Member Info for Masterfly7

By way of comparison for T&T - Trinity deal has just completed in the last couple of weeks. Sold to a local producer, sale price was £26m for C 2,500 BOPD.

Must have missed the oil RNS for Morocco.. perhaps that’s after helium.

Dr Tingas is almost 75, think he has retired.

25% + on nothing specific is quite a drop. Oil is down but…

Any specific reason for the drop today?

Ireland interesting article:

https://oilprice.com/Energy/Energy-General/AIs-Insatiable-Appetite-for-Energy-Threatens-Irelands-Grid.html

F&M - I don’t anticipate any news from T&T until the new year

For Predator Oil & Gas Trinidad Ltd. where production revenues from its wholly Trinidad owned subsidiary, T-Rex Resources (Trinidad) Limited ('TRex') are forecast to be generated in the early part of 2025 following a program of well workovers underway in H2 2024.

Energean results on 28th. Believe they will provide clarity on the withdrawal at that point. Suspect we will get an RNS from Chariot on the same day if not before. One would hope this also includes details of a very significant cost reduction exercise across the whole company. Value destruction here has been huge. Chariot helpfully provides charts on their investor tab to show quite how horrific the performance has been.

Time for more share options

Suspect you have 20+ years on me Bob

Keith,

Would it not be possible to go from Algeria by ferry to Spain and then on to Morocco? Solutions are there rather than ‘out of the Company's control’ line. The constant delays and excuses don’t sit well I’m afraid.

Perhaps if the relationship with the Moroccan royal family and ONHYM was as strong as some suggest the unit would be available in country yesterday…

Do we not think Algeria a neighbouring country and the 7th largest natural gas producer in the world might have a few swabbing units…. Smoke and mirrors.

No suggestion Trinidad has failed but the execution has been poor. Trinadad is super difficult to get right look at Trin (workovers, workovers, workovers) or CEG. Sandjet was initially presented for T then wax treatments. No timescales have been met. Lets see the results and then the decline rates.

Morocco - Conventional perforating guns failed MOU 1,3 & 4. Sandjet delayed three times, finally tested over a year behind initial schedule. Results at best suggest disappointment. Swabbing unit, if it was that critical, I am sure one could be imported without vast cost. Afterall PG wanted to source a rig and entire team out of country for drilling when timescales slipped… MOU 5 – great 12 % risking by Scorpion Geoscience (website coming soon…)

Ireland – great a binary play to be determined by politics. Would be fantastic if it happened but beyond the companies control.

I invested because I was positive, but comms and continued disappointment have turned my outlook negative. I continue to hold a much smaller tranche and hope for the best. My posts are negative because I hope that if enough shareholders express disappointment it will force the company to make changes. One could argue this has happened with the appointment of Zenith.

Trinidad was supposed to provide significant positive cash flow by H2 2024. Yet another failed project delivery. The list is ever growing but at least we have hydrogen to look forward to…

How long do we estimate Chariot have until the funds from the last raise are fully exhausted? Lack of update/news on any front is incredibly poor form.

PARETO, its £ not $!!

Malcy:

Hunting, as I said yesterday altered guidance recently claiming, like the others that the US onshore patch had been hit by lower oil and gas prices and remained subdued hitting both the Titan and perforating systems divisions.

But the company has a very strong balance sheet with a huge order book of some $652m and a very high margin international business which continues to grow and accordingly I feel that the hit that the share price took was overdone, as it often is in this under appreciated stock and should have a minimum of a 50% bounce from these levels.

Just done the sums and looks like it’s £255m + gulp..

Does anyone know the total amount Chariot have raised since IPO in 2008?

Tax losses are the only thing Chariot are good for