Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Why are they selling?
I am assuming that whoever is clearing out (Covalis, Askar or both) have opened the taps this morning to clear the final lot..
DYOR
Big buys from yesterday are in a loss atm, so much for insider trading, unless they were happy with their ~2% profit this morning. I would have thought however, they wanted in for a substantially larger return than a tiny few percent.
All systems go RNS has us on the ropes once again, RED ffs !!!
aimo & dyor
Stena Drilling is pleased to announce the award of a 1-well Firm programme for the Stena Forth, for former client, Energean, in Morocco. The drilling campaign is scheduled to commence in Q3 2024 and includes the flexibility to drill an additional option well in Morocco.
The Stena Forth, a state-of-the-art harsh environment dynamically positioned drillship, will be deployed to execute the firm drilling programme, demonstrating Stena Drilling’s commitment to delivering high-quality services to its clients in challenging offshore environments. This will be the third vessel in the Stena Drilling fleet that Energean have contracted with the Stena DrillMAX and Stena IceMAX having previously completed successful campaigns for Energean.
Stena Drilling have a proven track record of operating in Morocco having drilled in the country previously with the Stena Don for Chariot, who are a partner on this well, and we look forward to returning to the Anchois field for Energean later this year.
“We are delighted to secure this drilling campaign for the Stena Forth in Morocco,” said Eirik Reinertsen, Chief Commercial Officer at Stena Drilling. “This contract award underscores our strong relationships with our clients, resulting in repeat business for our fleet, and our reputation for delivering safe and efficient drilling operations.”
“Energean and our partners are pleased to work with Stena Drilling for the upcoming campaign in Morocco,” said Simon French, Head of Wells and Decomissioning at Energean. “We look forward to the successful drilling and testing of the Anchois East appraisal well with the Stena Forth Drillship which is a critical step in moving the project closer to FID.”
The potential presence of deeper targets at Gaufrette suggests that Loukos could be worth more than we initially thought....
DYOR
I find it baffling tbh, i did notice brokers notes didn't up their target prices even though today has surely taken some risk off the table? Guess they are already so discordant with actual SP any increase would look even more fanciful!
Mr P I am using a 10% discount rate - I have run 8% and 12% as well. $8 as the gas price and I have assumed that Energean will exercise their options. I have assumed a % for operating expenses and Capital Investment of $850m, $1bn and $1.3bn based on gas production volumes. There are quite a lot of variable so these are sense check numbers - I have also checked gas production volumes over 10 years to make sure that the volume produced is close to the various reserves estimates.
Its baffling to think the response yet again in what is another positive RNS! We should be easily pushing 40p + and then some but yet again we dont seem to have the market response on the back of this. We keep hearing when the market wakes up but surely they have and its quite possible that our current SP is actually factored with all these in place.? Surely that can be the only bloody reason we are here🤨 I thought we would have easily been sitting 10p plus today. Gooner,patience whats that......I think av misplaced mines🫡
Jagua can you refer back to your list of potential catylsts on SP improvement and stick an X by this latest milestone?
There are now enough strings to our bow for us to be at least 20-30p?
Looks like a real solid investment on paper so I guess the keyword here for the next 2-3 years will be "patience" as it has been for the last decade!
The question is are you happier in your investment today vs yesterday, the sp will catch up to this news at some point
Chariot have reached the important milestone of moving from an Explorer to a Developer is the concluding statement in that video.
Utterly bizarre!
Excellent RNS
Very much de-risked for me. Was worried Enog activities offshore in Israel may delay or scupper deal. Company now way more investible than last year when 15p plus.
"We are delighted to start working in Morocco, where we hope to repeat our previous successes in the Mediterranean - enhancing domestic production, helping to meet the country's growing demand, with the potential for exports for any surplus supply, and facilitating both energy security and long-term coal reduction," said chief executive officer Mathios Rigas.
https://ir.q4europe.com/Solutions/Energean/3784/newsArticle.aspx?storyid=16063329
Q2 there will be news and updates regarding the imminent onshore Loukos drills.
Q3 there will be news and updates regarding the massive Anchois East drill offshore Lixus.
It's going to be a very busy year for Chariot.
Is it Covalis who are still selling down and out?
The official Energean sign off would have passed through the hands of a lot of bureaucrats yesterday.
There isn't a big sell at the moment ( unless one is being worked?) buys are 3 to 1.
today's RNs adds the option of a 2nd offshore well. Enog are keen so I'm glad they are now in charge and have come out with a fast time line of Q3, so will catch up
Today’s RNS doesn’t really change anything apart from some ‘perceived risk’ that one or 2 nervous nellies on here have had. Farm In deal was always going to be signed off and ENOG (as their track record has proven) are on the ball and not hanging about where AE is concerned.
There’s also still a seller who was always going to sell into any news.
Accumulate while you can imo.
One of the main catylsts for a decent rise and at least get to the 10's but here we are stumbling and stuttering again.
It really is the long game here but would be nce to see some love today.
Char were imo running low on cash, this is now sorted with the 10m so no need for a raise
Enog deal covers offshore costs and includes some back costs already paid for by char so now we wait for the 2 onshore wells and the 1 or 2 offshore in Q3.... Feeling much more relaxed about my investment today regardless of current very depressed sp
Thats Chariot now set up for decades to come now with the operatorship now taken over by a large FTSE Oiler and Gaser.
10 Mill cash into the coffers and nice further terms with a big fat pay cheque coming their way when the gas starts flowing.
Cracking investment now from here in in (depsite the initial muted reaction), and dirt cheap imvho.
INtention is to a accumulate stage by stage now and be patient.
""That explains the large trades yesterday. SFO or FCA anyone?""
Good luck with that one, seen stuff that is 10 X worse than a bit of a leaky ship and nowt is ever taken to task. Anyway at least we know it is leaky and therefore we also get an early indicator lolol.... good & bad
Big buys yesterday looks very leaky