Member Info for Jungmana

A no brainer at this price sitting about cash level. Finncap value the new gas acquisition at 20p. That plus cash alone gives 24p about value here. Then you've got good prospective licences in Brazil,Namibia and Morocco on top of that

Well for now Finncap value the new asset at 20p. And this is only likely to grow as the entire field cpr is bring worked on and should be released within 2 months according to the CEO.

There is a very informative corporate presentation and investor conference call which was held on 3rd April on the CHAR website. Worth a good read and listen.

A good day of consolidation after the rise from 2p over last 2 sessions. Cam see us pushing over 4p next week. Extremely undervalued right now

Why would they raise funds with approximately GBP 14m of cash in hand?

During the oil down turn in last few years. Big companies trimmed down their projects even in the north sea. Some licences were left to lapse . A good example is i3e acquiring liberator for $1m in North sea from Dana petroleum. There are such opportunities all over the world in the oil industry. This is one such opportunity char has benefited from in getting this good gas discovery for $1m initial cost

Agreed. Right now this is worth 20p easily imo. 70million boe is a lot on top of 3.8p equivalent cash pile

Rifteast this will hit 20p this year imo. Just patience needed. Lots of news from now on from the many fronts.

Good buys there. Cheap as chips right now

Good healthy pullback to 3.7p imo and should see more buyers to push us over 4p . Short term target of 8 to 10p for me

Going forward there should be lots of news on many fronts. Short term target 8 to 10p imo.

Thanks for reposting. Tops

If you check further down you will see in the proactive article. Could not repost the article again

Cash in hand right now is about 3.8p equivalent ( £14m) everything else, licences in Brazil, Namibia and Morocco ( including the huge new gas acquisition) is for free. The gas project is a discovery made by repsol and Dana but handed back to government due to the oil price crash and recession. Car just picked it up for peanuts. Not a wild card high risk venture. Personally char is worth a conservative 21p imo right now. Finncap have a target of 155p. Yes, 155p you heard me right.

https://youtu.be/_thwrZYH52A

https://www.proactiveinvestors.co.uk/companies/news/217838/chariot-oil--gas-expands-morocco-footprint-with-acquisition-of-lixus-licence-217838.html

https://www.brrmedia.co.uk/broadcasts-embed/5c9b545aec650d01c34f4944/chariot-oil-and-gas-&playeronly=true

No one is saying will go to 20p in a straight line. The road is always choppy on the stock market. There will be ups and downs on the way

Am going for 6p tomorrow, touch wood. With lots going on in the background on the different projects, 20 to 40p is achievable this year imo.

Could get to 155p but not this year for sure. But with exciting projects in Brazil, Morocco and Namibia , anything is possible long term