Member Info for Gardie

Agreed.

At today's share price that is probably less than a month's salary. Where's the commitment?

Ps. Chariot have just posted this on LinkedIn. Nice to know they are still alive....

https://www.bii.co.uk/en/news-insight/insight/articles/how-development-finance-can-increase-energy-access-in-africa-and-how-governments-can-accelerate-this/?fl=true

I agree ianfer.

I don't think we've seen anything like enough volume for institutional selling and I can't see AP selling under these circumstances (ie. Losing a boatload).

If anything it's been very disappointing not to see any director buying at these depressed levels but it's possible that they are not allowed to if they are in possession of privileged information. We can but hope.

Great summary Surfit.

They obviously recognise the importance of Loukos and how getting a steady income would give the company so many benefits and relieve them from fleecing shareholders every few months . I just find it incredible that they have not gone ahead with testing.

Does anyone have an idea on how much testing would cost? If it is say less than $3-$4m and yet they have still not done it I think it probably highlights the dire situation of the company finances. Unless they already know it's not worth the trouble?

Many thanks for the explanation Surfit. If there was a contingency plan in place then why have we not heard anything from the BoD? Something is not quite right...

Indeed Surfit, forlorn hope is what we have left.

I suspect that the CHAR BoD were as surprised as we were with the results from Anchois that ENOG came out with 4 months ago and have been scrambling to think of a way out of this mess, not that you would guess from their lack of communication. It is pretty disgraceful given that the shareholders have financed the company to the tune of £260m since inception and currently we have nothing to show for it.

As you say it is a pure gamble at this point.

I am very much in the same boat Surfit. Have managed to get my average down to sub 10p but that won't matter a fig if this BoD don't get their fingers out and actually produce what they have bleating about. If I was in their position I would be acutely embarrassed over the current position and would consider it a matter of pride working hard to get back something worthwhile to the shareholders

Would that be Giles Clarke perchance??

It is interesting (to me) that ENOG has been silent for some time on their intentions re Anchois and Morocco in general and I know that some people are expecting some sort of statement at their next set of results in March.

As far as I am concerned this means to me that negotiations (over gas price/volumes etc) are still ongoing and any announcement could still surprise on the upside albeit on a much reduced footprint.

Does anyone have any insight into whether ENOG have a Moroccan office or subsid set up that would give us any clues?

At less than 2p and at a market cap of £20m CHARs have the potential to multibag from here in my view but I appreciate it's a toss of the dice.

Thanks Jimmy.

But I am pretty sure that they have used the same 'low risk, high reward' language when describing the potential at Anchois in their presentations

I thought it might be prudent to check that the potential Loukos farm-in offer was still there and sure enough it is still being advertised:

https://aecweek.com/major-oil-gas-farm-in-prospects-unveiled-at-african-farmout-forum/

'Chariot Transitional Energy presented the Loukos Onshore license area in Northern Morocco, representing a near-term, low-risk and high reward appraisal opportunity. Operator Chariot has identified multiple drill-ready opportunities, which offer long-leads in existing inventory and rig availability in-country, along with competitive fiscal terms and license flexibility. These include the RJB-2 Re-Drill, OBA-1 Discovery Appraisal and Material Exploration opportunities.'

However, the words I take exception to are 'low risk, high reward' which were being bandied about ad infinitum with respect to Anchois. If this farm-in deal is such a wonderful investment opportunity then why has no one showed interest so far (to our knowledge) ??

*buys

Those last 2 trades (55k, 101k) are both busy as I did them

Thanks Surfit.

In principle I am not anti these projects either but they are not feasible when CHAR has zero income. It is a stark contrast to ENOG where the market cap is 100x CHAR and they have built (and continue to build) a very viable business. I just can't believe it's taken the CHAR BoD 17 years to get nowhere. Such a massive disappointment 😞

Agreed Surfit.

The longer the silence goes on the more incompetent our BoD look. Some sort of update is necessary to salvage their credibility. The '3 pillars ' narrative looks dead and buried. Are they dreaming up a new $1bn profit scheme but have yet to inform their increasingly frustrated lth's? We need answers!

85p

It may or may not be of interest but I listened to Doomberg recently on the David Lin podcast and he is firmly of the view that Trump will be looking to put a lot of downward pressure on oil prices in order to force Putin to come to the negotiation table on Ukraine. Apparently $42 per barrel is Putin's breakeven level and Doomberg expects Trump to increase production and get oil prices close to this level. I doubt any of these geopolitical tactics are likely to have any material effect on RKH but it's worth having knowledge of this in advance.

For further info on this and other Trump policies that are likely to be implemented post inauguration Doomberg recommends checking out the Agenda 47 for further insights.

Happy New Year to all in the meantime.

Certainly not the 'most exciting year in Chariot's history' that our CFO alluded to. Extremely disappointing results and share price performance after all the hype and enthusiasm generated from endless previous presentations

Just going back to the Etana announcement, I came across a CHAR Linkedin post today where the BoD posted news of Stifel having a PT of 6p following the Etana news. Not sure if I would be quite so proud of a 6p target price but it was interesting to see. 14 'likes' of which a bunch were from CHAR

And the share price (of SOU) is +54% on the news. CHAR BoD time to pull your finger out