I think you are right about ass kicking, i tried to contact PR today and got no reply.. The phones must be red hot.
Let's not forget
Chariot claim they are in a partnering process on namibia Centrals & HRT claim they will have significant progress on farming out their acreage come Xmas. Tullow are very likely to drill next year with pancontinental in Namibia. Mulunga states there will be three drills in namibia next year and he should know. Merger market claims SHELL will get/farm into Impact Oils southern acreage near to ours....which is next to Kudu which is a commercial gas find. Our acreage is more likely oil than gas. And there is NO MORE ACREAGE available. Morocco - we expect Woodside to partner and drill next year. Mauritania we might get a new venture there and Are waiting on Cairn and chariot those new volumetric estimates - why not release ? They have hinted volumes are better .. They are negotiating IMO We are already below cash .. And volumes are low ... And Pouralis just put £887K of his own money in... As well as Meridian Inveatment bankers and plenty of others. Behind closed doors there will be some ass kicking going on and I wish I could join in. one day nearer to a positive RNS from Chariot IMO..
I hear you mate. Tapir caught me out because of speed of the drill but should have listened to my head pre- nimrod results. Anyhow good to see you posting again, could be an interesting few days!
Current share price
Just a few comments here on the current position as I am as surprised as anyone at the current price - I went to the Blvn investor presentation and kevin Hart made a few very interesting comments - all relevant to Chariot: 1) Farm out market is as tough as he has ever seen it - he mentioned a few companies looking for farm-outs with proven assets (Ophir ..an excellent one) obviously going to be harder for companies with unproven 2) Cost of drilling - Mentioned that after Macondo it is much more expensive to drill ....whole industry is totally risk averse so cost of drilling has gone up 3) Chance of success - drilling unsustainable with current level of success - people got to start striking oil or time to give up - risk/reward with cost of drilling does not work 4) No sign of change - but will have to as exploration does not make sense right now - oil has to go up loads (increase reward) or collapse (service companies reduce costs significantly) With these comments I don't think Char is going to go well over the next 6 months -hope they do but its a tough market and could see Char going low ..sub 10p. Would love to buy more but am sitting on the fence as Kevin convinced me there is no bottom in sight. Happy to discuss
Waiting for GENEL drilling results?
This is awful. I might have to top up and then lose my s### with the board. What's Larry's email address?
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