The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Thanks SHC and Jimmy. Clearly shows how undervalued we are today and hopefully will rerate higher soon
Junga
The fin cap valuation puts a value of £0.04 per of its 54p value on the lixus area potential, which is bonkers, then it only includes 361 bcf of proven gas from the a and b sands and does not include the proven gas from the c, m and o proven gas reservoirs and then it discounts the value by a further 50% because the project finance has yet to move from a letter of intent to a signed deal.
Of course no value for anything else as well
Talk about being conservative and it’s still 5x the current share price.
Jimmy
This is something Finncap tends to do generally in their broker notes in my experience from other stocks with Finncap as a broker. Not sure whether it's a way of being conservative or just laziness / company don't pay them enough.
Would be good to hear about institutional investors tomorrow. I was looking at the factsheet for a micro cap fund the other day, this would be a perfect stock for that fund manager.
More good news for us from Namibia.
The Finncap discounted valuation of 54p is only for Lixus and those not include all our other licences and projects.
Too cheap today at 10.4p imo
Doubt it as surely tomorrows presentation has already been completed, just hope there will be a nice surprise or two tomorrow, pretty certain there will be no shocks
The Venus well in Namibia being drilled by total is now overdue a well result, looks like it could be a big oil discovery also.
Jimmy
I wonder if this discovery in Namibia will be referenced in this week's company presentaton?
One would think such news would start to attact investment flows into the country and that can only be bullish for CHAR's acreage in some shape or form
Oil discovery Namibia.
See.
https://www.reuters.com/business/energy/exclusive-shell-hits-oil-gas-namibian-offshore-well-2022-01-25/
Jimmy
Thanks Jimmy - yes I remember to my significant cost the impact of the volcanics when Chariot first drilled the Northern blocks back in the day.
All the best
P
Volcanic high ridges.
Chariot have two areas of interest offshore Namibia,
1. A back in right for a 10% interest in a block just north of the kudu field, and
2. Licence offshore the luderitz basin southwest of walvis bay.
The geological setting for the Venus well is described in technical terms in this article at.
https://www.geoexpro.com/articles/2021/11/south-africa-poised-for-exploration-greatness
My understanding as to why exploration previously failed i offshore Namibia is that the oil source rocks got overheated by volcanic activity at what are know as volcanic high rifles.
As you move to the west offshore Namibia, the ancient volcanic effect diminishes its impact on the source rocks and hence allows the oil to migrate into the geological traps above it.
If this theory is validated by the Venus exploration well, it may well make chariots V and W prospects in the central blocks very attractive for a farm out.
Chariot has a huge amount of 3D seismic in that area and the v and W prospects are the less risky four way dip anticline structures and not the stratigraphic traps targeted by the Venus 1 well.
Hope that helps
Jimmy
Hi Jimmy - Impact's Namibia block appear to be south of the Kudu gas field whereas Chariot's remaining blocks are further north I think - Central blocks. Do you have any sense of how contiguous the geology is between Impact's block and Chariots - i.e. does a discovery by Impact de-risk Chariot's blocks (and blocks in between) or is the basin different? Just trying to get a sense of what a 'strike' by Impact could actually mean for Chariot.
Many thanks and all the best
P
The Venus exploration well in southern Namibia started on 1st December.
If it was a dry hole they would have finished by now. Rumours of oil discovery.
Should get clarity on this soon.
An unexpected upside for chariot.
https://impactoilandgas.com/wp-content/uploads/211201_Venus-Spud-Press-Release.pdf
Jimmy
Certainly somewhere to look to invest, with the market and the geopolitical landscapebeing as it is now.
We must be sat on one of the few blue stocks on the market today.