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Some share options for the BOD would be nice exercise price 50p or even £1
Now that would be interesting
Read some time ago, about Morocco's intent on utilising wind and solar resources in the future. Could that be the new venture?
Let me tell you why I think that most comments on LSE, about share price movements, are not much more than rationalisation about an illogical market.
I first bought CHAR for 3.2p.
Within about 2 days, it had risen by 50%.
I used to kick myself for not taking a profit then.
Later, with the share price languishing, one poster said that he supposed the price was going to fall to 2p.
Eventually, having became discouraged, with most of my other oil shares having collapsed, I sold for 3.25p.
The price did indeed fall to 2 pence, and when I saw a price of 1.65p, I felt pleased that I had sold for about double that.
When I heard of renewed excitement about this company, I bought back for 3.7p, but unfortunately the balance in my stockbroking account was running low and I wanted to buy another stock at the same time, so I bought back less than 2/3 of my original holding.
When the offer price reached 14 pence, I knew I had made the right decision and yet people here were becoming despondent when the price then halved, not realising that it was actually showing all the signs of having bottomed.
What does all this tell you?
In my opinion, the only 2 fairly certain things are: around the time I bought back, it was fairly obvious that the price was taking off finally, and when the price then halved from its high, it was bottoming.
Otherwise, everything was more less a guess, or rationalisation.
The only thing one can say for sure is that amidst all the chaos, eventually a share price will take off, but no one knows how long it will last for.
Well, when so many people were complaining about the pullback to 7p, I pointed out that that appeared to be the support level.
Congrats to everyone who stayed put and kept the faith. Left few months has been like people trying to tell you the wife has been cheating only to find out she hasn’t and has made them stronger in the Relationship. It’s how I feel with char , I feel a part of the family and after seeing my holding at 6.5p to sell there’s no way I’m rushing to sell now.
We have finally broken out as I predicted and that gives great confidence that WITHOUT news we could re-rest the 12-14p range very soon.
SHC. Thank you for the continued posts of reminding us with the potential here, for the record guys valuations always overshoot so I’m starting to thing that once we get to 20-30p I can see absolute blue sky’s with production that will bring in serious money.
Farm out - the key for me is many small companies be forced in to a corner and accept simple terms but char doesn’t have to ... key will be to retain a min 30% giving away 45% and with a big lump sum of money ... that will pay for the new venture.
Char should not dilute or spend another $ on morocco yet I can see them getting ready for the new venture... any idea what that could be folks ?
I would luv to see the big potential assets all farmed out limiting risk ... especially Brazil and for the life of me I hope we go in to EV ..... yes. Electrical vehicle related new venture.
Ps. Maybe watching the price rise is getting to my head lol. Well let me ok .... let me dream. Lol. Good luck
Mrs Amina Benkhadra, General Director Office National des Hydrocarbures et des Mines, commented:
"We are pleased to have signed this MOU with the Ministry of Industry and Chariot in line with ONHYM's Mission and Strategy where we look to attract investment from the private sector to accelerate the development of resources in Morocco. We look forward to working further with our partner Chariot and assisting them with the advancement of the Lixus Offshore Licence."
Adonis Pouroulis, Acting CEO, commented:
"I am delighted to announce this MOU with the Ministry of Industry in Morocco. The Kingdom of Morocco is firmly focused on decarbonising its economy and diversifying its power sources and the development of the Anchois gas project will enable them to achieve this. Anchois has very strong ESG credentials and, once developed, it also has the potential to deliver considerable value for all stakeholders for decades to come.
The signing of this MOU is a significant step in our efforts to access the Moroccan gas markets. With the Kingdom of Morocco's support we intend to build on the positive conversations we are already having with entities involved in the Moroccan gas market, giving us greater confidence that we will sign the necessary agreements to expedite the development of this value accretive gas project, for the benefit of the Kingdom and Chariot's investors."
First a Disclaimer: i am Dutch, 45 and used to be a fundamental PM ( now investing my own money)so don't know much about aim (algo) trading.
