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Hi Bardobeat Whilst I have expressed my own views recently about lack of progress which I am also not happy about, these things really do take time. I think you will find the partnering part of the AP overview in the Jan PI open forum was aimed clearly at the recent RNS with SLB and one subsea about partnering for FEED, development and operations. Which we announced exactly as he suggested some 6 weeks after that interview. The appraisal part of our Anchois jigsaw, is really causing me to think hard, there have been lots of clues, one of the biggest for me is the declaration that the existing drilling team that drilled the last Namibian well at a record low cost will be undertaking the appraisal drilling . This was clearly mentioned by AP. So with that declaration , we will most certainly be the operator of the appraisal drilling IMO , we will not be farming out and letting an operator take control of the drilling programme it seems.
I honestly feel we have not lost any big players here , the opportunity of Anchois for many players is just to big, To put into perspective, for a player ( large or small) to have reached where we are now in the Anchois story going it alone , would have potentially cost them up to $100 $150 million capex budget and many years in the making.
There is a clear opportunity here to be not only a part of Anchois but also a part of the massive scalable upside of the area and all with the end product going into one of the most politically stable North Africa climates, offering the best business incentives to spend money and at the best pricing available globally for the product.
I believe there are very complex things going on that will become apparent very soon, The company is very soon going to have to release the yearly mandatory financial and business statements. We all know our cash position is not great, I firmly believe appraisal patterning will involve significant cash generation for Chariot on top of the other carry costs etc... I am sure we will not want to report these statements with no concrete news of how the cash position is going to improve.
We are all now in the same boat, awaiting this key update information , as quite clearly, the market and II’s will NOT look at Chariot until such time clear and defined progress into just how this project is going to show how a path to income generation is going to be achieved. The only way this is going to be achieved is progress on appraisal drilling partnering and gas off take agreements. Everything else is noise at the moment and the board should know this, I was hacked off that they released the M & A news onto a completely mute market as the market could not care less it seems, I understand things move differently at different pace but I just hope the whole board and company are now fully focused into ensuring the market and shareholders receives the right news we want as the next news.
What’s to say the big player got away ? Maybe it’s been delayed by the paperwork or they are just waiting for a final sign off before they agree ?
For the endorsement alone of the LOI and the fact char named one of the 2 institutions suggests this warrants a 15p-20p base. Big boys would only walk away if the asset just dies not add up with ROI..... with Moroccan gas prices and this being touted as a priority development that will throw plenty of cash even if gas / oil markets correct which is very unlikely for the next 12-18 months I suggest the optimism far outweighs the negative here.... I guess the 10years ig holding catches up with one and don’t blame you for feeling jaded to say the least .... but I feel your missing a trick here and should be about as positive as one found with what’s coming on the horizon.
Remember .... it’s they have had cheeky offers .... all in takes is for that 1 farm out deal to transform the fortunes here.
Give away 40% and keep 35%. The teens will become history .... for good !!!
I was hoping for something more like a quid tbh. I rewatched that presentation. It was very good. I do feel that when AP said they we hoping to release news very shortly about a partner, that he was suggesting in his language a matter of a few weeks. That was on 14th Jan. I get the feeling that the big fish got off the hook (again) and they are back in hunting mode. I wish CHAR would adopt a more mature approach to setting expectations and move towards an under promise over deliver mode. Yes, short term they may hook a few new punters in, but long term they will raise caution and cynicism with the big money players. There is absolutely no sign of II interest and the average trade size is and has been pitiful for many months. That’s what you get when you press the hope button too often and too hard. I am long in this share and have been for over 10 years. I’m not budging, but I’m getting pretty p...ed off with wind-up. Maybe a cheeky offer is better than sweet FA? LOL
Char is one of those stocks you can't get away from. I first invested in 2013 Bought and sold many times. Last sale was at 20p I have watched them being featured often in the Day's risers and did my best to ignore it. However they look like they are going to blow again so happy to be on board.