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I still have some confusion around the rig but at-least we are next in the drilling schedule.
We were expecting it by the end of Q1 🤷♂️
Think Char will RNS when the Rig is actually onsite at Loukos. Are we expecting this next week?
Friday? I’d aim much higher than that if there’s news.
Lets gooooooooooooo 🚀
Avg 18.2p All the best long term holders.
gooner
no stress.. all it needs is for jmw to go on interactive and give everyone one of his nod nod wink wink rehe****d “interviews”. coincide that with a more matter of fact, unconcerned state of play from ap and off we go again. char version 2.5 as ap would say.. i think it’s more a case of dads army and the shout of “don’t panic… don’t panic…”
Care to elaborate?
Endgame
We have made enough progress this last year to be well beyond single figures.
These analysts form part of the cesspit. Whilst we have a mediun target of something like in the 30's? ....amongst that we have a £1 target from Malcy the buffoon. 🙈
May be easier to try and swim with the sharks if you want to make some money.
Worth noting that Auctus have a 67p and Cenkos 71p if Energean exercise the option to acquire the next 10 percent…
DYOR
This is micro cap so share price is on near term value drivers so there’s no surprise it’s drifted when we were waiting on Q4 offshore, now onshore Q2 and offshore Q3 means it should pick up significantly higher to a level higher than the post farm out rise. No value attributed to non O&G assets, seems they will only be considered once we actually receive some cash for them.
I assume there’s a reason the offer wasn’t past on the shareholders? It must have been an informal discussion.
Just to make the point in a very straightforward way I think it is an undeniable fact the CHAR is in a much better position than it was a year ago particularly with the latest milestone of ENOG becoming the Operator. However this is not reflected in the share price because on April 13th 2023 CHAR closed at 18.15p, almost double the current share price.
This makes absolutely no sense and this should rerate to that level being the highest placing price (18p) to put those placing shares back in the money. All the analysts estimates are at a much higher level between 35 and 57p, with Malcy still at £1 plus. Interesting Times.
I take it you hail from the country set. Nothing wrong with thast, and I love horses too, but the Aintree circuit has been a notorious deathbed over the years.
A total of 65 horses have died over the course of the annual 3-day meeting since 2000. I just checked, and thankfully no horse was put down this running of the Grand National. But 2 horses did die on other races this time round.
So, Ian, eat your heart out this evening, but say a few prayers for the horses who came to an untimely death, for the sake of money and power. And respect other people's opinions before lambasting them for not agreeing with your own way of life.
Maybe older but less wise. After reading your personal view in your first sentence I cannot take a lot of notice of the rest.
Just 2 things to note. Recehorses undoubtedly enjoy racing although a very few sometimes are moody or nervous and reluctant. Secondly, Racehorses would find it difficult to survive without doing what they love, as apart from becoming lovely animals to have around a large estate, there would not be much demand to find the resources to look after them otherwise.
The 6th word in your post is quite inappropriate.
Instead of watching the annual slaughter of animals live on tv at Aintree right now, I've been getting up to scratch on CHAR starting with the December 2023 podcast, and your musings.
Inevitably, I'm comparing CHAR with PRD. MC of £100mn and £60mn respectively.
With the Energean cash terms for Anchois, assuming that project gets the green light, there is a significant embedded value of around 6p/sh. So the remainder of CHAR's business is being valued by Mr Market at around 4p/sh. If this is just for Loukos onshore alone, it suggests a large valuation mismatch if you believe the chances are good of eventually making this a 1 TCF deposit.
And in quicker time to cash flow generation than PRD at Guercif, given the way drilling and flow testing has (not) proceeded in a timely way so far, and the order sequence of rig availability this Spring.
Plus a size seller has now been taken out? And fully funded through to first production at both Anchois and Loukos.
Looks very interesting once again, especially with a reputable, entrepreneurial JV partner for the offshore project (and the same ownership interest as PRD for their onshore acreage, 75%).
