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Sasa & KingBilly Absolutely. Our shares are represented by valuable gas and we have no reason to believe that the gas cannot be turned into good cash. Wait and be patient. When the price moves upwards it will be more difficult to judge when to sell than it is to judge whether we have a valuable asset.
Don't disagree sasa and if a "cash rich predator" came a knocking with a decent offer I for one would be happy, admittedly I suspect my average is higher than most, but I would be hopeful any offer at this stage would still allow me to see a small profit.
🕖 checks will be made by most LTH's I suspect over the rest of this month hoping for the RNS, let's just hope if it does arrive it is not one to inform us all of a delay.
Standing by "on tenter🪝s"
Agreed, kingbilly - it has been a long / arduous journey for many LTH's here - the CHAR 'hallmark' so far...
If there is any further delay, that's probably due to the present 'risk off' syndrome prevailing right now but that does open the door to a cash rich predator if the FID / GSA remain difficult to secure, bearing in mind that the Moroccan Govt. is keen to get this important discovery commercialised, asap.
Anchois and the surrounding licence areas are very valuable, as we know and I'd expect confirmation of either event soon to see the sp push quickly beyond the 20p level and any predatory interest to dramatically amplify that move, of course - ergo overall, I'm just sittin' / waitin' this out like the rest of us... sasa.
@Jagua Unloved? Possibly by some😢
Forgotten? Not by many of us LTH's I would have thought 😣
So forgive me (and others) if we feel the need to speculate/moan/groan in the meantime as it is not just all about the end result for many of us, we are here for the camaraderie😂 with some happy👏 thrown in for good measure.
It has been a very arduous journey for many LTH's who I suspect like myself are now hoping we might just be about to turn the corner, however, sadly I am starting to fear it may not be in June, as many of us are hoping. Granted there are still 9 trading days to go so not long to wait and find out🤔
Perhaps the question should be is - Do we think we will see a substantive rise upon either the completion of the GSA and or the FID being made, will it even take us above the 18p level once again? Or will it be another damp squib? 😐
9 working days to end of h1, end of year report and an update on fid by then, if they arrive we will have something to talk about, if they don't we will have something to moan about until then this share is unloved and forgotten
Fair dos seedy👍
Agreed KB - and some of the chat details posted on here have been interesting and encouraging for us LTHs.
I was merely pointing out that because only a few are expressing concerns it doesn’t necessarily follow that everyone else is feeling happy and ‘rosey’ 😊
@seedy - There was me thinking the whole purpose of a chat forum was for "discussion" no? Nuff said😉
I think there are plenty of us just sitting and waiting - and who really see no point in continually ‘expressing concerns’ on this BB
Its a big concern that like you say back in December we got what we thought was the start of the news,to be told "Shortly" we are sitting at these levels. Seriously though,is it only a few posters on here like us that are expressing concerns and the others think its all rosey? Am I missing something here 🤔🤔This week will be IMO a defining moment as we near the end of June...Buckle up
Totally agree Gooner. The concerning bit for me is why there appears to be so little appetite when we are supposedly so close to news that could be the catalyst, which at the very least will surely see us back above 18p level.....(hopefully well above)
🧍by waiting patiently
Chariot always pose more questions than answers KB.
It’s a mare of a stock to be in but all would be forgiven if team AP can finally put to bed all of the doubt and speculation.
Morning Gooner. "Not the end of the world if timelines slip" I suppose not as we're well accustomed to it but does it raise the question why? As the announcement about the GSA being agreed in principle was on the 12th of December which is now over 6 months, granted I have no idea about the timings of such things but it does seem a looooonnnngggg time ago now.
Looking at the current share price and volumes traded it certainly doesn't feel like we are about to receive the "RNS"
I am thinking the "Final Results" RNS could land this week also which should make interesting reading.
No sign of the Jam🫙 just yet.....🤔
Morning KB. Not the end of the world if timelines slip (which looks highly likely) but it’s not a good look. Maybe they should lower expectations and stretch the timelines for sentiment purposes. Under promise and over deliver and all that. 🤔
Not many days left in H1...... tick tock.......tick tock
Hi surfit,
My posting was in answer to your question does anybody have any examples of takeovers of companies with undeveloped discoveries.
