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His final paragraph (of the 3 posted here) shows how worthless that analysis is...
"Share price movements in the last few sessions tend to fortify a belief that something substantial is taking place and with the price currently trading around 22.8p, it appears that we can allocate 24.3p as a sane trigger level, which should promote further growth.
Apparently this trigger level should be quite a big deal, capable of exceeding the highs at the start of 2018 and moving immediate gain potentials into big picture territory. In other words, above just 24.3p calculates with the potential of an initial 32p with secondary, if bettered, a longer-term 42p.
To spoil the party, the share price needs to relax below blue on the chart, a long-term downtrend currently around 13p. Without exaggeration, a mess such as this could prove quite dreadful as a decline to an eventual 2p becomes possible."
I may very well not be lucky tomorrow. In which case I will dump the rest if it hits 26.5 and then buy it all back later....
... nothing goes up in a straight line. I know that to my detriment.
I will be honest though, and will admit if/when I am wrong. I have had lots of practice,
i fully expect a retrace after 12 blue days.
... my buy order is in at 2p below my sale price of Friday afternoon.
Which of you will be buying on the open ?
I still have more than 505 of what I held on Friday morning, and hope to well stocked for a run to 30+ before the second May Bank Holiday.
GLA
Speedy,
I have held far too many, for far too long at far too high an average.
When Covid hit and the oil price crashed, CHAR's drop to 2p almost made me tell my better half !
I regretted not selling a few at 12p on Anchois 2 news and waiting to buy back at 9p. Maybe this time I will have got it right. But if not and I've done a Gooner then my portfolio is a bit more in balance with fewer CHAR.
Coolmax,
Please don't take this as a criticism - but I struggle to understand why with 10x you didn't take profit.
The post financial crash days (2010-12) were heady for O&G exploration. Equity prices were high and explorers were flavour of the month ((year(s)) but this is a cyclical business - I know from 4+ decades working in it. The industry has had a few years of hell recently (since 2014 really) and now we are booming again but it won't last.
For most of my time invested with CHAR I have been underwater. But I believed the Namibia vision and then Brazil. I didn't set much store by Anchois but have been proved wrong.
I may be proved wrong again on Monday morning when CHAR release a CPR, but in truth I believe we have 6 or more weeks now of limited news. I expect the price to hover below 20 and maybe fall below 17. So I sold ~250K shares today and booked a decent profit.
If I am wrong and, at 7am Monday the CPR drops the price will rocket and my remaining 250K shares will worth much more. In fact I think that would be my preference...
GLA
Well, come Monday you may prove me a lunatic.
I took some profit in last 45 mins of trading with the hope to buy back in on a pullback on Monday.
I still have 60% of my holding. So will be glad of a huge rise on Monday - or a couple of pence pullback.
GLA
Click on the blue square...
Etinde, Cameroon
NewAge interest
37.5% (operator)
Discoveries
Etinde Field
Work programme
Appraisal and development / Final investment decision pending
...as I said no REAL change.
We all await results of IM-6.
AziNam, owned by Seacrest group got 20% when they funded the seismic. Remember their sister company Azilat dropped Brazil when they could not agree terms with Chariot... "Since initial agreement, which was announced on 20 August 2014, AziLat has requested amendments to the commercial terms of the farm-out which are unacceptable to Chariot as they do not reflect the high potential of the assets and are therefore not in the interests of the Company nor its shareholders" There isn't going to be a BIG partner with a BIG stake. Chariot will operate this well and are looking now for farminees to share risk. Larry stated as much on today's call. I expect rig contract announcement in weeks rather than months.
Oiltap, I would suggest AziNam's stake IS 3rd party validation. Chariot holds a 65% interest and operatorship in Blocks 2312 and 2412A in partnership with AziNam (20%), and NAMCOR and a local partner Ignitus Oil & Gas (PTY) hold a 10% and 5% carried interest respectively.