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As feared here come's the 7's 😖
Another great top up opportunity for those of you with the inclination and or funds, chariot really is the share that never stops giving🤔Unless we still aint bottomed out🤷♂️Surely we can't fall much further?
I think we’re almost at the point now where we’re priced to fail with all 3 pillars. I’m not saying there won’t be a dip if On Shore “fails”, (highly unlikely with a historical 80% CoS) there is almost literally nothing priced in here now from any of the 3 pillars, when you consider cash in the bank and payments from ENOG at ratification on Farm In.
Crazy imo, but there you are 🤷♂️
Cheers whimax. Respect your views.
The risk of the upcoming drills really wouldn't over concern me if we were sat in the 20's at least, it's the long term damage it could cause if the drills underwhelm at the price we are at now ..... and slipping,
Yeah we pays our money and all that but nobody but nobody could have predicted our position today.
Morning Gooner.
I’ve never made SP predictions, and I’m certainly not going to start at this point, but what i do know, is Chariot are now closer than they’ve ever been to making some serious money, with umpteen share price catalysts scheduled over the next few months.
I suspect the BoD are as baffled as we are as to why the SP is where it is, but ultimately, I’m expecting many multiples of where we are now, which is why I sold some other holdings yesterday morning and increased my holding here by 20%.
The SP is frustrating, of course it is, but I’ve said before, I never planned to sell any until a certain point (which we haven’t reached in over a decade) so whether it’s 8p or 28p is pretty irrelevant to me.
As far as Institutional Investors are concerned, this is not the point they will “buy in” to an exploration company these days (it’s not like it was 15 years ago). iMO, the risk here is minimal, with so much going on, but it’s not risk free enough for an ii to risk other people’s money. They will come, but just not yet.
Ltes hope our saviour ThebOLD keeps long for a few months before dumpin again. Paulz a well LTH dont ya KNOW.
GLA - Newz gauranteed.
Jezzer. On chariots latest quest for riches for all we have been a "bargain" since 26p.
Many excuses made for our "undervalued" SP but the reality is that chariot are simply not capturing the market's or any institutions imagination.
If this was an opportunity 10 or more years ago we would be £3+ purely on speculation?
Best scenario imo is to be bought out at anything above 30p on current play?!
Whimax I appreciate you thinking that my thoughts on derisking some at 10p ish as ridiculous but what do you envisage our SP to be pre drill?
I’ve been in Char for 15 years and the fundamentals surely have never been better. We have an actual product, albeit still under ground, but the board do seem to be making steps towards the outcome we all crave. I’m certainly no expert, leave that to Jimmy, but guessing several aspects have to happen behind closed doors to get to that stage, which take time. TBH I never thought I would get the chance to top up at under 10p after the partner RNS. But I have!. GLA
Could be. This is a testing time for LTHs that's obvious but the fundamentals are still there. Lack of progress when there are other options to grow your pot is likely a big factor imo.
We been hanging onto the 8's for dear life for a while now so 7's was inevitable.
Total dawg this share
I've seen it said on here that the sp is where it is because that is what the market thinks. So it must be correct.
Sorry for the deviation, but is this dumb or what? ....... Hvivo Plc - sp recently up 50% or so and because some institution wants to buy some more, but they are not there for sale, 2 of the Directors have today sold them £4m worth (half of their holding) of their own ! So the IIs think they are worth more, the Directors think they are worth less (or they just need the dosh?) Why don't the MMs show a higher sp? Why is it in Directors' interests to sell to IIs? - Answers on a post card please ...... Char at 8p, does not mean that is what they are worth! People are selling, Directors are buying, Is there some one/organisation who wants a lot more than what is for sale and one day soon/shortly/imminently buy a big chunk or put in a decent bid for the lot??
Perhaps useful for some to remind themselves of the RNS on 29th January, which inter alia mentions FID as summarised by the CEO:
“ Adonis Pouroulis, CEO of Chariot commented: "We enter the new year with multiple important catalysts for the Group over the coming months. In kickstarting the drilling campaign at the Loukos licence we are focused on unlocking an overlooked onshore basin that has near term production potential with immediate access to industrial markets. Importantly this asset also has a growing portfolio of follow-on opportunities which give meaningful scale and value to the project, at a time when industrial gas demand and associated gas pricing is at an unprecedented high. Drilling at Anchois later in the year will be a key milestone in determining the possibility to scale up this development and we are working closely and constructively with our new partners Energean in preparing all the workstreams necessary to permit a Final Investment Decision post-drilling as soon as feasible. We thank ONHYM and the Ministry of Transitional Energy and Sustainable Development for their continued support for the transaction and look forward to confirming Energean on to the project shortly.”
Hi the old..
My understanding of the difference between the whole sale price is a daily market price and the retail price includes profit mark up and the cost of hedging when prices were considerably higher.
J
No one has advised it won’t proceed , troll away. Troll.
@thebold
No one has advised FID will proceed. Clearly if Energean had then we wouldn’t be at 8p would we?
Hi Jimmy,
What’s not making sense here is prices to domestic customers all over Europe are still near all time highs !, how can prices to industry and utilities be dropping so much atm with zero being passed on to domestic customers ?
I think the fact that Aldo Costantini was appointed Energean Country Manager in Morocco last week is also extremely significant, and a good indication of how seriously Energean are taking this venture. Tick Tock.
From Energean website, ……..”Morocco is fully aligned with Energean’s Mediterranean, gas-focused strategy, adding resource to the portfolio, and opening new gas sales markets. With both significant upside of around 21 Bcm gross unrisked prospective resources in undrilled sands, and growing local and export demand for natural gas, the project has long term growth potential. Energean works in partnership with both AIM-listed Chariot and the Moroccan NOC, ONHYM, and looks forward to meeting the demand for natural gas both in Morocco and beyond”. Pretty definitive statement there plop …How is Richmond, you still heading up to the woods ?
One possible explanation for the drop in share price has been the fallin the forward price of gas in Spain, from where morroco currently imports its gas. The forward price for 2025 is approximately $9 mcf, down from about $12.
However, the drop in gas price can more than adequately be compensated for by an increase in production volumes, from 105 mmcf per day to circa 200 mmcf per day.
The most recent presentation from chariot stated it was intended to have three producer wells, and that the last anchois 2 well has been calculated to produce from 100 to 200 mmcf per day, so producing 200 mmcf per day from three wells, excluding the new O sand reservoirs is very doable.
Chariot just need to get on with announcing progress on these projects.
Jimmy
@thebold ‘they have advised FID will proceed’. Really? That is reassuring news. Where did Energean commit to this?
Thebold, you make a good point: "Just like Anchois 2, where we were drilling into proven gas reservoirs and most thought it was a wild cat exploration well. " Remind me how much extra gas Duncan Wallace found in Anchois. I imagine he has used that experience to design the drills for Loukos. I hope he is successful this time too.
BDC,
Very good and very true.
ENOG sign off for Moroccan offshore licence equity changes is now literally an any day event.
I've found myself in discussion(s) with bad faith actors on here before. Best thing to do is quickly correct any misinformation with facts and links and then end the discussion.
Never wrestle with pigs.
The pig enjoys it.
You get dirty.
Fat finger Tuesday. *useful posts (not right awful posts)
Rant over. Carry on.
To clarify, first post meant for The Bold, other one for Mr Plow.