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Some posters here seem to be very enthusiastic about the imminent drilling of the "26 bcf Gaufrette prospect"
If you read again the recent operational update, you will notice that the company didn´t inform the amount of Gaufrette´s prospective resources:
"Gaufrette prospect confirmed as the first drilling target"
"success will potentially unlock multiple similar prospects totaling 26 Bcf of Best Estimate recoverable prospective resources (preliminary internal estimate)"
I suspect Gaufrette doesn´t have more than 4 or 5 bcf of prospective resources. I expect a flow test of 1-2 mmcfd, similar to the LAM-1 well drilled by Circle oil in 2015 in the same area.
I think the real potential is in the secondary target, as Jimmy23 said
Regards
Hopefully RNS for the full ENOG ratification into the offshore licences , News floodgates will really open then. Very exciting times ahead.
So now Chariot have found the rns button what's up next?
What a strange turn lol…
Sub 10p on its way out. Hopefully, the start of the 2024 recovery in the share price for Chariot!
Thebold , Bubbles - imo the longer Etana stays attached to Chariot the more time it has to grow within the group and less likely it will be sold off too early. Lots going on now and next 2 years all exciting.
KB, not in any group so it matters not a jot, lol...
Careful there bubbles as you don't know who you are arguing with, and if you disagree with him he will just ban you from his Telegram group😂
Malchy likes today's RNs....
This is indeed a good example of how the Etana model works and that many new projects can and will go ahead either directly or in a third party fashion and given the potential of the market place has a great opportunity to grow this vast market
He has liked Chariot all the way from 20p+ to now
TheBold,
It is flawed "in your opinion" I see you are a new ALIAS poster, likely a previously BANNED one too. lol
Your opinion is fine, your centainly entitled to it, your reasoning though is flawed to me.
it makes no difference where the green credentials are under the mother companies umbrella as long as they are there , either chariot energy limited or xxxxx a chariot energy limited owned company.
Just my opinion TheBold, AS STATED !! thanks
Https://x.com/Chariot_Energy/status/1752590114914513265?s=20
Ticking up nicely - is Chariot setting up for a FOMO Friday?
And how do you work out that having a separate green renewable business totally owned by Chariot distracts from the fact that the group does /will not have green credentials.
AP has alluded a spin out as a high probability.
Personally I do not believe Chariot will split their renewables sector out from the Hydrocarbons sector, the fact they went into the renewables is actually part of having a percentage of the whole company with green credentials, something that many hydrocarbon companies are trying to show on their portfolio in this changing world we live in.
Etana are buying the power from renewable sources and selling it to the commercial/Industry/residential sectors.
Essentially, Etana is to the Hydroelectric plant as Vivo is to Chariot.
If Chariot were to spin this off into a separate business as has been hinted to in the past; what I suspect they would do is roll Etana and the renewables business together into one so that they're able to trade their own excess renewable energy supply, as well as facilitating the trading of other sources they don't own. You can easily see how this could be a very scalable business in its own right, not just in the country of South Africa, but across the entire continent. AP has a wealth of contacts across the whole of Africa.
But first they need to build the business up, hopefully we see a lot more of these trade agreements being announced. The beauty of this business is that it's very low capex.
Good time to buy in. When you consider the newsflow that is to come here in 2024, it is hard to imagine the share price ever returning to these levels again. The difference between now and before is that they finally have a partner for Lixus/Anchois with some key events taking place under that partnership. By Q1 we should have more news on offshore and onshore Morocco.
Sub 10p won't be around for too much longer me thinks.
Folks you need to tune in to all the "imminently" and "shortly's" mentioned in the operational RNS of only a few days ago.
Here is what they said on "Transitional Power"
"o THE ETANA TEAM IS CURRENTLY SECURING MULTIPLE ELECTRICITY OFFTAKE AGREEMENTS WITH A RANGE OF CONSUMERS "
First one announced only this morning.
Any idea what the revenue from this will be?
Nice late trade yesterday
Yes, as posted at close yesterday, this news was discovered by a TG poster at market close, so it was a given RNS this morning.
Etana energy of which we own 49% is starting to look like a cash cow and this will bode well when bundled up with all our other renewable assets in production and near term project commencing , when we hopefully very soon spin renewables out to a separate listed newco and float.. Chariot shareholders would certainly be in line to receive pro rota ( at ? im not sure) shares of newco for every char share held… exciting times coming here for sure..
Looks like our green energy initiatives are starting to bear fruit.
GLA
Coming thick and fast now regular updates throughout the year and beyond
Https://www.voxmarkets.co.uk/rns/announcement/f5c3e6ab-9414-4a5a-809e-89caff62ff29/