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ChazC I’m intrigued so what price are you guessing on a duster? 4p is my guess. In the worst case scenerio, lets hope you get a bit closer than the 35p you predicted on spud!!! What a joke??!!! Bearing in mind Chariot has been building up to this point for 5 and half years it was a bit of a damp squid RNS in my opinion. Where was the comment from our CEO????
MrJinx yep, just been running some calcs and not even sure 5p will hold in the event of a duster in Morocco. Confidence will be shot and the market may attribute no or minimal value to the drill in Namibia. Hence Year end 2017 cash approx £11m unaudited, assuming full take up of open offer an additional £4.5m working capital. Now I’m thinking if the market attributes no value or minimal value to the drilling of prospect S then the approx £10m raised for the drill may be assumed to be money that will be spent with limited chance of success. Add to that the inevitable cash burn and I’m thinking the market could only value Chariot at £15m ish. With the increased shares in circulation this would roughly equate to just under 4p. A sobering thought for shareholders possibly as we approach a critical month for the company.
TTF it’s quite simple really my thoughts change as events unfold. If Larry had been able to secure another farm out before RD-1 then I would have a totally different opinion to what I do now. You seem to have got a little bit touchy there about one of your calls way back that was wrong... I better not mention Churchill mining or I’ll probably get accused of trying to buy CHAR below 10p!!
Yep that’s my guess with £11m of that cash earmarked for prospect S drilling. Doesn’t look like a Namibian farm out is likely. Mauritania: no farm out, licence relinquished. Southern Namibia: no farm out, licence relinquished apart from 10% clause. Central Namibia: no farm out yet. Need I go on. Another poster with rose tinted glasses!!!!
TheTradersFoocus i’d check those numbers again mate if I was you. Year end cash (unaudited) for 2017 quoted as $15.2m by Chariot in latest presentation so roughly £11m. With cash burn I would suggest this would be closer to £10m now. Assuming the Open offer is fully taken up and with the placing you can add £15m to this, hence £25m in total. Significantly less than the figures you quoted. If RD-1 is a duster the 8p you quoted will be smashed IMO. More like 5p would be by guess. I’d run through those numbers again if I was you.
Norway share price struggling aswell: http://www.oslobors.no/ob_eng/markedsaktivitet/stockOverview?newt_graph-stock_tab=month&newt__ticker=BRIDGE
Gonna be tested by looks of it. Needs to hold
http://www.edisoninvestmentresearch.co.uk/research/company/bridge-energy Starting to get noticed a little more hopefully.
Thanks for posting the report. Do you have any thoughts on farm down of vulcan satellites? Would be excellent news if we could get a partner on board. ATB
Good presentation from todays conference on website: http://www.bridge-energy.com/investor/index.cfm?Presentation_and_webcasts It makes very good reading. Short term we could expect a partner to come on board for Vulcan which would be excellent news. Chart wise I think things are looking much more positive. Double bottom at 100p and closed above 20 day moving average. Hopefully the dreaded downward trend is a thing of the past. Onwards and upwards please.
No problem. Tomorrow could be an important day. Chart wise we've been in a downtrend for over a month and half and a blue day tomorrow could signal a break out to the upside hopefully.
They just keep buying over there: http://www.oslobors.no/ob_eng/markedsaktivitet/stockOverview?newt_graph-stock_tab=month&newt__ticker=BRIDGE
Finally. Come on market wake up. 3 commercial oil discoveries out of 4 drills. Significantly de-risks other prospects within garantiana and PL457.
All buys in oslo: http://www.oslobors.no/ob_eng/markedsaktivitet/stockOverview?newt_graph-stock_tab=month&newt__ticker=BRIDGE Load up at these prices. Very cheap at these prices.
So since garantiana and PL457 drills bridge have added approximately 15 millions barrels of oil. Say an average price of 6usd per barrel and that gives an approximate added market value of 60 million pounds! This is so de-risked now at this price- amazing value
http://www.bridge-energy.com/news/index.cfm?Asha_oil_discovery,_results_of_PL_457_well_16/1-16_and_sidetrack_16/1-16A