Member Info for preciousmaj

http://www.proactiveinvestors.co.uk/companies/news/198162/chariot-oil-gas-to-drill-prospect-s-target-offshore-namibia-in-q4-as-it-secures-drillship finnCap analyst Jonathan Wright: �We estimate a net present value (NPV) for Prospect S of 23p per share on a risked basis, and 173p/sh unrisked.�

Pmsl jog on mate

“...we look forward to introducing new partners to share the costs...” This is implying that we are in discussions with more than one farm in partner.

Larry Bottomley, CEO, commented: "We are pleased to have secured the high performance Ocean Rig Poseidon drillship for the Prospect S well in Namibia. Operational plans are now well advanced for the first deepwater drilling in our Central Blocks licence in Q4 2018. We are continuing to take every advantage of the current historic low cost drilling environment as well as maximizing any further cost synergies by cooperating with other drilling operations in Namibia. Our farm-out discussions are ongoing, strengthened by this well having already been fully funded, and we look forward to introducing new partners to share the costs and also the significant rewards of a discovery on Prospect S, and to accelerate the optional drilling on the transformational follow on potential."

http://otp.investis.com/clients/uk/chariot_oil/rns/regulatory-story.aspx?cid=351&newsid=1038454

Presentation: http://www.chariotoilandgas.com/wp-content/uploads/2018/05/Chariot-Presentation-Africa-EP-Summit_23May2018.pdf Highlights: Page 3 - ''Drill ready giant-scale prospects, one of which is funded � partnering delivers more wells'' Page 3 - ''Cash and liquidity significantly exceed work programme commitments'' Page 7 - There are 12 wells with firm commitments in Brazil by JVs incl. BP, Total, Petrobras, Galp and Shell. Page 10 - Confirmation that Prospect S will be drilled in Q4, gross well cost $20-25m Page 12 - ''Chariot to operate well'' with ''7 drill-ready prospects'' On the conference call on 2nd May, Larry confirmed that the company are in current negotiations with a potential partner in regards to Namibia. He also said that the raise opened up the prospect of farming out to non-operators. The ''Chariot to operate well'' news from the presentation confirms that we are in talks to farm out the Namibian blocks to at least one minority partner IMO. Hopefully we are able to bring in some decent funds because ''partnering delivers more wells''. It is also interesting that 12 wells are committed in Brazil that surround our acreage. We are awaiting the CPR but the data room to farm out has already opened. With the calibre of companies operating nearby, the data room should be very busy. The final results are due on 6th June 2018, I hope that we get further details.

http://www.chariotoilandgas.com/about-chariot/strategy/ G&A expenses are around $5.0m based on 2016 figures, the final results for 2017 are out on 6th June.

We have around $30m in cash and we are fully funded with no remaining commitments. Prospect S is estimated to cost around $15.6m according to Peel Hunt but according to the CEO during the last conference call we are in negotiations to farm out the block, these discussions would obviously reduce our share of the drilling costs substantially, the strategy is zero cost exploration. We have 65% equity in the block and the main prospect in the block has prospective resources of 459m barrels, there is a 29% chance of success, which is very good for the industry. On a risked basis, finnCap values Prospect-S at 23p a share, or almost three times Chariots share price. We have other near term catalysts.

Pmsl no they are distractions from your original statement, you could have highlighted these facts from the accounts when you originally made the false statement about the annual overheads and we could have discussed them but you didn't.

When did we start discussing the whole profit and loss and balance sheet? Your comment that overheads are �6m per annum is untrue and has been proven to be exaggerated, carry on going around in circles attempting to prove me wrong.

Post a link to the tape then, so that I can figure out what you are trying to accuse me of saying.

When did I ask that question and when did I deny asking it? I don't know what you're talking about SQUEAKS. Are you telling porkies again?

*he stated �6m when its actually $5m

Pmsl it's not just 5m or 6m, he stated �5m when it's actually $6m. Do you not understand foreign exchange rates? Yes it does matter, he was lying to suit a hidden agenda and has been pulled up on it. '' You denied asking Larry if he has plans for a placing!!! '' What are you talking about now? What have I denied saying? When did I say it? So what if I asked a question about the placement? I don't follow what you're on about squeaks, please enlighten me. I thought you said that we should concentrate on the company now.

''You're actually coming across as someone quite odious. A trait I wouldn't necessarily have associated with you before now.'' You can resort to personal insults and name calling but it doesn't change the fact that you are exaggerating and pulling numbers out of thin air like the �6m that you stated to suit your agenda. We could have moved on from this if you admitted that you made a mistake stating the �6m instead of going around in circles, pulling extracts from my posts to challenge my integrity, calling me names, assuming that I took figures from the previous accounts and doing everything else possible to deflect from your original statement. Grow up.

''To remind new readers, thats not including any exploration costs.'' I see that you are trying to deflect attention away from your original statement where you exaggerated the overheads, you clearly stated that overheads are �6m per annum when they are actually around $5m per annum. You have been caught out, if I was you I would stop digging a bigger hole for yourself. If you want to discuss exploration costs we can but these have no impact on the made up figure of �6m that you stated. As it stands, we have around $30m in cash and we are fully funded with no remaining commitments. Prospect S is estimated to cost around $15.6m according to Peel Hunt but according to the CEO during the last conference call we are in negotiations to farm out the block, these discussions would obviously reduce our share of the drilling costs substantially, the strategy is zero cost exploration. We have 65% equity in the block and the main prospect in the block has prospective resources of 459m barrels, there is a 29% chance of success, which is very good for the industry. On a risked basis, finnCap values Prospect-S at 23p a share, or almost three times Chariot�s share price. The non holders will point to past performance and tell you half truths and lies. Their agenda is clear for all to see.

''You know, when you're estimating when 'news' may be due, or when you suggest 'deals may be finalised'. Does that make you a liar? '' The extracts that you have copied from my posts ''news may be due'' and ''deals mat be finalised'' are opinions, not statements of fact. You exaggerated the overheads like you were certain, you did not say that it was a approx. figure. We now find out that you are not a shareholders so you have clearly done this on purpose, you have admitted that you have a lower target entry price. Move on now you're going around in circles.

http://www.chariotoilandgas.com/about-chariot/strategy/ Demonstrated capital discipline, reducing G&A from $9.4m to $5.0m* * 2013 G&A compared to estimated G&A for 2016 The final results are out on 5th June so we can compare those as well.

MrJinx, you lied by exaggerating the overheads. That is a proven FACT. I don’t know what post of yours has been reported, maybe you would like to post it again and enlighten the rest of us with your knowledge or lack of.

The answer is simple.. you are not really that negative on the company but want to push the share price down so that you can buy back in, you have already confirmed that your target re-entry price is lower. More likely you have funds elsewhere and don't want the share price to run away. As it stands you are non holders, you are fabricating and lying to meet your re-entry goal. I don't need to do much to discredit you as others have seen through your hidden agenda.