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They tweeted support and donated to the just giving fund on Saturday
And Chariot PR should have opened with exactly the same this morning but as usual they've done nothing. Hard to come up with a company with less proactive investor info.
PRD have issued an RNS which would be equally relevant to CHAR:
“ Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries the "Group")
Moroccan earthquake
The Company is terribly sorry to have received the news Friday night and over the weekend regarding the earthquake in Morocco. Our thoughts are with all those affected by this shocking tragedy.
The Company's operations in northeast Morocco are not within the earthquake zone, however we recognise that this will be a very difficult and sad time for all of us who have worked in Morocco for many years and have a special connection to the country and its people.”
It’s the same for CHAR as CHAR’s operations are not in the earthquake zone.
🙄
People never cease to amaze with such distasteful comments/agenda.
Heartbreaking to see the devastation in Morrocco and I hope equipment and help is on the way now from the international community. It was nowhere near Chariot's site though.
Hi Ianfer,
I also made a note about rainbow. Unfortunately did nothing about it. Hindsight is frustrating.
I've seen criticism in various news channels, about the leaderships lack of response to the crisis in Morocco. late reaction to the disaster and no response to global offers of help . G20 in session meant offers for help were faster than usual. Lack of news to the people on the media also apparently?
I can see a backlash if this is the case. A declaration that ambulances will be sent to the affected areas is not going to cut it, when many roads are inaccessible.
The epicentre of the earthquake was in the Atlas Mountains near Marrakesh which is a long way from Anchois. It is obviously very upsetting that so many have died but there would seem to be no reason why Anchois should be affected. It is in very bad taste that derampers are peddling their nonsense to try to damage CHAR’s sp.
Hi Ianfer,
I also made a note about rainbow. Unfortunately did nothing about it. Hindsight is frustrating.
I've seen criticism in various news channels, about the leaderships lack of response to the crisis in Morocco. late reaction to the disaster and no response to global offers of help . G20 in session meant offers for help were faster than usual. Lack of news to the people on the media also apparently?
I can see a backlash if this is the case. A declaration that ambulances will be sent to the affected areas is not going to cut it, when many roads are inaccessible.
Interesting or not? I saw something good about RBW but forgot what it was! I later googled to find although I (we) think A.P. is fully focused on Char and little else, then find he has £more invested in RBW than in Char. - around £13m. On 13/5/23 he and other directors bought a pile plus Techmet Ltd (private Co) bought enough to take their holding to £10m - all bought for 10p each. Now worth 16p! Whole Co. Cap = £97m. These guys will do what they can to make £££££s
Watch the sp tomorrow.
I can see 2 reasons for a drop and one for neutral. 1) If the Earthquake affects Anchois progress 2) an excuse for those in the know to allow mates to buy more cheapo.
After the tsunami in New Zealand tradesmen were at a premium esp bricklayers. There will be an urgency for more power in Morocco asap but for Char to go up we need a deal!
I saw 9/11 on the telly just after it happened and thought I should sell everything but didn't. The market hardly moved for the first hour or so but realised after that investors must have been in shock as it dropped quite a lot later that day.
I'm doing nothing on this except probably send a donation for relief. Then wait hoping Char BOD know what they are doing.
I fancied a trip to Fairhaven Lake - St. Annes today for interesting activities for Grandson etc but weather looked poor so was gardening till rained off. Puts things into perspective when you see stuff like earthquakes going on and we have some rain!
Well, one thing is for certain, its not going to impact on our production.
Is that an opinion or is there a report you've seen Wiz?
Opening 20% down in the morning due to the horrible events in Morocco??
Hi Louis.
Not sure if management are holding this back. They seem the opposite, with premature announcements of deals IMO. Bit of naivety on the BOD's part to say imminent and shortly, before all the details are presented for a deal. I feel the goal posts have been moved by the "preferred partner", in a way that CHAR could not afford to ignore. It likely involves future prospects as Jimmy mentioned, as well as access to the North African pipeline to Nigeria. All in my opinion.
Risk ending up with nothing unless management get commercially realistic and stop faffing about.
Fernan,
I would not compare barryroe to anchois as barryroe had very thin sand reservoirs below direct seismic identification. Anchois has thick sand reservoirs and a very modern 3D seismic with direct correlation to two drilled wells which validated the seismic interpretation and they are located in a basin with an 85% drilling success using modern seismic attributes.