Massive factor for me will be any change in Askar Alshinbayev holdings. He came from nowhere with 6.19% holding notified in July 2023 as of yet no notification to say otherwise ;
https://www.lse.co.uk/rns/CHAR/holdings-in-company-tu6uf79giow1jgc.html
We know Askar is embroiled as Kazakhstan’s Secret Billionaires and has appeared on Forbes Rich List, so what has he to do with Mgt buyout ! He's also via connection with Meridian Capital well financed as well as founding partner, interestingly the other founding partner, Yevgeniy Feld also controls a holding in CHAR via YF Finance Limited. The thing that jumps out is neither have their TR-1's associated with Meridian Capital but registered in their on individual entity... hummm !!
https://meridiancapitallimited.com/management/
So, my thinking is, will Askar and Yevgeniy together with CHAR mgt work on taking CHAR private or will Askar and Yevgeniy make a play (or anther one if it was them last year) themselves. Askar last RNS holding was announced when the SP was circa ~15.5p, so minimum offer would be above that.
Although it can't be relied upon, Simply Wall St has a valuation target of 109p/s as fair target, with analysts at ~45p/s, then of course we have Malcy constantly stating worth 100p/s
As others here have alluded too, an offer of ~30p/s imo would reflect the current risks in play. Once these risks are eliminated one by one ( not long to wait for that to commence ) the price of 30p/s would be confined to history.
This brings me back to who was it that made an approach and got knocked back and what was on offer. Lots of questions but as of yet very few answers. One thing is for sure, with what we have already we are worth significantly more than 9.84p.
Are we in play is the big one, we could well be, interesting times for CHAR shareholders !!!
aimo & dyor
Could be a factor as to why they are separating Power and Gas? I'm sure AP is also keen to see a return on his investment.
29 minutes into the presentation A.P. answered the question about any offers received for the Company.
The 'pressure' was from a direct question within the Q&A session that AP was unprepared for, hence had no choice than to let the cat out of the bag.
https://stream.brrmedia.co.uk/broadcast/preview/65705f5f85e1630925165801
aimo & dyor
What pressure NewKotb? Tnx
Would a mgt buyout be out of the question ?
Probably not I would say .... !!
Some big hitters joined our board recently with no doubt ideas of bigger and better things lead by Westward Investments (Adonis Pouroulis – CEO). The approach (which we know next to nothing about ) for our whole company that was given away under pressure on live feed interview could have been the push mgt needed. Have it or loose it !
Just a thought and putting it out there ...
aimo & dyor
Ive been here since 2010 - hopefully waiting for a wonderful payday - btw I love the humblebrag about your hovel in the lakes 🤣
Good for you GP. Obviously younger than I. I'm semi-retired and now only acting for about 5 clients and enjoying that, working when I want and taking a few days off to Bowness tomorrow. We have a house there but not on the lake shore with a boat house - always need something to aim for. GSM wouldn't do it even if 10-bagged, but Char would! .... or something else. fairhavenbowness.co.uk
I have been here since 2010.
Not seen any volume like that for some time.
this is been held at 10p to allow someone to build a stake. we should know soon.
this time I feel management will be part of this buy out so that a 30p offer is accepted. this is not the perfect outcome for those looking for 100p over time but 30-40p would probably work for most of us.
Yo Ian! I am in a privileged comfortable financial position and retired well before even early retirement age and for this I am truly grateful for so not desperately needing dosh but after observing and experiencing pain in all markets for so many years I have learnt valuable lessons
I have emotion attached here like a having a toxic gf that keeps pulling you back in but now I'll treat her like the bish she is. (With a chunk in ISA in the hope that she behaves and shows me real love and loyalty)!
There will be drops it all depends on what stakes you want to play with and the margins you are targeting if you think it will recover on any slide.
Would be great to hear of rumours of a TO, that would see a 50% rise in a morning no sweat and our man has suggested an offer was suggested (If you want to believe him)