Love it when so called positive long ,share holding posters post 4 x the content reasons why things are bad , risky, unproven , unfounded and wish others a chance to get in at much lower prices . To use ONEs best lines.... you couldn't make it up.. Smoke and mirrors abound...
Jinx I know it's difficult for you to understand or accept someone actually showing respect and appreciation for someone's posting on the chariot forum but don't be too alarmed. It's actually normal. Chariots Forum doesn't have to be like an old gentleman's club full of egos and backbiting. They can be a calm & pleasant place where like minded people exchange their thoughts & ideas. Cheers
No chart will pick up a left field farmout in advance. Chariot is extremely tight on news unlike 4 years ago. The reasons for purchasing the additional Moroccan acreage would be sensible and strategic.
There's no emotion Oiltap. I explained what I think the strategy behind the new licence is (risking up - yes, with seismic data in hand as I stated).
As for your analysis, you are filling in way too many unknowns with if/whats/maybes. Like the rest of us, you know no more about Chariot's prospects than is publicly available. At the moment, we have committed to more costs and like I said, this may well prove to be a very shrewd move, but it's all based on the success case of the JP-1 spud in Rabat Deep and the corresponding data that yields.
I remember reading similar arguments about Nimrod - Being told 'management know this and that' and they have seismic data showing a 4 way dip closure with a significant amplitude anomaly - there must be oil! Yet it was a worthless dry hole and the share price plummeted.
All I'm saying is it's high risk taking on neighbouring acreage until we strike and prove oil in Rabat Deep. I believe that is rational.
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