Member Info for MrJinx

Glib statements don’t make you correct. I made statements that were appropriate to an informal chat board. You do realise this is a chat board, don’t you? And as for your ‘my chats with the company’, well we found out the quality of those post fund raise, didn’t we???
This board has seen many similar posters such as you, with different avatars but with the same unwillingness to critique. Most end up losing their money, and that if their friends and family, such is their obsession to be proven right.
Good luck to you fella.

“I will be adding more...”
Why do people feel the need to write this stuff? You find at least one on most chat boards. It’s like they think that if they include that, it somehow solidifies their argument in some way. It doesn’t, it makes you look desperate.

Anyway, from H1 2019 results;

“Low Risk Production Opportunity Secured:



·; Award of near-term development opportunity, Lixus Offshore Licence, Morocco:

o Anchois-1 well gas discovery and satellites offer near-term development opportunity.

o Deeper prospect offers additional prospective resource potential.

o Material additional on-block exploration running room in licence.



·; Competent Persons Report ("CPR") on the Anchois Discovery complete:

o Total remaining recoverable resource to be in excess of 1 Tcf for Anchois and its satellite prospects (comprising 2C contingent resources and 2U prospective resources).

o Anchois North confirmed as the low risk priority satellite with 308 Bcf of 2U prospective resources and probability of geologic success of 43%.

o Additional on-block prospects with a total remaining recoverable resource in excess of 1.2 Tcf audited 2U prospective resources.
Within three months of acquiring Lixus the team has re-evaluated significant quantities of 3D seismic and well data, had an independent third party Competent Person's Report on the recoverable resources identified within Anchois and its satellite prospects, commissioned an independent analysis on the technical feasibility of an Anchois development and a detailed analysis of the Moroccan gas market to confirm the commercial potential of the project and, based on the affirmations from these reports, initiated a data room to secure partners to progress the development. In addition, in order to facilitate timely appraisal operations, the appropriate drilling EIA's have been initiated.”

Key words ‘progress, develop, appraisal operations, recoverable resources and of course 2C resources which by definition are ‘The Company's technically recoverable resources for its discovered but uncommercialised gas fields’
So, have a chew on that and tell me the first plan by Chariot was to drill to confirm discovery. I’m not saying your wrong SH in saying it’s common sense to drill to confirm discovery. What I’m saying is the Chariot board were wrong to parcel Lixus up as an oven ready field just waiting for someone to connect it to a pipeline. Everything seems to have been done back to front. Why on earth complete a commercial feasibility study if there wasn’t confidence in the discovery??? You’re deluding yourself if you think the company had planned this from the outset of being awarded Lixus. It also explains why there have been no takers to a farm-in.
AIMVHO (just for you SHC)

That’s what they think it’s going to be worth 12mths from now ;)

Lols... :D

Who’da thought you were such a wordsmith, Goon :D)
Seriously though, “NO”.... :’(

Lol...that would be enough to get me to sell, Goon. :D
Neves on the other hand, is staying put!!!!!!

If the sp drops below 5p before 21st June, I’d hate to be one of those handing over their cash.

Belisce6....it’s an absolute **** show. It’s not a massive part of the fund raise but they couldn’t even sell that much. If you absorb what the RNS actually states it tells you; A) They couldnt even get existing punters to buy their allocation of shares, b) The existing punters that did take the majority of the allocation are few, not many, C) The company has even had to contact some of these punters to seek guarantees that the cash will be received.
Honestly, you couldn’t make it up. Bet they’re wishing they’d offered 1:2 now ;0)

So, did he purchase the shares on the open market or are they new shares?

Do you not get 17.5p from 2bn shares, with an mcap of £350m?

That doesn’t surprise me. My brain was having a serious wobble this morning

...and now I’ve posted the same message twice...it’s going to be a loooong day.

It s actually 17p per share :D D’oh!!! :D
It’s my first day back at work and it’s still early

Lol...got my sums the wrong way round. It’s actually 17p...hahaa:D it’s my first day back at work :D

The large institutions give a company stability but it’s pi’s that give it growth. If I wasn’t already invested from way back to when we ‘only’ had 400m shares in issue, I’d probably not bother. Getting close to a billion shares and that’s without the outstanding warrants and any increase for mine development. Unless someone pulls a rabbit out of the hat soon, this could increase to 2bn shares with an mcap of £350M which equates to....? Yep, 5.71p per share.
I’m not even a financial whizz but even I can see the negative possibilities for holding long term.

Do you not know how warrants work?

A word to the wise my friend, never ever ever never, put any trust in what another poster on here states. It’s not SHC in particular, just no-one.

That will always be the million dollar question. To suggest in the mid noughties oil and gas exploration was somehow in the technological dark ages is absolutely preposterous. It was discovered and deemed not commercially viable. I get seismic mapping has improved but that doesn’t magically turn non commercial discoveries into super gushers.

@Professional; ...but how real, is ‘real’? No third party validation, Total binned it off 14 years ago, no farm in partner, a fund raise for an appraisal well to ‘confirm discovery’, not increase in the resource, ‘DISCOVERY’! So there must be doubts in the veracity of the existing data. If it was just to firm up existing data, I doubt they’d be spunking $14m on it.
It’s just all of a sudden become extremely trixy.

What I find most annoying, is that I probably still won’t sell my meagre stake. Chariot is like that hot chick that your mate used to go out with that kept cheating on him. No matter how many times it happened, he still couldn’t bring himself to dump her.