Member Info for Jimmy23

The forward price of gas for 2024 in the Spanish market is currently $21.85 mcf and chariot prepare€ its economics at $10 mcf, that’s before it increased its planned production from 70 mmcf per day to 100 mmcf per day.
If the o sands are confirmed as gas bearing production will increase to 150 mmcf per day.
This will be a huge cash cow.
Jimmy

Surfit,
The way I would present the chariot green credentials is that Morocco generates most of its electricity from coal,and chariots anchois gas development can replace such coal consumption with a 55% saving in co 2 emissions.
The green hydrogen is an exciting project but requires the Oort energy electrolysers to be demonstrated as lower cost at high volume, will happen just don’t know when.
Jimmy

I agree with you caterham.
In my view the issues to be resolved by the drilling and testing programme are
A) flow rates
B) gas water contacts
Jimmy

The roadshow was mentioned at the last presentation as targeting European and North American institutional investors for value investing opportunities.

The mou 1 well encountered shallow gas at 605 meters, which I expect will be encountered in the current mou 2 well, so by the time markets open on Tuesday it’s likely to have been drilled through.
Had another look at the seismic and can now see the flat spot between mou 1 and 2 .
It’s going to be an exciting few weeks.
Jimmy

Hi all,
Happy and prosperous new year.
We certainly are having to be patient with this share price but looking forward to a great year.
Jimmy

Can any.one advise if the final mou 2 well location is still to drill into the fourway dip ant line
Jimmy

Keith
Good points.
We know that the mou 1 wireline logs took weeks to be interpreted correctly, so at Td we will have the mwd logs , will they announce those results at Td.
It seems like information flow will be poor at Td.
It looks like there will be a series of announcements the most important of which are the flow tests
Jimmy

Kingbilly,
Just for the record , it was stated at the chariot presentation that the Feed study was almost complete, so obviously not announced completion of feed yet, but it seems imminent.
Happy and prosperous new year to all.
Jimmy

Hi Charlotte,
My focus is on Morocco, T and T just not enough information to form a view, need to see the competent persons report they have commissioned.
With regard to Ireland I do like the corrib south project, but will be a binary situation, they either get a farm or don’t so we have to wait. Mag mell is a long shot in view.
Jimmy

B4now
I agree that Morocco has to be the primary focus for chariot. The importance of third party non debt finance for the green power is that it preserves cash for the moroccon project.
You make a good point that development suppliers may be concerned about big contacts with a small company. This can be addressed by the support of the Soc Gen banking consortium. In addition if the contracts are signed with the joint venture with onhym , then such a contact is joint and several and is effectively backed by a the moroccon state oil company, which should also help address such concerns.
The big advantage of a farm out is to get the low risk anchois sattelite prospects drilled which hopefully will increase proven gas volumes to approx 1.4 tcf and allow production to increase to 150 mmcf per day. Now that’s one great project .
Jimmy

Hi snott,
You are correct that chariots current installed green power has not a lot of value, but the pipeline of projects is growing rapidly and it needs non bank debt finance. The purpose of my post was to illustrate that life assurance companies are looking for such investments by way of direct investment in subsidiary companies, thereby avoiding dilution of parent companies
Jimmy

Speedferret
Yes, the share price went down to day, I think you should sell asap as your predictions are coming true.
An opportunity for long term investors who understand oil and gas to top up.
Jimmy

Chariot have stated that they intend to take third party equity finance into their renewable power subsidiary.
This was done by repsol for $1 billion with investment from life assurance companies looking for a solid yield on their investment, see.
https://www.upstreamonline.com/energy-transition/global-ambitions-oil-player-repsol-makes-600-million-swoop-for-huge-wind-and-solar-base/2-1-1375474
Jimmy

I am happy to be corrected if my posts are wrong, but speferret and Fazer seem to me to be of the mindset, don’t let the truth get in the way of a good story.
You have try harder guys, very poor.
Jimmy

With a purchase price of $9 million and assuming it reaches the 5 million bbls p50 reserves it works out at $2.14 per bbl undeveloped. We need to see the independent reserve report on this.
Having visited oilfield in Trinidad a few years ago , a lot of these fields have a high water content which results in expensive water treatment and disposal. Let’s wait to get more details .
Jimmy

Fazer, take your own advice and sell, as you correctly state the share price is falling.

Fazer
I am not employed by chariot or by anybody connected to chariot , these are my views , I agree with you that’s it’s best you sell
Jimmy

One daymyson.
If you choose not to believe a statement by the ceo, you should not be invested here. Simple.
Jimmy

Gazer,
That’s not common practice to disclose who you are negotiating with .
Jimmy