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Chariot Oil Share Chat (CHAR)



Share Price: 11.50Bid: 11.50Ask: 12.75Change: 0.00 (0.00%)No Movement on Chariot Oil
Spread: 1.25Spread as %: 10.87%Open: 11.50High: 0.00Low: 0.00Yesterday’s Close: 11.50


Share Discussion for Chariot Oil (CHAR)


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DrillaHill
Posts: 30
Off Topic
Opinion:No Opinion
Price:11.00
View Thread (2)
RE: Drilla
23 Oct '14
long distance migration is possible but it is risky and capital intensive to find out,
everyone would prefer to drill reservoirs directly above those prolific source rocks we have in Walvis & Orange Basin, here is where Datarooms are full of interested companies, and where drilling will take place and further light oil will be discovered the next couple of years. Tullow O&G will drill (imo) at least two wells in 2015/16, expect an announcement next month within their Interim Management Statement ( 12 Nov)..
 
Pegasusmarine
Posts: 585
Off Topic
Opinion:Strong Buy
Price:12.00
View Thread (3)
What it does prove
23 Oct '14
Is that Larry and co will make the right call. Now this northern monkey is off our back we know where the focus is ..Larry hinted at Northern and the market guessed it. He has also hinted strongly at namibia central's and southern and Morocco. Mauritania is also looking very good .. Farmouts soon - and the market is behind the curve on those ones
Wheep0
Posts: 112
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:12.00
Nope, not bothered about that.
23 Oct '14
Absolutely no issue in this, good thing if you ask me. Release time, energy and funds for where they need to be..
However It is poignantly clear the company must realise it should be offsetting this type of stuff with news on our positive prospects... It seems to me there could have been an RNS co released to update us long term sufferers / believers if they really wanted to... Their IR again seems to me to not want to do anything to build confidence .
Let's see how the market reacts to a relinquishment of a portfolio valued by the same market as a negative asset portfolio....
Snott
Posts: 136
Observation
Opinion:No Opinion
Price:12.00
View Thread (2)
RE: Namibia - northern blocks
23 Oct '14
Good point. Nothing lost except a millstone that attracted scant interest from potential farmees, took lots of our time and was valued at zero by the market. If Char thought there was anything worth hanging on to, they'd have hung on. It will be interesting to see if anyone else snaps it up, given that it will be the only Namibian licence available.
FQ320MR
Posts: 1,464
Observation
Opinion:No Opinion
Price:12.00
View Thread (2)
Drilla
23 Oct '14
At the AGM Larry did hint that the migration was yet to be proved over that distance, kind of, "if it's there it proves up a theory" no more

MR
DrillaHill
Posts: 30
Off Topic
Opinion:No Opinion
Price:12.00
"Old News"
23 Oct '14
Northern Blocks were only a fraction of Chariot's Portfolio
It was quite clear that Chariot would drop the Northern Blocks as they've suggested within their latest presentations.
No Source - No Drilling - No waste of Work & Money
Central & Southern Blocks are where to put efforts in Namibia because here is where we have hundreds of metres of proven prolific source rocks to potentially fill our reservoirs with billions of barrels of light oil, here is where we want to see the drillbit turning, not to forget Chariot's licenses in Mauritania, Morocco and Brazil..
who cares about the northern blocks...pfff..

GLA
Pegasusmarine
Posts: 585
Off Topic
Opinion:No Opinion
Price:12.00
Full RNS
23 Oct '14
23 October 2014

Chariot Oil & Gas Limited

("Chariot", the "Company" or the "Group")

Update on Northern Blocks 1811 A&B, Namibia

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company today announces that it has opted not to apply for a new exploration licence in the Northern Blocks 1811A&B, offshore Namibia, with the current licence due to lapse on the 26 October 2014.

The Chariot team has analysed significant amounts of proprietary seismic and well data, as well as integrated information from third party drilling activity to study the possibility for long range hydrocarbon migration to the Zamba prospect. This work, however, has not significantly de-risked the prospect and, given that a new licence would entail significant additional investment both in capital and time, management considered it too high risk to justify further near term exploration expenditure. Whilst Chariot considers the acreage to remain prospective, this decision was made in line with the Company's focus on portfolio management and capital discipline.

Larry Bottomley, CEO commented:

"The goal of the Company is to deliver transformational growth through the discovery of material accumulations of hydrocarbons. Exploration is a risk business, and managing this risk will be key to our success. It is for this reason that Chariot views its fast follower positioning as crucial to its strategy, as this allows the Company to make informed decisions from an optimised knowledge base. Furthermore, with the diversity we now have in our portfolio, Chariot can manage its assets in terms of risk and their associated fit within the aspiration of zero cost exploration. The Company will continue with this strict capital discipline and build on its asset base in order to maintain this optionality and generate opportunities for a sustainable drilling campaign.

Namibia continues to be a key focus for Chariot as we believe this region has the potential to be a world-class hydrocarbon province. We remain excited about the prospectivity we see in our recently re-awarded Central and Southern licences which we aim to further de-risk as we progress with our exploration campaigns."
Pegasusmarine
Posts: 585
Off Topic
Opinion:Strong Buy
Price:12.00
View Thread (2)
Namibia - northern blocks
23 Oct '14
The acreage (all our acreage) was valued at zero a long time back and we are at a discount to cash. Focus is on Centrals and southern where SHELL, Murphy, OMV and black star bought in earlier this year. Eco are currently doing 3d seismics with Tullow for a reason
aa111
Posts: 478
Observation
Opinion:No Opinion
Price:12.00
seen shares fall on good news
23 Oct '14
And rise on ...... news! Either way my target is still the same 40p by mid 2015
Bannor
Posts: 283
Off Topic
Opinion:No Opinion
Price:12.00
View Thread (2)
RE: great...
23 Oct '14
Yep reckon so..... never thought this would end up below the SP of BOR but today could certainly be that day... disappointing . . .but that's AIM stocks for you...

GLA



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