George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Auctus note also out, it's behind a paywall but I like it's heading....Chariot Limited (AIM: CHAR): One step closer to FID – Production ramp-up quicker than expected
The engine is running and the wheels are finally turning
Let’s see how excited the market is now.
KB,Boom now theres the money shot lol...That made me chuckle :-))))
@Fraserd You said "Indeed might be worth your time doing some research for yourself to see how often the operating company of a field issues an RNS just to say the FEED has been completed."
Done my research this morning and Chariot have released a FEED completion RNS :-))
Lets hope this is the catalyst for the market to react..Lets see what today brings as this is what we are all looking towards,its reaction..:-)
Apologies, this link should work
https://rb.gy/ct60qd
https://*********************/companies/uk/oil-gas-e-ps/chariot-limited/research/cenkos-securities/cenkos-chariot-ltd/39_51b83458-dca5-4346-8b1e-81d886f0a81e/90362cd8-e959-4e45-97c3-54773ee8be8c
Finally an update..Woop Woop the jam is OTW
FEED complete, everything else progressing on time, exciting times ahead
Once they get the GSA completed the rest should follow on lively enough.
Hopefully then we will finally see the elevation the SP has been promising for what seems like a life time.
14 months since discovery now so come on AP show us the money!
And a set of 3 big after our sales did appear, so the 35k was imo a buyer building a position
The fact that all the 35k A Trades are at the top the spread, suggests not.
Or selling......
I actually think we now have someone building a position.
Look at “A” Trades all for 35k shares (plus some other chunky ones). Hard to figure out how they managed to drop this so much today, unless a big after hours trade appears tonight or tomorrow.
15 has been holding for a while now.
Hopefully this really is our bottom until news.
Thanks well if they're still saying FID mid-year still got to complete GSA, partnering and financing before then. Busy boys and girls, hopefully.
Thank you
Rgds Sft
London AIM-listed Chariot Energy expects to reach financial close for the development of its Anchois gas discovery by the middle of this year and expects the find could open a new gas province in Morocco’s Atlantic offshore zone – where many other upstream players have tried, and so far failed, to make a commercially viable find.
According to technical director Duncan Wallace, Chariot “thinks that Anchois is potentially the start of a new gas province”. He told a Mauritanian British Business Council (MBBC) event held at Chariot’s offices in London that the company was targeting a final investment decision (FID) in mid-2023 for a subsea-to-shore development.
This would include three wells in the initial development, with the potential for five wells assessed in the development concept. Chariot signed a front-end engineering and design (Feed) contract with Schlumberger and Subsea 7 last June
That’s the guts of it. All other info is more or less available from CHAR’s year end preso.
*marked down as a sell….
nickshaw, unfortunately it’s not at straightforward as that.
The spread today has been anywhere between 5% and 8% and for the entire day (bar one trade, the blue one) the buy AND sell price has been below the mid-price. This means every trade is automatically makes down as a sell, regardless of what it actually is.
I've noticed the last couple of days (Friday & today) there has been a huge disparity between buys and sells. Friday from memory it was over £80k sells vs about £2k buys. Today buys total about £2.50! I appreciate volume is still very low so it might not mean much but in terms of disparity the last couple of days have been the biggest I've seen for a long long time. Should we be concerned or could it be as simple as LSE recording buys as sells?
It certainly doesn't seem to be bringing the SP down. In fact it was slightly blue Friday and so far today.
Thanks
Thanks for the post KnC,
Could you cut n paste? Not paid up for subscription.
Rgds Sft
I think it was a good thing that the Anchois find and the BoDs securing the subsequent services of SS7 and Schlumberger was done when it was.
https://www.offshore-energy.biz/subsea-7-sees-highest-order-intake-in-last-9-years/
In addtion that meeting (leaked) regarding the high importance (to Moroccan Gov bodies and contractors) of maintaining and achieving timeline deadlines for all parts of the project really was/is true.
RNS on Gas contracts and project financing (farm in partner, banks or VC investors must be close (post FEED).
Note: You can bet the team are keeping an eye on the rig count too.
https://rigcount.bakerhughes.com/intl-rig-count
Wonder what both SS7 and Schlumberger are saying about equipment supply chain deliver timelines.
Did AP mentions anything in reply to such equipment procurement before sanction or was it a BB poster mentioning something about securing such by order before sanction?
Rgds Sft
Certainly chariot was a pioneer for oil exploration in Namibia. It appears that the multi billion bbl discoveries offshore Namibia have occurred in deeper water in a part of the orange basin to the west of chariots former acreage, in water depths of around 3000 meters. The former central Namibian blocks held by chariot likely include prospective acreage for the new oil play and chariot would still have the 3 d seismic covering such deep water part of the blocks. However, it’s a long slow process to work up and drlll such prospects and chariot are probably better of focusing on near term cashflow in Morocco and proving up low cost gas reserves.
Jimmy
Chariot drops Namibia blocks
OE Staff August 30, 2017
Atlantic margin focused Chariot Oil & Gas is dropping out of two blocks offshore Namibia.
The firms says it has elected not to enter into the First Renewal Exploration Period of the exploration licenses covering Blocks 2714A and 2714B. But, it has secured an option to back-in for 10% equity, after the completion of future exploration drilling, for no financial consideration.
Chariot CEO Larry Bottomley said Chariot's operational focus is on preparing for the drilling program in Morocco, progressing preparations to drill in the Central Blocks in Namibia and launching a partnering process in Brazil.
Chariot has 85% and is operator of the Namibian "Southern Block" with partner NAMCOR holding 10%; and Quiver 5%.
Chariot had acquired about 2128km of 2D seismic data, prefunded the ION NamibiaSPAN long offset 2D seismic data and reprocessed the historic 3D seismic data over the Southern Blocks. Analysis of the integration of this seismic data with regional well data identified gas prospects AO1 and AO2 in the Aptian clastic onlap play.
"The work undertaken by Chariot to define this prospectivity resulted in industry interest; however the technical risk associated with these prospects deterred potential partners from committing to a program of exploration drilling in the current environment," says the firm.
Chariot CEO Larry Bottomley said: "While it is clearly disappointing that we were unable to attract a partner on the Southern Blocks in the current environment, it is important that the company maintain discipline in the management of risk and the allocation of capital. NAMCOR has requested that Chariot remain engaged in the partnering process through a zero cost option to back-in after exploration drilling in recognition of the depth of understanding of the Chariot team of these licenses and the quality of technical work performed."
Africa