Offshore Rig Day Rates should be much lower now, negotiations behind closed doors - we might not be far off from farmout and drill commitment which should drive SP above 20p in no time! With Brent recovering I see 50p potential @ spudding!
I take it back. The door just opened and light came through. Now it's for Larry to sieze this fast follower moment. I am due to add more next week .. I think the issue here is sentiment is now so poor mostly because of poor PR from Chariot that it will take a real deal to kick start chariot. If chariot found what Kosmos just found (and they are still drilling !) then with monetisation we would be looking at £3 a share .... That takeover just got more expensive !
That is amazing! And they are continuing the drill to target depth - looking for 2bn bbl oil as well ... Interesting times .. If Larry cannot farm out quickly after this result then he will be booted out ..
Kev - they always spin 'meeting commitments', and other such stuff as the only measure of success. The market cap is the only measure of success IMO. And Chariot has failed time and again to deliver. If I went and spent £20M on a pile of crap I might have successfully bought a pile of crap, I might even have bought it when I said I would. and delivered on what I said I would do. Turd polishing springs to mind. Time for Larry to go. The best way of protecting Adonis's interests is to jettison all the non-performers. What exactly has Rob successfully represented or indeed protected (or was that not his remit). Time for a full scale review of everyone in the organisation. If they have interests that are not aligned to making the company a significant market capital increase type of success - then ditch them. Period.
Yeo it does make you wonder how long this can carry on - Mark stated that the new investors were happy Chariot had fulfilled their obligations - they bought in at 14p and there is no sign of any recovery ..
I always found Rob open and honest when approached, I now wonder what he thinks to the present M\C and stock price - remember this was on a downward trend well before the oil price crash..
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....
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