Well I've never read such tripe - does sitting back and pretending constitute good management now ?
Now is exactly the right time to chance your arm - the PoO has given us a chance to be a producer and take advantage of any increase in the price of oil !
If we have had (as it says) a number of high quality opportunity's come through the door and done nothing to progress any then it confirms my suspicions - our Board are just a bunch of Geos wanting their name on the next big find and not establishing a self sufficient company !
It's becoming more and more obvious to me that Malky's opinions are worthless as they rely on accessing CEO's so any bad write-up will curtail access so no Malky
I have my opinion - we are wasting a once in a life time opportunity - one others are taking advantage of - if that's good management then I'll eat my hat
Although it has been fairly quiet from Chariot lately there are a number of things going on and the management have at least had the discipline to cut back on projects and preserve cash. Whilst Larry is seeing a number of high quality opportunities come through the door he is also aware that survival is the name of the game at the moment and there are no prizes for being over aggressive at the moment.
Discoveries from the likes of Kosmos in Mauritania without being identikit have boosted footfall in the data rooms where there are fewer tyre-kickers but more quality players albeit playing slightly harder ball at the moment which is not surprising. Longer term and in better times Chariot has some big positions in high risk, high reward plays and the upside is substantial, the management are doing a good job in ensuring that the company is still there when that time comes.
If Larry fails to deliver something by the AGM, this would also possibly involve another timeline shift then I imagine Larrys days are numbered. Patience will begin to wear thin amongst our significant investors
Is Oiltap still co-ordinating the action group? Do we have a point at which we draw the line and take action?! I'd like to know how everyone employed at Chariot spends their time. I imagine the whole office sat around with their thumbs up their asses, pausing only every 3 months to tweak the investor presentation and push back proposed timelines. And we're back to the subject of PR again. Maybe some positive spin of news/interviews etc might convince me otherwise.
To me he has already missed a huge boat - if there is an explosion in the price of oil who benifits '-the guys still looking for it or the guys with foresight to buy a producing asset when it was off the menu ??
I've said it before we have a bunch of Geos more intereste in getting their names on the next big find than developing a successful company - add to that brokers only interested in the next fund raise and you have a perfect recipe for a train wreck
Just read that article in the telegraph and yes it is a sobering thought an attack oil pipelines. if oil were to Go up to $200 a barrel I have every confidence Larry would still find a way to miss out on the opportunity to make any progress on the back of it. 3 yrs on this exxon Valdez of a share have taught me that.
While global crude stocks are at record levels, there is no spare capacity outside Saudi Arabia. A disruption lasting more than a few days could cause oil prices to spike violently – possibly to $200 or more – triggering a worldwide economic crisis.
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