Member Info for bigguboi

Hi Amateur. The discovery has already been made at Anchois-2 months ago and you can observe the chart to see how the market has reacted so far. We will get more data as the CPR comes out and I believe the market will be pleased. That aside, in two to three years (more likely the latter because things take time) cashflow will begin from Anchois. I believe the share price will appreciate the closer we get to first gas, and the more production ramps up there. And if the market doesn't put a bigger number on the shares then Chariot can also pay dividends or do buybacks. Fair value will be reached eventually one way or another, but patience is required as Chariot isn't producing anything yet.

What's the share price a year or two from now on is anybody's guess though. Depends from a lot of variables. Of course there is the risk that the share price goes down, but I'm in this for the longer haul. I'm just going to sit tight and add to my pile of shares when I see weakness.

To add, once again I don't see how we can end up with 5b shares. That's about £850 million pounds worth of equity issued at the current share price. Kind of ludicrous when you do the math, which is why you should always just do the math and ignore the emotions.

Hi Fernan,
I actually agree with you when you say it'll take longer than three years for the full value to be realized at Anchois. In fact it will likely take a decade for that to happen because we simply have only scratched the surface there. There may be over 5Tcf or even 10Tcf to be found but we simply do not know yet. However, in three years' time Chariot will develop two or three wells and begin producing gas. This will cause the market to realize the value of the company, i.e. share price and market capitalization will increase. This means that any equity that might have to be issued is actually much less because the equity is just worth more -- which when taking into account the sheer cashflow that comes from production would be less necessary anyways.

Just pull out the calculator and do the math man. You'll sleep your nights better trust me.

We get it Fernan, you don't like dilution. You've made that clear already. But consider the following: they didn't hand out any warrants and they brokered & immediately settled this financing at essentially market price. The dilution was smartly done. AP doesn't want to dilute himself more than is necessary obviously. Chariot will shepard shareholder value and we will be rewarded for patience. Frankly I think it's a bit ridiculous that you actually expect us to 5x the shares outstanding within three years. Even my most conservative & negative assumption would only be maybe 2-3b shares, and when I do the math guess what I still see Chariot as a multibagger.

I suppose if any of these II's holdings end up exceeding 3% they will report it. But we'll see about that after the raise is closed for good

I guess I'll contact them then. Thanks Matrix

Huh, that's weird. It says "max value for oversubscribe is 0" for me. That's weird considering my portfolio shows both my entitlement as well as an oversubscription portion. I wonder why I cannot oversubscribe.

Anybody using Interactive Brokers here? Is there a way to oversubscribe the rights offering? I'm not able to.

Highlights of the new presentation for me:

-Offshore field comparisons: Cassiopeia Argo which is in development right now has five wells planned, variable water depth (5-600m), 60km flowline and 200mmscf/d peak production, 600Bcf resource -- CAPEX $600 million. Also Vermilion's Corrib is awfully similar to Anchois: 600Bcf resource, 80km offshore, water depth 350m, processing facility capacity 260mmscf/d.
Anchois-1 water depth was 388m, it's located about 70km offshore, two or three wells are planned initially and the 2C resource is likely going to be somewhere around 1Tcf -- will the processing facility be built for +200mmscf/d operations?! Also the CAPEX at Cassiopeia Argo is very encouraging and about the same as I have before said I expect for Anchois.

-"Gas new venture" at page 12... I hope it means another well at Anchois (North?)

-FEED is ready to commence according to page 6, but in page 12 it says reserve report is before that. To me that means we may get a reserve report after the financing is done, and after that it's time for Chariot to funnel those bucks to the FEED.

-More detailed plans laid out on Project Nour at page 11, nice to see.

Personally I expect £1.5B market cap once Anchois is in full production with two or three wells. And there's still lots of room to grow from there as well.

The windfall tax would not affect Chariot's profits but such a tax if implemented could incentivize majors to invest in projects such as Anchois, i.e. increase chances of a takeover bid

Correction, it's called "Guelmin-Oued Noun"

Jimmy, Total has its own hydrogen project in Morocco, called Project Noun. Also 10GW same as our Mauritania project.

The publicly available data would point to a ~1Tcf reserve but who knows what the CPR brings. I certainly wouldn't mind being positively surprised. The prospects adjacent to Anchois-2 that are connected by faults will, as Jimmy has pointed out, be very important for propable reserves as well

It's the nature of the biz Pablo. Capital intensive space and no cashflow. You should expect equity dilution always, period, and account for it in advance. The risk of dilution is always there. But on the positive note, this equity raise has shown us that there is great demand for what Chariot offers, and this also speeds up our progress toward first gas. It's a net positive.

Pablo, if you watched the newest interview you'd know the placing was made in order to speed up progress at Anchois to reach FID & debt finance, plus in order to finance green energy projects. Chariot will get there, patience. After the CPR is done expect FEED, FID and debt finance news.

https://www.upstreamonline.com/hydrogen/mauritania-green-hydrogen-project-takes-step-forward-with-chariot-pact/2-1-1224646
Article on Chariot's 10GW Mauritania project

https://www.upstreamonline.com/exploration/shell-to-kick-start-second-namibia-drilling-campaign-by-end-of-2022/2-1-1224616
Shell to begin second drilling campaign in Namibia by end of year

IIRC Total has its own separate hydrogen project already, Cenkos is likely referring that

https://oilprice.com/Energy/Energy-General/Europes-Largest-Port-Plans-To-Become-A-Major-Hydrogen-Hub.html

I'd like to see those PFS numbers. Maybe we'll see more on that soon.