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Transitional Power (Currently under Strategic Review) alone is worth 10p according to Stifel
Green Hydrogen Arm for free
Massive Energean deal on Lukos - have it for free also.
Onshore drills and the gas they find - have them for free also.
Easily one of the most undervalued E+P on the market.
https://www.proactiveinvestors.co.uk/companies/news/1043383/chariot-transitional-power-business-potentially-worth-10p-a-share-american-investment-bank-1043383.html
Top work Jimmy great posting keep it up fella 🙋♂️
Very appreciated R2D2 👏
Lol. And some have been saying Onshore is hardly worth the bother!! 😂
Hi o and w.
Predator numbers for cng net revenue would result in chariot generating $89 million per year from 20 mmcf per day cng production and sale.
I don’t expect chariot to have difficulties with perforation and hopefully they use the correct mud to deal with glauconite in the deeper reservoir.
Jimmy
Goon, all you have to do is slice a tranche whenever Ripley tells you to and bank your riches. Leave the trading to the traders and ease into your dotage smug in the knowledge that you are where you are and don’t need to big yourself up or brag about your success.
Hi Jimmy,
Do we know if Chariot wil be using 2 7/8" guns or the 1 11/16" guns that PTD used unsuccessfully in their rigless testing of MOU-1 and MOU-3 Sands? PRD in their last presentation did make the statement that the 2 7/8" perforating guns weren't available "due to retention by another operator". SDX, or CHAR?
Also, do you recall the netback/mmcfpd to PRD of a 20mmcfpd CNG operation, so we can work out the EBITDA for CHAR for a similar sized operation, on a success case in this drilling programme? They don't make reference to it in their latest presentation.
Same deeper sand in both wells to be drilled.
J
Hi Jimmy,
The Navette sands are shown in the presentation for the Dartois drill only. Is the secondary target in the Gaufrette drill the same sands or different?
Thanks.
The recently referenced 1tcf is for anchois offshore after drilling anchois east.
However, I also estimated some time ago 1tcf for the potential onshore of the secondary deeper target now called Navette by chariot.
The primary target onshore has been reported at 10.5 meters by SDX and chariot have reported it as similar to the B sand offshore.
Offshore we had nearly 190 meter of sand in anchois 2, in lnb 1 nearby onshore in loukos 3D seismic area they found 300 meters of gross sand reservoir with high gas readings , which if gas bearing up dip would be very exciting.
This extra 1tcf Navettevreservoir in the 3D seismic area is clearly higher risk, and it’s great it’s going to be drilled.
We might get a pleasant surprise.
Jimmy
I found the Chariot Loukos webcast dated March 2024 to be very informative and underplaying the upside possibilities onshore.
Chariot has 3D seismic over the initial drilling area covering Gaufrette and Dartois that represent just 10% of the total onshore licence area. Even in that initial 2-well drilling area, Chariot has a range of resource estimates centring on 46Bcf but with significant upside potential on deeper drilling and enhanced seismic interpretation over legacy datasets.
Chariot regards this as a "rapid commercialisation opportunity" for a CNG and/or pipeline to the local Kenitra market which offers high gas prices for supply currently. They assign an NPV of $3-5mn per Bcf for this gas, which means that this current drilling programme could validate the entire MC of Chariot in a matter of a few months from now, with all the rest of the Loukos play, AND Anchois in for a free ride!!
Of course, it's all subject to flow testing, ha ha. Let the games begin....
Is my reading of 30k volume on Friday accurate? That is incredibly high for char no?
As far as i can see no-one here has ramped 1tcf for onshore gas , no mention of it , so not sure where its come from. Jimmy clearly alluded the 1TCF would be from the O sands in AE ,this is offshore, not onshore … 100BCF potential just now, has been stated for onshore which if so, would be transformational to Chariot , in fact ANY onshore commercial discovery will be transformational for Chariot, If people want to read about rampings of multiple Double digit TCF of onshore gas and future market caps of $2- 3 billion from morrocan onshore gas only, etc, suggest they invest in PRD. There is plenty of that there. ( I also hold stock there btw) … i like the fact that things are kept very real here with out the hyper ramping , on the contrary, I would say over half the posters here are extremely pessimistic and even bordering constant de ramping, they shout down a lot of positivity , even though they hold stock.. this is what comes with acute investor fatigue i think, but i dont really know… lots happening here short ,medium and long term..
Agree 1tcf is not for onshore but offshore yes,
for onshore they said 10 bcf which go to 26 bcf, keep it realistic, it can go up to 100 bcf with second well, will be very good if it goes to 100 bcf with first well and then 300 bcf with second well
I think the onshore will be good for us but struggle to believe it will unlock 1tcf.
Thanks for the reply Jimmy 😉
KB.
I would add that uk oil valuations are now very much based on near term net revenue generation. So loukos is important as it will have a quick route to cashflow generation via the jv with vivo. This should sustain chariot till anchois is in production in 2-3 years.
I am expecting anchois east to be successfull including proving up the O sands, increasing gross reserves to 1tcf.
The cash generating capacity of loukos and anchois is substantial and will provide capacity for large dividend payments quickly. When the market recognises this then share price will move up quickly.
I have had to be much more patient than I expected all those years ago .
Jimmy
Hi Kingbilly.
I was excited about Namibia because I was convinced that oil source rocks were present. More than ten years later over 12b bbls of oil have been found. Not a good business model to wait that long for a discovery and chariot has suffered huge equity dilution as successive high impact exploration wells failed. The farm out model of financing for exploration did not work.
Till anchois.
The development of anchois is not dependant on equity financing, however, it likely that chariot will need equity to fund overheads if the loukos onshore drilling is not successful.
Hence the most likely reason for such a big discount in share price.
I like loukos, because they are using the same geological model that worked well offshore and which has been repeatedly proven onshore Morocco.
Renewables are a long payback project, but needs third party finance.
Hydrogen is currently uneconomical and needs a change in technology.
Jimmy
Good to know you are still excited Jimmy but then again you are an eternal optimist when it comes to chariot, right back from the days of elephant hunting right through to the current gas play.
Any thoughts on the current share price given the "potential" we may be about to discover, the reserves that have already been discovered and the deals that have been done.
I appreciate you are most definitely a glass half full type of poster/investor but would be interested in your views if you'd be kind enough to share them with the rest of us on here, specifically the current star price.
Kingbilly,
Actually, I am excited about chariots drilling in loukos as I believe it will rapidly lead to production cashflow and negate the equity dilution discount that the market applies to chariots valuation.
There is a reasonable chance that the deeper Navette reservoir is gas bearing also , that would be transformative, but its exploration risk. We will know soon enough.
Jimmy
Indeed, Jimmy's excitement seems to have dwindled with chariot as much as the share price🤷♂️
Jimmy - Predator ? Getting so excited you're in the wrong house!
Wrong company posting.
The mou 4 rns stated.
“ As previously announced the culmination of the Jurassic carbonate target lies 2.6 kilometres to the southeast of the MOU-4 well location and significantly higher than at the MOU-4 well location. Therefore a positive rigless testing result in this zone would help to de-risk the larger Jurassic structural closure in respect of reservoir development and migration of gas. These were two of the most significant pre-drill exploration risks.”
A flow test would validate the gas presence. If not present save the cost of drilling mou 5.
In addition, a flow test may establish either a gas water contact or a more unlikely gas condensate contact.
Jimmy
I guess i am very misunderstod
I would not be selling at 9p when I have already clearly said that imo It will all come good ...... one day!
Isn’t Beacon Energy where Larry “passenger” Bottomly ended up? Best of luck with that: you’ll need it.