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I spent an hour this afternoon having a look at any info publicly available on Askar. There isn’t a huge amount of intel - but he, through Meridian, is an investor who seems to favour FMCG, Natural Resources (Exploration and Mining) and Infrastructure. His plays generally seem strategic and longer term. He does seem to have some form with acquiring companies - but I couldn’t find much about this. The narrative definitely points towards this being a serious investor whose increase in shareholding will, unsurprisingly, be seen as a vote of confidence in chariot and is unlikely to be a quick punt. Given his activity in the natural resources - namely exploration and mining space it is likely he knows AP.
It seems unlikely that this is either a quick punt or unresearched bet!
DYOR - but beyond the obvious I think this looks encouraging and may draw others..
I wonder if you were right Whimax about a buyer keeping the price in check... time will tell, but assuming this is accurate it's a massive vote on confidenece.
I think a poster called 'Amanda...' posted a comment on here a few weeks ago in relation to Askar, so would be interested to hear their updated views - whether Askar has been moving funds, motive, etc
DYOR
I suspect that Energean are keen to get on with this.... They have been clear about Morocco, potentially, representing a key point of diversification to their existing geographies and therefore getting clarity sooner rather than later will suit them. AP has also talked about their ability to potentially accelerate Anchois production timescales if they choose to, although he wasn't clear on the how.
There is some interesting activity on the near term horizon : Loukos, Anchois, Strategic Review on Power arm, with heavy newsflow in the next 3-4 months.
As someone highlighted recently, you can only sell once (in relation to persistent selling)...
DYOR
Thanks Surfit / Gooner..
When you say long term , I am curious what you think the following may do to the share price
i) The strategic review of Power. Speculation of up to 10p per share.. even if it's worth 2-3p+, it's 20-30% of today's mcap
ii) Finding more gas than expected, combined with a plan to produce by end of the calendar year
iii) Successful drill(s) on Anchois, unclocking over 1TCF and Energean taking up the option with FID in place before end of Calendar year
If all 3 fall into place, let's say by end of this calendar year - October/November/December..
What do you think that's worth... I dont regard that as seriously long term as a timescale..
DYOR/IMHO
If both 2 x 6 percenters are selling out .. I suspect they still have some left.. especially if Askar was also holding through other means ..
Whilst it’s an inevitable ‘how long is a piece of string’ does anyone have a view on how much they might have left .. assuming the entire 12 percent has been sold / is up for sale ..
Agree Bubblepoint
https://www.offshore-energy.biz/stena-drilling-drillship-goes-to-work-in-morocco-as-energean-takes-the-helm-at-gas-field/
Https://masterinvestor.co.uk/evil-diaries/evil-diaries-oil-over-the-place-2/?mc_cid=2761689052&mc_eid=83b18a1a88
There is, it is said, lots of oil around but much is far from politically safe and therefore Chariot (CHAR) off the coast of Morocco is not as attractive as Pantheon (PANR) which clearly has a massive oily acreage in Alaska. But these things take time to be proved up and, although the management of PANR is regarded as well up to speed, the expected eventual bid (at comfortably above 100p) will not appear, it is said, before 2025. I sold 250,000 at 36.2p and regret this. But cash is needed for domestic matters and CHAR which I pocketed at 9.3p.
Cavendish (part developed from Cenkos) are still bullish but, it must be said, CHAR is taking its time.
A clear 'get on with it' message, but at least he's pocketed rather than sold..
DYOR
Assuming there is an RNS on a new investor tomorrow, I think we will see something from Simon Thompson at the IC shortly after... his last advice was that 'clearly, Chariots farmout did not meet the expectations of some investors - but that the heavily oversold shares would bounce when -the dust settles.- He may see this as the perfect opportunity to move his 'hold' advice back to 'buy'
DYOR
DYOR
Jagua - I think you are right, it’s most likely about the seller not liking the partner. The fact that they have fully cleared on the day of the formal transaction is not a coincidence in my opinion
IMHO
Do you really think that GP? I think that when this overhang clears - and to be clear, there is one, this will start to climb. Personally, I still think it was either about the fact they didnt sell, or something to do with the Israel listing. The sale of the power business will yield something, finding significantly more gas in Loukos will definitely kick it - as I think the market is circumspect at the moment, that will have a 'feel good' bounce on Anchois drilling. too.. I think this could get to 20p quite quickly once the overhang clears.. DYOR