RE: NOT JIMMY 😀9 Apr 2026 10:21
IJWT as you and several others appear to have a complete downer on Predator might I suggest you sell up and buy into Chariot, another player in Morocco who are currently trading at an all time low – I’m sure Titanasaurus formerly Thebold can advise.
Chariot founded over 18 years ago has delivered a long and volatile journey for investors. The company spent its first decade focused on frontier offshore exploration in Namibia, Brazil and Morocco, but despite several high‑profile drilling campaigns, it made no commercial oil discoveries.
Energean drilled the Anchois‑3 appraisal well and confirmed there was gas present, but the volumes were significantly lower than expected and some deeper targets were water‑bearing. Because the results didn’t add enough commercial reserves to justify a full offshore development, Energean concluded the project was not economically viable for them and withdrew from Morocco, handing their entire stake back to Chariot.
As repeated exploration failures eroded value, the company pivoted into “transitional energy”, launching solar and power projects across Africa, including large industrial PPAs. More recently, Chariot has shifted again, moving away from high‑risk wildcatting toward buying into existing discoveries and production, including interests in Angolan oil production and further development of the Moroccan gas portfolio.
For shareholders, the long‑term performance has been difficult. The share price has declined from historic highs in the tens or even hundreds of pence to today’s low‑single‑penny range, driven largely by continuous dilution. The share count has expanded to nearly 3 billion shares, with repeated placings funding drilling, solar projects and acquisitions. Despite strategic reinventions, long‑term investors have faced significant capital loss, with the company now relying on Anchois and new acquisitions to try and rebuild any value.
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