Member Info for Jimmy23

Harry.

Not sure if you have listened to the latest presentation.

1) the increase in reserves from 635 bcf to circa 1tcf is based on the O sands being gas bearing .

2) the O sand in anchois 2 well found 10 meters of gas, and the seismic character of the adjoining O sands compartments indicate gas bearing, and the chance of success is over 60%.

3) the capex increase to produce from 105 mmcf per day to 150 mmcf per day is 5%

If successfull will result in a 75% increase in npv of the gas, and it’s fully paid for.

The time line is fid in 2025 so fairly quickly to receive a further $65 million to chariot which is a very high % of the chariot market cap.

Jimmy

I am looking forward to the flow test results of the jurrasic at mou 4, which will hopefully confirm the good sustainable flow rates and has the objective of validating the nuetech interpretation of the wireline logs.

If the mou 4 well has more than 2 meters of reservoir then clearly the criteria for log interpretation needs revisions before mou 5 is drilled.

The risk regarding the prospect is how thick the reservoir is and how widespread are the porosity and permeability in a carbonate reservoir, which can be highly variable and may require a lot infill drilling, the starting point of which is to proove the reservoir updip.

All the more important to proove gas flow at mou 3 which can be used to finance a follow up drilling program without ongoing dilution.

Hopefully results soon.

Jimmy

I also noticed that mou 1 had shallow gas shows , but was not wire line logged.

Again, mou 3had shallow gas shows, and very high pressures , but was not wire line logged.

The initial interpretation of mou1 was a thermogenic gas but subsequent analysis of gas samples has confirmed its biogenic.

I suspect the shallow gas may be more widespread than first thought, but without wireline logs it’s difficult to prove.

Jimmy

The difference I spotted was that funds were being raised in July 2021 for rigless testing of mou1.

J

Back to the future!

I am now revising my thoughts regarding which Namibian block and think that it’s the block 2714 that chariot have back in rights. It’s adjacent to acreage held by pan continental and which extends in the southern extent into chariots acreage.

Please see presentation by pan continental at.

http://pancon.com.au/wp-content/uploads/2023/05/Annual-General-Meeting-Presentation-November-2022.pdf

Note how chevron farmed into another orange basin block for $100 million for 80%

Jimmy

The raise of $6 to 8 million included the funding for a block in the Namibian orange basin where super giant oil discoveries have been made.

Good description of the geology and opportunity at.

https://info.tgs.com/hubfs/2022%20Articles/GEO%20ExPro%2019_03-Foldout%20TGS%20-%20Namibia%20-%20FINAL.pdf

Wort a lot more than $8 million I think.

Jimmy

Ford.

I have not seen a two year delay for a planned flow testing previously.

Of course matters can be delayed for operational reasons , not seen two years though.

Looking forward to the flow test results, more patients required it seems.

Jimmy

22august 2022, predator announced completion of funding for sand jet perforation of mou1 and drilling and testing of mou2.

Definitely not a share for spreadbetting.

Jimmy

Such delays indicate to me a change of plan. Maybe Keith is right, they are now going to perforate the shallow gas reservoirs.

Jimmy

Yes,,meant 2812

J

Hi cash and card.

My observations of the giant discoveries in Namibia are that they are in Deepwater of 3000 meters plus as sea floor fan deposits in huge stratigraphic traps which are easily identified on 3D seismic by way of Avo signatures, hence the circa 80% drilling success. Rate.

My concern about chariots back in block of 2714 is that it was identified as mostly gas prone in chariots previous presentations, which have now been removed from its website, so perhaps they are being updated.

I would prefer if the block was 2714 as it’s on trend with the giant discoveries and in Deepwater.

Jimmy

Cash and card.

Please see the 2024 Namibian licence map at

https://www.mme.gov.na/maps/

You will note that block 2812 is currently unlicensed and adjacent to blocks with multibillion barrel discoveries. It also happens to be within the Aptian reservoir fairway.

That’s my guess at the moment.

Jimmy

MEM.

Nuetech are thin sand log analysts.

I don’t think a stabilised flow rate needs much interpretation, it will be what it is.

J

Cash and card.

What do you think of block 2812 in Namibian orange basin

J

I agree, there should have been some news on the primary flow testing targets in mou3 by now.

J

Chariot were one of the leading explorers in Namibia and the results of its wells and those of Hrt. Led to the identification of the Deepwater giant discoveries.

It appears that Namibia remembers this.

Chariot say they have a farmin in partner, so it’s not that implausible.

So it’s probably worth a lot more than the $6to $8 million equity dilution.

J

I have re read the announcement and it’s a new block for chariot adjacent to existing oil discoveries with multi billion bbl potential .

A good summary of the Namibian orange basin is at

https://africaoilgasreport.com/2023/07/oil-patch-sub-sahara/the-orange-basin-deepwater-namibia-the-worlds-newest-and-hottest-oil-and-gas-hunting-grounds/

My revised view is that it’s block 2812 which is the only block unlicensed and adjacent to existing discoveries. Likely farm out partner will be Total .

Note this acreage is included in the Aptian geological fairway which has yielded over 10 billion bbls of discoveries so far.

Chariot are well placed in Namibia.

Jimmy

Keith

Except that the shallow horizons with the high gas pressure you mentioned are not included in the list of reservoirs to be flow tested for some reason.and of course such shallow high pressure reservoirs were not subject to standard wireline logs.

Jimmy

Fernan.

The only open block adjacent to existing discoveries that’s new acreage for chariot is block 2812 in the orange basin that contains a continuation of the aptian fairway that’s yielded over 10 billion bbls of new discoveries in recent years.

Jimmy

Ccc.

The reason I posted was to compare chariot and predator properly you must include the financing pathway to production cashflow. Chariot has done this with its anchois farm out and all we know from predator is that they can issue up 200 million shares for cng development.

So comparing like with like.

I am invested in both chariot and predator and I am looking forward to positive results from predators. Flow testing of mou3 which will validate the wire line logs interpreted by nuetech.

Jimmy