Member Info for HenrySinclair

Jimmy
Re webcast outlined development (little detail)… my ongoing concern but then In light of results. Audit. Macro situ and Express article. Is it more weighted to a larger campaign with the govt in full step. Any thoughts how you weigh the possibility of the webcam plans being canned in favour of a much bigger development ?
Morocco govt want to fill that pipe with their own gas.
Best wishes

Thanks for comments.
The SP could go multi today’s price if it gets mkt traction. What could chars mkt cap be ? Would they still be AIM listed at such point. It’s far more complex. The costs and complexity of realising value against the increased reserves are many years beyond 2025 and that’s my concern for implying a linear increase in valuations.

It wring to only look at one side, to extrapolate NPV and assume a SP based on increase in reserved. It’s another thing realising that value. The funding alone will require risk assurances. Char are not a producer and unlikely ti have enough tea cups for staff numbers to administer such. As stated in their webinar, they will be reliant on 3rd parties, multiple clearances and complexity of selling volume over the existing MOU.
FMU they have designed and costed to produce and sell from the original model of A1. There is no model for the increased reserves. No other customer agreement and no route to the European pipeline.

Seems to me that the timing and commentary was about putting the brakes on a drifting SP.
CEO states “ambition”
CFO states “potential”
I don’t believe they have a definitive plan.. but do have lots of gas..

I have concerns re Chars communications, sometimes lack of. I struggle with their wordings eg:
“Considered” reputable financial…
“Ambition”
“Getting nearer to”
Above taken from the last 2 drill results RNS.
Their webcast did little to support tangible development.
There’s a distinct lack of detail in what are clearly serious key requirements. I don’t expect them to have definite completion dates but there’s no evidence of any real commitment. Especially concerning is their “language”.
Said as a long term share holder..

They will raise cash. There will likely be a lot more shares issued. A private placing to institutions and we will only get to know about it after it’s done and dusted. They’ve done it before, more than once. Look out for any drive upwards. We will be blinded by the improvement in SP but many will miss the dilution. Still holding for 50p but no delusion of a divi

Jimmy
Duncan stated that focus is to get to production ASAP. Appreciate your generosity in providing valuations and accept on your appraisal that the SP is incredibly cheap but I’m concerned about the credibility to achieve what they say they will with me as a share holder. Without confirmation of finance I fear realising a multiple against current SP in the reserve valuations. Find it odd that char have $300m figure to finance the development yet there are no details offered in any matters I already noted.

$300m needs to have full design including Contingencies, sales agreements and approvals both private and public. Why don’t char provide more detail of the pipe line and production facility. 1st gas 24/25 ? Imo the SP is reflecting the vagueness, regardless of any increase in reserves.

RNS confirming finance approved S300mm will do for me. Regardless of the interest returned, that’s a big number to have signed off and Char will need to satisfy many conditions. Char stated in webcast that the pipe line/processing would be via 3rd party. If I was lending $300m then I would want to be sure my investment was guaranteed to be returned.

Anch 2 will b RNS on completion / poss big bonus for future financing of FID / partnerships.
Anch 1 will b RNS on completion / poss big bonus as above. Route to financing other projects. Regardless, this result will underpin the MOU offtake / FID.
This is not a wild cat.
As AP stated “ the world has moved on”

Having been invested since long before the delayed planning application. Revised build proposal/costs. Actual approval (the real catalyst). St1 and this latest ST2 agreement (subject to terms). I'm still reading so many negative posts. Anyone might think those critical of this latest agreement may have their own agenda.

Not sure why such focus on accountants/auditors declaration. The same wording was used in previous reports including prospectus prior to St1 (share placing). It's standard.

I disagree with the focus on LB and farm in. I consider the likely chance that any deal would be a decision for the whole BoD and its key share holders. LB is a Geo guy and has captained the ship accordingly. Why would Adonis dilute away his upside potential based on CoS and the progression of the Chars PF. Imo focus should be on Adonis rather than LB.

Good morning Pm I followed your posts and aware your thoughts on this over the years. I recall at one stage pre Nimrod the company making similar statements.. but different times when they only had Nam and all the buzz at that time. Given the earlier results and mkt conditions then Char needed to expand its Pf. Imo they might as well have invested funds in Facebook etc than involve themselves with a production company. They have no expertise in operations. They bring nothing to the table and given mkt conditions then what would the ROI be. That's my opinion Pm. Not trying to be clever. It's an opinion as I fully respect yours.

Good mi

Chariot is not an oil producing enterprise. I don't need your advice however much you might think (or not). I understood what I was investing in. Did you.

Try again.. Chariot has never been an oil producer or has the capacity to be. Their investment proposition has always been early exploration and never to develop in the success case. Chariot was founded on the back of Namibia long before LB. if chariot succeeds or fails in this next drill, it will be in most part because LB has to navigate the best way within Namibia. Until he came along. Chariot only had Nam. It's been through his experience as a Geo (validated by Eni/Morocco) plus the rest of the BoD that they have raised funds to broaden the PF. If this next drill had a 50% CoS it wouldn't be Chariot drilling.

Chari

Chario

Pre not post