Member Info for harrycarter

Lool…big announcement…closing down and returning money to shareholders …after redundancy payments to staff and directors…oops there’s nowt left for PIs.

On paper yes…in reality no. Everybody knows it. Zionists and ant-semites alike.

It’s worse than before. Back then, Witless was telling the world that tests aren’t required in gas fields. Well he would say that coz he didn’t have the money for a test. He’ll need a test or three now. And he still can’t afford one. So how’s he gonna spin it. Something like this…the gas is there and it ain’t going away. We discovered Anchois and it’s in the bank. We’re gonna focus on finding more in our acreage. With old fashioned low cost detective work by me and my expert geoscience team. A3 helped us know what to look for. You could be talking something many times bigger than Anchois. Transformative. Blah blah blah. In layman’s language that means no test …just years more desk work for Witless and his useless water diviners. On top dollar of course. And that’s your dollar. Don’t say you weren’t warned.

I was surprised that Morocco allowed a 15 million buck outfit to resume operatorship. Never underestimate the stupidity of governments. Particularly in Africa. But my main point was that there would be no cash bonanza for Chariot. Was I right? I think so. Look at the sp.

Simple. They are hiding bad news. Or rather, hoping for some good news so they can make the old good-lbad news play. As you know, my theory is that they changed the enog agreement without telling you and also that after further analysis the ‘discovery’ it Lookos ain’t worth a turd. They probably knew the latter a few weeks after announcing the ‘discovery’. Then there are the remuneration figures and redundancy payments to hide. No wonder they ain’t telling you diddly.

Yes it is guess. I'm guessing they put some debt in the company. Unpaid bills and the like. Who knows v I z they tell nada. Truth is it won't matter. It's back to square one for Witless and co. But with a failed appraisal programme and a walkaway to explain away to interested parties. If there are any. The very brief RNS must concern you...from a Company with a track record of puffing up non news. Cash raise very soon.

Chariot have their 75% again. And according to clowns on here, they are applying for a license in Namibia. What about the big payment from enog? As predicted, there ain’t one. And they’ve got nowt in the bank. How will they the pay bonuses for getting their equity back? Cash raise? So they can rinse and repeat. New partner? There was a queue of one (enog) last time.

That is exactly what rampers on ADVFN were saying about bantamboy as he called down Chariot from 20p to below his target price of below 5p. Why can’t bears have a view in here? Is this board for losers hoping for miracles, bulls and rampers only?

Enog holds all the cards and they ain’t gonna hand over another cent to Chariot chancers unless they absolutely have to.

Enog could simply let the license time out in Q4. Then what?

I’m pretty sure that the details of the farm out deal are very different from what you think they are. Big let’s see. The truth will out. Or maybe it wont.

If you are right, there will be money to put Malcy back on the payroll and a return to his his bullock list will follow.

Obvious to me that discussions with enog and ministry are ongoing else announcement would have been made. Obvious also it ain’t the slam dunk which some on here have suggested . You know my theory…the SPA was different to the heads of terms published or was renegotiated after the duster. Enog payment for testing off the table. In fact enog probably holding out for a chariot payment. If I’m right, heads should roll but they won’t. More likely AP and co will boast of a great deal and announce juicy bonuses all round. Nice work if you can get it.

Wrong again. Out of interest, Bantamboy and Finchy seem to have lost interest in Chariot entirely. Brazilnut posts very frequently.

You need looking into pal.

Correct. I got out in the nick of time thanks to stumbling across Bantamboy and Finchy on the other board. No I haven’t been filling my boots at current prices. Far more sensible to bet on form nags on the flat than ‘invest’ in the ‘skills’ of AP, Witless and the rest.

More likely that insiders are trying to dump shares and MMs don’t want them.

You ain’t got money to test an onshore well you’ve drilled and declared a success.

But you are going exploring in deep water in Namibia, doing a billion buck project in Morocco and ‘helping’ Total on a multi billion buck hydrogen project. All with backed with a 15 million buck market cap and half a million bucks in the bank.

No body is buying or selling this dog. Interest is over. SP movements are simply MM manipulation. PIs stay well away.

What is the scaled back development?

If you can’t afford to do a test of an onshore discovery, you can’t afford to be operating Anchois or exploring in Namibia or developing multi billion buck green hydrogen schemes.

Get real.

What exactly is a scaled back Anchois development?

From memory Anchois is a 3 well development located in 500m deep water in the Atlantic Ocean with a 10 inch pipe connecting the wells to a gas processing plant 45km. It was gonna flow 100 million cubic feet per day at best. that's about 16 thousand barrels per day of oil equivalent. The processed gas is exported in a land pipe to the nearest connection point the Moroccan gas grid some 45km from the plant. Does scaling back mean 2 wells and an 8" pipe? How much gas is it gonna flow? Can your the scaled back development carry all the necessary investment in a difficult deepwater project in a new frontier? Energean certainly did not think so. But a clown on a bulletin board glibly floats the idea.

Onto the next glib idea. A farmout of Loukos. Chariot did not think it was worth testing Loukos. In spite of raising funds on AIM to do a test. Who on this earth is going to farm in to that.

How different does it look now?

They are planning to open a new uk plant staffed entirely with trannies. Will help DEI score and will spark interest from UK pension funds. Fill yer boots.

I remember when Witless was doing the rounds telling folks it wasn’t necessary to test a gas well like A2. It is now. Truth is Anchois development is gonna cost a billion bucks. Chariot is an AIM oilie with a market cap of 15 million bucks and nowt in the bank. After the A3 debacle and enog legging it, banks and institutions will probably require TWO well tests before lending Chariot a bean. You heard me right…TWO. That’s a hundred million bucks right there before you can even sanction the project. That won’t worry Witless. You’re talking another five years of rinsing and repeating. On 600 grand a year. What’s not to like.