Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
HI
Basic and excess entitlement have appeared in my AJbell account, but I cannot figure out how to take these up. Corporate action says “no response required”
Don’t want to miss this, so any idea when we are able to pay for them?
Shareholderchar
"The fact is the did hit the A sands which proves it extends further out than first expected and they thus sampled the dry gas from it." - There is a big difference between sampling and "evaluating productivity". They must have already had samples from A-1 A sand, and acquiring more was not the stated objective anyway.
"As far as integrity goes, A1 has proved it has full well integrity. Nothing more to add." - where do you see anything confirming A-1 well integrity? They found A-1 again and "coupled".
With O&G RNS, it's often more accurate to interpret what they don't mention, and when you have stated well objectives, and the RNS doesn't confirm those are met without good reason (I see none provided here), you have to read between the lines.
In my view, this is a typically ambiguous and vague RNS that throws in false positives, and may be disguising not great news about the condition of A-1. Too much use of the word “potential” for my liking and well objectives not achieved. Well objectives as per Chariot.
- Assess the integrity of the previously drilled well.
- Evaluate the productivity and gas characteristics of the discovered A Gas Sand.
- Provide a second future production well for the development of the field.
“inspected, prepared and successfully coupled” – so why not re-enter as planned?
“confirming its potential viability as a future producer well.” – the fact that it exists means it’s “potentially” viable. One of the stated well objectives was to “assess well integrity” and which would confirm its viability without doubt, and not “potential” viability. They have not done that as far as this RNS suggests.
“To maintain efficiency a decision was taken to not take a Sand A gas sample in the Anchois-1 well as gas samples were successfully obtained in the previously drilled Anchois-2 well. “ – so why was a sample planned in the first place? Well objective was to “evaluate the productivity and gas characteristics”, which were presumably missing from the original evaluation of A-1 by Repsol and is important data. Previous RNS confirms A sand not targeted, and suggests A sand wasn’t significant in A-2, and would be evaluated in A-1. Nothing changed based on results of A-2.
Approx. 35 days into a 40 day programme with stated well objectives, so should have been well within budget.
Not what I was hoping for, but even if A-1 is not a viable producer, and an additional well is required, I would not expect it to impact the project dramatically. These appear to be relatively fast drills, so hopefully low cost. A replacement well for A-1 may even be positioned to optimise targeting of A & B, offsetting any downside.
Not a great RNS, and the market sees it too, but I still think the “potential” (to coin a phrase) here is massive and will be holding for the long term.
Lots of positives with Chariot from this point forward, and lots of talk of rating far in excess of the current SP, and yet the SP rise hasn’t been spectacular given the potential here
A-2 exceeds pre-drill expectations significantly, which presumably puts development financial predictions well beyond 2C 361 Bcf
Deeper prospects de-risked
Anchois satellites and other Lixus prospects with similar seismic profile derisked
Investors lined up to fund development
Everybody wants gas
So what are the remaining risks here that are holding this back?
Anchois-1 well integrity found to be of no use as a future producer. Don’t know well costs here, but maybe adds 30M to development costs? Not a massive problem as I see it.
Finance falls through. If this is transformational for Chariot, then it’s still a valuable asset that should be easy to sell on.
I’m struggling to understand why, with so much potential upside, this share price has barely hit double digits on this news this week.
Objective views welcome
First time I've bought into an IPO. This one seemed like a good prospect given the focus on lab work these days. 2K into my SIPP. Very pleased so far
Jumunga
I’d love to think you’re right, and I will be holding out for that. But I’m also realistic and know that AIM shares often spike on good news and then drift down following that good news. Right now we have PI’s making a few quid on this good news, but what we need here is institutional investors to buy in to drive the SP. Institutional investors will no doubt have access to the well data, which PI’s don’t.
Call me cynical, but if I were on the board, I might hold back on some of the details of good news knowing that this would hold back the SP, until I was again eligible to buy shares in my own company, in the knowledge that once the big boys see the data, the SP will take off. Just a thought, but I will be holding and watching director dealings in Chariot very closely in the coming weeks.
Whilst this is undoubtedly massive news for Chariot, the news release is typically vague in places, and I wonder if this is what is holding the SP back at this stage, as 10p appears a daft price.
“Net” gas pay totalling “more than 100m”….101m and 199m are both more than 100m but very different
B sand total “net” gas pay of more than 50m
C, M & O “gross” interval of 250m with no water bearing reservoirs.
