Member Info for NewKOTB

Means nothing in real terms ... they probably closed out 0.1% short to drop below 0.5% reporting threshold, hence the 0.5% drop shown. There were 4 shorter's listed prior to today, now just 3 ..... can't remember the name of who dropped out.

Could someone give an estimate (best guess) of our current CoH and Debt as of now. TIA

If I recall, Serica paid ~$18boe for TW 2P's (would need to check back on my figures), no way near the $8-9 per barrel you quote, however CURRENT valuation (as in reflected in present day Mr Market's idea at given SP) is very different from ACQUISITION valuations of reserves. Think you are referencing CURRENT market valuation of 2P's, which is about right, not T/O valuations, think we may be a cross-wires. Although presently Mr Market is valuing some companies 2P's significantly lower, more akin to 2C's which just goes to show how ludicrous the situation is right now. Market is certainly struggling to value NS centric O&G plays since this farcical 'windfall tax' came about, for sure. atb

aimo & dyor

"On Serica’s recent merger with Tailwind, the Serica 2P reserves were valued at $6pbb....."

Think you need to re-visit your calculations on the TW deal.

Stevo12,

"As an example, the value of 2P reserves in the NS has reduced from approx $20 per barrel to $8-9 per barrel.."

Please give recent example of these 2P's reserves where valuations of £6-£7boe have been agreed. TIA

"Given that Chariot has secured a new onshore licence with all the commitments that brings this is a very canny raise indeed. The proceeds are earmarked for the new licence which has been awarded by ONHYM, with the agreement expected to be signed imminently, at no cost to Chariot, a true testimony to the strong relationship the company has there.

This licence is thought to be on the Lixus reservoir fairways and with the Anchois gas development infrastructure such as processing facilities and pipeline access immediately to hand couldn’t be better placed. Also the licence offers the Company exposure to near term, low cost drilling opportunities. Chariot plans to start a four well drilling programme as fast as possible, in order to deliver near term cash flows and value for shareholders.

At around $3m each the company will still have change from the raise and has intimated that it will use the rest for working capital in order to be able to negotiate the best possible farm-out terms for Anchois. With local lifting prices at some $16/mcf a gas sales contract will be eye watering and being onshore and near to near insatiable markets the prospects are hard to oppose economically.

Finally it is easy to get carried away after all these exciting prospects but it should be remembered that Anchois still hasn’t got its FID yet, I can only imagine that with so much hard work having been done this too is imminent.

I shan’t be changing my TP for Chariot, nor taking it from the bucket list, it still shows significant upwards potential and even only looking at the domestic gas business could make substantial growth dynamics, 100p is very much doable. "

So good you had to post it 3 times .....

Only 1h 45min remaining to be eligible for the Open Offer, either in or out !

aimo & dyor

KB,

"Could the same sentiment not have applied to our last placing in May last year at 18p?.."

Of course, but then you only need to see the progress we have made off the back of the last placing ..... deals take time, but eventually, it resolves itself one way or another. Don't forget, last placing was also off the back of the Ukraine invasion and super high gas prices due to macro environment, some maybe forgiven thinking a deal was imminent !!

https://www.lse.co.uk/rns/CHAR/

For me given all the KNOWN'S and UNKNOWN'S, something has to give this time around, you pays your money you take your chance.

aimo & dyor

No way will there be a full t/o ... more likely sale of LIXUS licence in entirety, although CHAR could retain ~5% full carry to production. Could be >2 years for first gas, whereas these new (yet to be awarded) licences could see cash flow in 12 months. Together with sale of our 75% licence AND long awaited revenue stream from new onshore interests would allow CHAR to move comfortably to the next, self sustaining level whilst SH could easily see ~40p/s special dividend from sale proceeds. Sale of our Lixus acreage WILL fully capitalise CHAR going forward, whist still retaining a working interest in Morocco at same time accelerate substantially our green interests.

As for book build and getting placing away in 14.5 hours, well you don't commit that type of cash ($16.1m) without having some firm idea (wink wink) of CHAR's imminent future direction.

Theses, 'yet to awarded' licences, why's and wherefore's intrigue me as clearly they are part of a bigger picture.

aimo & dyor

COMPLETED .....

https://www.lse.co.uk/rns/CHAR/result-of-oversubscribed-placing-and-subscription-qr61gdd0cswghtm.html

Truly staggering how this fiasco happens time and time again on AIM stocks.

aimo & dyor

For the life of me I can't see what the shorter's see as such an outstanding opportunity with shorting HBR, particularly from current position, plenty more, as I would call them, 'basket-cases' out their atm. Almost as if their algo's have taken over the asylum. Are HBR a test case for fully automated AI trading desk, feels like it sometimes as there is little logic to it all.

aimo & dyor

Also, "Until September there is no new news to prevent the usual summer drift.."

Past 3 years : 1st June until 1st Sept

2020 : 119p > 117p (down 1.5%)

2021 : 117p > 164p (up 40%)

2022 : 258p > 372p (up 44%)

So no evidence of USUAL summer drift.

aimo & dyor

Hummm. sudden interest and urgency in onshore, why not fully focus on getting Linux (Anchois Gas Development Project) over the line. OK, fund raise, but used for drilling on a licence we are yet to be awarded @$3m a pop !! Sounds like to me we are lining up the full sale (or at least full carry to production with ~5% retained) of Linux (Anchois Gas Development Project) and going after other fish. So in turn would suggest return of cash to shareholders via special dividend on completion of gas project sale, could easily be in region of ~40 to ~50p/s. Who knows when it comes to AIM stocks, not me for sure !! atb

aimo & dyor

So they place at just above year low on the grounds it "fundraise providing an improved financial position ahead of finalising negotiations..." Really, should of place at least to VWMA100 @ 16p/s if we are indeed "finalising negotiations" .... has to be mates rates, lots of opportunities to place above this pathetic 14p/s in recent weeks. We all know following placing 9/10 times the SP falls below at some point in the near future too.

aimo @ dyor

Guess whoever added £50k at >15p just half hour or so before close will not be too happy either.

So we are close to a deal with multiple parties involved, give us massive cash injection ... really FFS

Oh, unless we are of course and mates want in !!!

WELL THERE IT IS .... just what we expected !!! ffs

Maverick,

"Can’t see Mercuria defending the share price via buybacks.."

Understand where you are coming from, however the authorisation to carry out buybacks actually already been granted and indeed, actual number of shares increased via our AGM the other week. So, it's nothing to do with Mercuria per se, just the boards, 'our' boards decision ... they just need to grow a pair and show Mr Market they are not JUST A PUPPET board afaic....

aimo & dyor

Should SQZ not commit to commencing buybacks, even if it's only 5% of share capital out of the 10% authorised, god forbid, may even provide some support to our SP.

AIMO & DYOR