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This is why its best to keep PRD chat on that board and Char Chat on this one. Otherwise things get confusing
My reply to Nigel refers to PRD, the subject of his post.
I'm bullish on CHAR, already own some and will be buying more.
@ 12:20 Seems to be a slice of misinformation when related to the recent RNSs. I am treating it as such and proceeding with add-on @ 14p to take effect on 26/07.
Perhaps you can comment further on your assessment.
I do wonder if they'll ever test the wells, Nigel (always better to travel hopefully than to arrive), but it certainly won't be before a large placing to keep them going. Possibly other projects elsewhere will become more pressing and Morocco will have to be left for another day.
Well thats been a decent start to this morning, buys coming through in decent chunks nowšš
ICB888,
"I am hoping that Anchois news and the prospect of our onshore drill( thatās what PRD are doing) will see CHAR up 100% .."
For me, 100% increase from here would be min to look for .... As NigelH intimated, CHAR and PRD are two different animals in the same Zoo enclosure. One is a wily old fox, other an established Vixen preparing to raise its young, just need the right partner.
Of course, need those pesky placings out the way first.
aimo & dyor
Bringing the conversation back to Char. There seems to be a significant amount of buys today. Was the same on Friday. Someone loading up at relatively cheap prices?
ICB888 "I canāt stop watching PRD" yet here you are posting about them on the chariot board.....šš yet again š
PRD has gone FOMO critical, which has been the intention of the multi platform ramping. The first well remains untested after two years, well #2 was mostly a fail, #3 looks ok but untested.
They were going to use military escorted explosives to penetrate the casings but flip-flopped and are now going to use high pressure sand and water (sounds familiar right). There was a financial atrocity with a director selling bucketloads of shares within trading hours of a placing...he left...
That said, they could do very well but the management is too 'single crew' for me, a couple of NED's and a drilling bloke who has a place on the board.
Char, Sou and ENAGAS/Shell all have contracts for the Maghreb Pipeline in one form or another, PRD should get one as plenty of ullage remains.
With more logic the investor base would be different but overall there is a reasonable chance of success, they proposed first CNG by Autumn this year in a presentation, chuckle factor there!
I canāt stop watching PRD another Moroccan gas company thatās currently drilling. Less than 2 weeks ago it dropped to 10p and this morning it moved above 20p. I am hoping that Anchois news and the prospect of our onshore drill( thatās what PRD are doing) will see CHAR up 100% , which would see us just above the previous high set in April 2022.
Since the Ā£84,000 purchases at 11.30 this am we have had about Ā£8,000 sold and Ā£100,000 purchased.
... so far !!
PRD has done better than CHAR this year. Who would have though that....
Or perhaps a trader knowing they're reasonably safe with that entry point given the upcoming placing and who will likely exit soon after on any small uplift....
Today purchases 11.05 Ā£28,000 11.06 Ā£14,000 11.14 Ā£14,000 11.17 Ā£14,000 11.21 Ā£14,000
That's Ā£84,000 worth between 11.05 and 11.21 - probably not someone who doesn't think Char will be going skywards?
Surfit - amazing how anyone can earn 750K a year from a Company with no income! We need some lessons on how to do that? -- if you are reading these posts A.P. how do you do it? Plus, we, on here, are all waiting for some goodies after a long ride. What is your definition of "imminent" and "shortly" ?
Smyth don't you go upsetting my pal whimaxš
You know he gets a bit narky the day before his pension is due so cut him some slackš¤Ŗ
And everybody on this board knows he absolutely must have the last word, waiting for his reply......š¤„
Smyth111 āIts an open board people seem to forgetā.
You do make me chuckle Smyth. The fact you donāt see the irony in your statement says it all, unfortunately.
Hi Smyth111,
Appreciated, this is a good board and think posters put in decent info that allow different perspectives.
Nice to know I am not precieved as too much of a Casandrea (daughter of Priam) ;-)
I think after some of my successes and fails I HOPE to contribute and instigated discussion, preferably being proved wrong on my negatives. It comes from too much use of operational risk assessments I suspect.
On a more positive note:
Looking at Simpley Wall St chariot status on being "rather under valued " they rate chariots potential rather highly (it ridiculously high imo, but nice to aspire to).
I admit I lack knowledge on how they arrive at such, data but its worth a look for addtional company information alone.
There are a lot of LTH here who are very knowledgeable and as above never mind being shot down with accuracy (-:
All the best to us all.
Kind regards Sft
Sft,
I understand all your concerns and share a few. But what you are asking is a commitmnet that AP can't/won't give.
If he had made such a COMMITMENT after the 18p placing, his hands would have been tied and he would not be able to go for the onshore deal the way he has.
Whether we farm down Anchois or raise funds through a placing our individal interest in Anchois is diluted. Personally i'd rather have a slightly smaller slice of a pie that I can monetise at a significant profit in 1 or 2 years from now than retain my current % stake and wait 5 years.
E&P companies listed on AiM are not for widpws and orphans. You metion PMO and RKH. To that I can add AFR. But I see BLVN is moving up again.
GLA
AJ
Surfit,I think when it doesnt fit with someones own train of thought then it always seems to be the same kinda response you have had about the drum. I appreciate your own thoughts,processing and information you give so please continue to say this regardless . Its an open board people seem to forget. We are now within touching of the new dilution share offer SP ,no doubt that will be seen by many as a positive. Over subscribed, please.....
Fair point Whimax
I know I am banging the drum but imo it has to be consistently raised.
It's proving out.
Thanks for the clarification I will be back for 7th September...so that would be good.
Cheers Sft
Hey AJ,
Well I am in with Kistos also and Andrew Austin plays it very differently to AP imo.
Kistos have nose dived since the change in the UK and Dutch tax regimes, and very poor drilling campaign results.
But Andrew is firm on share holder protection (out side of operational drilling fails and tax of course). But they very quickly got production and income before expanding.
We and the markets MUST MUST see some finance projections from AP, but I as you indicate have my doubts.
AP is involved in about 10 or so companies and is now getting around $750k per annum ( wages and perks) just from Chariot.
Information from Simpley Wall St analysis on Chariot.
Kind regards Sft
PS Got burned on Rockhopper and Premier so seen/felt it before. I really worry AP having got outed from Petra and his heavy spending programme/ loan/ debts is trying it another way with Chariot (share placement) but the wild card is his unknown spending vs returns aspirations in his sphere of ops I.e. mining "transitional and Hydrogen" and it equivalent third world "deals". Looks very open-ended especially when Westland Investments are involved. They potentially have inside information on what is going to happen and when...hence can hold off until investing at the right time. Am I being too suspicious? Money men, mining, third word (and 1st) banks never rip of share holders of course :-(
Also, itās not an AGM in August, itās a GM to ratify the placing, so I doubt there will be any chit chat or Q & A.
The AGM isnāt until 7th September.
You keep repeating your same concern Surfit, but you/we have absolutely no chance of getting the info you crave, or the commitment you seek on dilution, until Anchois Farm-out is complete and FID is sorted. Until we know income and expenditure required from/for those, itās is virtually impossible for the management team to allocate funds to other parts of the business. Until they can do that, they cannot know what additional funding is required.
Surfit,
When have you ever heard a company make commitments like "there will be NO more share placements and subsequent dilutions" ?
AJ