RE: Jimmy17 Sep 2024 12:54
From Advfn
The Skipper15 Sep '24 - 21:36 - 14689 of 14797
0.123400 4 1
Well if you’re not able to back up your post with a link I’ll have to discount it. The new broker note has a price target of 40p. Here’s the summary:
Chariot Limited (AIM: CHAR)
Share price: £0.07
September 11, 2024 Target: £0.40
Anchois-3 encounters gas in the appraisal
target but one of the exploration targets is dry
• The Anchois-3 well has 3 objectives. While the initial pilot hole
encountered the targeted reservoirs at the Anchois Footwall prospect,
they were interpreted as water wet. Our ReNAV for this prospect was
£0.03/sh.
• The well was sidetracked in the B sands which are the main appraisal
targets. Preliminary interpretation indicates the presence of gas in
these sands. Our unrisked NAV for the 2C resources is £0.27/sh. We
carry 75% probability of development.
• Drilling is ongoing towards the deeper targets. This includes the
Anchois North Flank prospect (O sands) with an additional 2U
Prospective Resources estimate of 213 bcf. Importantly the North
Flank prospect is deeper than the Footwall prospect and part of a
different structure separated by a fault. As a result, the fact that the
Footwall prospect was water wet has limited impact on the risking of
the North Flank prospect. Our unrisked NAV for North Flank is £0.07/sh
with a 49% chance of success.
• A success at Anchois North Flank will also de-risk the nearby Anchois
South Flank prospect with a 2U Prospective Resource estimate of 372
bcf with an unrisked NAV of £0.11/sh and 57% chance of success.
• As we remove Footwall from our ReNAV, we have changed our target
price for Chariot to £0.40/sh. Further details on the well results are
expected next week.