The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Nice one Pre Namibia Reception in London this week, over 50 guest speakers, which might bring a bit of interest this way
Not a bigger fool than you, you have proven to sell low and buy high after being influenced by random posters on a public bulletin board shy boy Pete
Larry is not a deal breaker. He is fool.
It was actually $26m. “Cairn will receive a 35% stake in the C19 block offshore Mauritania and is paying Chariot US$26mln for seismic exploration work as well as some other back costs.”
*$24m
By the way Mauritania was zero cost to the company, we received $24 from the farm out to Cairn Energy.
There was no interest in Mauritania at the time due to the decline in the oil price and the partnering process in Namibia was initiated for prospect b, new seismics have since been shot and interpreted that have identified a prospect with a 29% chance of success. The chance of success in the RD1 well was only 24% that was farmed out and the prospect that Tullow is about to drill in Namibia is only around 15% I believe.
preciousmaj as you well know data rooms were open for Mauritania and southern Namibia with partnering discussions ongoing.... nothing happened!!!!!
Poll, if you have no faith in the management then move on and invest elsewhere. I think they will farm out hence the reason for holding on. Larry confirmed on the last conference call that they are in negotiations to farm out prospect s.
No farms outs so far and cash burn only leads to a decline in cash. Why are Chariot looking like they will operate prospect S???? 6p coming IMO.
I refuse to go to any AGM just to be mer mer mer mugged off Mer mer mer mug.
I urge you to come to the AGM to hear my stutters, i’d rather stutter than pretend to be a squeaky mouse
I have to admit, I do feel a bit like Martin Platt from Corrie after the last fundraise.
Did I hear someone stutter potential again ?
Some are clearly seeing that this could be running away from them and are scaremongering to push the share price down so that they can buy back in.
We could potentially have farm outs in Namibia and Brazil in the near term, which should bring in quite a lot of cash eliminating the need for a raise. Larry has also confirmed that there is no plan to raise prior to the Namibian drill. http://www.youtube.com/watch?v=clJKVhsq0mA “the focus for us this year is to deliver on the operations that we have and then to partner partner partner” The data rooms are open in Namibia: Larry said that “We are in current negotiations in regards to a farm out of the Namibian block.” Also in regards to Brazil “we have initiated a partnering process on Brazil”. We do not have any further commitments and our current cash balance is in the region of $30m, the overheads are around $5m per year. Simon Thompson recently commented: “Attention is now focused on Prospect-S in Namibia (prospective resources of 459m barrels) which is due to spud in the fourth quarter this year. Chariot has a 65 per cent working interest and is seeking a farm-in partner for its Central Blocks in Namibia to lay-off some of its net cost exposure on Prospect-S which broker Peel Hunt estimates at $15.6m. It’s an exploration hotspot with oil giants TOTAL and ExxonMobil entering the region in recent months. On a risked basis, finnCap values Prospect-S at 23p a share, or almost three times Chariot’s share price. Not surprisingly Chariot’s share price slumped on the Moroccan drilling news to below the 13p price at which the company raised $21.1m in a placing and open offer a couple of months ago, primarily to fund drilling of a well at Prospect S in Namibia. However, with cash of $32m (£23.6m) in the bank equating to 6.5p a share, and a farm-in deal in the Central Blocks possible, then the chances of drilling success in Namibia is being very modestly valued by investors in Chariot’s current valuation”.
It’s amazing that you guys, including the one who has confirmed to have sold his remaining 50k holding keep wasting your time here when you feel so negatively of the company’s prospects and its management. Your opinions are baseless, if history is anything to go by then the newbies should steer clear of the opinions of these clowns who were as negative when the SP was in the 4s and rose to 20s. These moaners have had ample opportunity to speak to Larry through conference calls but choose to talk crap on bulletin boards instead. These are the same clowns who were predicting a SP in the 4s and 5s if the RD1 well was a duster, it never materialised.