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GP & All I have always maintained that the sp is a false figure until we smell some real gas and have deals to sell it for real dosh. When that happens there is more chance of the sp beginning to reflect the value of the Company. Although I would rather the starting point is more like 20p than 10p, the way these O & G shares yoyo up and down we could see huge increases when we see results ........
Bubble I have always maintained that if one of our biggest buyers sells out it will kill sentiment as it
has done all the way from 14p.
Imo only over achievement on the drills will see an uptick in SP and we will only see a significant rerate if / when we see a revenue stream. When I say a long term investment I mean long!
I'll be leaving a significant amount (for me anyway) in my ISA but a larger chunk is with Lloyds. Decent divi's there if you have a worthwhile capital invested.
Whatever the reason GP, they can only sell em once, and it may even be totally unrelated to Chariot, maybe for some other underlying reason of their own. as you say, we will never know, but I am sure most here would rather they were out sooner than later, we don't need them doing their selling when the ball starts rolling here for sure.
How crazy with the aforesaid potential, we have significant unloader(s) with assumed info that us little people would not be privvy too? Why sell so aggressively and assuming at a loss?
Even with the most "expert" opinion here we are all very much in the dark.
Let's all hope we can get a decent offer for a buyout.
Mr plow
There is potential in the deeper reservoir to be drilled by chariot, however, chariot have not provided a prospective resource so I roughly calculated a 1tcf potential, got to be drilled to be proven though.
However, the previous welllnb1 found 300 meters of reservoir with high gas shows, but could not log the well due to adverse hole conditions.
The reason the forthcoming onshore wells are interesting is that they will be deepened to evaluate that reservoir section.
Offshore at anchois, thin shale sequences and blue marl intersections provide an excellent intra reservoir seal and I expect these to be present onshore also, so we have to drill to prove it.
The shallower reservoir onshore has been reported by SDX previously at 10.5 meters in the 3D area, so two wells could produce 21 mmcf per day, higher than chariots estimate, but in line with average flow rates per meter in the rharb basin. At $12an mcf, that’s a nice cash producer.
Jimmy
The selling has killed any share price rise and has been non stop. The fact that we still haven't had the Loukos RNS hasn't helped matters either, especially now well into April. The way things are going, you don't know if the next move will be back up to 10p or back down to 8p!
Yeah agreed GP and Ianfer. In my mind, there's really only one thing that really matters this year - and that's whether Energean exercise their option for the additional 10%. If yes, I think there's no reason we shouldn't climb to 50p or more - especially if AE results offer more upside. Obviously if they don't exercise their option then either the results were bad and they don't want to take FID (worst case scenario), or they do want to proceed to FID but don't want the extra 10% - this scenario would be problematic for Chariot I think.
I can't see onshore moving the needle much this year - the volumes are too low. Unless Jimmy turns out to be correct and they find 1 TCF down there. That might even be problematic for Energean and a buy out could be on the cards. But given that I haven't seen any real mention of this possibility outside anonymous internet forums, I'm not hanging my hat on it.
I agree GP. When (not if, I hope!) things start moving, we need a higher springboard.
Bubble I don't think there will be much of a drop and at best we may even stay neutral. My concern as an investor who would like to make some money here, going into these "imminent" drills at our "undervalued" SP is a concern.
I am not in agreeance about the chance of much of a drop on spud,
Yes I would agree if we were still high in the teens, but as this has been ripped a new bumhole by the seller since the offshore deal, then it is now notably undervalued and only just in recovery process.
Add to that, these drills are likely going to be pretty quick, likely well under a month from spud to possible testing, so not much room to play the cycle, AND there is a LOT of potential for daily, weekly RNS flow on all fronts once this kicks off.
‘It’s a long term one’ - the truest thing ever said about CHAR
Bridgedogg1 Its what i have been saying all along.
People will de-risk at spud and Char being in the 8's is not healthy. If this is the news you are waiting for then you will be dissapointed. If the strengthening of finances with the Energean deal couldn't boost the SP then nothing will, maybe only some success in the drills and imo that may be just a spike on the day. It's a long term one this one unless we can get bought out!
I noticed that SDX SP dropped since they spudded. 🙄
I can if traders stop feeding the 50-100k buyer.
I can't see it changing, while those A trades are still happening.
More buying than selling again today - at my last count about £40,000 more so far. It is happening a lot recently as sp drifts. Is a stake being built up with the few sells and keeping the sp down to encourage the impatient to dispose?
Looks to be going the other way right now. Very difficult to fathom the current share price given the macro fundamentals here and near term drivers coming up. This seller or selling just seems to hammers any rise/counteract any periods of buying.
Slow steady climb back up to 10p while we wait on news. Rig could be moving this weekend. Transformational energy asset sale. Offshore details.
Plenty to come very soon. Wish I had some powder dry.
Ps …I mixed you up with dick olderwiser
OaW….you are indeed correct so accept my apology as I fall on my sword.
This week the share price has paused but again today more buys than sell and it should continue its upward trend speedily
Hi OaW.
My calculation of the 1tcf potential was not based on continuity of the deeper reservoir between prospects, but based on the same prospect area as the shallow low risk reservoirs, but at a reservoir thickness of 150 meters, being 50% of what was found previously in lnb1.
Good question about the challenges of drilling the deeper lnb 1 reservoir, chariot have a very experienced drilling team and I am sure they will be planning to deal with those issues encountered by predator at mou 2 and by SDX on deep lnb1.
Jimmy
Thanks for that, Jimmy.
To get towards your 1Tcf target, does gas need to be confirmed at both well locations, indicating continuity between the two prospects?
And is there any potential problem about well formation damage such as Prd encountered at MOU-2?
Good evening OaW.
There are two targets in the forthcoming loukos wells.
Both reservoir targets were previously intersected by SDX in previous wells .
The shallower target intersected a gas water contact and was relatively thin reservoirs, the deeper prospect interesected a gross reservoir of 300 meters with strong gas shows , but could not be wire line logged due to reservoir conditions.
Because these reservoirs are the same age as the offshore anchois b sands , chariot were able to reprocess he 3D seismic and identify the 100 bcf prospects up dip from the lnb 1 well drilled by SDX.
SDX, had not reprocessed the seismic and hence missed the opportunity for follow up drilling.
The 1tcf prospect opportunity for the area only applies if the deeper reservoir found in lnb 1 is gas bearing up dip, and this deeper reservoir has been identified in the new seismic up dip and will be drilled by each of the forthcoming 2wells
Because chariot have such a great database for these reservoirs from offshore it allows them to identify such opportunities.
I feel very confident gas will be found , and there is a reasonable chance for gas in the deeper reservoir.
Jimmy
Dbh, you're the ****, I'm afraid. Please check the handles again. I've never been anywhere near matd. Ever .