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R3 Intervention Project is well over schedule and costing, as such questions need to answered, least of all how a 70 day project designed by Exceed Energy is now in its 166th day and counting !!!

RNS:
12/10/20 - "Operations are planned to last approximately 70 days"
15/12/20 - "As a result, rig operations will not be completed before late January 2021"
21/1/21 - "As a result, R3 operations are now expected to continue into March 2021"

NB Only 4 days left in March so update RNS is required !!

Starting to think it would of been quicker and cheaper to drill R3/B

aimo & dyor

Yep, 38.5% up in last 20 minutes of trading ..... well, well ....

Well, they were determined to drop her hard today .... regardless of the fact gas price is virtually unchanged. Pushed her down hard into the close. Top-up time once more tomorrow !!

The key is about transition .... gas is a great transitional energy compared to oil. Wind, solar and hydrogen ( for which you need gas of course) market will continue to grow ... So in my book, it's all about the market .... are CHAR able to market their product, in this case, gas. Others in Morocco have over the last few years found difficulties to obtaining that market. Morocco offers fabulous terms in respect of fixed prices and tax holidays ... but we need to ensure supplemental and diverse income too.

Really happy with the latest RNS and once the AEMP deal is completed, our investors update, will, I hope spell out in no mean way CHAR's true direction and value enhancing projects and opportunities open to us as touched on the the RNS .... " over the coming period we will continue to look for other energy transition ventures which will further complement and build upon the high value projects we are currently looking to fast-track..."

OMG, these are, imo the most exciting times in CHAR checkered history.

aimo & dyor

SM84,

For a small company like CHAR, being nimble and able to alter its strategy is like gold in these times. You don't need to be anywhere near first mover, you just need to be able to see the sea change and adapt, that's exactly where this latest RNS came from .... some, as you say, will find it hard to see the connection, but they will. As they say, you don't want to be stuck on a sandbank when the tide goes out without your trunks. Being left as one of the exposed pure O&G plays on the sandbank is not in CHAR game plan afaic and neither should it be !!!

aimo & dyor

Looks like, more of the 'gang' have just this second turned up to vote up, BS's BS .....

Probably additional newly created ( today ), avatars to vote each other up and then to post in numbers... So ‘Keep ’em peeled!’

All part of their little games ... don't worry, when they have has their fill, be no stopping them from rampaging ramping.... :-)

aimo

Looks like, more of the 'gang' have just this second turned up to vote up, BS's BS .....

Probably additional newly created ( today ), avatars to vote each other up and then to post in numbers... So ‘Keep ’em peeled!’

All part of their little games ... don't worry, when they have has their fill, be no stopping them from rampaging ramping.... :-)

aimo

Avatar number 3 in 3 days .... trying to be more subtle this time around by the look of it ... his boss is clearly not happy with lack of de-ramping progress ... he may of even been replaced with a more skilled poster under this new avatar... lol

aimo

"Isn't it just a price determined by the pre-open auction?.."

It is indeed, but then ask yourself, how is it actually determined, who loads the book for the auction. Auctions are a dark art afaic and above my pay-grade how the algo's works, however, easy to get 'false' green candles if you want them and position the SP to start the day off aimo.

We had a small technical bounce yesterday off support, todays open ensured we opened below that support. Make of that what you will.

amio & dyor

jasehem,

"FWIW I have never traded any share in SQZ...." ..... hummm

Although you stated the other day ...

"I have been out with the majority of my cash since the spike a few weeks back, will go in with some at 1.09 and the rest if it hits 103. Under a quid a I will really load up.."

As upomega rightly mentions, "dark forces at play here.." afaic, spivs are not far behind.

Oh, btw, it always concerns me when a poster agrees with our presently absent 'friend' NI.

You only need to look at the closing price then watch the opening price for the following day .... day after day, week after week, month after month, the following days open is LOWER than the close of the previous day in close to 100% of the sessions.

aimo & dyor

upomega,

Its the same point he has been banging on about for years now .... valid or not, traders have their own agenda that seldom aligns to LTH.

AIMO

jasehem,

Over the 3 years, on and off you have been posting on SQZ, I have yet to read an up-beat, positive post from yourself.

Just an observation.

