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Mr plot.
Chariot only repay the enog any anchois capex funded by enog, from 50% of its 20% of net cashflow. So chariot generate free cashflow from day 1 of anchois production.
Jimmy
"Any thoughts on that from serious invetors here?"
I am a serious investor and I think here is a strong possibility of onshore success leading to revenues sooner than 10 years but we need to hit a drill now. Even then I assume its going to be a while to build infrastructure to realise onshore sales, but in my head this was 1-2 years rather than 10 years.
Interesting you rue not selling at 20p but not at 14.5p when you were saying the directors were only in it for themselves and the onshore would all be dusters (in hindsight this jumps out as a shockingly good call so far). As a serious investor I did sell around then - I was worried at the sudden jump to onshore - but I have since bought back in in the 7's as I do think the onshore could now be fortuitous and the offshore looks in a better place too.
@harrycarter when you say hsfinch made a 'plausible bear case' are you talking about this peculiar and incoherent rant from a couple of days ago? you have a low bar for defining plausibility.
"the **** show (continued)ap - how about this. frenchy takes control of the gas pillar and jock stays on as chief technical officer. frenchy - d'accord. jock's a geek. i'm a businessman. jock - will i still get bonuses ap. ap - indeed if you earn em. julie - thats a win win. we have an extra pillar and i get to keep my sneaky peeps up jock's kilt. ap - fellas here's the problem. we've got 5 million in the bank. thats only gonna last us a year. and we aint gonna see any free cash-flow from anchois before 2032 at the earliest.frenchy - d'accord. what about the next tranche from enog. thats 15 million. ap - only if they take the optional 10%. we cannot rely on that. and dont forget hydrogen. if total cash calls us, we're sunk. julie - i thought anchois gas was coming in 2028. ap - it is but our share has to pay back the enog carries. its gonna take 4 or 5 years to clear the debt. frenchy - oooh la la. i was hoping to retire to st tropez in 5 years. what can we do. jock - thats where i come in. ill find more gas and black stuff. think new frontiers, gushers, ten baggers, big bonuses. there's nothing to worry about fellas. ap - thats the spirit jock. and we get rid of the hydrogen thing, the generator rental thing and the onshore sdx cast-off thing. weve gotta pull our horns in and focus. julie - i'm sure malcy will spin that in the markets if i show him a good time.ap - great fellas. let's go down to harrys bar to celebrate."
I've got a few shares in this dog. Bought around 8p. I knew I should have sold when they went over 20p. Now they're right back where I bought thema few years back. I'm reading all the bullish stuff on here and wondering when they will start moving back towards to 20p.
Then I read a post by hsfinch on ADVFN which made a plausible bear case by suggesting that it will take something like 10 years for Chariot to see any money out of Anchois.
Any thoughts on that from serious invetors here?
Since 2009, have been investing in mostly oil, not in gas, lost lot of money but recovered also, have been in RKH, XEL, HUR etc.
was lucky to average down on CHAR by buying when it was 2 to 3 pence and now holding with average of 3+ pence
Suresh for how long have you been investing in E&P without understanding what mcf means? Happy with contingent v proven? Read the SPE manual.
Tiny trades so far today. £4000 net sales. No reason to mark down sp by .23p except MMs own agenda.
Great prediction thus far
Thanks everyone for clarification so mcf is 1000 cubic feet, now it make sense
Probably due to auction but my price alert feed just reached 13.17
I predict a strong rise tomorrow.
Mcf - It is confusing. Jimmy has it right. - the "m" does not stand for million, it is the Roman Numeral for 1,000. So ONE mcf is One Thousand Cubic Feet.
https://corporatefinanceinstitute.com/resources/valuation/measuring-natural-gas-mcf/
A Billion Cubic Feet (1bcf) is a Thousand Million Cubic Feet or a Million Thousand (same thing). ie as Jimmy says "1 Million mcf"
IC incorrectly translates mcf into 'million cubic feet' in their piece, which is probably the cause of Suresh's confusion. mcf is a thousand cubic feet.
1 bcf = 1 million mcf.
See.
https://sciencing.com/convert-bcf-mcf-8684930.html
Jimmy
12 bcf = 12,000 mcf
1 mcf = $3 to $5
12 bcf = $36,000 million = $36 billion
i know i am doing something wrong but what ? as i can't be $36 billion
Lesley50 - I defend your right to say what you think, but that's a very strange thing to say. Are you aware of the ENOG partnership, Chariot's history with Anchois and the terms that apply as the resource develops ?
Thought not !
What a pathetic post. Why are you even bothering to post if you feel that way.
Chariot has been a basket case for years.Nothing is ever going to happen
Morocco will be the reason if she delivers after their drilling.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) told investors it has started drilling the OBA-1 well, on the Dartois prospect located in the Loukos Onshore licence, in Morocco.
The Dartois target holds an estimated recoverable prospective resource of 12 billion cubic feet (Bcf).
https://www.proactiveinvestors.co.uk/companies/news/219987/chariot-limited-adds-renewables-edge-to-portfolio-219987.html
Mid-point at that time was 7.851 afaics
NewK - Especially as the prices look like buys and they say "unknown" .... More to it than meets the eye!
'O' trades that are reported late, very unusual.
Only just seen them, large mid-point trades, 'O' ones at that, hummm !!! :
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
20-May-24 10:30:53 7.85 800,000 Unknown* 7.67 7.71 62.80k O
20-May-24 10:24:15 7.86 800,000 Unknown* 7.67 7.71 62.88k O
20-May-24 10:23:42 7.85 800,000 Unknown* 7.67 7.71 62.80k O