Member Info for Jimmy23

The forward price of gas for winter 24 is $18 mcf.
Chariots economics were done at $8.00 mcf
Jiimy

I am not interested in the personal boasts and personal attacks of posters, it serves no purpose.
I am interested in news and analysis that’s relevant chariot and it’s projects.
From Matt elsewhere.
https://www.reuters.com/business/energy/ukraine-gas-system-operator-declares-force-majeure-sokhranivka-entry-point-2022-05-10/

Now what will that do to European gas prices and the urgency of getting secure gas from Morocco , big oil will be taking notice.
Jimmy

Just three months after two giant discoveries offshore Namibia , the Namibia state signed an oil and gas export deal
Highly likely the pipeline will either through or nearby chariot acreage in Namibia.
https://www.upstreamonline.com/politics/namibia-and-zambia-set-to-sign-deal-on-natural-gas-and-oil-products-pipelines/2-1-1214593

Jimmy

Chariot usually issue preliminary audited financial results in may, so hopefully some good news soon.
Jimmy

Nordell
The geology Of the orange basin where the giant oil discoveries were made , that basin is effectively the same basin going north to the walvis Bay Area.
The key discovery that gave rise to the giant discovery in Southern Namibia is in fact the Wingat well drilled by Hrt just north of chariots acreage as described at.
https://www.geoexpro.com/articles/2021/11/south-africa-poised-for-exploration-greatness
That was the article printed before the discoveries .
Note how they describe the similar giant discoveries in Guyana, which is important for chariots Brazil acreage.
No wonder there is iNterest in this acreage as SHC mentioned in his meeting with chariot management.
Jimmy

Hi SHC,
I agree that chariot should not fund drilling on the high potential Namibia and Brazil blocks. Best to farm out or indeed keep on a non fee paying interest somehow.

To answer that question requires a deep dive into oil and gas legal documents.
Licence are issued by the state to explore and develop and produce oil to a consortia of oil companies.
The legal agreement governing the operations and obligations of a licence is called a Joint Operating Agreement.
Typically, the contractual obligations entered into pursuant to Joa provide that the liability in connection with such obligations are joint and several, which means that if one jv partner does not pay the other jv partners are liable. Hence a contractor is indirectly getting a state guarantee from the state oil company. There are complicated rules regarding the defaulting party and their interest in the field.
But in effect a contractor would find this arrangement very reassuring.
Jimmy

Nice after hour trades in high volume at over 22p
Fundamentals still great.
Jimmy

https://www.offshore-mag.com/regional-reports/africa/article/14248234/northwest-africa-emerging-as-a-key-offshore-frontier-area

Jimmy

I agree that there is likely to be a recession as consumers have less disposable cash.
As SHC stated, chariot is well placed to benefit from replacing the 40% of gas currently imported by Europe from Russia.
Going to keep gas prices high for some time
Jimmy

Hi BBB
yes, $8 an mcf
Jimmy

Obviously a rough guess, the npv value if all anchois, anchois north and west were gas bearing, an estimate of £2.60
That would be the unrisked value,
Jimmy

SHC,
The upgrading of the anchois 2 well net pay from 100 meters to 150 meters is significant because it’s likely to mean that for certain reservoirs that the anchois field extends to anchois nort and west. That’s because the movement of the north and west faults is circa 30 meters meters and if the reservoirs are 50 meters thick then there is reservoir gas communication across the faults.
In addition, if the extra reservoirs can be tied to the seismic then it most likely upgrades the remaining prospects in the lixus licence.
There is a lot to look forward to in the CPR .

AND THEN THERE IS BRAZIL AND NAMIBIA.

JIMMY

I do feel that a 270 share price is along term ambition that will need chariot to drill and discover another oil or gas prospect, most likely in the lixus licence or potentially farm out Namibia or Brazil
Jimmy

The Venus deep water oil discovery is now reported to have up to 13 billion bbls of oil and 10 to 20tcf of gas.
Chariot holds acreage on trend to the north with similar geology.
See.
https://12ft.io/proxy?q=https%3A%2F%2Fwww.upstreamonline.com%2Fexclusive%2Fworld-beater-totalenergies-venus-discovery-in-namibia-may-be-biggest-ever-deep-water-find%2F2-1-1206475
Courtesy of sandman link.
Jimmy

The additional reservoir data identified in anchois 2 well will need to tied into the 3D seismic and remapped in both the anchois field and the prospects already identified in the lixus licence.
Expect a major upgrade.
Jimmy

That is one of the worst prepared analysis, obviously performed by an algorithm.
The only useful information is that they calculate the discount rate to be 7.7 % instead of the 10% used by many analysts.
Ignore.

Schiemel
Chariot advised the market of the 150 meters of gas pay and the corporate presentation stated that the Halliburton logging tool was used in the well.
The Halliburton article provides more detailed information on the use of the logging tool.
I have interpreted that information as per my post, of course I could be wrong as I do not have the full data set that chariot have, that’s why there will be cpr to audit the new reserves.
Chariot previously said that the results of the anchois well derisk the nearby prospects, the detail posted in the Halliburton report allows me to speculate as to how the area is derisked and it’s potential accordingly.
Chariot had a published pre drill audited prospective resource of 900bcf so I am expecting the new reserves to exceed that . The cenkos broker report was based on pre drill audited reserves for the A and B sand of 361 bcf, with a value of 52p .
Clearly , huge upside, it’s all published information, just got join the dots.
Jimmy

Hi BBB,
The average price of gas in Morocco in 2021 was$11 mcf.
Predator cpr of its onshore gas discovery was prepared at $11 mcf.
Sound energy signed a long gas contract in Morocco at $8 mcf.
The ICE forward price of gas for 2025 was in excess of 16 mcf.
It’s likely that chariot will produce for both the moroccon and Spanish markets, I have suggested a$11 mcf blended price.
Jimmy

From geo expro.
Morocco, patience has paid off for Chariot Limited when in January 2022 it announced a significant gas discovery at its Anchois-2 exploration/appraisal well located in the offshore Lixus Licence in the Rharb Basin. The well confirmed gas that Repsol had encountered in its 2009 Anchois-1 wildcat but also discovered gas in deeper horizons. Subsequently in February 2022 Chariot announced it had been awarded the Rissana Offshore Licence which surrounds the Lixus Licence. The success at Anchois-2 will have had a major impact in de-risking prospects in the Lixus and newly awarded Rissana licences and could set up a potential gas hub.

Jimmy