Member Info for Legalwolf

You will have your battle your psychology. I've been there before where you don't exit whilst at breakeven or profit, and then when you get into red and it's too late, it becomes even more difficult to exit, as you then end up wanting, wishing, willing and waiting to get back into blue! Well at least I do.

Hearing folk lose six figure sums on Char, and reminded that the worst losses and stories on AIM always seem to come with O&G drills. Definitely the highest of the high risk situations on AIM. They can really put a big hole in your PF in an instant. Thankfully I only had a smallish position in Char, but still shouldn't have risked it and broken one of my rules.

There are still plenty of (large) sells going through. It will take time for a lot of the LTH/larger money to exit this, so not expecting a quick bounce or indeed any bounce until at least Char/ENOG come out with some forward looking statements.

I wonder what the largest external shareholders like AA will do now?

KR - you should proceed on the basis that the most likely outcome of the MATD drills is dusters, unless anyone is prepared to argue that the COS is above 50% for either drill. So it's simply a case of whether good news is likely on Heron 1, but they are running out of time to get that well producing before the November winter shutdown. So before then you need 1) permit, 2) PCA deal and 3) assuming they get them, then confirmation they will in fact produce the well in 2024.

How confident do you feel about landing all three of these in the coming weeks? If less than 50%, then that's not good enough imho.

Does demonstrate though that you hold shares through an AIM O&G drill at your peril, regardless of what these AIM companies tell you or report to you beforehand about the COS.

A lesson to be applied to MATD? If these drills are not successful, expect a 50% drop because that seems to be the going rate. And MATD has two of them to report!

I'm not in you morons and so you can stop the amateurish and pathetically incorrect digs. I've lost money here like everybody else (albeit not a large amount) and am trying to be positive as possible for other holders who might have lost substantial amounts.

Any interest that I had in buying more Char evaporated on reading the RNS. I'm not interested in bounces to 2p, which is basically revenge trading, so not currently interested in Char. Really can't see myself touching this again but not going to rule it out completely, the BOD have little credibility left, don't communicate well or often enough, burn rate is to high, will they now test Loukos, will the market care enough even if they do?, will there now be a long winter here with little to lift the share price, etc etc

There you go, enough evidence that I'm not in?

Char's BOD aren't the best when it comes to comms - often you can wait months. But now is not the time for them to hide away. It's important to come out early and restore some hope (or is it hype?).

If they announced that a TP transaction was close, would that not make a difference?

Just need to get the drill bit turning in October and it should signal the beginning of some positive newsflow for CMET!

Another set of encouraging results at Hillside. More Prospects to be drilled. "Our goal will be to define a maiden minable gold resource at Hillside that Kavango can bring into production in H1 2025."

Couldn't have timed it better to coincide with likely next move up in price of gold. Decent gold play emerging here.

Need to give a it a few weeks to let the dust settle and see what BOD come up with about forward plans. Days like today are perhaps not the best to make rational assessments.

Lots of holders here stuck with Char, and for those that remain, let's hope there are indeed better days ahead. GLA

Could be a good recovery play in the future, because they have other decent projects, and will be going for oil in Namibia, but have to give is a few weeks/months to see what the BOD come up with.

How does any JV partner make decisions without crucial flow test data - why didn't Char flow test as it had the cash to do so, or indeed ENOG if they might still be interested in a future smaller scale development.

Is ENOG's decision not to flow test indicative that it has pretty much walked away.

Last week was vague and also mid drill. This week's news confirmed that all of the upside prospects were water wet, but the biggie was that ENOG didn't bother flow testing.

Char is also a very expensive outfit with a high burn rate.

We need an updated view. That was before they finished drilling?

This bb is for legitimate questions and not dweebs who can’t the pressure.

If ENOG might still be interested in Anchois then why didn’t they flow test? I thought that was the most important part?

How are they meant to make future decisions without flow test data for Anchois?

Does the decision not to do so suggest that they are walking away completely?

Why didn’t they flow test?

Oh shut up and go away the bold. You attacked others for legitimate questions. I wanted this to be successful and indeed was wanting to buy but was genuinely very concerned and unsure about doing so. I and others tried to raise what has now turned out to be factual and the truth and you tried to censor by going on some egotistical attack and now look like a complete narcissistic muppet who couldn’t handle legitimate bb discussion because it wasn’t what you wanted.

I guess much depends now on whether this is going to stop Char from proceeding with Loukos and other operational activity as they clearly now need to preserve cash.

Look forward to hearing what the bold has to say today. What an absolute idiot for attacking genuine questions that arose.

Obviously very sorry for all holders here.

How did Char end up with very different results?

I’m not trying to create FUD. Genuinely a bit troubled by the issue and was responding to zahra and surety. If others state that the volume comment was made in respect of the footwall prospect as well then I don’t take issue with that. Hopefully it will become clearer soon enough

The question is whether or not the B sands have come in lower than expected and that’s what ENOG/Char were referring to and has caused the share price to take a hit. It would be great if this could be definitely cleared up in a way that leaves no room for debate or doubt.

It’s no big issue losing the upside prospect. But if the core plays come in under then that’s a different issue all together.