 20 million cash on close and FID plus an interest free loan of USD 50 million which should tide the firm over for the subsequent 2 years to first gas. Also hopefully an income stream from Morocco plus Green Energy initiatives. Therefore in sum USD 10 million + USD 10 million + USD 25.5 million + USD 2.1 million + USD 50 million (Interest Free Loan or 3mn ENOG Shares) + USD 153 million (USD 850 million Development carry minus minus initial USD 85 million pre-FID carry * 20% Retained Share of Lixus by CHAR) plus 20% of future Lixus Income Stream minus interest costs = NPV10 of 50p to 70p per share based on analyst assumptions!!! · Chariot will receive: o US$10 million payable on completion of the transaction o US$15 million payable on Final Investment Decision ("FID") o US$85 million gross carry including: § All Lixus costs up to FID, including the additional Anchois well with a gas flow test § Planned Rissana seismic acquisition costs separately capped at US$7 million |
Posted at 23/11/2023 19:02 by bantamboy The market knows that a massive placing is coming shortly & the rumors are that chariot are struggling to find anyone willing to participate without a 50% discount to the current share price.That's not surprising really. As chariot are light years away from any sort of income or farm in Deal. Chariot Will be tapping the market regularly to pay the sky high salaries & bonuses of its corrupt & inept Bod.. The company is not investment grade according to at least 7 investment houses what I know about...and one of them is socgen... don't expect any.good news from this company...it won't come.. From what I can see, the next cash grab placing will be at around 7p a share.. Be very careful here girls... |
Posted at 02/11/2023 08:20 by hsfinch I see you're in the first class carriage again. And you're spot on as always. But you are now acknowledging that a partner will be announced soon. That is nailed on imo. The questions now are about the deal and the share price The deal...partner takes 51% and operator. Partner pays for a test well which should gave been done 2 years back. Partner will want gas sales agreement tied down. And field plan approved by Morocco. So there's gonna be a 6-12 months of work to get to sanction. At sanction, Chariot gets its spend to date back with a cherry on top and a free carry to first gas. No one is gonna be spraying money around for 100 million scuffs. Chariot spends the cash on the onshore stuff which has little or no value. The sp... Chariot has to wait 3 or 4 years to get 24% share of production. So small cash raise to tide em over is a possibility. Run the numbers punters...it looks like 25p to me. |
Posted at 24/10/2023 16:00 by bantamboy Finchy..Why do you assume they will be be a partner or finance Deal announced soon?? Surely you don't believe a single word that spews out of AP's gob?? He's a proven habitual liar.. Don't you think there would of been rumors afoot & a surge in share price if anything material was about to be announced? The next News will be details of a cash grab placing... Chariot Will end the year with 1.5 billion shares in issue & no progress in any of the kiddy on projects they are supposed to be involved in I keep reminding you all.. this is a sham scam operation. Set up to keep a chosen few in luxury... which It does!! You'll only ever see a 20p plus share price after it does a 10 for 1 share consolidation when it reaches 5 Billion shares in issue.. |
Posted at 12/9/2023 22:27 by hsfinch To complete the picture. At the time of the 2024 AGM Chariot has moved to a new office in Slough. The share price is 1.4 pence. AP has retired. The Julian fella's body has never been found. Sightings in bars around Rio have been reported. The AGM is being held in an asian wedding venue (its cheap innit). The fine wines and exquisite nibbles of yesteryear have been replaced by Tesco house fizz and bowls of bombay mix. Malcy hasn't turned up. He took Chariot off his bucket list when the share price dropped below 5 pence. Weepy Bum attended coz he's still got a million shares and he lives within walking distance in a council flat behind the high street. |
Posted at 02/9/2023 15:39 by bantamboy Even if there is a deal cobbled together there won't be any cash up front element to it...And any initial rise in the share price will Quickly be sold into & probably finish down 10% on the day . The market knows that a cash grab raise is just around the corner @ around 10p Anybody dreaming about a cash up front deal will be disappointed, as I believe that part of the deal as already been done between the Bod & whoever.. Chariot like a big turnover of shareholders, so they can carry on diluting the share price without too many questions asked.. I don't believe you'll ever see the share price North of 17p again.. The market Cap is already £170 million which is way too high based on Actual Assets that can be monitised in the next 5 years.. If I was you lot I'd sell up before the AGM... You'll be able to re enter a lot cheaper afterwards... 10p a share is on the cards very shortly.. maybe lower. |
Posted at 29/6/2023 07:51 by 888icb Note this from ST article:“ Analysts at Auctus Advisors believe that as soon as the details of a farm-out deal are released to the market then it would lead to a material re-rating. That’s because the combination of the carry on the project and upfront cash payment would materially reduce the risk of any significant dilution for Chariot’s shareholders. I completely agree, especially as I understand that some of the potential partners could fund the project from their own balance sheets. To put the undervaluation of Chariot’s shares into perspective, Auctus has an unrisked valuation of $839mn (£655mn) based on Anchois’ 1C contingent resources of 365bn cubic feet (Bcf) and 2C contingent resources of 637Bcf. That’s more than four times Chariot’s current market capitalisation. In addition, Anchois has 2U prospective resources of 754Bcf, which have a 49-61 per cent geological chance of success, and offers potential prospectivity across its Rissana offshore licence, which has a total 2U prospective resource of seven Tcf and could attract larger players, too.” And: “ Deep share price discount to core NAV Chariot’s share price has moved sideways since I highlighted the progress the group has been making on multiple green energy projects (‘Good news will boost this green energy company’, 3 February 2023), albeit the holding is still showing a healthy 415 per cent return in my 2017 Bargain Shares Portfolio. Trading on a steep discount to analysts’ core net asset valuations of 65p, and with an Anchois farm-out firmly on the cards, the shares are well worth buying.” |
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