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We should see 5p+ very soon
If they brought a country director it seems to me that he is involved in the negotiations, and will be able to use his experience to secure some deal.
"On behalf of everyone at Chariot, I am very pleased to welcome Pierre Raillard as Morocco Country Director. His considerable experience in driving forward, and helping to create value from natural gas projects across the African continent makes him extremely well qualified to help us advance the Lixus licence in Morocco. We are pleased to further strengthen the leadership team and look forward to his contribution at this exciting time for Chariot and all of our stakeholders."
Looking forward to futher updates that must be due soon. Holding and loading at this undervaled Mcap
there is not much left below 5p, so we should move past it pretty swiftly me thinks.
Good summary PV.
It seems Adonis is lining up the pins. Has he got the clout to prize the necessary development capital out of the banks? Will he need to partner with a major to enhance Char's credibility? Char's presentation of July '20 says: "Secure HOT on GSAs; LOI on Dev funding and Upstream Partnering' by the end of Q4, so I'm expecting more encouraging newsflow very soon. AP has to be careful not to have Lixus 'stolen' by a 'partner.' Now that its value has been reinforced, the sharks will be circling.
Already undervalued just on the size of the assets alone. If CHARs Mcap was 35mil that would be completely justified, and still be a multibagger from there. I love when all of a company's history start to come fruition. We should be a double digit share soon. The uptrend continues. Have a great day all.
Buy is showing as 4.90 on Hl at moment.....think it's time for an update off our Bod?
looking to break out above 5p now can see it easily past it this week.
Trying to help....:) managed to get 57k at 4.39 at open :)
volume continuing nicely could be 2-3 million again today ;)
Had the highest weekly close last week, can see more momentum this week
Good morning all, happy monday.
Development Plan
· Reservoir and integrated asset modelling completed, Pre-FEED study commissioned and optimised development concept finalised with a major engineering consultancy, with initial reference base case economics highly encouraging
· 70MMscfd base case production rate, equivalent to a power generating potential of c.600MW electricity and with capex reduced c.30% relative to 2019 feasibility study. Work continues to further reduce uncertainties in the range of costs
Gas Market
· Large and growing energy market in Morocco with attractive indicative pricing of US$8/mmbtu in power generation and US$10-11/mmbtu in industry based on public information of other operators in Morocco
· Engagement continues with potential off-takers both within the domestic Moroccan gas market and through the Maghreb-Europe pipeline to potential off-takers in the European gas market
Funding
· Discussions continue with a variety of parties for the provision of development debt finance. The feedback is encouraging and demonstrates the project's fundability and materiality at an institutional level
· An active E&P partnering process is ongoing to fund the appraisal well. New pre-stack depth migration ("PSDM") reprocessed data with material resource upgrade has encouraged further groups to come into the data room
Discussions are ongoing with state electricity company, private power generators and industrial users within the domestic Moroccan gas market and through the Mahgreb-Europe pipeline to potential off-takers in the European gas markets.
In the post period discussions have progressed with a range of interest parties to provide development debt finance. These discussions take into account the estimated capex required to bring the development online, anticipated to be in the region of US$300-500 million, but they also identify Lixus as being an important strategic asset, with strong ESG credentials, that has the potential to help Morocco transition to a low carbon economy, as it seeks to satisfy an anticipated doubling in domestic demand for energy over the next 20 years.
Re Sharing for new investors looking in. Looking forward to hearing the outcome of the negotiations currently taking place.
Sub 17mil mcap with a Derisked production ready 5bil barrels gas equivalent.
Ready for 70mmscfd when the price above $8-$11
70 million ÷ 1000 = 70,000 x $8 = $560,000 per day