We figured A sands were not primary objective, and know B sands were low risk, suggesting C, M & O would drive SP, so why provide a “gross” interval only? We can infer more than 50m “net”, but come on, you have wireline logs so let the market know exactly what you have.
I suspect patience and stead nerves needed here for some time yet for this to come really good (transformational….)
Jimmy
appreciate the feedback, and glad to know my workings aren’t as unrealistically optimistic as I was thinking.
C sands appear to be low risk, having been encountered in A-1, and claimed to be 64% probability, so I would think presence and gas in M & O sands will be the driving factor here.
Now I am back in having a punt with Chariot, I would like to think that a positive result here will put Chariot on the path to a different league, and see institutional investors pile in. Now that would really drive the SP up. We live in hope…..
Not sure how these estimated prices are evaluated, but taking an interest in Chariot again, so spent some time studying the corporate PPT for Anchois, and as far as I can tell
Costing of 2C development (pg 7) is based upon A & B sands only (pg 21 - 361Bcf). Pg 6 suggests the well design is targeting B sands primarily and the prospective deeper targets
Does this suggest if A& B come in, the project is viable, and the deeper targets are a very nice bonus that make the economics even more viable?
My optimistic but probably incorrect calcs suggest, if A&B 2C come in and it gets developed, 2C net cash is 1.5B (pg 24). At 60M market cap at 7p, if it goes all the way, x25 upside on that share price. Long long way to go, including funding, but if the other targets come in, does that suggest potentially massive upside, in a relatively short period (first gas 2024)?
If anything more than A&B come in, Chariot may be a very good long term hold, especially considering the value in gas these days in terms of price and enviroment
Snott...I suspect you are right, and I’ve seen and experienced enough odd practice on AIM, especially in oil stocks to believe the FCA, etc aren’t that interested or have the time.
So, that being the case, if those big buys are real and they know something we don’t, anybody know what’s the realistic upside next week on SP assuming Chariot have finally hit the motherload?
I’ve always been led to believe that the FCA, SEC, etc all have sophisticated algorithms that can spot suspiciously timed trades and patterns to detect insider trading, and will pursue insiders making money from the practice. People on these platforms appear to not need sophisticated algorithms to spot the practice.
Am I being naive and you’re saying it is that easy to get away with it? Ie. Somebody can place buys totalling £110K, which appears to be significantly above anything seen on this share forever, just before an announcement that will presumably make them a pile of illegal money, and the regulatory authorities don’t spot that or act on it?
Followed Chariot on and off for a few years, and hoping this will be a big turning point for them
Had a quick look at the corporate presentation and Anchois-2 and page 6 suggests quite a complex appraisal with so many targets for a single location. Where this goes following results would probably be driven by the what well primary objectives are and how much of the low risk is factored into current price. Did not find any info on well objectives for Anchois-2, so appreciate any insights
A & B sands proven in Anchois-1, so if either or both didn’t materialise or not gas bearing in Anchois-2, probably a big disappointment
C sands says low risk based upon Anchois-1, so may depend on sand thickness at that location
M sand water bearing at Anchois-1, so gas bearing sand at Anchois-2 would be likely be a good result. Decent thickness even better as saving for a producer.
O sand appears to be pure exploration, so may be that any indication of hydro-carbon could be a positive result for this well location.
Will be an interesting result for sure….
Just coming to this board and a little out of touch, so apologies if this has all been discussed. I realise they have been delisted but am wondering if anybody could explain in simple terms what this means in reality.
- is the company still active? Website doesn't appear updated
- do my shares have any value?
- how would I go about selling any value, if any, left in my holding? Am I supposed to have received a share cert?
Thanks in advance.......(this is feeling like Afren)......
HSBC RAISES RIO TINTO PRICE TARGET TO 4675 (4650) PENCE - 'HOLD'
Rio Tinto closed down 7.5% after Societe Generale downgraded the Anglo-Australian miner to Sell from Hold.
So did somebody at HSBC come up with an overly optimistic analysis, or some at Societe Generale an overly negative analysis? You can't make it up, or win with this game......makes you wanna give up
You just can't win....it;s almost like they knew where my stop loss was set.....
Doesn't look like the strike in Chile will be resolved any time soon. 6% of global copper output...... http://www.cnbc.com/2017/02/07/workers-at-chiles-escondida-copper-mine-to-strike-thursday-union.html