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I very rarely post as (before anyone says) I have nothing constructive to add. My knowledge both of the Oil and Gas sector and of the way that the AIM market works approaches zero. Learning though. I follow all the serious and knowledgeable posts and appreciate why the majority of contributors are frustrated with the SP, especially those that are long-term holders. I bought into Chariot on a tip a couple of years ago when the Anchois gas was discovered and the SP was motoring then. Clearly there has been at least one significant seller since the joint venture was announced in December and various theories have been postulated as to the reason - one of these will be correct but no-one knows which one. I have always assumed the big buyers will only appear when it looks as certain as it can be that gas is about to come out the ground. I don't see that the rig appearing on site imminently or whenever would make that much of a difference. What I'm trying to say in a roundabout way is that patience is still required (not least by me!). Not easy.
I’m a rare poster and must preface the following with stating that I am a very inexperienced investor, especially in AIM and know next to nothing about the workings of the oil and gas exploration market, although I’ve learned a lot from the knowledgable posters in this board. So, with that in mind, a couple of observations. Many posts over the last couple of years have been critical of the BoD for missing deadlines. I don’t see their performance as bad at all. Very few, major engineering projects fail to have delays. Anyone Scottish? Ferguson Marine ferries for Arran? Edinburgh trams? Overruns happen and are to be expected. And then this business of late where a positive RNS seems to trigger a decline in the SP. There must be a LOGICAL reason. The only explanation I can see is that more canny investors than me are gambling (and we’re all gamblers to a greater or lesser degree) that they recognise medium to long term value but sell out a significant fraction of their large holding along with similar minded others in the expectation of a drop and ability to come back at a few percent lower. Risk that may well reap rewards. These are not the iis. I would think the big boys from pension funds and the like will only be interested when it’s almost certain that the gas will come out of the ground be that inshore or offshore. Me, I’m gambling that it will and, if that takes a couple of years, so be it. (Sadly, it will probably still beat the arrival of the ferries). Foregoing may well be nonsense but I’d be interested to see alternative explanations.
I understand how you feel but I have to keep reminding myself that this is investing with all its inherent risk, not some sort of dreadful savings account. You're only losing thousands if you sell.
I am a relatively new investor in Chariot (due to a tip from a more experienced friend) and have a fair amount at stake. I've always appreciated that with almost all stock market investing there is an element of risk, particularly in the AIM market for all the obvious reasons. I have no knowledge whatsoever of the hydrocarbon industry (apart from an entry level pass in Geology at Uni) and little understanding of how the stock market works. I am gradually learning, not least through reading this BB and the presentations by Chariot. I gave myself a headache reading the huge outpouring of opinion and angst after last week's RNS. Whilst sharing the general surprise at the reaction of the share price, I have always felt that nothing will happen of significance until the gas is almost certain to start flowing with risk approaching zero. A lot of the negative comments have been based purely on emotion and I understand that, particularly if from LTHs. But it seems to me that patience is now needed in spades. It's really not so long ago that the gas was discovered and confirmed. I certainly wouldn't have expected production and revenue to start as rapidly as some seem to have hoped or expected. I find myself surprisingly relaxed and hopeful. And patient.