Member Info for marineclark

Saint-tropez, is the upcoming drill a appraisal or development well? if its an appraisal 95% COS seems very high, I was expecting it lower maybe i the region of 70 percent? The almost guaranteed COS quoted has the figures of development well. I just bought in yesterday after a small pullback, and still catching up with the details here.

I'm not just in here for the drill, here for the results too.

As for why I think the price will rise towards appraisal spud, I've seen it many times before with other AIM oil and gas companies. The reason why the price has come back is because of profit taking from those who bought at suport, but also there is still a supply overhang from those who bought mugh higher, people like yourselves. Eventually, supply will thin out though , and thats this will go higher. But as I said, I'm in as long as support holds. otherwise its adios.

We just came out of a bear market MRC. Wrong time to be selling IMO. In the UK and other vacinated countries, its back to buisness as usual almost. Yes, there is going to be some worries about new variants, and that was the case a number of times recently, but its unlikely to return to a full lockdown when this all began. The FTSE is a few hundred points away from pre-covid highs. I wouldnt be selling any of my shares just yet. But I agree, that PMG is a good one to stay in. Game changing news could come at any moment with a material rerating to follow.

THis price level is a region of strong support technically. The price has bounced strongly of this level many times . I would have topped up here if I had more funds to invest. Shares dont go up in a straight line though, especially this one. Having said, that if support does break, I'm out. This time last year, the price was 1.6p. While, its not impossible that it could go back there, with the low risk appraisal drill soon, I would be shocked and in joy, as that was the price I bought at last year and sold at 10p. Whats a few months for you long termers?

Price is near support so I would be suprised is selling continues much more. Today wasnt the best of days, what with the fed news, but it will bounce back again soon enough as it has almost everytime since the bear market drop. Don't mind alternate views. My bet is that it will rise significantly as spud nears. If it doesnt, a few months of time lossed is not a big deal for me. It depends when you got in though I guess, I have a small loss at the moment, but within my stop loss. For those who bought before the placement, it cant be pleasant.

"Chariot appoints drilling manager for planned gas appraisal well offshore Morocco". A month old now but in case you missed.

https://www.proactiveinvestors.co.uk/companies/news/953882/chariot-appoints-drilling-manager-for-planned-gas-appraisal-well-offshore-morocco-953882.html

Lot of rambles, so you are in good company Gooner. Shares can takes ages to move so posting here does help with the boredom somewhat. The short term price movements shouldnt matter as much to longer termers holding till gas sales if thats your plan. No doubt, a few will sell some or all before spud, but I do actually think most will hold. The risk is low after all.

Any news from our friends the telegram group? Had 90+ members the last time I checked?

Gooner, just noticed your 4000 posts. And most on Char. You must be a big fan:)

Its a tough one SC, I agree. The risk reward here is pretty damn good. If things play out as expected the price will be many muitples of current price. However, I forget sometimes that not everyone is a trader is like myself, but long term investors, and for me, taking profit regularly is what I do so my plan, as stated, is to wait for the share price to double when we reach mid drill, and sell half, free loading the rest into results. Thats because I need the funds mainly so i have to take some profit from time to time. But there are many other viable strategies to use here, all coming with its own risk reward profiles.

4 million shares traded and still more trading till close. That gives me confidence that the bottom has been found here, when demand is greater than supply and supported by large volumes. I couldnt believe my luck this morning.

Better to to buying at the bottom not selling. best time to derisk is mid appraisal drill.

What are the chances appraisal drill findsing 2TCF or 3TCF of gas or ? I know this might not satisfy DANA's buttyhole, but for CHAR that would be quite the find.

The figures are "estimated 361bn cubic feet (bcf) of 2C contingent recoverable resources, and 690bcf of 2U prospective resources." What this means for Char is a multibagger(5 to ten bagger fro here) if the low risk appraisal is successful. For multibillion large caps, the result would add a few pennies at best to the share price. So I have zero interest in the reason for Dana or Repsol, or Timbuctoo lost interest in the Achois. May Dana had a fart the gas went away.

Yes, we all know Appraisal drills is not nil risk. we can speculate all day the risks, and the risk are between the risks of a exploration well and a developement well. But appraisal drills are considered low risk.

I would suggest considering a derisking strategy as Sharholderchar has said and myself. That is, sell some before dril results, if you cant afford to lose - if yo can t afford to lose you shouldnt be investing here anyway, let alone Aim oil and gas shares.

"An appraisal is a valuation of property, such as real estate, a business, collectible, or an antique, by the estimate of an authorized person."

"Prior to the drilling of a development well, oil and gas companies usually drill appraisal and exploration wells. Appraisal wells are drilled only when a discovery is made, with the motive of assessing the size and viability of the reservoir. Drilling techniques vary widely."

I'm in. 130p target. MIght take a few months, but that kind of return is hard to refuse.

https://images.app.goo.gl/qBUcSKUzEUxi8g4g9

Cup and handle pattern, a bullish signal, almost complete. Currently in handle part of the pattern, and once we break out of that to the upside, we are looking at next leg up which will take us back to recent high of 8p and easily beyond. With rig contract news imminent and spud following shortly thereafter, this should be a catalyst for price strength going forward. make no mistake, the risk is not nil. But I'm willing to take on a low risk appraisal drill for a multibagger reward. DYOR.

Cairn energy(900 MC), and Tullow oil(650 million MC), may be the better investment if AIM oil and gas Char isnt your cup of tea. Buying in AIM shares and believing the risk is nil is quite the irony.

The chance of success of a wildcat drill(exploration) these days is 30 percent. I would expect a low risk appraisal drill to be muc higher, as a 50 percent risk is not what I consider low risk. Im guessing around 70/80 percent chance of success?

In any case, I'm selling before results anyway, half, and then free rolling the rest for the results day.