Member Info for ianfer

Looks like delegation to me, rightly or wrongly?

Fernon - you asked "Why has management decided to indefinitely put off the testing of the Loukos well" and Wiggly explained that management were going for a farmout which seems to answer your question. I would presume the farmee would do the testing in that case which saves Char the expense.

Hi GPete

I won't be getting excited but my thoughts now are:-

SP has been purposely kitchensinked so Friday's rns can report this raise to the advantage of AP and his mates.

This 30% ish dilution which was contrived privately over last few weeks with mates gives them and AP a nice %age of the company between themselves. They may have about 50% in total. AP is adding I think £700,000 s worth himself.

So I now expect a bid for the company very soon.

How much? Could initially go 4p a share and hopefully end up at least double that?

Let's see

Hi GPete

I won't be getting excited but my thoughts now are:-

SP has been purposely kitchensinked so Friday's rns can report this raise to the advantage of AP and his mates.

This 30% ish dilution which was contrived privately over last few weeks with mates gives them and AP a nice %age of the company between themselves. They may have about 50% in total. AP is adding I think £700,000 s worth himself.

So I now expect a bid for the company very soon.

How much? Could initially go 4p a share and hopefully end up at least double that?

Let's see

I think they knew the result of the raise before they announced the raise. Otherwise it was rather risky. No more for me thanks though

I can't believe that ENOG blushes had anything to do with Chariot's rns unless ENOG asked/persuaded them. Also the non-disclosure of receiving any funds I don't think we should worry about. I reckon more detail is to come, soon. None of the clips of information we have seen in last 2 days give any concern about cash and they still sound positive. sp is stable with investors who are still here, sitting on the fence till we hear something worth knowing.

No, it is often nonsense ! But a lower spread now which is encouraging.

BDC what do you consider to be an amount of cash that should have been disclosed in the rns? £10m £1m £100m £5 or overdrawn £anything ??

Possibly some work to do first before disclosing anything. I think such details could be notified soonish however.

Net buys £77,000 today so far. It says "down 11.66%" Spread now down to 11% so maybe trades will be hotting up.

F10 - Although I am pretty fed up of Char BOD, I'm hoping that they have firstly done due diligence before the "deal" of taking back Anchois and secondly, refrained from jumping the gun with amazingly great financial news (re what cash is in the subsidiary) without first weighing up the moment and planning a further rns with more detail as to next plans.

The Bold - There is often more than one way to utilise cash in a subsidiary. If it cannot be legally "given" to the holding company, Chariot, the payroll could be somewhat transferred across to the subsidiary with fair reason being that Anchois requires Directors' time.

I think we could be at the start of seeing the sp move upwards.

Fernan10 you need to read the rns properly

"Chariot Limited (AIM: CHAR), the Africa focused transitional energy group today announces that Energean plc ("Energean") has returned its Moroccan offshore interests to Chariot by completing the transfer of their wholly owned subsidiary which holds 45% and 37.5% respectively in the Lixus Offshore and Rissana Offshore licences. Chariot is now Operator and has a 75% working interest in each licence, with ONHYM retaining their 25% stake."

The subsidiary has been transferred to Chariot.

I'm with you on that Wiggly. ENOG subsidiary containing the Anchois interest appears to have cash in the bank. That now belongs to Chariot. No mention yet of a cash payment to Chariot but that is included in the return of the subsidiary. ENOG have their reasons for not keeping hold of Anchois whether simply not big enough for them or other reasons. It is peanuts for ENOG when looking at their Balance Sheet. So now Chariot have control and are no longer waiting for ENOG on the next move. The rns from Chariot says nothing apart from the return of the licence but expect news soon on what AP has been planning for the last 6 months. As already mentioned AP will not have been playing dominoes all that time. The sp showing down 11.66% is rubbish as the tiny trades today show about net £20,000 buys. I'm tempted to buy more.

I think Harry knows quite a bit but speaks with forked tongue. My guess is he is holding a lot of Chariot shares. He won't admit it because he is playing games. If this goes pear shaped he will say "I told you so" If this flies high he will make a mint. Otherwise, why is he here?

I hope you are right about the sizzle GP but cannot see any life in £20,000 of trades today?

Yes I agree OC but HC could be thinking differently.

My money is on Harry trying to help push the sp down so he can buy buy buy to increase his holding and make a bomb. Know what I mean harry?

I'm guessing that because there is such a ridiculous spread the MMs are not interested in doing any trade unless there is a big profit in it for them. They don't need to watch it that closely. They may know more than us, but not less. They could have reduced their holdings waiting for a gone bust signal or they have a large holding waiting for a news bulletin so they can lift the sp which increases the value of their stock. They will have both options covered.

I hope the curtains aren't shut....

Harry, We didn't hear it from you first. These things have been mulled over a few times especially the idea that MMs are manipulating the sp.

If you want some Brownie points you will have to try harder.

How's your Tullow Oil doing down from 60p to 16p?

and your Predator down from 20p to 3p ?

MGAM down from 3 quid to 2 quid ?

SQZ from £4.50 to £1.50

Sound Energy 3p to .7p

You seem to be concentrating and commenting on some rubbish! Maybe one of them will come good for you?