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King Billy,
The H1 target was disclosed by AP in a question and answer session with shareholders late last year.
Jimmy
Hmm, I must admit i'm starting to struggle a little with the "Positive Pete" persona, and that slide in the latest presentation is not clear about H1 and me thinks that was no mistake. Still, it's just 4 weeks to go and all will be revealed.
We will also have the "Final Results" coming up before the end of June, which, unless there is to be news beforehand may not be as exciting as we would all have hoped, in particular with regards to the current cash position.
Argh, Jam tomorrow anyone🫣
Standing by🧍
Nice one Nick. I think IF you get any response it will be that they will update the market accordingly. I don’t think you will be any wiser as it’s all very sensitive information.
I’ve emailed the Chariot Investor Relations team about H1 FID so will be interested to see if I get a response.
Not sure what else they could add beyond saying GSA was at an advanced stage. The next news should be that’s it’s signed, nothing more nothing less?
Unfortunately Chariot’s timelines on the website and their PR via interviews should be taken with a pinch of salt. Over promise and under deliver and all that.
As per usual I’ll up 4 7 tomorrow ☝️
What worries me is that the FID was preceded by the gas sale agreement, then the finance agreement, neither of which have been announced to date.
They did say the GSA was very advanced way back in jan/feb time. Now I know these things always take longer than anticipated but that does not stop the BoD making some progress announcements.
GLA
Seriously are you for real with comments like that??? Assuming you have been here like 5 mins,ffs.
In the last 12 months or more I have only seen good news about Chariot. I suspect the shares are drifting lower because Investors are becoming impatient and selling in bits. Brokers/Jobbers will be picking them up cheap. Only 4 weeks ago we had this from A.P. :-
Adonis Pouroulis, Chariot CEO, commented:
“We are delighted to be partnering with Vivo Energy, a company which has an extensive footprint in
Morocco and the African continent, to develop and deliver a long-term supply of natural gas across the
rapidly growing industrial sector in country.
“Morocco’s significant industrial gas demand, which this partnership will supply into, further supports
the commercial viability of the Anchois project. This agreement confirms the priority given by Chariot to
the Moroccan energy market, expands upon our other existing sales negotiations around future offtakes
for the gas from the Anchois gas field and sets out a collaborative partnership with one of the continent’s
leading energy distributors, as we continue to develop this high margin low risk asset.”
"High Margin Low Risk" !! Shares to double soon? June Tomorrow.....
Could always ask Chariot Investor Relations? They should provide an answer on information put out on a company publication?
Maybe?
Rgds Sft
Thanks Gooner. Just looking again at it. Could it actually mean H1 of 2023 financial year i.e. by the end of September 2023? It reads as in half year of the calendar year and would presume if it meant fiscal year it would say H1 2023/2024 rather than just H1 2023 but with Char I find it best not to assume anything!
Coolmax,its total and utter shocking the levels we are now seeing. Its coming to within the end of H1 and we are seeing no upside and that concerns we dearly. I have this strange feeling that this is due to another share offer at 13-14p. We willhear again these brokers rating at 30,40 etc but they are so far off the mark its embarrassing. Sitting at down 7%currently is not helping this. Absolutely and utterly disheartened by this last year and after all the hype posts to suggest otherwise...Bloody hell :-@
The performance of this share is becoming dreadful now, hopefully we get some positive news in the next few days
Nick, it mentions it on Slide 7 on The Chariot Transitional Gas presentation Dated 12.12 22
30 days to go until end of H1 ......
Morning all. Getting very quiet on here. I think we are all getting very depressed with how this is drifting again with no news. Can anyone remember where the reference to FID in H1 comes from? I can't find it in any of the presentation documents. Was it in one of the interviews? Thanks
Current costs for Hydrogen globally will be high.
IRENA.org the international renewable site gives information on developments, countries working on Hydrogen projects and projected costs. It also gives costs disparity due to water desalination needs.
$1 per kg is not so far away.
1 barrel of oil has the energy content equivalent to 47,3 kg of hydrogen
https://h2tools.org/hyarc/calculator-tools/energy-equivalency-fuels
Current production cost of green hydrogen is US$ 5-6 per kg.
https://energypost.eu/financing-renewable-hydrogen-globally-ramp-up-to-2030-only-needs-150bn-year/
Then, current cost of green hydrogen is equivalent to a price of aprox US$ 250-300 per barrel of oil.
"Amin Nasser, CEO of Saudi Aramco, previously stated that blue hydrogen costs $250 per barrel of oil equivalent (boe), which suggests that customers in the EU, Japan, or South Korea would not be willing to procure it at such prices"
https://oilprice.com/Alternative-Energy/Fuel-Cells/Is-Green-Hydrogen-Being-Overhyped.html
Fair play Gamma.
Of course complex contracts would normally take some time to finalise and to be fair we are still within the timeline of H1 to wrap it all up. Even if it slips beyond then I will still remain confident but just not so confident of any SP rerate.
Nick11 - Yes the wait for information is frustrating, but as you point out they can't share confidential contract information. An update on the programme would be helpful.
Gooner - I haven't been sitting here watching Chariot for the last 13 years only approx. 1 - 2 years . However I have been project managing a fair few design and construction contracts (pipework recently) for the last 30 plus years. So only sharing my own view based on career experience in an engineering role. Doesn't matter who it is , theres a whole load of work involved behind the scenes.
Gammer I tend to agree. These things take time and clearly Char aren't going to give a running commentary on the contract negotiations. It seems to me unlikely though that they will meet their target of end of June for FID. Now is the time to be telling us SH that the date might have slipped a bit rather than waiting until that date comes and goes with no news.
"Would be more worried that they rush into contracts without necessary due diligence"
They certainly aren't rushing so no worries there! How much more DD do they need?
Seems like your first experience with Chariot Gammer?
The FEED was only completed in March. Bear in mind this isn't a finished detail design. They need to write tender documents, allow time for tendering and then assessment to be in a position to understand price, programme etc. Wouldn't expect that to be completed in less than 3 months even in a rush. So June would be reasonable to have a better understanding of CAPEX. If it was my company I'd want all those various aspects of projects costs buttoned down before signing the GSA. So it may not be the "other side" holding things up, just Chariot being sensible. Would be more worried that they rush into contracts without necessary due diligence
Its worrying me the length of time its been since all these positive RNS we all thought to be again sitting at this level! The longer this schit drags on IMO we are going to see another share issue. This last year has felt 10 times longer than the last 14 years. I honestly don't believe that we have posters on here,not the happy clappers that are happy with what we are seeing.We dont sit at these levels for this length of time after the last statement from AP mentioned that word,news soon!!!! Would love to understand his terminology of that word :-@
Surfit, it’s just typical Chariot, always performing below the curve forever causing unease.
Share price drift down MOT up and STILL waiting for the gas contracts price and signed?
Could the two be related? It would not be hard to imagine that the BoDs may be involved in very tough /hard negotiations with buyers/Gov representatives on this final price. It would have been all smiles and hand shakes when signing the Gas contracts MoU but now CHAR are in deep, FEED complete and looking to fund project either through bonds, investors loans or farm out the gas price recieved vs payed out would be the time Morroco dropped its smile and brought in the unpleasantness.
Does any one have any experience (other projects) where the sign off of the gas sales contract has been left so late?
This, I SPECULATE, is where we may be at presently.
Rgds Sft
Aside from actual gas price estimations, any idea what impact partnering with a mjor player v. smaller player would have, if any, on the share price?