You make a good point in regards to Woodside. The reason for not farming in to Rabat YET maybe due to the fact that they are interested in the other blocks too especially Mohammedia (JP2), which are not drill ready. Also they have bought the licence for the Rabat Ultra Deep block, which they would want to analyse before committing to a drill or maybe 2.
Brent recovering (Larry said the economics stood up very well at even $60 a barrel). And now Senegal has the largest oil find in 2015 - Cairn, and now Kosmos are rocking - in west Africa - surely even Chariot cannot screw this up - it's an open goal, the herd are miles away, and it's time to fill those boots just like Richard Griffiths ... Who knows maybe Woodside will farm into our Mauritania acreage instead .. Not as far fetched as you might think ...
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.
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