Robert Sinclair owned 412k shares as of September last year - a 200k and a 212k holding. Purchased at £400K + £38,160 giving an average of £1.06 per share. He represents westward investments (10%) owner by Adonis. Adonis also represents himself. Wonder who represents the PI's? Time to get rid of one of those two NED's....
Looks like they have taken down some of the team members - whether they still work for Chariot is unknown. We now have 9 BOD members, and 9 Team members shown. How's that for totally lob sided for a company of this size. Those NED's can go. Adonis and Heindrich are there to protect their own interests (fine job lads ..cough).I would prefer Richard G on the BOD kicking ass. Time for Larry and the chipmunks to go as I see no drilling this side of 2017 and only a takeover on the horizon :-( . Let's get a new CEO who can build shareholder value.
Mauritania is a 2bn bbl prospect immediately followed by Morocco 1.4 ben bbl (Freeport/pure vida) in May (latest PR comms on the PURA vida website dated 23/4 ) as they are using the same drill ship. If either comes off then happy days. But I suspect this is a takeover situation for Chariot now :-( and will only serve to expedite the takeover rather than the drill turning. Larry has probably forgotten what a drill looks like (hints - it's a lot bigger than the one you see in the dentist chair).....
I see, Atwood Achiever is on location to drill the Tortue prospect, exciting! A discovery could increase chances to secure a partner to participate in drilling 2015/16, however we already have a proven new oil play by Tullow in Late Cretaceous turbidites right next to Chariot C-19 license and I understand the Dataroom is already open to other potential drilling partners than Cairn as well, so we could see a farmout and drill anouncement any time I guess..
Fiction known as the 'work programme and upcoming triggers' I notice that the first potential Morocco drill is now TWO years away. in addition the Namibia centra 'drill or 3d' shows a potential drill in H2 2015. THIS WILL NOT HAPPEN - the screw up associated with Repsol offering their rented drill ship Riwan Renaissance that ended up with us losing 25% equity has had a further development where the drill ship is now off to Mexico so you can write off central a for another 2 years minimum. Given that Brazil is asp greater than two years away and our last chance rests on Mauritania. Mauritania will not happen next year IMO, and I doubt it will happen with Cairn.
So .. Why is Richard Griffiths accumulating when the prospect is now 5 years since the last drill before he next drill with no cash left at that point in time unless a) some fallouts on the remaining Moroccan licenses (as we know Larry is not a Plan B guy - and appears to still be in the starting blocks after the gun has fired). I can only conclude that RG thinks this is a takeover punt - he has spent over £1m accumulating and could easily double his money while the rest of the long termers are on the poop. Keep accumulating for the takeover ... That is my only conclusion ...
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