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TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake Watch Now

TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential




Share Price Information for Chariot Oil (CHAR)


Share Price: 4.63Bid: 4.39Ask: 4.87Change: 0.00 (0.00%)No Movement on Chariot Oil
Spread: 0.48Spread as %: 10.93%Open: 4.80High: 0.00Low: 0.00Yesterday’s Close: 4.63

Chariot Oil & Gas Limited Ord 1P

Chariot Oil is listed in the FTSE AIM All-Share
Chariot Oil is part of the Metals sector






Share Price SpacerPrice
4.63
Share Price SpacerBid
4.39
Share Price SpacerAsk
4.87
Share Price SpacerChange
0%0.00
Share Price SpacerVolume
0
Share Price SpacerOpen
4.80
Share Price SpacerHigh
0.00
Share Price SpacerLow
0.00
Share Price SpacerClose
4.63
Share Price SpacerCurrency
GBX


Currency Issue Country Shares in Issue Market Capitalisation Market Size
GBX GG 365.61m £16.93m 150,000

52 Week High 11.45 52 Week High Date 27-JUL-2018
52 Week Low 2.05 52 Week Low Date 20-MAR-2019

# Trades Vol. Sold Vol. Bought PE Ratio Earnings Dividend Yield
0 0 0 -1.469 -3.15 0.00 0.00


London South East Users info for Chariot Oil




Date
Time
Trade Prc
Volume
Buy/Sell
Bid
Ask
Value
 

14-Jun-19
16:26:21
4.57
480
Sell* 
4.39
4.87
21.94
Trade Type:
Ordinary

14-Jun-19
16:26:21
4.57
480
Buy* 
4.40
4.65
21.94
Trade Type:
Ordinary

14-Jun-19
15:49:35
4.5371
150,000
Sell* 
4.52
4.69
6,806
Trade Type:
Ordinary




View more Chariot Oil trades >>

Directors Deals for Chariot Oil (CHAR)
Trade DateActionNotifierPriceCurrencyAmountHolding
20-May-19Buy
Trade Notifier Information for Chariot Oil & Gas Ltd.
Chris Zeal held the position of Independent Non-Executive Director at Chariot Oil & Gas Ltd. at the time of this trade.
 Chris Zeal
5.05GBX198,023198023
28-Jun-16Transfer From
Trade Notifier Information for Chariot Oil & Gas Ltd.
Larry Bottomley held the position of CEO at Chariot Oil & Gas Ltd. at the time of this trade.
 Larry Bottomley
01,564,2861995399
20-Jul-15Buy
Trade Notifier Information for Chariot Oil & Gas Ltd.
George F. Canjar held the position of Senior Independent Non-Executive Director at Chariot Oil & Gas Ltd. at the time of this trade.
 George F. Canjar
8.5GBX75,060291573
View more Chariot Oil directors dealings >>


BigBiteNow
Posts: 4,206
Premium Chat Member
Opinion:No Opinion
Price:4.48
RE: CHAR Investment Case
Thu 10:03
Suresh786 I have tried to include my thoughts on questions in my reply to O&W but the key message for me is that this gas discovery was handed on a plate to CHAR (yes that company that does bad deals apparently), that does not mean that it will then automatically be handed to someone else in the same manner.

It is worth more than just an appraisal well carry because it has come far enough down the risk ladder. So yes I expect a drill plus some help with the development costs. The exploration well is phase 2 and isn't required for the first 10 years of gas at 90mmscf/d, so it doesn't need to be in the discussions with any front end partners.

This is just my opinion of course, no more.
BigBiteNow
Posts: 4,206
Premium Chat Member
Opinion:No Opinion
Price:4.48
RE: CHAR Investment Case
Thu 09:57
(2 of 2)

Thus far my investigations demonstrate that it should be well within reach although I would wish to take a further look at this when the FS is released shortly.

What is important to remember is that the government partner and holder of the remaining 25% of the license ONHYM, at development level, which is where Anchois 1 would be post appraisal well, is responsible for its full share of the development costs. So no free carry, which is very important in all of this.

Any potential partner that comes in is negotiating a percentage of of a very profitable low risk gas play (and this is in part dealing with Suresh786 question), that they would in my view of gladly paid for had it been available to them. CHAR have secured 75% for just a $1m commitment to seismic. They don't even need to commit to a drill because over $100m has already been spent on the play through the 4 drills that have taken place.

