Member Info for preciousmaj

The SP is holding up well, I hope it finishes above 10p today and gains support in double figures.

Not long until Tullow commences drilling on the Coromorant-1 well, they are targeting 1st September spud.

Cormorant will take around 34 days, the rig will then move onto drill the HUGE Prospect S in October
(29% chance of geological success - 459mmbbls + 2.4bnbbls follow on potential - 65% equity)

I think we will get some sort of update this / next week and another update the following week. The interim results are usually posted in the second week of September.

''FYI I loaded up another 180,000 at 8p :)''

Do you remember why you bought the 180K? It seems that you have forgotten.

Thanks for making the correction DrillaHill - refreshing to see some facts from a genuine holder on this bb.

Don't worry about the said poster, he's just worried about the impact of UBER.

Yet the SP continues to rise 10.35 +0.51 (5.21%)... some members of this bulletin board must be disappointed

https://twitter.com/AIMissionary/status/1034398435959554048

Todays rise is just the start for #CHAR
> 3,000% upside in the success case
> Fully funded with c.$30m cash in the bank
> 459mmbbls +2.4bnbbls upside
> 29% chance of success, best in #Namibia
> 338p potential according to Canaccord Genuity
> Partnering underway (65% operator)

10.19 +0.35 (3.52%)

Over 500k shares traded in the first hour

Just over 4.5m shares traded yesterday

As we head closer to the spud of Prospect S expect more interest and higher volume as the market wakes up to the potential.
(29% chance of geological success - to be drilled in Oct 2018 - 459mmbbls +2.4bnbbls follow on potential - 65% equity) LOL

grubler

I have been here since 2012 and have been pretty proactive unlike most. What have you done in that time? How many times have you attended the AGM and participated in conference calls?

There's no reason for you to be bitter because the SP is rising. Its odd that we have more people complaining now then there were at 8p.

You had another chance to load up at 8p but seems like you listened to the ones that have been moaning on this bulletin board instead of doing your own due diligence. We all have a choice whether we research and be proactive, if things go wrong then we should own up and move on.

I won't entertain your insinuations and hearsay as there is nothing to substantiate your comments. If readers are stupid enough to be manipulated by anonymous posters on public bulletin boards then I feel sorry for them.

Where’s the evidence that anyone has an agreed exit? I think most are clearly trying to keep the bulletin board interesting and informed. As far as repeating the same things over again - the reason is probably to counter the negative posts from the regular derampers who are stuck in the past. If anyone doesn’t agree with anything then then they can go ahead and present their argument and it can be discussed further. These bulletin boards are designed for discussion and debate.

Here lies the reason why most are invested: “the fact this well will be in an area where there is a working petroleum system ie the WINGAT well drilled by HRT” Chariot has a bigger prospect than Tullow with a much better chance of success, 29% compared to 15%. CHAR is elephant hunting and success would result in a 3000+% uplift in the share plus the 2.4bnbbls follow on potential that will be derisked. These are facts, if I am wrong then please correct me and give your take. The data rooms are open to parter in Namibia, Brazil and Shell. Any deal would mean more drill commitments. Expect cash and/or free well carries.

The management are likely to have a conference call before drilling commences on Prospect S but just in case that they are not considering this, I will make contact this morning to make the suggestion. I hope that we have this call and that shareholders can engage about the potential of Prospect S and other matters that they feel are important. There have not been many participants to these calls previously so management may decide against it.

Please ignore the derampers, they have been complaining and moaning for years. There have been many opportunities to average down and sell at a much higher price, some of us were suggesting a buy before the previous leg up but these derampers were busy moaning then too. They do not attend AGMs and ask questions on conference calls, there have been many opportunities in the past few months. In fact, they were all posting on this board at the time of the last conference call when I suggested that they should participate but this was ignored. I have attended a few AGMs and have participated in conference calls, I was treated well and I felt like my questions were answered fairly and as openly as they could have been. These derampers were moaning previously when the SP went from all time lows to hit 23p. Maybe they are shorting, are overstretched or have a lower entry point in mind but it doesn’t make sense to cry when the share price is rising. No point engaging with such posters.

https://twitter.com/AIMissionary/status/1034410107457679361
>>Pancontinental Oil & Gas NL (ASX:PCL) targeting big oil off Namibia<<
Expect more interest leading up to the drilling of the TINY Cormorant-1 well by PCL & it's partners in a few days. The rig will then move to drill #CHAR's HUGE Prospect S well 🤑🤑🤑
https://www.finnewsnetwork.com.au/archives/finance_news_network190468.html

https://twitter.com/AIMissionary/status/1034398435959554048

Todays rise is just the start for #CHAR
> 3,000% upside in the success case
> Fully funded with c.$30m cash in the bank
> 459mmbbls +2.4bnbbls upside
> 29% chance of success, best in #Namibia
> 338p potential according to Canaccord Genuity
> Partnering underway (65% operator)

Hopefully in the very near term

I wonder who this is with a new avatar. The share shuffle did not happen under Larry's leadership. Shareholders have had many opportunities to average down and sell at multiples during his tenure. I wasn't happy with the timing and discount in regards to the placement but it has improved our cash balance and we are much stronger with the c.$30m cash in the bank. Some of us are happily looking at the future potential, not the past. If you don't trust the management then jog on instead of trolling. ''so nothing happening short term, come back in Oct.'' PMSL October is pretty short term lad and I can assure you that the SP will be much higher when October does come.

PCL - 20% of 124mmbbls = 24.8mmbbls @ $5 = $124m

PCL - 20% of 1000mmbbls follow on potential = 200mmbbls @ $5 = $1000m

Vs

CHAR - 65% of 459mmbbls = 298.35mmbbls @ $5 = $1491.75m

CHAR - 65% of 2000mmbbls follow on potential = 1300mmbbls @ $5 = $6500m

There is a clear distinction between the two valuations. Pancontinental has a similar market cap to Chariot, PCL $31m and CHAR $42m, the difference is probably the cash in the bank after deducting the well costs for Prospect S. This makes no sense as PCL only has a 20% licence equity in a 124mmbbls prospect with 1bnbbls follow on potential with CHAR having 65% licence equity in a 459mmbbls prospect with 2bnbbls follow on potential. So, why is there such a large discrepancy in the two valuations and when will the gap get filled?

PCL has a market cap that is exactly 25% of the $124m that I have calculated above, if CHAR was trading at a similar valuation then our market cap would be 25% of $1491.75m. Even though we are way undervalued, I don’t expect our valuation to be that high to be honest but why would the market give so much value to PCL and so little value to CHAR when we have a much greater prospect and with better geological chance of success.

Looking good for CHAR to rocket soon though.

nm

Welcome 11p

It would have been better to get in at 8p when the derampers were moaning but it's still undervalued

Plenty of 10,000, 25,000, 40,000, 50,000, 100,000 trades all the way in to the close, the highest trade of the day was 250,000 - someone building a decent position