Can only tell you my own strategy. I hold a core position in Char which i will not sell below 50p. If we get news this can change ( both ways).
Around that core position i trade q little. The trading range lifts with market expectations
SHC - thanks for your continued and very helpful posts. I was wondering whether the recent share price action/pattern represented accumulation. As I understand it (and I'm student of TA rather than experienced in it) , accumulation is normally done by sophisticated investors (II or PI) on low volume and keeping the share price within a certain range and testing the boundaries of that range, selling at the top and buying more at the bottom. I was wondering whether this type of accumulation might have been happening in recent months with Char and explained the recent pattern. There was some speculation about this a while back, and we have also been mentioning the Algo trades. Just curious what people think about who might have been buying and selling and the Algo?
Interesting to consider how many shares an II could accumulate between now and 50p. I don't think very it would be very many
Based on the potential of Lixus, now backed by the best (slb), the banks and the Mor government, fair trading value has to be in the region of 200m / 50p. A farm in deal that blows expectations and the sky is the limit.
I would like to see them.
Full credit to the board and management here, they truly have held out to partner on the best terms for all stakeholders exactly as they said they would.
If there are any doubters out there still, I don’t think you will be left doubting for to much longer.
My Expected progress announcements in no order over the next 6 months.
* Partnering terms for appraisal drilling
*rig selections and timings
* new ventures ( in JMW words, this will then kick of a complete new news flow and many developments)
* further resource upgrades on Lixus
* gas off take agreement news
* feed, and planning news
* Anchois appraisal tangible and well planning development updates
* potential news on Namibia and Brazil.( lots if drilling going to start close to our blocks )
* did I mention new ventures, ( could be multiple)
* new TR1 holding announcements
* Operational updates.
*many price monitoring extensions
I have not included exploration drilling new over Lixus. This may be or maybe not included in the partnering agreement for Anchois ...
I just wonder when we will see the first bite from an II coming in ..?
Excitement ahead for sure.
Much in the mainstream energy sector news lines last day , mainly from chariots own verbiage however I suspect we will see industry professional opinions and write ups coming soon, Chariot is now fast tracking into a story for 2021 which cannot be ignored.
After listening to JMW last night ,the biggest takeaway I got was this, and this is my own thoughts. - Chariot are / have been the most safety conscious and careful aim energy sector company bar none in what they release and what they say of the back of those releases.
They do not ramp, hype or spin anything and are very cautious in what they say and how they say it.
For JMW to look so confident in this interview and for him to be boldly stating intent and actions with such positivity with clear and precise statements , that most chariot shareholders must have thought could only come in a parallel universe , says to me , we are all on the cusp of something truly huge here.
One of the things I mentioned to the board only a few weeks ago in one of my mails was the lack of mainstream coverage on Anchois providing any energy means for Morocco, all we were hearing about was LNG and even a pipeline from Nigeria. This RNS I suggest has been many many months in the making . The statement it contains are truly huge for Chariot and all of us shareholders.
I am convinced that statement has probably added considerable leverage to us, on our appraisal partnering.
There have been now 4 massive events in the last 6 months which each will have swung partnering terms acutely in chariots and its shareholders favour, massive Anchois resource upgrade, LOI for the entire project funding from major recognised and dependent sourcing, sub sea integration for feed, development and operation of the entire project from one of the largest industry consortiums globally and now a clear statement of intent from the govt of Morocco that they see Anchois and Lixus as a major ESG energy solution for the entire country for decades to come, on top of all of this , this is all coming together in a world that will be playing acute catch up with massively increased energy requirements and a sector that is starting on a bull cycle.
Any appraisal parter will be left floundering now if they had any notions of trying to swing terms thier way.
The way this has been done by the board has taken time, I have absolutely NO doubts we could have partnered by now if we had accepted “ cheeky” offers , quite clearly shareholders shouted loudly for partnering news when things were not as they are now.
I am now convinced the partnering terms we will see , will rip the market perception of recent farm outs over the last few years to shreds.
Are they any other projects globally in our sector as best set up in the best fiscal climate and in such an advanced stage as Anchois ? if there are , I would lik