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Vessel finder has updated the status of the Stena Forth to 'underway; destination Anchois well Tangier"

Expected arrival date August 18th.

It's happening!!

Vessel finder has updated the status of the Stena Forth to 'underway; destination Anchois well Tangier"

Expected arrival date August 18th.

It's happening!!

File:///C:/Users/41797/Downloads/SUBC%202Q24%20Earnings%20Presentation.pdf

Taken from Subsea 7 recent 2Q24 results preso. They’ve highlighted ‘Energean - Anchois’ as a business prospect with the footer note “Integrated SURF-SPS; FEED already awarded, Subsea 7 is preferred EPCI supplier.”

And they reckon the cost will be $300m-$500m.

They wouldn’t have included this in their 2Q24 preso just for the craic.

Stena drilling have confirmed the Stena Forth is u defining seal trials ahead of its next destination - Morocco.

It’s a been a long wait, but hopefully we are nearly there.

https://www.linkedin.com/posts/stena-drilling_care-innovation-performance-ugcPost-7224754409065361408-27pJ

Jimmy

I agree that our 20% share of Anchois is worth a lot more than 100m. But we have already agreed in our deal with Energean to sell 10% for 50m right? I’d be rather surprised (happily so!) if Energean offers to buy our remaining share for multiples of that, knowing that they’d need to pay 75% of capex costs in that scenario too.

Wouldn’t the smart move be to proceed with Chariot owning 20%, get to first gas, then offer to buy out Chariot’s share AFTER they pay back the carry?

Iwonttell

Perhaps the assumption is that, if Energean exercise their option to acquire another 10% of the Lixus license, what’s to stop them offering to buy out our remaining 20% too?

Then they’d have the entire Anchois play, all its satellites and everything else in Lixus which all in all we guesstimate to be +4tcf.

What price would Char be willing to sell it for? Well given that we’ve already agreed to sell 10% for 50m plus the royalty add on, perhaps we’d sell out for +100m, payout a special 5p dividend and keep the rest for more exploration?

I welcome CHAR's addition of Namibian oil to their portfolio. They are still a transitional energy company, having decided to retain and expand their portfolio of renewable energy projects.

Just tell us Oiltdr!

Well allow me to pick it up!

Perhaps it's because we'll have money coming in from other sources soon?

I can speculate that we were given this buy-in opportunity by Namibia along the lines of how we were awarded the Loukas license by Morocco i.e. due to AP's contacts we are considered 'preferred-candidate' for the license, ahead of lots of other O&G firms. And, if so, we could well have a partner already lined up. It's even possible to speculate that it's the partner who pushed us to go for it, with the promise of a good partnering deal in return.

Watch this space. It wouldn't surprise me if things move fast with this new Namibian venture.

Thebold

What’s this? You sold some Chariot shares?

Isn’t this the reason why we are invested already? We see huge potential for Char’a future, whereas the market doesn’t quite see it . . . yet.

Padfoot, a 18p buyout!? Are you kidding me?

We are worth x3 times that at least.

So we’re not the only ones who are disappointed with this trip!

Ian & Thebold

Read Surfit's message again! He wrote "It's going to be rather interesting, if onshore deemed non commercial"

ONSHORE

It's a fair point to raise IMO. There is a chance it's non-commercial for various reasons.

It has begun

Our project is controversial due to the necessary displacement of people as well as the nature of the coal extraction. It doesn’t surprise me that we’ve not seen any talk about it yet in the media. It could in fact get the GL next week, along with all the other projects mentioned, without any fanfare. They may be hoping that it gets buried under the chatter about all the other less controversial projects.

It appears, based on the recent volume, that those in the know have already taken their positions in GCM.

I’m still hopeful for next week.

Dartois flow test results?

Maybe Exxon will outbid Energean for our gas assets upon appraisal results.

@Harrycarter

Yep.

Did you read the RNS? What do the words "under the same terms as above" mean to you? ENOG will carry CHAR to first gas if the option is exercised or not. It's very clear.

This is my last response. I wish you a rich and fulfilling life.