I believe it’s highly unlikely they will drill anchois east without a farm out to finance it.
Jimmy
Bit of a reach there Fernan.
I remember the case of Barryroe oil project offshore Ireland.
Back in 2012, Providence Resources, the operator of the project, announced a very sucessfull appraisal well (including a very interesting well flowing result), and immediately started a farm in project to develop the field.
10 years past, and spite of the operator´s regular announcements of "plenty of interest" in the data room, nobody farmed into the project.
It seems the field had some geological risks/uncertainties that couldn´t be adequately addressed by the first well. In that case, the principal risk was the eventual compartmentalization of the reservoir, and the resultant increase in the development cost.
A few months ago, the Ireland government refused to give the operator another extension to its exploration license, and the project is dead.
Maybe something similar is happening now with Anchois, and hence the need to drill an additional well.
If that is the case, it´s likely CHAR will be obligated to drill Anchois East with its own resources (i.e., more shareholder dilution) before continuing with the farm in process. In these circumstances, I would have liked the company to use the recent fundraising to drill that offshore well, instead of acquiring the onshore exploration license.
Time will tell.
Regards
Fernan
So are we now thinking any progress on farm in etc will be delayed until Anchois east is drilled which is presumably many many months away?
That would also tie in with the comment that Duncan wants to find more gas.
If true then I get the financial thought behind it but that would make to 2027 first gas rumour more credible
Jimmy, Bubble
Your opinions are respected
I do wish AP didn’t comment at the time that farm in’s were in the final stages knowing that the offers were inadequate?
Would have been better off saying at the time that negotiations are taking longer than anticipated but bear with cos we gooner smash it in the end 💥👊
Another scorcher today. 🔥🥵
Stay cool charioteers!
Gooner,
My reading of the chariot situation is they they have received farm in offers that did not adequately value the low risk additional gas potential of anchois east, and the O sands below anchois 1 and anchois west, which if successful would bring proven gas volumes to circa 2tcf.
The first step is to get anchois east drilled, and chariot announced the ordering of long lead items for a well and issued a rig request for tender for drilling. If successfull that low risk production well and exploration appraisal well will bring proven gas to 1020 bcf and unlock the field development farm in.
Huge progress has been made on environmental base line reports and gas pipeline surveys that are required to derisk the development to secure a development farmin the value of which will be determined by the anchois east well results.
That’s my reading of the Agm presentation.
Jimmy
Gooner,
It doesn't matter if they reference it or not, the "fact" is that is the way out there and Char can only roll with that, and char
are unlikely to note such partial delays from this or anything related to ONYHM, in fact you you find "national entities" are rarely noted in any RNS, unless a mention is simply to thank them for their ongoing support etc etc... There are reasons for that.
Problem is most Pi go on the written, either because that is all they can go by or that is all they want to go by, when actually much of the important stuff is between the lines or the unwritten, each to their own and all that jazz, to try and get the edge I stick with using what I have to read anything between the lines/unwritten, and it has mostly stood me well.
The only bit of comfort at the moment is with the 6%’s being on board, other than that we are pretty much in the dark.
I suggested at the time that the decision to raise was far earlier than they led PI’s to believe. Chariot never work that quick.
Bubble I don’t think there was any reference to the delay being due to the holiday period or did I miss it? 🤔
NewKid. I hope you have a great evening with the Brazilian. 👍😜
Recently, on 1st Aug we received news of a new licence being awarded, apparently 'out of the blue' for Loukos Onshore:
https://www.lse.co.uk/rns/CHAR/signing-of-new-moroccan-onshore-licence-j1baq4mbodkt841.html
Yet 5 months earlier Julian, Pierre and Duncan became directors of LOUKOS ENERGY MOROCCO LIMITED, so not quite as 'out of the blue' as we have been led to believe. I'm sure there are many other 'ongoing activities' that we plebs are not privy too, particularly given our BoD wealth and depth of experience, although Askar, Covalis Capital et al, I guess maybe are ! Make of that what you will !
https://chariotenergygroup.com/about/board-of-directors/
PS, Gooner, having a BBQ later with a select gathering of neighbours, my wife is particularly eager to show off my handy work !!!!
aimo & dyor
No doubt he'll be too busy to check on here again today...... getting his leg over the garden weeds I would think!
I can't find emojis on my Galaxy smart phone. Maybe Android don't do it.