Upomega,

R3 Intervention well, ".....Rig operations are planned to last approximately 70 days...."we are now on day 163 ..... oh boy!!

As you elude too, not looking good for Exceed Energy who we have also engaged to do North Eigg HPHT well planning on block 3/24c, the same company we used for R3 and soon to be drilled, Columbus. The main guy at Exceed who's behind this has the motto and reputation for "getting things done" ..... maybe time to have his reputation reviewed !

Unless the delay, is as designed !

As for Dallas, don't get me reminiscing .... Victoria Principal (aka Pam Ewing) ... woww,

aimo & dyor

New avatar today, same MO, same Rodney....

CHAR are awaiting serious game changing RNS events .... that will move us towards that x10

aimo

"Maybe an unofficial enquiry was made and we were not told about it...."

Or AA's RRE deal was based on leaving SQZ well alone, Via RO !! That aside, KIST acquisition of Tulip would of needed another >€300m on top of the €220M+€163M earn outs AA paid Tulip, for SQZ to even consider AA approach.

Lot bigger sharks than KIST to worry about ...

aimo & dyor

For the 'hard of reading', CHAR could not have made its ambitions clearer imo with their statement:

"Post completion of the acquisition, the enlarged group plans to formally change its name from Chariot Oil & Gas Limited to Chariot Limited under the tagline of "Chariot Transitional Energy"..... pity 'Chariot Energy' is already in existence !!

CHAR are beginning their metamorphosis, but rightly, this needs to be successfully communicated to the wider market .... once done, investors will follow.

PS. See our friendly 1p de-ramper from yesterday that was banned, now today, resurfaced under yet another new account. Clear indication that big funds want in ...

aimo & dyor

Interesting read .... points to note :

"Those ambitious plans are supported by local governmental engagement coupled with favourable policies to expand the renewable energy sector"....
"Morocco is one of the most advanced countries in successfully planning and executing its renewable energy strategies.."

https://www.zawya.com/mena/en/projects/story/PROJECTS_Morocco_aims_for_100_renewable_energy_sufficiency-ZAWYA20210121074012/

All eyes will now be on official release of our strategy going forward, REVISED Business Model and Vision Statement within our next update .... although this was already touched on in the RNS "Strategic partnership with Total Eren, a global renewable IPP to develop low-risk mining power projects in Africa..." We also now have expertise onboard too in the form of AEMP's team.

There is certainly scope for CHAR to be an active player in Morocco's energy transition, that is certainly not restricted to mines !

https://thediggings.com/mar

Interesting year ahead imo, very interesting.

aimo & dyor

Bardobeat,

Excellent and enjoyable post .... appears we are both looking through the same telescope and are able to see beyond the immediate horizon. I absolutely back CHAR 100% in this quite brave and some may say, maverick move to reposition the company. I like the way calculated risk is being deployed, with the promise of fast 'n' furious RNS's too. I can see an expansion of these style clean deals over times and like you see where CHAR want to venture and how CHAR want to 'present' the company .... image is becoming more valuable in these times of sustainability and renewable energy. CHAR have now set sail and are on course for a great future that ultimately will see us dock in some plush marina and be handed over to our new owner in exchange for a sizable pot of gold.

Its been a long, long time since I felt this confident of our future ... fingers crossed, CHAR can deliver for all this time around.

PS. With new ISA time around the corner, it would be foolish not to consider CHAR within the allowance.

aimo & dyor

mitegap,

I should add, gone are the days of CHAR Namibian elephant hunting mindset, now more of a connoisseur of collectibles in the clean energy and gas market.

Would not surprise me at all for us to do a deal to sell-off our Namibia and Brazilian licences, or at the very least do a favorable deal and retain a free carry plus cash consideration at some point, as we re-focus the company built around our Moroccan assets.

aimo & dyor

mitegap,

In essence, CHAR are re-positioning themselves into an Energy Company and moving away from the pure hydrocarbon play of yesteryear. Using the leverage of off-shore Morocco clean energy gas (which is to be fast-tracked) to 'entice' more eco-energy players under our brand .... to what end I hear you say. Well, imo, to make us utterly irresistible to bigger players in the 'new energy' market and hence sold off in 3-4 years imo for a considerable sum. That would be my strategy and I'm convince after today's RNS that's our BoD's too.

aimo & dyor