Member Info for Jungmana

Cove got bought primarily for their 8.5% share of the giant 50 TCF of gas resources offshore Mozambique for GBP1.2 billion in 2012.
Made me good returns on my small investment then.
Lixus has 1TCF and from this transformational A2 results could potentially hold 5+ TCF This is located just south of Spain , offshore Morocco. Also compare the gas prices today and European demand to 2012.
We are sitting on a 10 bagger from this level imo and as Malcy said

Just done the maths, we've traded about 260m volume since the transformational news last week Monday.
Profit bankers at this level must be nearly exhausted imo.
A juicy news with the webcast next week should see a good rise .
targets , FinCapp 54p and PH 41p

Seems to be stabilising. Slightly up when most shares are down today.
Char should be trading about 20p imo. Thanks to December 7p placing sellers and panic investors we are under 10p today.
Fincap 54p target and Peel Hunt 41p

Thanks very much shareholderchsr for that detailed post on finances. I had $17m as approximate amount left which is pretty close to your figure of $12m to $16m.
I hope those who thought funding was imminent have their worries laid to rest.
I look forward to the investor webcast next next week.
Onwards and upwards

Anchois development will be debt funded with 2 lending institutions already lined up and the green hydrogen project is only at the feasibility study stage right now. Jv expected there shortly.

By Elsa on the other board and I agree having looked at their raising, expensesand budget. Should be $17m to $20m of cash in hand today ;

Taking a look at this as the volumes have been quite substantial.

FWIW.
Those saying they need a fundraise.

At end of June 2021 they had net cash of $18 million and will have spent $2 million on admin expenses in the last 6 months (using previous figures as a guide).
They also raised $11 million net in December.
Budgeted expenses were $7 million for Anchois drilling.
So 18 + 11 - 2 - 7 = $20 million left approx.

A reminder of what Malcy said:
"The market has not yet got the hang of this, to repeat I think that the shares could and should rise by a multiple and it’s going to be quicker than many imagine, not often a five or even ten bagger sits in front of investors.�
I hope those who have taken their money off the table today enjoy their profit but personally I will remain invested for the 5 to 10 bagger. When this moves up again it may well cost you more than your profit to get back in. The II’s know how this works and were largely on the sidelines today, but they will be back soon. An interesting few days ahead. We must also be due news on our other investments any day now."

Munchbox - this statement you made clearly shows you have no clue;
"Can see 7p here again. God forbid if somehow the A1 drill doesn’t come up good or there’s a hitch drilling it … how long can we bare this."

The placing was too close to A2 well results news ( about 3 weeks) therefore almost no selling to clear the churn as was holidays too (Xmas and new year breaks) and price was barely above 7p.
Imo those placees who want to bank profits have been doing so over last one week or so since the big news.
There could be a big opportunity at 9p to load up if you thinking medium to long term investment.

A 750k buy there after close

Increased by already large holding by about 10% today.
This will be a winner medium to long-term

By a respected poster on the other board;

31/10/21 Cash & cash equivalents = $6.014m.
Current liabilities note 8 = $418k. = Bal $5.6m.

3 further months of salaries to end of this month = $630k = Bal $4.96m
Cash calls 15/11/21 $1.681m & 22/12/21 $1.748m = Bal remaining $1.53m.

Is there any possible cash call now as of 19/1/22 or were these calls all made upfront or in arrears and was that the last of them on 22/12/21 ?

Either way, with further salaries to end June cash appears very tight.

This is just a punt. Do not bet big on it at this price. Main concern for me is the cash position if this is right ?
"Cash position is $2.5mill approx, recently stated in rns cash position of £$5,681m - but -
Cash calls from the associate company
On 15 November 2021 and 22 December 2021, the Company received notices of cash calls amounting to $1,681,000 and $1,748,000 respectively from the associate entity Carnarvon Petroleum Timor to provide financing to cover costs relating to the Buffalo-10 well being drilled in the Buffalo field."

Trading halt always happens on ASX pending major announcements. Let's hope the drill is a success

I believe we will end up with 5+ TCF of gas at Anchois . The potential is huge and most importantly is on Europe's doorsteps where we are hungry for gas

Morocoli, the only weird thing is your first post on lse. Is that you speedferret?

https://www.proactiveinvestors.co.uk/companies/news/971421/chariot-completes-anchois-well-programme-successfully-971421.html

"The development plan from a Pre-FEED study consists of two subsea wells tied into a subsea manifold with a 40km offshore flowline connected to an onshore gas processing facility, from which a short 40km pipeline connects to the trunk pipeline to Europe allowing access not only to the growing Moroccan energy market but also to the European gas market.
In Q4 2020 Expression of Interest Letters to debt finance the development were received from the African Finance Corporation ("AFC"), a pan-African Multilateral Development Financial Institution with over US$6 billion in assets, and a major Multinational Investment Bank.
In December 2020, the key terms of a new Moroccan licence were negotiated which is approximately 3.5 times the area of the Lixus licence. The Rissana Offshore licence completely surrounds the offshore boundaries of the Lixus licence providing material potential running room in various gas plays on-trend with the Anchois gas discovery."

An extremely successful campaign that has derisked potentially several trillion cubic feet of gas in the Lixus licence area and the greater Anchois field.

Adonis Pouroulis, Acting CEO of Chariot, commented:

"I am pleased to announce the completion of our very successful Anchois gas appraisal and exploration campaign, offshore Morocco. In addition to having now two confirmed gas discovery wells, we have directly de-risked a material portfolio of prospects on the Lixus licence area.

Our ambition is to bring the Anchois gas development online as quickly as possible, to fuel Morocco's economic growth, but also to deliver near-term cash flows to the Company. We will now look to conduct further analysis on our findings, to optimise our development plan for the field, with both wells earmarked to become potential production wells, as part of an accelerated field development plan for the benefit of all stakeholders.

After the successful transformational well results at char last week, I hope we are successful here at Adv too. Looking good so far.
I hold both adv and char.