Member Info for Fernan10

"Stifel thinks the operation, which has four projects generating 515MW of electricity, is worth $132 million, or 10p a share."

"The bank reckons the current roster of assets is worth $32 million (based on a discounted cash flow calculation) and pipeline $100 million."

Which exactly are the four projects currently generating 515 MW of electricity?

The only project that is currently operating is the 15 MW Essakane solar plant in Burkina Faso, where we have a 10% equity interest, valued at US$ 448.000 (note 12 to 2022 Annual Balance Sheet)

A very confusing (or misleading) note from the investment bank, in my oppinion.

Regards

I made AP an offer he couldn´t refuse.

Regards

This is the first step in the right direction.

Green hydrogen next, I hope, as soon as they can prove the economics of the project. Green hydrogen is still way more expensive than other forms of energy, so they need to solve that before spinning it out.

Regards

I think we need to question management about these issues in the next conference call/annual meeting of shareholders.

We can not wait anymore to have some answers.

Regards

The Bold:

"They have got the current business model completely wrong and the market has little to no idea of exactly what it is we are trying to achieve."

You have summed it up perfectly.

AP should have some difficulty trying to explain the business model to new investors.

What exactly is CHAR now? a green hydrogen developer? an electricity trader? a water producer?? Each one of these businesses has its own competitors, legal framework, technical difficulties to overcome, etc. how could you ensure a profitable operation in each one of these diverse businesses, all of a sudden?

I suspect that the reason for the new ventures not being spinned out is that AP found these business units very difficult to fund on their own. Then, he keeps leveraging the attractiviness and economics of Anchois to get the money to pursue these "new ventures".

Nice to see an educated and well thought post from you. Keep it that way...please

Regards

My question is:

what do you think the share price would be without the renewables and green hydrogen projects (i.e., having only the onshore and offshore gas business units)?

do you think the share price would be higher or lower than the current one?

do you think that the placings and share dilution to fund those projects during the last 2 years have had a positive or negative effect in the share price?

Regards

As I said before, I'm not sure that a well drilled offshore more than 100 kms away could substantially alter the conclusions from wells drilled nearby in the same area.

Time will tell if I'm wrong.

But don't worry about my thoughts. Enjoy your life.

Ok Jimmy.

Thanks for your comment and for taking the time to review the previous CPR on the area.

Regards

Goonerpete:

I think that, in order for us to realize the true value of Anchois, we need to spin out the renewable energy and green hydrogen businesses ASAP.

Having all 3 business units together is confusing to the market, and put us at a permanent risk of further dilution to fund new ventures.

Regarding the onshore gas, I have to admit, I don´t have much hope. I don´t believe that the CPR issued just 4 years ago for the area was that way wrong when informed a potential resource of just a few bcf. Time will tell.

Regards

In relation to Namibia, I remember that, 10 years ago, Jimmy was a big advocate of potential big finds there.

Time proved that he was ultimately right.

Regards

Goonerpete:

I´m invested here since January 2022. after the drilling of the Anchois 2 well. My entry point was at 10p.

Regards

New discoveries are getting closer to the licenses where we still have a right to get a 10% working interest back.

See the map.

https://finance.yahoo.com/news/pel-83-exploration-campaign-4-180000222.html

This latest well was drilled 8 km away from the original discovery, proving the lateral extension of the original find. Truly massive.

Regards

The Bold:

First, I asked about the geological Chance of Success .

Now, I asked about the size of the deeper interval.

Read again.

I was about to ask you for you to not bother to answer the educated questions that I make to Jimmy.

But that would be a complete waste of time.

Read again.

My questions in the past were about another prospect.

I´ve been invested in the oil & gas sector for the last 20 years.

I´ve known a lot of guys/ladies as you: young, arrogant, energetic, pretending to know a lot more that you really know, ready to attack any negative comment about your investiment.

I watched all of them going down the toilet, together with their investments in companies like Providence Resources, Caza Oil and Gas, Mart Resources, etc, etc.

So. the simple fact of having someone like you invested here makes me worry about the final result of this venture.

But I hope my gut feeling proves wrong.

Time will tell as always.

Thanks Jimmy. It would be interesting for you to review their numbers.

Regards

Jimmy:

ERC Equipoise Ltd (ERCE), the independent evaluator that issued a CPR for SDX for the Lalla Mimouna Nord area (now the Loukos concession) in 2018, assigned just 5.4 bcf of prospective resources to the deeper 300m gas bearing interval discovered by the LNB-1 well ( see page 129 of the report)

All prospects in the concession (including the deeper interval) were assigned 26.2 bcf of 2U prospective resources.

Have you checked the assumptions made by ERCE to get to that extremely low numbers?

It´s all in the report.

Regards

I would like AP to pay attention, just once.

Stop the nonsense, please!!!

"I would assume chariot is spending next to nothing right now outside of salary for the team , on Project Nour development. That’s my assumptions."

And your assumptions are based on what? Hope?

Regards

From today's press release:

"Next steps include completion of investment framework, engineering conceptual study and offtake negotiations"

"The other two wells will get drilled, but will have to wait for the Energean money to come through."

I agree with you, without Energean money it will be impossible to drill 2 additional wells (see my post on cash balance and financial runway on March 1st).

But that´s exactly my point.

Last year, they raised enough money to drill 4 onshore wells. In fact, they said that the drilling of those 4 wells was the principal reason for the share placing.

The money was diverted, and now they can only drill 2.

I think the pullback from shareholders and the loss of credibility are already happening, look at the share price.

Regards