RE: Latest Proactive29 May 2024 18:27
Pleasure Surfit....
On Anchois I thought the same, and likewise assumed it was cash. The question I keep coming back to is that DW appears highly astute. If they had thought that there was a high/significant risk with the follow up drill / flow test as part of the ENOG farmout - then they surely would have taken the buyout. I know you can always argue they may be over complacent, but DW is a qualified geologist who loses a lot of upside if this hits the rocks.. Add that to his recent proactive performances and he looks as confident as I've seen him publicly..
On a related note, my working assumption is that the 'Meridian' consortium took a high stake in Chariot, and had the same in Energean working on the basis that Energean would buy Chariot, and it would be win win (from the sale and the rise in the ENOG share price). When Management didnt play ball they dumped a high proportion of the shares in Chariot (through annoyance of belief of a longer payback) which collapsed the price - but from which they still made a profit from the low 2-8p range in which they likely largely bought. They then kept a holding in Chariot (7%) and maintained the strong holding in Energean - which should see a strong benefit from success in Morocco with Chariot.
All of this could be 2+2 = 5 though... so it's just a theory..
On a separate note I am surprised that Cavendish, the house broker, haven't published an update on Dartois (or if they have it's still not on research tree - whereas Auctus have). This seems odd because Cavendish only 2 weeks ago talked up Dartois... and speaks to : i) There is a posting error, ii) there is more significant news around the literal corner, iii) They are about to change broker or iv) it's caught them by surprise or v) finally there is something else....
DYOR
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