Member Info for Chrisn3

Hi smyth111, many thanks for your reply to my post. Sounds like very good advice and I believe that everything that you say is true and relevant. Makes a change to read something that is from someone who sounds genuine to me. I have been invested here for quite a while now. I did invest many years ago when they were drilling in Namibia and we know how that ended. I sold then for a large loss. I reinvested for what sounded good to me for the renewables project and then invested more when I read about the possible Angola deal. But I am concerned that the Angola deal .might not go through even though the money required has been found.

Surety- the risked bit is what unsettles me. What is the risk percentage for the Angola contract to be signed or not? I guess that no one on here knows. But if it has a high percentage chance of succeeding then why is the Shere price not showing it?

I am invested here and no one wants the share price to greatly increase more than me. What I don't understand is if the Angola deal is rated as transformative and just needs the deal signing off (which people are saying that it almost certainly will be) then why isn't the current share price reflecting it? I assume that it must be that the signing off of the contract must be a long way from being almost certain and in fact that there is a good chance that it might not be signed off otherwise the current share price would be much higher than it is. The share price rose to 20p on only the possibility of Moroccan oil and gas.

ICB888. But they haven't secured a significant inward cash flow yet though. Needs regulatory approval. If they had secured it 100% then the share price would be much higher I would have thought.

Cheers for that Whimax. Must admit that I didn't see that in a rns.

Please someone help me here. The Angola contract states 4,000 bopd is capped at this figure. It doesn't say actually how much is expected at the current rates pd being extracted. It could be 500 bopd or any figure up to 4,000 bopd. Just not over 4,000 bopd which to me is meaningless. I want to know how much pd we can expect not simply given a figure that we can't have more of. Plus why is there a cap at all?

You would hope that brokers take everything into consideration when coming up with their share price predictions, including all of the things that you list out. Yeah will be interesting to see who the other significant shareholders are. What's annoying me right now is that I took up my full amount of shares in the offer for 1.4p and I can currently buy for 1.3p. I know warrants are a bonus but it's not making me feel much better right now. I am annoyed with myself that is.

Ask the brokers how they come up with their share price valuation.

Kissncudles, is there not a cost to get back into Namibia?

So it looks like the 1st income from the Angola deal will not be until the end of 2026. So around 9 months (if not later). Have we enough working capital to last that long (I doubt it). Which means income from renewables before that is probably essential. Either selling part or all of it or getting some regular income from it. I can't see the latter happening. It's all a bit dicey I am thinking. Please if I am concerned about nothing please put me at ease.

So they are saying that without money from the sale of the renewables, what they have raised through this immense dilution will not be enough to get the Angola transaction done. That is not good.

NoOneKnows- yeah I see that. I googled what the current mcap for Chariot was this morning at it came up as 25.7 million but I can see now on another site that it's stating 40million. Checking further I can see now that the 40million is correct which would work out as approx 2.5 x to reach the 2.4p warrants target. That's going to take a huge turnaround to achieve but fingers crossed. I need 5p for break even though. I have subscribed for my full entitlement of open offer shares at 1.4p. I see all of the detailed calculations here from others but personally I am taking them all with a pinch of salt, sitting back and waiting to see what the actual outcome of all this is.

Please let me know if my maths are out. I have worked out that for the share price to hit the warrant excersise price of 2.4p the market cap needs to approx 100 million- 4 times what it is today!! I just can't figure out whether that is likely to happen or not and if it's possible when it would likely to be achieved.

Help on this please. I understand that the transaction to obtain the access to Income from Angola will not finalise until late 2026 and so what are estimates as to when we are likely to see 1st income from it?

Goonerpete. I know and agree with what you are saying. That is why I am asking him to explain the reasoning behind his last comment. If he can.

Oiltdr- why do you think that?

Kissncuddles. It was ongoing running costs/salaries that I was thinking about. They continue but with no income to cover them. I can't recall for sure but a little while back someone posted that they thought that cash held would soon run out.

So no income from Etana for 2 to 3 years then. So without income from elsewhere pretty soon we will be running out of money. Some have said that the share price is now such that further dilution would be very difficult if not impossible. A farm in is hopeful but far from likely I would have thought. This is leading me to fear that they may delist which has happened to me with other companies that I have been unfortunately invested in. I fully admit that I am a novice in this game and would like to know others thoughts.

Kissncudles, oh right I see. That's good. Thanks.

Please anyone tell if I am wrong but - any income from Etana projects would go 100% to Etana. Then obviously profit would be income after costs. No money would go to Chariot. The only way that Chariot could get any income would be to sell all or part of the 34% of the company that they own. I presume by selling shares that they own in Etana.