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Could it be the Israeli link???
Wasn't expecting fireworks but that really is a dissapointing reaction
Clearly the RNS is too difficult for the BoT's to read and translate, just turned red ...lol
By the looks of it
Well done
Total game changer...
All IMHO DYOR
Happy
Even better ....
50p+ in a sensible mkt!
HOPEFULLY, now that Offshore deal is done, they can fully focus on this imminent Onshore drilling play !!! gonna be an interesting 2024 for sure !!!
So did I ...... flat / down period , then boom !!! atb
I always said we would get news after a flat period and there we have it ....
This deal look very good indeed and also affords Chariot plenty of upside potential. On this news the shares should soar in value.Will be interesting to see .I suggest all lth should strap in for the ride
Negatives - it's not a free carry on the well, it's a loan. The $850m is a carry to production, not cash.
Happy Billy?
The more you read it, the better it gets 😳😊
Absolute stonker on a deal.
Also, I don’t want to hear the words “Chariot” “Ship” and “Leaky” in the same sentence, ever again 😂
Whatever the reaction of the SP this morming, coming days this will be a massive winner in the long term
Looks like a great RNS to me. Let's hope the fund managers start buying in now.
30% Retained
$850m for a further 10% if they want it 😊
Energean to acquire 45% and 37.5% interests in the Lixus and Rissana licences respectively, and take operatorship of both licences
· Chariot will retain a 30% and 37.5% interest in Lixus and Rissana respectively, with ONHYM maintaining a 25% stake in each licence
· Chariot will receive:
o US$10 million payable on completion of the transaction
o US$15 million payable on Final Investment Decision ("FID")
o US$85 million gross carry including:
§ All Lixus costs up to FID, including the additional Anchois well with a gas flow test
§ Planned Rissana seismic acquisition costs separately capped at US$7 million
· Following completion of the Anchois well, Energean will have the right to acquire a further 10% of Chariot's equity in the Lixus licence for:
o US$850 million gross development carry to first gas (including the US$85m gross carry)
o US$50 million 5-year zero coupon convertible loan note with a strike price of £20 adjusted down for dividends or issuance of three million Energean shares, at Chariot's option on FID
o 7% royalty payment on Energean's gas production revenues in excess of a base hurdle on the realised gas price (post transportation costs)
· Energean's carry of Chariot's costs is non-recourse, and has a coupon of 7% over the one year Secured Overnight Financing Rate (SOFR), with the carry including interest repayable from 50% of Chariot's future net sales revenues from the Lixus licence
At last.
Merry Christmas one and all.
On the whole, that looks at first read, like a pretty damn good deal, I am struggling to find anything within it that I would deem poor, they held out well on this, and it looks like it has paid off handsomely in maintaining a decent stake along with all the other bells & whistles in the deal... GREAT work...
No point stressing about how the price is going to react.. what will be will be.
That said, expecting better reaction than JOG.
"Chariot will retain a 30% and 37.5% interest in Lixus and Rissana
respectively, with ONHYM maintaining a 25% stake in each licence"
Its a great deal, Chariot still retain a healthy chunk of the pie.
Very nice RNS for you guys in this dreadful market we are currently in.
Yep, sounds great - Lets get moving
Been in this share for about 10 years and that's glorious news!
Can I have an 'IMMINENTLY' from everyone!