Member Info for Oiltdr

All shall be well. Worry not.

At this point he would have to be very very careful how much he says about onshore

I’ll be pleasantly surprised if there is!!

Surety

I’d be surprised if there was significant cash in the subsidiary. Just because a loan was capitalised this doesn’t equate to cash. Enog will have transfer priced a management charge within that loan balance for all the man time and hours spent by their people. This doesn’t mean cash was transferred.

Potter

Enog shave made their intentions clear since late November. If you think the board sat around for 7 months whilst a formality was executed you are mistaken and will be proven to be so.

2.5m is allocated to renewables to secure their stake in the projects prior to Demerger.

There’s a reason they only need 1.5m for general working capital.

There is plenty of interest in Anchois but the challenge is finding a deal structure that doesn’t delay development significantly as clearly flow test data is required.

Shareholders would be foolish to think that Chariot is only just starting to look at ENOG alternatives. Their departure was clear late last year and they have been operating on that assumption since then.

Note the low amount of working capital they have raised.

For what it’s worth I’m aware of two funds acquiring stock in the last two weeks. This has no doubt helped the share price. Good week.

There are plenty of funding possibilities/partners. I don’t see the answer being project finance with a bank for what it’s worth as banks have tighter lending criteria in the age of anti- hydrocarbons.

On a separate note, if this board degenerates the same way as Sunda energy (have no idea why someone has randomly attacked a top poster like Jimmy out of nowhere) then I will do what I’ve done with the Sunda Wnergy board and never post again!

Starbanker

The issue is there are so many blockers to investing in companies now. Even investing in natural gas will be a huge prohibitor for a number of funds acquiring shares in chariot and hence making it difficult for any value unlocked to be represented in the share price.

Conversely traditional E&P investors don’t understand the renewables business band find it opaque.

The Demerger makes sense from a number of perspectives.

WHEN a deal is announced to progress anchois discovered resources to appraisal and development the share price on the gas side will unwind significantly. Coupled with the value release from renewables the future is potentially very bright but it’s jam tomorrow until it’s not. This isn’t an easy business to be in and the board are doing the right thing with this Demerger as it makes attracting investment for each business far easier

They have a list of high graded opportunities and all of the near term ones are in Malaysia. I am happy with this for now. As I’ve said before they have one particularly attractive one they’re loooking at.

They have been working on anchois and onshore for over 8 months and I understand they are advanced

There’s no cash from Enog- that’s a red herring.

But there is a reason why the raise is so smalll

Will increase to 9.6 upon onshore deal

Bit of a nothing announcement

It’s a no lose situation - if it falls shareholders win. If it rises shareholders win (to a point)

This is the point wiggly. It’s also a tell tail sign there are a lot of retail investors here. New equity is not bad or dilutive if it creates value per share above and beyond the pro rata equity issued. 2.5m is going towards the renewables business and having discussed with the BOD (I was taken inside pre yesterday) I am very comfortable that that capital is being spent well. It’s a shame it’s at this price but there is going to be a very very significant release of value here

That’s not how a Demerger works - the point is on a value adjusted basis the value of your combined holding will be significantly greater than your current holding

To be clear irrespective of market action on Monday I am certain I will have 200-250pc of current value between the two companies and that is being conservative.

Buying at current level is a straight call option on that value unlock when Demerger entity is listed. Best opportunity to close paper loss value in near term.