Member Info for harrycarter

Sorry pal...I am speculating. But I'm sure I'm in the ball park. Coz it explains a lot. On the face of it ENOG and Chariot had a deal. If as you say ENOG has not fulfilled its side of the deal, why isn't Chariot saying this. I can only think of a few reasons...the deal contained small print to address the duster outcome. Or the deal has been revised. Nothing else makes sense. But like I said, ask the company you own a chunk of. Don't blame the messenger.

Your guess

Here's my guess.

Chariot sold 45% of its equity in the license to ENOG in exchange for 15 million bucks and a carry on a drill and test. The carry was to be repaid from future revenue.

At some point during the drill, it became obvious it was a duster (water in the big target and very thin sands above). At this point, ENOG told Chariot there is no point in testing a duster. Chariot replied that youve gotta test it under our agreement. ENOG realised they were dealing with despeeate chancers and and so they tabled a revision to the agreement which proposed that the test obligation be removed. Chariot said no way. ENOG said if you force this on us you will regret it coz we will might just cash call you to death. They must have had some leverage. So Chariot signed on the dotted line. As I have stated before this was the rumour on the rig. Wasn't there a long delay before the rig demobbed. Idiots on here were speculating that they were prepping for another drill. Maybe the delay was they were sorting a legal dispute. Now where does this leave us? Is your guess right or is my guess right? There's only one way to find out. Ask Chariot or ENOG.

You know it makes sense.

Bottom line here is that you haven't got a clue what has gone on between ENOG and Chariot. You're guessing. And you should not have to guess. Your company should be telling you where you stand.

Nonsense as usual. What if the parties to the deal agreed subsequent changes but didn't inform its shareholders? What if the small print addresses testing in the event of a dry hole? There are too many possibilities to discuss here. Perhaps Chariot should tell its owners what is going on. Don't blame the messenger.

More misleading rubbish. I said they will not walk away. They will try to get some of their money back. Most likely via a sale or farm down. Your misleading claim that Chariot owns the Lixus license should be reported. Thanks for your answer on the test…you are now claiming that Enog owes money to chariot for a test. How much money?

Rubbish. Licenses are “owned” by joint ventures for a term. The current “owners” of the Lixus license are enog 45% chariot 30% onhym 25%. Any of the owners can farm down or sell their equity at any time. And then preemption provisions apply. Do you know what they are. Of course Enog can farm down or sell its share if it wants to. You have not addressed my other questions regarding the test obligations. Let’s hear your answer please.

I’m only repeating what I have heard. It makes sense though doesn’t it. Enog owns 45% of Lixus. It’s been said on here often enough that they want out / are walking away. They are bound to try and extract some value from the 60 million they’ve spent. That can only mean a sale of their 45%. As for the other rumour…the deal included a test but there hasn’t been a test. Is Enog going back to do the test or not? If not are they going to pay Chariot for a test. If not why not. This is speculation of course. But friend Jimmy can pick up the phone to his mates at Chariot and find out. And then he can explain the situation from the horses mouth to the owners of the company (the shareholders).

Jimmy is going to check with his mates at Chariot. I think they will confirm my information. It explains a lot though doesn’t it.

I feel duty bound to counter the misleading posts which suggest that developments of Anchois, other prospects within the Lixus block and Loukos are just around the corner. They are not. If they ever do see the light of day, it is unlikely that AP and co will be involved. That is all.

They’re not in charge of Lixus ops. And they have no money. Enog is now marketing its share in Lixus. They will carry on doing that until the licensec expires. Chariot can do nothing about that. So forget about Lixus now. I’m afraid that Louis is a dog too. An SDX cast-off. One duster. One claimed discovery which they have failed to test. Odds on that the latter is a duster too. The hydrogen nonsense is Worthing nothing. That leaves a solar panel rental business in the third world. Good luck with that.

What a pillar it is. Renting out solar panels in poor country so the can pay themselves off the scale pay n perks forever. Not sustainable. 😂

You missed a word out. I am a white knight battling the dark forces associated with AIM oilies. 🤣🤣🤣

No I am not. I do like his content on ADVFN though. He appears to have stopped posting of late after his predictions came true. Brazilnut (angry PI) and Hsfinch (troll) are good value too.

Loukos was always ever a job creation scheme for Duncan Wallace and his team. As Anchois farm down approached its endpoint, Duncan realised he would need another day job. What better than some cheap onshore acreage in Morocco complete with seismic data and dusters. The sdx cast-off was then spun up to into a yarn about on trend with Anchois and rapid commercialisation. Duncan and the Pierre Raillard raised cash from PIs to turn the dream into a nightmare. A new office in Rabat was followed by a growth in headcount and strange announcements claiming that Vitol had signed up for gas that wasn’t there. Millions of dollars later, they announced a water find in well 1. And then a so-called discovery in well 2 that hasn’t been tested to this day. I wonder why. And now they’re looking to farm it down. Do me a favour. No oilie on the planet will farm into a Duncan Wallace discovery without a solid well test or tests. Get real fellas.

Enog has left the building (in Rabat) but is determined that cha will not benefit. They are gonna seek offers for their equity. That could take a while. Meanwhile any PSC commitments will not be fulfilled. Cha won’t say a word. Even as Lixus license renewal gets closer.

It’s gonna get messy imo.

Two decent posts by Fernan10. But I stress that Anchois was never commercial and certaintly isn’t now. A deep water gas project with a giip of 400bcf is crazy. And that was before enog discovered water all over the place. Sorry but Chariot is a dead share walking. It exists for senior management and staff and day traders. But not investors.

Nope. They were obligated to do test. And a seismic survey on the other block. And nope again. chariot sold its share to enog. If enog pulls out that share reverts to the state. They do not get their 45% back and keep the 10 mill. Stop misleading investors.

Nonsense. Chariot will not say a word until enog formally pulls out. But Chariot is working behind the scenes to convince onhym to gift them enog’s stake. Onhym is not convinced. Onhym wants an oilie who has cash, expertise and reputation to repair the damage that Chariot has done. The license runs out next year. Expect onhym to time Chariot out whilst it seeks that oilie. You know it makes sense.

Stop it with the dreaming. The license expires next year. Them Moroccans ain’t completely stupid. They won’t let Chariot anywhere near it. If Sound gets its project producing, Moroccans might even give em a go on Anchois. The couldn’t do any worse than AP, JMW, Wallace and the rest.

Chariot will be left with nowt coz the license expires next year. Them Moroccans will re advertise it. And they won’t want a broke aim oilie led by chancers anywhere near it.