The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
17-Apr-23 16:23:36 1.18 249,671 Sell* 1.00 1.40 2,946 O
Actually it was my buy,
Convinced that it can't be long before Perenco announce they are awarded operatorship.
"Morocco Oil and Gas Summit in May is sold out already" - source please ?
Again source please "a few new operators booked up looking to get into the country including MOL, Harbour, Savannah and United accordign to the web"
KB - what would you expect Malcy to critique in advance. their choice of well location or licenses or perhaps overall business model ?
From inception they were aiming for high impact frontier exploration. That's what first attracted me to CHAR. It's not the current model - Anchois is lower riska nd lower upside - but it's a much more comfortable place as the world is today.
I think you mentioned this is your only holding. What first attracted you to invest in CHAR ?
KB says " As I asked Jimmy the other day but sadly he chose not to reply is FEED even RNS worthy as another poster on here suggests it is not"
In my opinion, NO. FEED compeltion alone is not newsworthy. They may choose to release but I don't believe they are compelled to announce under the ruies.
FEED is a pre-requisite to finalising the other agreements. Fund raising, whether by partnering or Equity raise, will be dilutive but for the greater good of getting to FID.
I still expect FID later this year and am waiting patiently with a way bigger holding than I would wish for.
Fazer - what's your target buyback price so we know when we can expect you to disappear.?
I might even consider selling a big tranche to push it that way for you.
Expecting your reply soon. If not I miss it, as I'll filter you shortly.
Redeye - I feel you are readig afr too much into a very simple situation.
They also had a December webcast in 2021 so to call it " seemingly out of place" seems odd.
Farming into an asset and taking a direct stake in asset holder are world's apart.
KB - Sorry to hear you are worried about your allocation to CHAR.
While I don't have all my eggs in this basket I am heavily overweight and bought more on this drop. I do have a plan to derisk some - hopefully within this tax year.
I remain very confident of the investment case and the Chariot team. i don't need to run the numbers in the detail that Jimmy has (welcome though his analysis is) to understand the opportunity here. This is not the old elephant hunting (high risk) Chariot.
As long as you don't panic on the drops (like the silly one to 13 recently) or need the cash in next 6 months I think you'll be fine. The major milestones are being ticked off and I fully expect FID will be in the earlier rather than later part of H1. But if it slips to July so what ?
Yesterday’s news from Chariot of a GSA that it has agreed key principles for long term gas sales from Anchois to ONEE of up to 0.6 BCM per year on a take or pay basis for a minimum of 10 years with gas to be delivered via the Maghreb-Europe Gas Pipeline is exceptionally good for the company.
It secures direct, domestic supply for Morocco’s existing and potential longer term gas power plant infrastructure whilst making the project ‘bankable’ for Chariot. Key parts of the deal are either too sensitive or confidential to be published but I’m confident that the price will be high and the 0.6 BCM is a great number for domestic use.
Timetable wise this accelerates the project, lawyers are hired and FID looks on for 1H 2023, maybe even Q1. It also means that gas sales can go ahead for the remaining ~.45 BCM and I get the impression that Chariot are already in negotiations with potential buyers who will be European.
Thinking Spain and the pipeline, which has infinite demand into Europe, makes the upside from Anchois and further exploration on the licence undeniably hugely prospective and icing on the cake.
All this is incredibly positive for Chariot, I spent the call yesterday ticking off many boxes, the deal makes arranging the debt more than possible, the FEED is well underway and the schedules are ready to sign. One GSA is good news, two will be fantastic and more than anything else this deal gives Chariot immense flexibility to move on with Anchois, bring gas to market and kick on with making plenty of revenue.
I am aware that my TP of 100p is way above the market but do the math, as they say and it is not unfeasible by any matter of means…
"expected to accelerate EVEN FURTHER the interest already being shown in the GBP licences."
If there had been any significant interest a deal would have been done by now.
I think you are in for a long wait.
I'm interested to know if your last offensive post was removed by a moderator or if you withrew it yourself ?
I genuinely recommend you take at look www.withouthotair.com - It is a real eye opener and should not be divisive in any way.
As a 40+ year oil industry professional, and a scientist, I am convinced that anthropgenic climate change is real.
But whether you accpet that or not, fossil fuels are also a finite resource and therefore a non-sustainable energy source.
Many years ago I was directed to www.withouthotair.com - I would recommend all energy policy wonks (and anyone who invests in energy) to read it.
For me that argument is simply "how do we transition from fossil fuels as painlessly as possible"..... gas is part of the answer.