Member Info for jt2017

Hi Ianfer,

It shows AP holdings lower than before, plus shows DW holdings before his latest Dec23 purchase, so not sure if it is the latest info.

Hi Surety,

The one on the Chariot website only gets updated every 6 months as per the AIM rule, so that won't change until June.

I think someone had a link to an alternative site.

I think the continuing delays to Anchois first gas, plus the perceived risk / uncertainty is probably the major factor in the SP decline, rather than the other pillars IMHO.

That said, I would like management to be more transparent about when will start seeing earnings from the renewables and what value they will eventually bring to the business.

Hi Fernan,

Looks like they are being very conservative in their resource estimates for the LNB-1 lower, due to the lack of log data.

If the original Anchois resource was upgraded tenfold by the latest processing techniques, then they must believe they can achieve similar results in Loukos.

IMHO

I think that the Energean decision on the 10% option / carry will depend upon finding more gas in the new sands of the new Anchois drill. They still have Soc Gen in the background to fall back on for finance if the option is not taken up. We can’t be that far away from some revenue streams from the renewables, otherwise, what is the point of the other pillars of the business. At the moment the SP is priced for the uncertainty / risk on Anchois. Let’s hope success with on-shore will change things.

DYOR

And right on cue!!!

Hi Ian,

In the past the SP has been matched with those pesky A trades. Can't see any today.

Thanks GreyPanther,

I actually received an email from IR this morning confirming that the existing hole will be plugged before the new side track drilling.

Where they have stated that the new side track should not have the same issues because it is only 100M in length. Do we know what was the length of the existing side track? Surely it was similar in length? Just trying to assess the risks.

thanks.

For the experts out there, will the flow from the new side track add to the current flow rate from the existing side track?

If it does, then it means we have a greater chance of reaching the max flow rate.

It would be nice to know why the sand jetting failed. Was the formation damage greater than predicted? What will they do differently to ensure the same problem does not occur in the new proposed side track. Will they plug the existing side track or leaving it producing in parallel? They should give more info IMHO.

I think Predator had trouble perforating the zones during testing because of formation damage by the drilling mud. Hopefully we have better luck with our on-shore drill & test. Not sure if we could encounter the same problems though at Anchois during testing. Jimmy maybe able to advise.

Hi Jimmy,

Why did SDX give up on the lnb1 well and the acreage? I can see that is was considered non-commercial at the time, but they were considering stimulation and re-testing, although I'm not sure if that ever happened.

I believe you are also invested in Predator. If their on-shore discovery is as big as some are predicting, do you think that will have any affect on Chariot (good or bad)?

thanks

Hi Surfit,

I expect that there is a time limit for the regulatory approval by the Moroccan authorities. I believe for company mergers a decision has to be made within 60 days. Not sure if it similar for our partnership.

Hi Jimmy,

Do you think that Energean will only take up their extra 10% option if the extra gas in the new zones is proven by the latest well?

If they don’t take up the option, I assume we will need funding for our share of the costs through SocGen and some risk for us will remain. If Energean do take the 10% option, the risk to us is completely removed as our share of the costs will only need to be paid back from any gas revenue.

The good thing is that our current cash burn must be reduced significantly, as Energean are now covering our Anchois costs to the next drill via the carry, although it will eventually be repaid if and when gas revenue happens.

According to the RNS, Covalis held over 3% in a CFD. Did that have a time limit and they had to close out?

I'm not familiar with CFDs?

See the latest significant shareholders according to the company website, as per 29/12/23

https://chariotenergygroup.com/investor-centre/aim-rule-26/

Does anyone know what it was before the partnership announcement?

Energean's announcement on the agreement:

https://www.energean.com/media/5612/morocco-country-entry-and-farm-in-to-gas-development.pdf

JT

Hi Jimmy,

thanks for the confirmation.

One last question: Will they flow test on the on-shore prospects as part of the $3M cost, or is it not needed? Not sure how many zones there are in each onshore prospect.

thanks.

Hi Jimmy,

Energean state cos for the new target sands of 61% (o sand) and 49% (north flank) in their press release. Do you think that FID will depend upon success of those new targets? I assume as Energean are now the operators, they will decide the way forward and may not be interested in progressing with a smaller development, though I would have thought that spending up to $85M for the latest well etc, it would make sense to continue. Just trying to assess the risk to FID of this new well. How confident are you that the drill stem test is mainly for the purpose of the well development design and that we will have a decent flow from the sands?

thanks

Hi Surfit,

I value your posts, as do others.

I was just wondering if the past burn rate was due to pre-development costs, rather than to keep the lights on. Hence going forwards the rate may be less.

thanks.