RE: Chinese economy boomtime..30 Jan 2010 18:10
Morning mate, good post ... yes the dataroom opening at NAPE on the 19th of February is a fantastic oportunity for CHAR to wow investors not only with their seismic data but also with the figures that are associated with the company. Their next probable move as we have suggested for a while now will be to issue a RNS with the updated mean prospective, currently standing at 5.24 Bn, which in itself if very impressive but IMO this will rise significantly when news comes. So why do we think this ? Firstly as your post suggests they will let the market know in advance of the opening of the data room which is now just 15 trading days away.
From the CEO's own mouth .....
http://www.growthcompany.co.uk/features/1102297/exploration-insights-by-robert-tyerman.thtml
From the Chariot website ....
The new 3D seismic data has been acquired over many of the most prospective features in the Northern and Southern licence areas and has been targeted to further mature the best locations for a potential drilling campaign. This seismic data is currently being processed and the resulting interpretation will increase the understanding of the hydrocarbon potential offshore Namibia. The 3,000km of 2D seismic on the Central blocks (2312A & B and 2412A & B) was acquired in order to better define some major geological structures which may be present in this area.
Right so we have your post which tells us we will get an update before the datarooms open ....
The Growth Company article quotes the CEO saying they WILL increase the mean ....
The Chariot website quote Majoe geological structure ....
So ,,,, we have 1 + 1 + 1 = 3
Well thats the sum I have anyway, the recent drop has offered new investors or existing investors to either take a position or add to their positions with the knowledge that within 15 days Chariot will announce what they have said they would and hopefully the result will be a jump in SP.
However you would not expect CHAR to wait till just before the NAPE convention so I would expect them to announce a week or two before giving plenty of time for investors to jump in and the news to be out there and digested. If they don't announce this coming week then I will be surprised, so without doubt for me within the next 10 trading days.
If the announcement indicates a jump in the mean prospective what will we be looking at in terms of the new mean ? Well the Southern and Northern blocks together equal 5.24 so is this is averaged then you would expect to see7,86 Bn (5.24 / 2 x 3 = 7,86) however with the mention of the MAJOR GEOLOGICAL STRUCTURES, I would imagine the average to be above thus my estimate of 8-9 Bn barrels.
There has been talk recently of a large Chineese company wanting to aquire a company with a mean of 6Bn + for so many billion dollars but I would like to see Chariot with the help of Petrobras stay independany for the foreseeable future thus giving maximum profits to us existing shareholders.