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London South East Natural Resources Webcast


Chariot Oil Share Chat (CHAR)



Share Price: 8.50Bid: 8.30Ask: 8.58Change: 0.20 (+2.41%)Riser - Chariot Oil
Spread: 0.28Spread as %: 3.37%Open: 8.30High: 8.54Low: 8.20Yesterday’s Close: 8.30


Share Discussion for Chariot Oil


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Goonerpete
Posts: 2,536
Off Topic
Opinion:No Opinion
Price:8.50
RE: Amazing
Sun 22:29
I have to admit, I do feel a bit like Martin Platt from Corrie after the last fundraise.
 
Goonerpete
Posts: 2,536
Off Topic
Opinion:No Opinion
Price:8.50
RE: Amazing
Sun 22:04
Did I hear someone stutter potential again ?
preciousmaj
Posts: 850
Off Topic
Opinion:No Opinion
Price:8.50
View Thread (2)
RE: Amazing
Sun 22:00
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.
preciousmaj
Posts: 850
Off Topic
Opinion:No Opinion
Price:8.50
RE: Amazing
Sun 21:54
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”.
preciousmaj
Posts: 850
Off Topic
Opinion:No Opinion
Price:8.50
Amazing
Sun 21:40
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.
growler1664
Posts: 2,315
Off Topic
Opinion:No Opinion
Price:8.50
RE: Placing
Sun 19:48
Careful - you’ll be on the naughty step if you tout the word ‘placing’
oilriches
Posts: 10,020
Off Topic
Opinion:No Opinion
Price:8.50
Placing
Sun 18:21
Fact is another placing is needed to drill Namibia and working capital. They have $27m net now but they will raise again and not leave the tank empty on another duster.
Jimarillo
Posts: 299
Off Topic
Opinion:No Opinion
Price:8.50
RE: CHAR
Sat 18:04
Yes, I already have my quota
eldorado1909
Posts: 173
Off Topic
Opinion:No Opinion
Price:8.50
RE: CHAR
Sat 17:03
Take it this means you're loading up at these levels?
Jimarillo
Posts: 299
Off Topic
Opinion:No Opinion
Price:8.50
RE: CHAR
Sat 13:41
Top slicing would be a better strategy in my view before well results and have a free carry into the results

However, Tullow are drilling ahead of CHAR and this result will also have an impact on the share price

I imaging there will be an increase in sp at the spud of Tullow's Cormorant well, which is a much anticipated well for every company associated with Namibia




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