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Just a bit of a vent. I back this completely but this is painful. I'm betting big on this to turn around towards the end of this month as they begin to drill. This slide to oblivion however is PAINFUL and tbh makes little to no sense
Prod’s RNS of 5th Feb says they will drill MOU5 between 1st April and 31st May, so no rush.
Legal in that case we should see an RNS by tomorrow or least by end of the week to confirm.
I am sure possle delays would have been accounted for.
Gooner - that's the period when PRD have contracted to take the Rig, so I can't see how Chariot can delay much beyond mid April!
Legalwolf, Chariot signed the contract for the Star Valley 101 Rig prior to PRD opting to take it from April.
Can you also take a look at Fernan's post below on finances. They have sufficient money available without Energeans instalment.
So we are just waiting on an update is imminent, highly imminent.
Legal. Having been invested here long enough and suffered the constant bs from the chariot I would take their planning with a pinch of salt. I would hazard a guess of a drill late April beginning of may. It will make no difference to sentiment as that is already shot to pieces
Gooner - that is entirely possible, which is why I have been asking about how long it is going to take to drill each target, because we know that PRD are taking the Rig sometime in April. But Char have only very recently said they are "on track" for Q1 and they appear to have put the necessary elements in place. Only snag is whether they need the £10 million from Energean to pay for the Loukos drill? But surely they would have planned the Loukos timeline knowing how long the regulatory approval might take, and have a close enough relationship and contact with the Moroccan authorities to ensure everything comes through on time!
Legal, Chariot have never and will never deliver "on track".
They always set themelves up to fail and to us Pi's detriment.
P@ss poor management or is tactical?
Yes, if they are on track to drill by end of this month, then we should be getting a RNS any day now?
Must be getting close to completion of all the civil works on the first well location and access.
Yes but the good news is that there is a new driver now. All chariot needs to do is not spend all their cash, and hope the next drill comes in.
The Al comment only reports the result of the car after losing control. It says nothing about the driver and their ability to complete the journey as they had previously outlined. The organisation has repeatedly promised an outcome to a new crop of spectators, yet with the same result. Look back ten years and see how often they have outlined their planned journey only to drive a different course.
Evening Ian
My buy at 0939 was a speculative buy with a view to sell at 10ish to try and recoup some losses thats all. There was some positive sentiment in tha very brief spell at the time.
Whatever our lead up to our onsure drilling programme I do not forsee much uplift in our SP. That opportunity to derisk at a higher price has passed us by imo. If you look back on the history and whatever the position we have been in the RNS of a drill drags us down even further No wriggle room atm unless you want to sell some at a loss (for most of us here id say)
GP - I agree that the "Market" knows more than we do, but it is not always that clever. If it was it could have foreseen that Rolls Royce could do a 5-bagger in 18 months (that's quite something for a Company of that size), and a coal miner GCM 4-bag in 18 Months. A small Company like Char can many-bag on good news as can be seen when watching the Risers chart on LSE - regularly at the top is a small Oil/Gas Company moving 50% plus in a day.
I respect the view of AI based on current events but the sp can change on a six-pence. Also, people on here who are invested in Char understandably like to keep their hopes up and talk positively about their investment. I think I saw even you topping up at about 9pence a short time ago?
My instinct tells me we are onto a winner which will look very different in a year's time. Good Luck!
Surety as painful as it is and without too much rocket science the market never warmed to the farm-in deal. Simple.
The drills are a given whether it's within timelines or not we will see further falls as peeps will continue to sell without endorsement from the big boys.
Nice to see (or not) more of the realistic views on here gaining more respect for the truth. (The SP) and calling out the usual desperate suspects out.
The market will always tell us much more than the deluded ones here.
Surety,
I think the AI has produced a very balanced summary.
Thanks
This is open AIs take on events.. it’s obviously all web based data - but I thought it was a decent summary on what would have potentially spooked / surprised the bigger institutional holders..
To be clear I heavily pro chariot - and with the imminent news flow I expect to see improvement in the comings months .. but I thought this was quite an interesting perspective
DYOR
The low share price of Chariot Transitional Energy can be attributed to a combination of factors, as gathered from various sources. A key event affecting the share price was Chariot's farm-out agreement with Energean for its flagship Anchois gas development project and the nearby Rissana offshore licence in Morocco. This deal was anticipated to provide significant funding and support for both Chariot and the Anchois gas project. However, the terms of the deal, particularly around the pay-back from future revenue and the share of the field given away, led to concerns about Chariot's future cash needs and the valuation of the Anchois project. This has likely contributed to the negative sentiment around the stock
Additionally, there were concerns about Chariot's ongoing cash requirements and the potential for further fundraising. The company had to manage its cash flow carefully, considering the costs associated with its projects in Morocco and other initiatives. The agreement with Energean, while providing some funding upfront, also included deferred payments and carries to first gas, which means Chariot's financial benefits from the project would materialize over time
Moreover, market reactions to the farm-out deal and the subsequent share price movements reflect investor concerns regarding the immediate financial impacts of the deal and its long-term benefits to Chariot. Despite some analysts highlighting the potential undervaluation of Chariot's shares based on the project's prospects and future revenue generation capabilities, the share price has been affected by these near-term challenges and market perceptions
In summary, the low share price of Chariot Transitional Energy appears to be influenced by market reactions to its farm-out agreement with Energean, concerns over future cash needs and funding strategies, and broader investor sentiment regarding the company's long-term prospects and valuation of its flagship project.
@Fernan10 - more accurate and up to date than my back of the envelope calcs. Thanks for taking the time to do so.
I think ONHYM formally signing off on the farm in is what is causing the nervousness here - at least from my perspective. Not that they wont, but how long will it take.
Monday would be a nice day for an RNS.
Today, I'll settle for + .20
Ignore last post!
It was fake news and I was duped!
We broke back into the 8's!
I think we may have just turned another corner!
🕺
About 8-10 days per well.
Wow! I'd forgotten what BLUE looked like !
Yes, Char just needs to execute on its plans, with no major hiccups, starting with this Q1 drilling at Loukos. I would expect a RNS to land about this any day now as we approach the "end of Q1". Does anybody how long each of the two targets will take to drill and test? Also during this period, we should get the regulatory approval, which were described as "standard".
Plenty there to kickstart the share price back into life. With the ? that have been raised on here, I'm sure there are buyers waiting on the confirmation via RNS before committing.
Well we are now into March, they anticipated things moving on the onshore drilling program by end of Q1, so "hopefully" we will start to see news flow on that front and momentum kick in. Going to be a VERY interesting 2024 for Chariot for sure, and hopefully it translates to some notable upside for those invested.