Member Info for jt2017

Well, that's the first bit of good news we've had in a long time. Hope it doesn't have the usual RNS effect on the SP!

On a positive note, I believe any share awards are unvested and only become available in future years. Although, if the company is taken over, then it's possible the awards could be vested immediately. IMHO JT

If they do announce another share award via RNS, it would be nice to see an associated BOD pay cut with it. IMHO

Hi Ian,

I don't think they get purchased. Just issued and given free to the BOD etc over time.

You could ask Jimmy Lea, but not sure if you will get a reply. IMHO JT

Share incentive scheme. Free shares for hitting targets! Your guess is as good as mine for what targets. Not gas targets, that's for sure!! IMHO

If ENOG are going to exit the licenses, why don't they just announce it, rather than give ambiguous statements to analysts?

Either way, CHAR needs to focus elsewhere to generate revenue in the short term. IMHO.

Would they withdraw, or can they put the Anchois project on hold / not develop at no cost to them?

As for the remaining license area, are they a company that likes to develop existing discoveries, or keen to explore and drill?

More questions raised, than answered. IMHO

Looks like Energean are keeping their Energean Morocco Ltd company going for another year at least:

https://find-and-update.company-information.service.gov.uk/company/15285671/filing-history

Does anyone understand the block admission RNS. It said 20M shares to be added by 28th Oct.

Website updated:

"As at 25 November 2024, Chariot had in issue 1,196,366,922 ordinary shares (“Ordinary Shares”). No shares are held in treasury."

This is only a 15.5M increase. Have these shares been awarded to Directors now, leaving another 4.5M for future awards?

Any ideas?

Hi Oiltdr,

If that happens, in your opinion can Char test and develop on the existing Anchois wells, or will they need to drill a new well?

thanks JT

Also, all the prep work has been done including the environmental impact assessment. A reduced Anchois development hinges on the gas price. The fact that there is gas also de-risks other prospects in the license to some extent too. It is not elephant hunting!

IMHO JT

It does looks like the Anchois can is being kicked down the road again. At least they seem to be actively looking at a plan B. We might now see some activity on a partial sale / farm out of the power business. Still poor comms though and down to us shareholders to find the info via research. Are they too ashamed to even tweet it? IMHO JT

I don't think they are in a hurry to sell the power business. They are waiting and hoping for a positive outcome for Anchois to remove the cashflow worry and lift the SP. ENOG hold the key to CHAR's future direction. If there is a commitment to Morocco from ENOG, then I believe they will hope for a jump in SP and maybe raise again. You would expect Etana etc to generate some positive cashflow to CHAR at some point. IMHO JT

Hi Surety,

See this link on Namibia. Doesn't look positive:

https://www.reuters.com/business/energy/gas-may-dash-big-oils-namibian-dreams-2024-11-07/

I'd rather they preserve cash than spend it on licenses, unless there is guaranteed revenue from a third party.

IMHO JT

Ian,

I have had mixed responses from Jimmy Lea in the past. He answered my question on the FID payment, but has ignored other emails. He is obliged to follow the company line, so his responses tend to mirror what has already been released in the RNS's / reports. IMHO JT

You would hope so Surety!

The BOD and managers need to start earning their crust and show us a path to short term earnings, otherwise what is the point of pumping money into the 3 pillars. IMHO. JT

I think that the last raise acted as a safety net in case A3 was unsuccessful, whether intentional or not. Does anyone know when the power side is expected to start generating revenue? I thought it was next year.

They probably don’t want to risk testing at Loukos at the moment in case it backfires like A3.

They have to wait for ENOG to decide on Anchois etc, in other words it is outside of their control. They still have valuable assets, but no foreseeable short term cash generation.

AA still holds and has not yet walked away, but neither he or the bod seemed to have added / increased their holdings. I can’t believe AA is happy with the current situation.

Hi Surety,

According to Jimmy's link, June to August was a closed period, so not sure. You would hope that something is happening and as you stated their recent RNS stated good progress is being made.

I hope that whatever the new venture is, it generates revenue and is not an elephant hunt.

IMHO

JT

Hi Jimmy,

What do you make of this:

https://www.mme.gov.na/news/126/Petroleum-licences-applications-remains-closed-Sept-Oct-2024

Does it mean they have not been accepting exploration licenses for that period?

JT

3) Why is AP not purchasing more shares, if he thinks the company is so undervalued?