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ENOG is a Greek founded company listed in London and Tel Aviv. It's not an Israeli co
Hi - would someone mind resending me the Telegram link please. Perspicacity24 @ outlook . com Many thanks. All the best P
Thanks Jimmy
That's a pretty big upgrade vs your earlier thinking if I am following correctly. I think you said you were anticipating c.900 bcf total before vs 1350 to 1450 bcf now if I added correctly? What's the main driver of the upside giving you increased confidence if you dont mind me asking?
Simple (and I know in reality its not) extrapolation of NPV of 900 for 361bcf @ 1450 bcf is 3 6bn That would be life changing if it made its way into the share price!
All the best
P
The footnotes on p7 of the new presentation show that the anchois resources are pre-anchois 2 and the footnotes to the resource estimate on p21 says its from NSAI audited numbers from 2019 and 2020. They seem to be quite keen not to give the game away on post anchois 2 resource estimates (unless I'm missing something?). So I'm hopeful for upside on CPR.
All the best
P
I may be wrong on this so dont shoot me if so, but I am looking at it as follows:
Today's increase of roughly 350 bcf gas
350bcf of gas conservatively valued at £1.5bn fcf
Market reaction to today's news +2p give or take
2p roughly equal to £16m
= Roughly a 99% discount to the value of the additional gas (and presumably not much in the way of incremental cost)
All a bit mad. Just don't think the market can quite do the maths. Almost as if it is too big to be true. But when it does....
Wow is right.
All the best
P
Thanks Jimmy - yes I remember to my significant cost the impact of the volcanics when Chariot first drilled the Northern blocks back in the day.
All the best
P
Hi Jimmy - Impact's Namibia block appear to be south of the Kudu gas field whereas Chariot's remaining blocks are further north I think - Central blocks. Do you have any sense of how contiguous the geology is between Impact's block and Chariots - i.e. does a discovery by Impact de-risk Chariot's blocks (and blocks in between) or is the basin different? Just trying to get a sense of what a 'strike' by Impact could actually mean for Chariot.
Many thanks and all the best
P
We already have a strategic partnership MOU with an 'international energy group' - true it doesn't say supermajor but we're not starting from zero and we appear to be far from going it alone as the framework is in place - presumably now need to apply the framework to the drilling results and negotiate definitive agreements.
"Chariot (AIM: CHAR), the Africa focused transitional energy company, is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with a leading international energy group (the "Parties"). The MOU relates to the key terms of gas offtake and partnering between the Parties in respect of the Anchois Gas Development within the Lixus licence, offshore Morocco.
The key terms of the future gas sales agreements will be for c.40 mmscf/d, for up to 20 years on a take or pay principle, to underpin the development. In addition, an agreed framework process has commenced to establish a long-term partnership. The Parties will progress discussions with the view to signing final agreements to implement the Anchois Gas Development with targeted Final Investment Decision ("FID") in 2022 and first gas in 2024."
All the best
P
Anyone subscribe to this? Something different to the myriad rehashes of the RNS. But behind a payeall.
https://www.africaintelligence.com/north-africa_business/2022/01/17/as-chariot-finds-gas-offshore-larache-younes-maamar-guides-it-in-rabat,109716907-art
All the best
P
Someone was asking yesterday about how the 100m of net pay broke down. This is from ONHYM:
The office added that the preliminary evaluation of the data confirms that “there is an accumulation of gas at the level of the Anchois-2 well, with a total net thickness of 100 meters, distributed over 6 areas, with thicknesses ranging between 8 and 30 meters for each.”
https://northafricapost.com/54815-morocco-gas-exploration-encouraging-results-from-anchovy-2-drilling-confirmed.html
All the best
P
I wanted to add my congratulations to the company for managing the well so tightly without leaks to the market - no small feat and very professional - hopefully an indication of things to come and better standards of governance.
Still can't believe it!
P
Yep - seen it. Very positive. Doubles NAV from 27p to 54p but still excluding lots of the upside.
All the best
P
Oh wow. Am I dreaming - can't believe it's finally happened. This is amazing. After all these years of disappointment. Superb.
All the best everyone
P
Simon Thompson issued another buy rec. yesterday (+ it was tweeted by Chariot) - may help sweep up a few more of the placing overhang sells hopefully.
https://www.investorschronicle.co.uk/ideas/2021/09/28/bargain-shares-an-african-adventure/
Generally feeling pretty positive about CHAR at the moment.
All the best
P
Looks like a good opportunity. Question I have is that what does this mean for timing and terms on Anchois partnering? By this I mean why do this deal now, for shares, if, as some of us hope, there is significant cash about to come in from a partnering deal? Perhaps as a way of keeping the initial purchase price low and giving Anchois upside by way of the share consideration - in which case I wonder what the Enterprise Value of the acquisition has been calculated to be?
All the best
P
Presentation now on website
https://www.chariotoilandgas.com/wp-content/uploads/2021/01/Proactive-Presentation_14.1.21_Chariot-Oil-Gas-Limited.pdf
All the best
P
This message was actually tweeted by Chariot so even better indicator IMO as doubt they'd have bothered if they were about to disappoint shareholders in some way.
All the best
P
Hi All - don't post much on here but have been a holder since 2009 so am only tentatively allowing myself a little bit of excitement at these new developments (it's still a long road back to the black for me...). I thought one interesting comment Julian made in this video was that he linked putting 'sizzle' back into the share price with a future announcement on new ventures. Wonder what it could be? For now though, am very happy to be seeing some positive momentum!
All the best
P