Member Info for Jimmy23

Chariot report a new potential high volume prospect in the south of the rissana licence close to well with gas shows called LBS1
See figure 5 for one of the four reservoir sections with a thickness of about 200 meters.
At
https://www.sciencedirect.com/science/article/pii/S1631071310001227?ref=cra_js_challenge&fr=RR-1

Chariot report in the annual report they are looking at strategic partnering to evaluate low risk prospects.
Expect a farm out for exploration acreage and drilling.

Jimmy

Dan,
Just to clarify matters, I am not a god nor am I a guru, I am just a guy who spent decades in the oil business. I look at fundamentals and sometimes indicate what I perceive as the unrisked value of chariots projects.
I welcome informed and contrary views to make sure the real potential in this stock is widely understood. I am not a day trader, although I have been out of most equities for some time now.
Expecting more general declines in equity markets and a major re rating of chariot with its fantastic portfolio of projects.
Jimmy

Forward price of gas for winter 24 on the ICE market is $20.7 mcf equivalent.
J

King Billy,
I don’t think charts work that well for low volume trading stocks such as chariot.
The fundamentals for chariot have got better, and with four production wells per the annual report, the npv will improve with higher flow rates.
Since chariot were nearly 3.5x oversubscribed for the open offer that will provide support at 18.
Markets are awful and i expect them to continue declining, particularly as sterling weakens.
Jimmy

Can we please just talk about chariot.
Jimmy

The annual report presents the recent rns information in a much clearer way.
I have noticed two matters.
1. “Strategic grow th in Morocco to accelerate growth from a portfolio of high value low risk upsides”
2. “ Pre-drill Anchois area hub best estimate total remaining recoverable resources of around 2 TCF and additional exploration upside in Lixus and Rissana, providing potential to deliver material gas resources for long-term growth”

Looks like an exploration farm out is in progress.
Jimmy

Interesting that the chariot annual report with diagrams is now published on its website.
Shows anchois to be produced from 2 initial wells and followed by two more, so maybe that construction review article was correct.
Jimmy

The new information I noticed are.
Four production wells, one of which will be appraisal to be drilled and during the development, by deduction I read it as being anchois north.
The pipeline is increasing from 12 inches to 14 inches thereby increasing daily production and hence npv.
Great news
Jimmy

Predicative text dam.
Series should read SERICA

Series should read series.

I believe that series previously approached chariot about a takeover, with their strong share price, I think they could try again.
Jimmy

I believe the reason for the delay in the cpr is that chariot need to get audited the very low risk which chariot reported for the lixus licence prospects.
The annual report states.
“ Following the positive drilling results of 2022, additional exploration prospects within the Lixus licence area with similar seismic attributes to the Anchois discovery are now considered to be low risk. Accordingly, extensive work is ongoing to extrapolate the lessons learnt from drilling results and the application of seismic attribute analysis to de-risk and rank the follow-on portfolio. This work includes conventional seismic interpretation, revision of the depth model of the 3D dataset reprocessed in 2020, and advanced analysis such as AVO, seismic inversion and spectral decomposition”
All that work needs to be completed and audited, hence the delay.
I also think the cpr announcement will co incident with a farm out announcement.
Jimmy

Not sure if this was posted previously
https://12ft.io/proxy?q=https://www.upstreamonline.com/field-development/flag-day-schlumberger-and-subsea-7-kick-off-feed-study-on-african-gas-project/2-1-1241807
Jimmy

Companies involved in renewable energy have acquired investment from the European pension fund industry who are looking for long term yield that higher than govt bonds.
Chariots renewable power division secures long term take or pay contract from mining companies that may meet those criteria. Chariot report they are looking at an equity investment into their 100% green power renewable energy business, so I expect an announcement by the Agm .

We know for certain there is an audited 361 bcf of proven gas in the A and B sands worth $900 million net to chariot , that’s the starting point , and then we have extra gas proven gas from anchois 2 well.
We are trading at a fraction of the audited proven gas volumes which chariot reported at $900 so if logic prevails the only way is up.
Jimmy

Interesting that Total eren are referenced as being part of project nour , which they are not, maybe they are the strategic partner that was referenced by chariot.
J

It’s really hard to know what’s next. The CPR will be first , then I think the farm out, which I think will add third party validation and valuation and drilling shortly.
Then I think project nour, which I think will be at a huge value as nothing is in the share price.
All just wild speculation as I only have the annual report to work on.
Jimmy

Hi theamatuer
The major news flows that I can see are.
1. Farmout for exploration follow up drilling.
2. Chariot report they have identified a large high volume prospect in the rissana licence, they state. “ One of the key prospects on Rissana is Emissole, located in the north-eastern corner of the 3D dataset. This tilted fault block structure holds 5 stacked reservoir intervals set in an unconformity sub-crop setting. Emissole has several visible flat spots and AvO anomalies, supporting significant volumes in shallow water depths of approximately 150m and with several follow-up opportunities.”
3. Chariot are in discussion with third parties for an equity investment into the green power for mines business. This would accelerate new projects and also provide a valuation to the market for this business which is probably given a nil value by the market.
4. Chariot have completed its preliminary feasibility study for the green hydrogen project in Mauritania and reported that they expect it to be one of the lowest costs of production in the world. Big oil are making huge investments in this area and a number of major oil companies have reported they expect to announce further deals shortly. No value in the current share price.
Jimmy

Hi king billy,
The sharp drop in the share price was caused by only 4 shares at the close and the prices traded before that were certainly higher, see the trades page above for detail.
I am surprised by the current share price based on what I see as the value of chariot.
However, it is very common on aim market for prices to retrace to the placing price particularly in times of low volume. I had honestly thought that with such great value in its assets that this was not, going to happen. But it has, and it’s an opportunity for those investors who did not get their allocation to purchase on the open market.
Jimmy

Y The chariot anchois field development scheme illustrated the well layout for the area. The no 3 well was shown located over anchois west and the plié prospect .
The plié prospect was not included in the audite pre well prospective resources.
However it is well described in an old. Presentation on page 8 at

https://www.chariotenergygroup.com/wp-content/uploads/2021/09/Morocco_Gas_Opportunity_Global_EP_Summit_July_2020.pdf

The plié sands were in fact encountered in the anchois 1 well and are reported as being thin sands with a gas show.
The prospective resource was reported at 250 bcf for plié and anchois west at a further 250bcf. The seismic signatures demonstrate gas filled sands just like anchois 1 and 2.
A well at this location could also target the sub nappe Oirsin prospect.
Jimmy