Challenger Energy Share Discussion Threads

[z1co] 07/3/2024 13:39

Spare a thought for those that started buying yesterday at the open at over 0.26p.

If they hold on to their shares it will eventually rise higher but i feel a lot of traders have already sold and moved on.

[trotterstrading] 07/3/2024 13:23

Buyers and sellers make a market, look the share price has done 300% plus since Feb, can you really blame those in at Feb levels for taking profit, of course not, especially in this market. That said the landscape has dramatically changed with the Chevron announcement and more upside to follow with OFF-3 JV on the horizon. As such the current price offers excellent risk/reward IMHO and once we see sellers exhausted at this level buyers will be in control MM's will move the price up through the gears

[beatme1] 07/3/2024 13:13

Always blame the seller hey

[trotterstrading] 07/3/2024 13:02

Looking thin on the ask now folks.. churning our seller. Tick tock

[willec1979] 07/3/2024 12:59

Seriously 12bn, how bad is your dementia - seems you have totally lost your marbles.

[givmesunshine] 07/3/2024 12:56

The exception being chevron will carry 100% of GEC 40% "Share" of the costs to upt 15 Million

[givmesunshine] 07/3/2024 12:53

Exactly - it's clearly stated as I said - RNS " 60/40 Participation interest" and the exception to that "share" it's standard You can't be that much of a fool.

[trotterstrading] 07/3/2024 12:43

Stream of buys now, chipping away at the seller.. wont be long before they are clear given volume these past few sessions

[wong77] 07/3/2024 11:44

Me googling

[pwhite73] 07/3/2024 11:44

gvms - "happy to to see any participation contract where the percentage cost don't match without specific exception stated"

Look no further than RNS 06/03/24

"Chevron will carry 100% of CEG Uruguay's share of the costs associated with a 3D seismic campaign on AREA OFF-1, up to a maximum of US$15 million net to CEG Uruguay."

[givmesunshine] 07/3/2024 11:35

Absolute rubbish12 The reason it doesn't mention percentage cost that is because it's default terms of a 60/40 Particpation interest agreement - its mention the exception to those in the RNS with the carry statements - it's shouldn't need explainingGoogle it - Ive no agenda, happy to to see any participation contract where the percentage cost don't match without specific exception stated

[pwhite73] 07/3/2024 11:17

gvms - You have misunderstood the RNS. Chevron have a 60% participation interest. CEG do not therefore have an automatic 40% participating interest. CEG do not have the money to stump 40% of the costs after the cap limits of $15 million and $20 million are hit. This is why the RNS qualifies the position of CEG when it clearly states.

"CEG Uruguay will retain a 40% non-operating interest in the block."

In fact I can look into my crystal ball and tell you exactly what's going happen. CEG, like HE1 and a host of other AIM exploration minnows are what are termed as 'mining squats'.

They obtain exploration licences at minimal costs for which they can only raise sufficient capital from equity placings to meet the most rudimentary of exploration costs. To move the licence into the operational and production stages they need a global partner. This is where Chevron comes in.

The cost of taking any natural resource from exploration to operation to production runs into £100s of millions. CEG does not and will never be able to participate in the operational or production costs of AREA OFF 1 or OFF 3 for that matter.

If the area is deemed to be productive in time the Uruguayan regulators will revoke the licences from CEG and hand them to Chevron.

[iceagefarmer] 07/3/2024 11:09

just bought massive wedge..be quick..going up imminent

[coxypete] 07/3/2024 10:51

Next trigger in terms of Uruguay, is likely to come from next door and Equinor, which is set to spud its Argerich-1 wildcat offshore Argentina, just to the south of the maritime border with Uruguay. This is due to begin in April, with drilling work to take 55 - 65 days, in the CAN-100 block in the North Argentinian basin. The Argerich project is operated by Equinor with 35% interest, and partnered by YPF (35%) and Shell (30%).

[alhambra1] 07/3/2024 10:49

A tricky one for the Idiot - who'll 'pass'...

🙂

He can't phone a friend - because he hasn't any....

[givmesunshine] 07/3/2024 10:47

12 just read up on a participation agreement - FFS

[givmesunshine] 07/3/2024 10:46

New Contestant Mr 12 If I agree to pay upto $15 million net of a partners 40% participation interest in a JV 3D survey How much in total would I spend before my partner has to start conbributing thier 40%?This one's not as easy so no multiple choice this time

[12bn] 07/3/2024 10:40

What is CEG share of the costs before any carry ?

A 200% B 100% C 50% D 40% ?/////////This is a silly question as the RNS does not mention CEGs share of the drilling costs as a %.

[givmesunshine] 07/3/2024 10:38

Sorry your out of time .. first idiot ever to go out on the first Question .. Mr White The answer is D 40% The Clyde is in the the blinding obvious statement - with the word Participation which is a defined statement within the O&G Industry Participation Interest is the proportion of exploration and production costs each party will bear and the proportion of production each party will receive, as set out in an operating agreement.

[12bn] 07/3/2024 10:37

· Following the 3D seismic campaign, should Chevron decide to drill an initial exploration well on the AREA-OFF 1 block, Chevron will carry 50% of CEG Uruguay's share of costs associated with that well, up to a maximum of US$20 million net to CEG Uruguay./////// This cut n pasted from the recent RNS. It is clear that there will be no drilling until after the 3D seismics and CEG will need to stump up if the costs of the first drill exceed $40m but I admit that is unlikely.I assumed CEGs share will be 50% but as Chevron will pay up to $20m then the first drill will cost them nothing. (If CEGs share is only 40% then I still cannot see the first drill costing them anything either). The point really is that CEG loses money at $175k-$200k a month and is likely to raise cash soon via dilution.

[alhambra1] 07/3/2024 10:33

He can't phone a friend - only his carer who hates him....

[givmesunshine] 07/3/2024 10:31

Would you like 50/50 ? Or to call someone ?

[alhambra1] 07/3/2024 10:29

That's a tough one for the Idiot - 12bn...

🤫

[arrynillson] 07/3/2024 10:28

givmesunshine - Disgraced Compulsive Liar 12bn has filtered most posters on here so he often gets the wrong end of the stick when reading the board which can give the impression he’s suffering from dementia - he also regularly claims involuntary self urination!