Member Info for MrJinx

So now you're spinning the fund raise as a way to 'stay as operator'? Like that's a good thing???? Larry stated the fund raise was to strengthen his hand in negotiations and farming out to a larger company (my words) is the preferred option. You can't now turn around as if farming out to smaller investors was the plan all along....and if Chariot recoup $15m on Namibia S, I'll shag Susan Boyle...without being drunk or stoned.

...two shits about the money lost or gained on any investment. My average on here was 8.7p and sold at 8.2p. Given the risk/reward ratio that's given on here, my loss is near negligible. So you can't throw the 'timing of investments' bull crap my way. Anyway, it's not like you're Gordon Gekko...lol! My gripe on Chariot is the near farcical management and running of the company. I could make a near endless list of the diabolical shenanigans that Larry and his bod have got up to and they're still there!

Not to be a pedant but it's 'incessant'. I do believe that if one wants to berate, one should be able to use spell-checker. :)

Marno..."Check the history yourself" :) do you really want people to look up and confirm 7 years of abject failure?

Also...if Chariot do go it alone in Namibia, a further fund raise WILL happen prior to the drill. It WILL be at less than 13p...

Lol...there is no value here. £30m mkt cap, no news on farm-outs for Namibia and looking likely to have no major or super-major support, the £25m cash which reduces monthly may now be needed to fully fund a drill, no news on Brazil which may be kicked into the long grass, no news on further ventures, bod's with a history of failure and misleading pi's...tell me, where's the value???

Someone is desperate to not let this fall below 8p. Since the duster, sells have outnumbered buys by at least 3:1. Hanging on by its ball hairs here!

Even before 'the biggest drill of the year' Chariots Mkt Cap only reached £55m. Then, as Gooner stated, Larry shat all over pi's. What makes anyone think it'll be any different, after the same old shit for the last five years???

It could possibly be a good place for fresh money, if everything progresses to plan with acceptable farm out conditions. However, and here's the kicker, nothing that comes out of Chariot can be taken as fact. Even worse, it's also what doesn't come out (...when it should) that can risk your money. Delays are very rarely good news here. Delays in Brazil, delays in farm out deals, delays in Mauritania yadda yadda yadda etc etc!!!

...this board has regressed back to 2015. :(

Then I'm shocked at your flights of fancy!

Yup, the newbie ignorance and arrogance. You can't tell 'em owt!!! Phoebus...20-25p into the autumn drill? What the feck have you been smoking? 25p would give Chariot a mkt cap of £80m. Did you not see the limit of the RD-1 drill? You say it was an 'hors d'oeuvre' but the unlocking potential was nearly 2bn barrels. And it still only managed 12p at TD. But great, you and E_B keep buying and see where you are this time next month.

But there in lies the issue. Because LB has proven himself to be less than honest a quite the spin-meister General when it comes to making shit out to be chocolate, there's nothing left but trying to decipher. There no plans to fund raise to drill prospect S. Of course there aren't but there may be plans to fund raise for a 'new venture', for example. It's starting to look like no major or super major is interested in what Chariot has to offer. That's really frightening. The fact that Chariot will be funding with a patchwork of investors. That may be a good outcome if all you want to do is turn the drill bit but from a pi position, it's a shocking outcome. Each entity will want their share of the spoils but in this case, we don't have 800m barrels to divi up. So Chariot could end up with only 25-30% (may be less) but still have all the operator issues. We also won't have the 'expertise' of a huge company to back us up.

Christ on a bike OT, that's the first time we've agreed on ANYTHING in maybe three years...I'm stunned!!! ;)

Should Larry decide on another placing at an optimistic 10p to raise £15m, that would increase the share count to 515m. At today's mkt cap, (so assuming another Namibian duster) that's the equivalent of only 5.8p per share. That's the level I would buy back in.

I'm still here Goon. Think there is money to be made by buying back in at the right entry point. But 8.5p??? At this moment in time, Chariot is as far away from being a £30m company as you could ever imagine. If it drops under 6p (that's the equivalent of 10p before the placing) I may buy back in. However, when you think the next placing will probably be around the 8-9p level, 6p may seem a bit too high. One thing is for sure, I won't ever put any faith in Bottomley again. This will only ever again, be a quick profit investment.

Something to bear in mind, placings are nearly ALWAYS lower than the one preceding it. I know it's an obvious thing to say but unles Larry finds 100m barrels of oil down the side of his sofa, investors will not pay 13p again.

Workover, if Larry gets up to his old tricks with his bluff and bluster, in the very short term I don't think it'll go lower than maybe 7.5ish. There's still far too many caught in the headlights here and hoping that things aren't as bad as they are. Give it two to three weeks without having progress on any other prospect, then these new investors will bail and the pressure on the sp will return. In its absolute worst case, I can realistically see 4.5-5p. If Larry fails on all fronts between now and New Year, and Namibia isn't drilled in Autumn, cash will be down to £15-18m and it'll be reserved for operating costs going forward. That will impact and we could see 3p. We've had an 8-9m mkt cap before, we could see it again. I should say, just to be measured, if Larry announces a Namibia farm-out and Brazil turns out to be astonishing, we'll see a bounce to 12p ish. Can't say I believe the terms of any deal would be very advantageous to Chariot. Not with Larrys negotiating skills. :) For the time being, I'm keeping my powder dry.

Chaz, why do you think I'm revelling in 'your' disappointment? I'm well *#cking disappointed myself. I didn't escape without a kick in the balls despite my low average. However, just because I sold, it doesn't mean I'm not free to critique my investment, the company and it's leadership. That being said, I have a buy back in target which takes into account the existing value destruction, the delays on the upcoming drill, the failure of achieving farm-outs and the price of a future fund raise which I see being 8-9p. So, I believe anyone buying at this level is crackers. Were you here before Chaz when we were trading at 75% of cash?

You try and make out you're the sage of investment strategy :))) However, even with your approach of selling before spud, you'd have been royally screwed here, because of the low level fund raise. Unless of course you're now going to claim psychic powers.