Member Info for Klein57

Hi Surfit.

Thank you for your balanced response.

I have held since 2010 and suffered, and benefitted, under the previous leaderships decisions to pursue big off shore oil finds in Africa. There was a time in 2011 when the price went to £1.80 and I sold a few to buy a car. It’s been buying ever since.

I have attended company meetings and AGM over the past four years. I have got to know the board, not well but enough to be recognised. That has led to a degree of trust - maybe misled and maybe blind. But I do think the overall strategic focus on Africa, started by AP, was a shrewd move that will work out well.

There is plenty this board has got wrong. But we are a non revenue generating company, looking for deals and opportunities in a very competitive and flooded market. What reassures me is AP’s stake and his solid determination to turn things around after the debacle of the last ten months.

I do not regard the board as greedy. They are remunerated in line with peers but I do think historic share awards have been excessive. A change of Chair last year has improved balance and scrutiny, in my opinion.

A pessimist would say there’s lots to worry about. An optimist - me - would say there’s lots to look forward to. As for accountability, AP is adept and ditching questions that are historic rehashes of decisions and events. His focus is the near horizon and gives short shrift to the past, unless it’s sharply relevant to the present or future.

AP on the from foot is a massive force for good. On the back foot he becomes fractious and defensive. Depends whether you want a platform to moan from or an accountability session that acknowledges the historic difficulties and present opportunities.

I’m not sure that the SP is directly influenced by all the board do. Black Swan events have their impact. Investor sentiment likewise. Between news, the frailties of AIM and the power of the MMs take the market wherever it goes. But I do agree that we should get more regular updates than we have.

I’m here for the long term, whether that be fortune or bust. I’ll be at the AGM on the 5th September and it would be good to meet you. There’s a good group who chew things over post event at a local pub. Not all like minded but all good humoured

Good luck to you and all genuine investors, however long you’ve been a holder .

Hi Surfit.

I know your intentions are honourable but if I was a board member I’d ignore those questions because they’re loaded.

If mismanagement is decision making that turns out to be wrong, yep they’ve done that. But in the context of when those decisions were made, they may have been justifiable. Be careful what you allege as context is everything and hindsight is nowt.

Namibia licence announcements in the next month, I hope.

That’s right Fernan, and we still wait to hear what and to who licenses have been awarded by the Namibian government. That money was to pay for the bid to get substantially more than the no consideration 10% back in rights on the two blocks. 2714a and b.

NAMIBIA not Nigeria !!!

My apologies for the mistype.

Hi Fernan,

Are these questions you’re putting forward for Friday ?

If so, the Namibia one may be mistimed as no licence awards have been announced yet by the Nigerian government.

I think any finance needed to make the bid for the licences has already been spent. Now it’s a waiting game.

Fernan,

Good points. Be sure to put them to the board at the Q&A after the presentation on Friday. Maybe get them in early ?

Jt,

I hope the RNS is only a summary of the complex progress that’s been made in the areas of onshore/offshore Morocco, renewables and the Namibian prospect.

With a webcast later this week, I can understand the RNS being short on details. I think we’ll get that in person on Friday.

Over the last 30 days, HC has posted 16 times on CHAR and no other stock.

HC is not a shareholder but he is entitled to state a view. Just beware that his opinions are all negative and his motivation is that he wants to save us all from ourselves.

Put up a sandwich board in your local shopping centre Harry and try to save some other more deserving cases. We’re doing ok without you thanks.

Fernan,

HC is not a shareholder. He revealed this in February, so what is his motivation to post on here ?

Let him whistle Dixie from the sidelines all he wishes. In my opinion, his is worth diddly squat.

Jt2017,

I think Loukos first. Oiltdr did suggest that news was so close that the company were almost prohibited in saying anything at the last update - 23rd May.

Next will be Namibia, with the possibility of a big percentage licence award on both blocks, and, fingers crossed, an announcement of a major as a partner.

Next will be renewables. The legalise of either forming a newco or selling our share will take forever/ is taking forever in the hogtied bureaucracy of SA.

Next will be Anchois plans.

Then Christmas.

Lots to look forward to.

Morning Harry. Good to hear from you.

Don’t you remember the company update that came when the raise was announced ? Maybe not so I suggest you read what was provided.

Perhaps you expect a weekly summary of what’s been chewed over by the board. I think that’s unrealistic. News will break when there’s something to say.

On pay and remuneration, pulling us back from the brink will be taking more than blueberry muffins and chai latte. I hope and expect that the directors are working hard to build value in all elements of the company, and I’ve no gripe with them being paid to do so.

I hope the sun is shining on you, wherever you are. However, I expect it’s not to your liking, whatever the weather.

Thanks BSS, I think we have the message. You can take a break now.

Harry, not with a shallow free float of revenue it isn’t.

I think the board have timed their run to coincide with imminent news. Get back in now or you’ll be frozen out, doing some leisurely repenting and wistful navel gazing.

Apols - South Africa NOT Namibia

Gigo,

Thanks for the best wishes. I, like most LTH’ers I think, lost confidence in Zorbas with his share awards and what seemed like shady deals. Fair play to him if his long term plan was to sell up at a huge premium. I will happily eat my hat, sunny side up, when this comes good.

I do think that even us ultra LTH’ers will get our money back here. Even those needing a 100% plus uplift.

I’m pinching myself. GLA.

Harry,

Whatever it is, and I’m no judge, you do understand what the term ‘for nil consideration’ means don’t you ?

It’s called a ‘back in right.’

Don’t make it any more complicated than it is.

Marceen,

I think you may have posted this on the wrong board.

If not, I doubt many on here will be interested in the gist of your message. I’m sure some on here are also PRD holders but that’s where they’ll go to share thoughts and read fellow holder’s insights.

You are right about one thing - Jimmy is a valuable resource to both boards.

Jimmy,

May be best not to confuse Harry with facts and logic. His mind is made up - we are a basket case.

Wiggly,

Yes it is. And, to carry through on Harry’s predicable gloomy outlook, the Namibian authorities are as likely to find penniless minnow Chariot as appealing as the Moroccan government were when deciding if Chariot should get Anchois back.

Harry said it would never happen, based on the same lame logic. He was wrong once. Bet he’s wrong again. Let’s see shall we. Not long to go now.