Member Info for BouncyDeadCat

Just to be clear.
Anyone telling you that the US won't buy SMR's from RR because their electrical distribution system is different, either;

*doesn't have a clue what they are talking about
*doesn't understand how electrical generation & power systems work
*both
*has a short on and thinks trying to frighten PI's out of their long positions by tell porky pies on a BB that hardly anyone reads can move the market for them (it doesn't).

it doesn't matter how small they are, the following are essential;

Experience, Experience, Experience.
Trust, Trust, Trust.

Rolls Royce
(experience and trust in building nuclear power since the 50's).

baronbog,
The electrical distribution system of the US has nothing to do with how the electrical power is actually produced. They just use different transformers to sort that out.

baronbog,
Agree that there are risks, however let's at least be realistic about some of the one's you've listed.
The west didn't trust the Chinese to build their mobile networks (even though their 5G technology was superior and cheaper than anybody else). There's no way they're going to trust them to build and install nuclear reactors on western soil.

There may be plenty of land in Africa, but for a project of this size & scale, you need a location that provides both wind & sun in equal measure and you also need a deep port from which to transport the product - which narrows down the real estate suitability criteria significantly. You also don't want to use land that could be used for something else i.e. residential or farm land. West coast of Mauritania is therefore prime real estate for green hydrogen production.

Early stages, but I agree, Project Noir could be a huge income stream for Chariot in the future. No point in using precious nat gas that's being used to heat European homes to make fertilizer when this fertilizer could be made cheaper and carbon-free from Hydrogen. Definately one for the future, but with the MOU from port of Amsterdam, it also suggests that this future may not be too far off. The project could move quickly if/when others farm in. There's certainly a market for H forming in Europe. I wouldn't be surprised if building started within the next 5 years (with major support).

Looking at the size/acerage that Adonis/Chariot has secured from the Mauritanian government for this H project - it's absolutely gigantic!

There's no reason to announce an Operations Director until/unless they have made the decision to be Operator = FID.
If they were to announce an Operations Director now, then they have reached FID. Capiche?

Meanwhile, Chariot have Pierre Raillard - Head of Gas Business & Morocco Country Director & David Brecknock - Gas Projects and Drilling Manager in place, which between them, have more than enough experience and expertise to validate costs and contractor timelines.

'Why would Europe buy from Africa and exchange one dependant supplier for another.'

Because there's no supply in mainland Europe.
All the European gas fields are located in the north sea and are running at capacity.

Simon,
Depends what your aim is. It also depends on what your life situation is like and what risk (if any) you can afford to take. If you're 25 years old and you've got a well-paid job, 32% of your portfolio in one stock may be fine for you to take on a risk/reward basis. If you're 75 years old and 1/3 of your retirement pot is in one stock - probably not a risk worth taking unless the other 2/3 is of such value & diversification that you can still live comfortably for the rest of your life on 2/3's.

Millionaires & Billionaires became rich because they concentrated risk on one or two bets that paid off for them in a very large way.

I was in my 20's when Google bought YouTube for 1.6 billion (which everyone said they overpaid for). I put 100% of my then portfolio into GOOG - which paid off hansomely.

Different strokes for different folks.

https://twitter.com/javierblas/status/1551858491136131079?s=21&t=8UXgYtWBZHkNerX4zkubKA

1) You'll find out when they publish their FID. People who reply you will give you their thoughts on what they think might happen - but those thoughts will be speculation - nothing more.

2) FID.

Other than the parties that Chariot are currently negotiating with and what shape the outline conclusions of those discussions are taking - there's no insider knowledge.

The company knows how much proven and probable gas reserves it has & so do we. It's a lot and it's gas that both Morocco & Europe are in desperate need of.

And it's clean, high-grade gas that needs very little processing to boot!

Peeps needs to chill. Anchois gas is going to get pumped because it is so desperately needed by the countries surrounding it. There is literally a cross-country pipeline into Morocco and Southern Europe sitting on the shoreline adjacent to Chariot's huge gas reserve. Extraction is a no-brainer in the current environment – it's going to happen.

So it's just a case of 'at what cost'. This is the bit we don't currently have sight of and what the BoD are currently working on (getting to FID).

With a circa $500 million infrastructure build – this asset is going to be profitable regardless. So the BoD's job now, is to get the best deal for Chariot shareholders.

As a successful entrepreneur and CEO, I would assume that Adonis would be the man to lead negotiations, particularly with regards the downstream players and David Brecknock will likely lead negotiations with upstream players (David has a very strong history of getting unbelievably cheap pricing for O&G services and supplies – he's the best in the business for this).

So with Adonis, as CEO as well as being our largest shareholder in the driving seat and David in charge of procurement – I'm confident that whatever deal or profit margin the company settle for – it'll be a good one.

by Russia.

https://edition.cnn.com/2022/06/15/energy/european-gas-prices/index.html

Schlumberger and Subsea 7 have formed a "one-team" integrated and collaborative approach in order to fast-track first gas at Anchois.

Be under no doubt; both Morocco and Europe desperately need this gas to come online as quickly as possible and they're willing to buy all of it - at rates very profitable to Chariot.

$200 million for a 75% stake in an $8 Billion gas field (probably a lot more), that's going to be coming online within 2.5 years looks like a fantastic buy to me.

I took avantage of the open open and I've since filled this years remaining ISA allocation to Chariot.

If you think we're going to end up with 5b shares you either can't do math or you have little to no faith in the path the company is taking.

Since AP has been in charge, placings have been done with purpose and at a much higher price than the one previous.

If we have another placing at 50p and another at 75p, who cares when it's getting us closer to pumping and selling the massive gas reserves that we own.

To get to 5b shares under the current trajectory, we probably end up with $2-3 billion in capital raised. Which would be way more than needed.

Counterview;
If we were to drill a 3rd well and discover another 600bcf of gas and the SP rises to 75p+ and we place another 100 million shares into the market for $95 million in additional funding, would you really be disappointed?

Open offer now live on Halifax under corporate action tab.

Halifax is now showing ones 1/47 share allocation for the open offer at 18p (No. of shares).
However, no action is currently available for the account holder to take.

The ability for account holders to apply for more additional open shares is also not an option as of yet.

Anyone with Halifax (or derivative thereof), feel free to post when you get notification. Will do likewise.

The fact that the SP is 20% above the placing price while an open offer is underway maybe a signal the market is giving. It’s quite a rare thing.

Halifax (Lloyds) always seems to be the slowest when it comes to things like placings, open offers etc.