Member Info for BouncyDeadCat

Profession is a paid occupation, especially one that involves prolonged training.
To be a good TA trader (right 55% of the time) takes years of prolonged training, even when you teach yourself.
I think you can get formal qualifications in it too.

That's what healthy pullbacks are for. Topping up ;)

I've seen Nordell comment on here about how he/she thinks Chariot is a great investment over the medium term. They haven't deramped the company or tried to spread fear, uncertainty and doubt about the stock, they've just posted their trades. Nothing wrong with that. He/she hasn't got every call right and that's fine too.

Football Manager - yeah - maybe - Sean Dyche :)
Name a 'good' politician who's been wrong 45% of the time. I'm hard-pressed to name any 'good' polititian to be fair.

Good traders make money by being right slightly more times than they are wrong.
Providing the trader manages position size and is able to makes money 55% of the time and loses money 45% of the time - then they're a good trader and they make money.
What other profession allows you to be wrong 45% of the time and still be good at what you do?

Traders are going to trade, they are part of the market, chillax, nothing goes up in a perfectly straight line.

Just read it. Good write up Bigguboi. Probably, the only thing missing info in your piece was Chariots wildcat drill for oil in Morocco with ENI - which lead them to believe the region was more likely to be incredibly gas-rich, rather than oil-rich. That then led them to purchase Repsol's old licence and concentrate on finding lots more gas - that they went after with great intensity.

Unfortunately, there is no RNS that neatly summorizes the scope and scale of the Anchois discovery, so people have to do quite a bit of research in order to discover the full picture like you and many of us here have already done.

However, once the CPR is out, people will be able to see the headline resource figures in one RNS (1Tcf?) of which the numbers will be way more visable for investors to run from that one RNS.

Is still waaay undervalued.
It's just Maths.

More investors are starting to do the research on CHAR and a rising SP will just encourage more investors to do the research and to find out what's driving its SP upwards.
Once they've run the numbers they will come to the same conclusion we have.
It's undervalued. Still. & by a massive margin.

For, on doing the research, they will soon figure out that they can buy an $8 Billion gas deposit with pipeline infrastructure (just 40km away) that pumps gas directly into Europe ~ for £183 million (current market cap @ 22p).

Will there be a pullback? Maybe. Probably. Maybe not. I don't know. If there is, it'll be short lived and Chariot will continue its way to a more sensible valuation based on the asset the company owns and the demand for it.

Chariot also has an exciting renewable power generation business too - all that - investors are getting for free.

The reason it's a quid is because the company aren't making any money and they have quite a lot of debt.
If/when this changes - so will the SP.

Jimmy,

If you recall, my intial assessment of the preliminary drill results was this would turn out to be a 1Tcf discovery.

Reason being: Gas Sands C, M & O successfully encountered multiple gas-bearing intervals across a gross interval of 250m measured distance with no water-bearing reservoirs identified, materially exceeding pre-drill expectations. I believed then (as I do now) that the extra gas (50m) to take this discovery up to 1Tcf would come from the accumulation of these gas-bearing intervals.

If they sold the asset with an independent report stipulating 1Tcf in proven reserves then I'd like to think they could get $1 billion for it. Which is a 6 bagger from here. Appoximately 94p per share. Just for Anchois.

Sniper, it's over $8 billion worth of gas.
1Tcf = 1,000,000,000 Mcf
If 1mcf = $8 then it's $8 billion
If they manage to get $11 per Mcf for their gas then it's $11 billion total value.

75% net to Chariot = $6 billion - $8.25 billion in gas value reserves.

You have Anchois which is located within the Lixus Licence which is located inside the enormous Rissana Licence.
I anticipate 1Tcf from Anchois alone.

With a manifold design, they can keep adding new wells as & when they find more gas.

We're going to need a bigger pipe though.

1Tcf for Anchois.

As of yet. I don't think enough people have done the research on Chariot - it's massive gas discovery - Morocco - & it's pipeline directly into Europe.

That's why you can currently buy it for under 14p.

The number of people that do their research and put all the pieces together will grow over time. As will the SP.

Is quite simple: There was over-speculation on Namibia as the new frontier for mega-oil fields.
Industry Geologists believed the source rock responsible for the large gas deposits found in the Orange Basin (South Africa) was also deemed to be oil bearing in Namibia - if they could only find the right kind of trap & reservoir combo.
Out of all the exploration companies, Chariot owned the most amount of acerage offshore Namibia in 3 separate basins and oil was over $100 per barrel at the time. Oil insiders were positive on Namibia being the next frontier for big oil and it got over-hyped.Ultimately, the volcanic geology made the oil hard to find. Oil is probably there and in huge quantities, but it's likely going to take a couple of dacades on from 2010 to find it.

The fundamental difference between Chariot then and Chariot now:-

Then = Lots of hype. No discoveries.
Now = Huge gas discovery. Literally ZERO HYPE.

for an $8 billion gas discovery ;) ;) ;) ;)

Doh!!

TA can be a loose indication of which direction a short-term price move is likely to head. But it takes years & years to be any good at reading charts to be effective at trading using them. A successful trader is right 55% of the time - meaning they are wrong 45% of the time. But you only need to be more right than wrong to make money.
Because TA price moves are short-term, TA traders often use leverage to take advantage of the small changes in direction of price.
The lines drawn on a chart are nothing more than confirmation areas where a trader thinks a decision on price is likely to happen. i.e. If the price bounces off this line - bullish support, if the price hits this line and then falls - bearish resistance - or vice versa. TA doesn't tell you where price is going, it just indicates where short-term buy/sell decisions are likely to occur and at what price area. I used to dabble with TA myself, but I didn't have the time to really study it effectively. It takes years to be proficient. Nordell's recent call using TA seems to have been the right one, so good for him.

Do I think Char are in talks with finance institutions to finance the Anchois discovery?
Yes, very much so. We've been told they are. That's what letters of intent are all about; formal recognition that discussions and negociations have/are taking place.
First horse. Then cart.

A contract being inked means it gets signed by both parties. It has nothing to do with ink being dry (waiting).
I would have thought – even to the real slow ones on here - the fact that Char hasn't released the signing of a finance contract means it's pretty clear – They haven't got a finance contract yet.

If/when they do, an RNS will quickly follow suit as it would be of significant material news to all shareholders.
And which institution in their right mind would finance a giant gas project that hadn't even been audited by an accredited independent 3rd party!?! You thin they're going to sign a finance agreement for a $300-$500 million development on the back of a company RNS? Come on, get real.

Stages people.

Find lots of gas – check.
Audit huge find of gas – Not yet (in progress)
Finance extraction of much gas – Not yet.

What you're currently paying for if you've bought Char shares is 'Found lots of gas'.
Is the quantity of gas found undervalued in the SP? $hit yes!
Do you think the BoD are either: competent enough to extract the gas themselves or sell the asset (entirely or part thereof) to a company who can/will extract it? Allocate your position appropriately.