I am looking for a circa 50/50 split so around 37.5% each. For CHAR to give that away for just $15m for an appraisal drill would be criminal. I expect multiple interest because I view the CAPEX as being fairly low (currently $350m of which 75% = $262m is with CHAR and their partner). For a very good chance at a 22 year plus gas project of oil equivalent 16,000 bopd, that is very manageable and would leave ample room for further payments. Paticularly when we see that the gas play has the potential (be it more risky) to more than double in size on further discoveries at the many satellites around Anchois.

So I expect the appraisal to be covered + a cash payment that at the very least would help CHAR on its way towards its share of the development costs. It may not be big money but at a total contribution of say $130m, even 20% would help set up CHAR for debt financing facilities for their share.

That said I do still fully expect sizeable dilution but at just 365m shares in issue and 37.5% delivering 6,000 bopd equivalent, the stock can handle it.

The above are just examples. I have no idea how much CHAR really wants of this play but what it shows is just how doable it all is when the hard work of exploration has been done and one is left still holding 75% of the license. That wouldn't happen on a wildcat. So they have far more aces in their hand than ever before and from these levels I expected to be rewarded well for my support.
BigBiteNow
Posts: 4,206
Premium Chat Member
Opinion:No Opinion
Price:4.48
RE: CHAR Investment Case
Thu 09:43
(1 of 2)

@Olderandwiser Good morning I trust you are well and many thanks for your kind words.

I am just about to jet off on holiday for 10 days but wanted to respond to your questions.

In my opinion the two stocks aren't in the same league in terms of impact and standing, but as is the way with AIM, CHAR with the right tailwinds has the ability to outperform BMN over the next few years simply because it is coming from such a low base.

That said I fully expect BMN to be sitting at several multiples of its current price within the next 2 years because the market has still to factor in its energy platform, which is coming on very well now.

The key difference in terms of standing right now is that CHAR has a perceived history of doing bad deals for its shareholders. The trouble is that analysis is based on a minnow oil company attempting to convince major partners to join it on a wildcat drill. Those sorts of deals place CHAR bargaining position at a very low ebb.

The Lixus license, which has been given them on a plate is a completely different animal altogether and the market is in my view unwilling to look close enough at it to appreciate the strength of its viability and thus value it more realistically.

I wouldn't wish to go too far into what can be achieved here but to place it all in context I will say this ;

No further drilling at Anchois 1 and the existing gas discovery can deliver a phase 1 70mmscf/d for over 10 years.

1 further successful appraisal well drill at Anchois 1 to open up Gas Sands C and the that becomes 90mmscf/d for over 10 years.

I further exploration well at Anchois N with an independently assessed COS of 43% and the play becomes 90mmscf/d for over 22 years.

That play sits within a jurisdiction where there is a 10 year corporate tax holiday, with low royalties at just 5%. Furthermore, the Moroccan gas market will offer prices in the region of $8.50 per mcf at $70 brent. Even at $60 brent we are talking $7.50 per mcf for something that's likely going to cost well under $2 per mcf to get to market, plus with the GME pipeline siting just 30km in land from Lixus landfall, there is a direct link to the European market.

There will be the need for further drilling to expand the discoveries of course but what I am expressing here is the criteria on the table when CHAR sit down and talk with potential partners. Will there be significant interest at those levels and with that gas market so near, and for me the answer is unequivocally yes.

With around £13.5m in the bank all of what I have just described is currently being priced at under £3m. What it should be priced at is for the individual to decide. It is not my call nor would I want it to be. DYOR always

But in my opinion even with a question mark over BOD performance, the still opportunity far outweighs that risk at these levels. The only outstanding detail for me which I have tried to eliminate is the CAPEX
suresh786
Posts: 135
Opinion:No Opinion
Price:4.48
RE: CHAR Investment Case
Thu 09:05
BBN, thanks for valuable input, what kind of Farm-out you would expect.

1) Do you expect only appraisal farm-out, e.g. fully carried for 1 appraisal well.
2) Do you expect one appraisal and one exploration well, fully carried.
3). Do you expect one appraisal well plus some carry for development e.g. $50million for development.
rifteastafrica
Posts: 2,538
Opinion:No Opinion
Price:4.48
FARM OUTS
Thu 08:38
ANY ONE OF 3 FARM OUTS ON THE WAY

A FAARM OUT ON LIXUS WILL MEAN THE MARKET WILL CONTINUE TO PRICE UP THE RESERVE

EXCITING TIMES AHEAD
View more share chat for Chariot Oil (CHAR) >>







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