The value of chariot is dependant on three factors, reserves and probable reserves , production flow rates and gas prices.
Jimmy
Hey Jim
A reasonable example: do the figures compare
Cove 463 million shares 2012
November 2010: £110 million at £0.76 per share
In August 2012, Cove was sold to PTTEP for £1.2 billion (£2.40 per share). It was one of 2012's most prominent public takeovers worldwide.
Ref Wikipedia
"Coves long-running takeover saga has finally come to an end after Thai state oil firm PTT Exploration & Production announced Friday that its $1.9 billion offer for the East Africa-focused firm had been declared wholly unconditional.
PTTEP said that it had received valid acceptances from Cove shareholders in respect of more than 463 million shares. This represents approximately 94.3 percent of the existing share capital of the company – well in excess of the 75 percent required for it to takeover the company"
CHAR 960 million shares at 15.28p
Not being a kill joy, hope fully cautious.
I did buy RockRose (Andrew Austin Company) approx 660p and even up to 800p was bought over at 1,830p but they had a working asset(s)
What I liked was the VERY low number of shares
Bought into Kistos (Andrew Austin Company 150p and averaged up....he likes to get bought over.
Also low number of shares.
Hence my fury (stong I know) how this board have rerated the share through dilution and (imho) inspired a lack of market confidence through....well you know my thought on there fiscal approach todate.
So I am not totally anti a take over but in this case if it is (imho) not anywhere near 70p.
BUT I most sincerely hope I AM wrong, I just would advise caution on (IMHO) speculative figures.
Respectfully Sft
Morroco a great project but let's see what AP secures for gas AND his other unclear money spending...the market will let us know soon enough.
GLA
Always love reading your posts for perspective and with feet firmly on the ground.
I like most of the others are still dreamers BUT ☝️….. dreams can come true 😀👍
PS I love the introduction of emojis. Absolutely life changing.
I am a tad concerned with the absence of the AIM 🤡 though? Hope she is ok 😕
All the best KB.
We have the ultimate prize, what could go wrong?
AP and his team need to show us the money whether it’s within timelines or not.
One thing with chariot is they forever underwhelm.
Onto Monday now for the completed GSA?
Approximately 500,000 shares sold today and not much more than 10,000 bought so me thinks that we maybe shouldn't get overly excited about silly money or a buyout happening on Monday next week, or likely even Tuesday, but you never know maybe on Wednesday😉😜Have a good weekend all and enjoy the sunshine......
1.2 billion takeover
Surfit,
It seems you are unaware of the takeover of cove energy which had a small interest in a large undeveloped gas discovery off Mozambique and was purchased at a huge premium.
Jimmy
963.69m x 0.75= £722,767,500.
Has any one got ANY examples of this sort of buy out EVER happening?????
I would like to hear of ANY example? Especially with a company with NO assets. AP needs to build rather than just SPEND
You could look at JOG and Buchan field?
https://www.google.co.uk/amp/s/www.oedigital.com/amp/news/505653-jersey-oil-gas-gets-buchan-license-extension-and-green-light-for-neo-farm-out
Or Rockrose (sold) or Kistos both ran by Andrew Austin
Sorry and respectfully....no buy out happenings.
GET deals done, projects built and gas flowing earns money...not buying "random" Water desalination containers companies.
The market values us to what they think we are worth NOT unfortunately what we think we are worth....which is a bit of a bugger (-:
Rgds Sft
Smyth all this silence is deafening but there are still 10 trading days to go so they might just surprise us all with that "RNS" we are all yearning for....
Totally agree gooner, as would I, but this talk of numbers in the region of a £1 seems a million miles away at the moment, pie in the sky if you will.
Personally I would be delighted with Jimmy's 75p valuation for a takoever.
I thnk £1 is realitsic too within 2-3 years. Just two more milestones to hit once AP and his team are back from their sabatical and then its just a strap in and enjoy the ride for me (-: