Member Info for harrycarter

For the pre-fid costs but not the development costs.

I think there is a good chance that Chariot will get cash-called out. Thinking about outcomes…duster 0% disappointing 40% as per Chariot 40% better than Chariot 20%. Lets focus on as per Chariot. Enog proceeds to 100mmscfd development. Why would they take the extra 10%? Chariot has to raise $300milliion to fund its 30% share of the build. Enog offers to carry onhym in exchange for a decent gas price. Enog sanctions the project and tells Chariot that it will be cash-calling at a rate of 10milliion per month. Where does that leave Chariot? JOA provisions in these circumstances are usually brutal. Chariot should be planning for this outcome. But it won’t be easy. It will be very difficult. And I don’t believe that Chariot has the right people to handle it. Let’s see. Very interesting Q4 coming up.

Jimmy,

Cha must be in trouble.

They can’t afford to test a completed onshore well?? More like they don’t actually want to test it because most likely the test will disappoint.

Same is true of Anchois.

But even if Anchois result is ok, there is a chance that enog might want to do more drilling before they fund a billion dollar gas project. Cha could be cash called out.

Then there is gas price. Nothing agreed in spite of working on it for 5 years.

I do not understand how cha can be worth any more than 15p (£150million market cap). Tops. In fact I found hsfinch valuation on ADVFN to be quite convincing.

I am going to put all this in a spreadsheet. What gas price has been agreed with the buyer? Who is the buyer?

You will have to wait for that. I'm at work now. Bye

What? I said I'm holding in anticipation of getting out at 12p.

And like I said the other day, I found hsfinch valuation post on ADVFN quite compelling. It was all about no positive cash flow here for many years. With result that it will be squeezed by ENOG and forced into more damaging cash raises on AIM.

Sure.

I got in at around 8p in late 2021 when Russia Ukraine tension was being cranked up and the appraisal well was in site.

I realised fairly soon that Chariot is a dog that got lucky. Without the Algeria dispute and the Russia Ukraine mess, the sp would be back at 3p.

What is my valuation of the company?

The sp could hit 15p if the ENOG well result is really good. But will then fall back as its squeezed by ENOG.

If it's bad, the sp will fall below 5p.

Chariot is a tiny part of my portfolio and a punt on the well result. I will be a seller if the sp hits 12p.

How on earth can these targets be right? No company will value Chariot at such numbers. And certainly not ENOG. The only real value in Chariot is Anchois. Big players will not be interested in a 30% stake. There was only one party in the farm down and that was ENOG who exploited their position. ENOG has probably gamed out already how they can get the rest of Anchois for very little. Touting market caps of 300 500 or even 1000 million pounds is mad. IMHO of course.

How on earth can these targets be right? No company will value Chariot at such numbers. And certainly not ENOG. The only real value in Chariot is Anchois. Big players will not be interested in a 30% stake. There was only one party in the farm down and that was ENOG who exploited their position. ENOG has probably gamed out already how they can get the rest of Anchois for very little. Touting market caps of 300 500 or even 1000 million pounds is mad. IMHO of course.

I just did. Anchois 2. Without a flow test!

I beg to differ. Duncan Wallace was more downbeat and cagey than usual. Think back to Anchois 2. He really enthused about that without a test. My gut tells me that OBA-1 will disappoint. The only thing to move the dial this year is Anchois 3.

It seems to me that the various trolls on ADVFN are calling it right here. Mega troll hsfinch feels the same as I do about Duncan Wallace's interview. Not really crowing about the so-called discovery. And very careful with his works. So nothing to get excited about. I can't see how this share will go anywhere for months pending result from Anchois well test.

No not this post. A later one with estimate of when Chariot will pay back borrowings if Anchois moves forward.

I've got a few shares in this dog. Bought around 8p. I knew I should have sold when they went over 20p. Now they're right back where I bought thema few years back. I'm reading all the bullish stuff on here and wondering when they will start moving back towards to 20p.

Then I read a post by hsfinch on ADVFN which made a plausible bear case by suggesting that it will take something like 10 years for Chariot to see any money out of Anchois.

Any thoughts on that from serious invetors here?

Priorities are always jobs for the boys, high pay and interesting work. They’re not bothered if that work comes to nothing. Obviously, they’d like to see success but it ain’t a priority. Seen it over and over.

Partner deal will be announced by mid-September IMO. And it will guarantee stonking bonuses for AP, JMW and DW. In the meantime, its all aboard the onshore license. Expect a flurry of dusters from that in Q1 next year.