Member Info for Surety

Surely, this has to be chronic manipulation of the share price....

DYOR

Https://www.moroccoworldnews.com/2024/05/362866/chariot-oil-amp-gas-finds-major-reserves-in-northern-morocco

They also need the material revenue to the Exchequer that O&G generates, in order to accelerate/fund their spending in other areas...

DYOR

Labour are going to have to move from populist rhetoric.. to governing policy at pace.. I suspect we will see a softening on their EPL logic, including the capital relief element ... shortly

IMHO

Bodes well..

https://www.offshore-technology.com/news/serica-belinda-offshore-uk/

... and an update on the strategic review on power....

It looks like a combination of AA and a broader party inc YF finance and MCL (all related) held over 20% of chariot at some point in 2022.. now c. 7%.. but they appear to be significant shareholders in Enog..

No doubt more to follow

DYOR

DYOR

If the drill in Anchois East well is successful, you would think it possible that Energean may well make a play for Chariot (why wouldn't they given the +10% option fully carries Chariot).. It may well have been them that expressed an 'interest' in the whole company.

IMHO

Askar Alshinbayev is a principal and co-founding partner of Meridian Capital Limited (MCL), which holds significant investments in various sectors, including natural resources. Alshinbayev himself holds an 18.41% share in Energean and is a major shareholder through his company, YF Finance​ (Askar Alshinbayev)​​ (PitchBook)​​ (Financial Times)​. His involvement in Energean underscores his extensive investment management experience, especially in global and emerging markets.

Thought this was interesting in their short broker note..

After a year of significant value realisation for shareholders that has secured the funding to progress Buchan to first oil, we expect the high quality management team at Jersey to look to maximise its financial synergies in using its $50m tax loss to acquire a package of production assets and explore other growth opportunities.

DYOR

Energean indicating that it should be at the beginning of Q3 (July) rather than the end - so only 2 months to start...

Https://www.energyvoice.com/oilandgas/north-sea/553700/new-report-finds-north-sea-could-lose-100000-jobs-under-labour-windfall-tax-plans/?utm_source=Sailthru&utm_medium=email&utm_campaign=Energy%20Voice%20Daily%20Newsletter%20A%202024-05-17&utm_term=Energy%20Voice%20-%20Newsletter

DYOR

ST cites the Cavendish nav at 57. It increases to 71p if ENOG take the +10% option, which he doesnt mention (but has done previously)

@Gooner, thanks for the feedback yesterday! I think my eyes are pretty open...

and time will tell - hopefully we will both be making that donation at some point ..

DYOR

Https://www.investorschronicle.co.uk/ideas/2024/05/16/an-african-gas-play-with-multi-bagger-potential/

.... regardless of Chevron's narrative

https://on.ft.com/4bAmHms

Not quite sure what your definition of 'our team' is as it's quite far reaching.. Malcy is on multiple teams and a pundit!

As regards Jimmy, I struggle with your implied label! Personally, I think he adds a good perspective, technical understanding and I very much welcome it. Like everyone else, I take a view from multiple sources - not just one person. Chariot acknowledged from Gaufrette 'thick intervals of good quality reservoir, that was better than estimated'

Jimmy made the same observation...

Cavendish Summary - Prospect-specific failure. We interpret the Gaufrette result as being prospect-specific given the preexisting discovery of gas within the same play downdip, and potentially caused by a trapping breach.

The odds were good.. it didnt come in.. onwards. The law of averages suggests Dartois should come good.. time will tell . There is a lot of value here..

DYOR

Anchois drill scheduled for July, more specifically at the start of Q3. This isnt in the Cavendish note, but was covered by an Energean update from memory

DYOR

Bit more colour on the Cavendish note :

Defining Gaufrette as prospect specific failure. Dartois is a different fairway with a different trapping. Valuing Dartois at $80-100m based on 20 BCF.

Highlight the typical Moroccan business benefits - high domesrtic gas prices, fiscally attractive

Valuation: the Loukos Onshore licence we conservatively modelled just an 8Bcf development scenario. With the Dartois well potentially unlocking a trend of prospects with a P50 resource of 20Bcf, we leave our valuation unchanged at 57.7p. They are north of 70 if the Anchois drill comes in

Significant 2024. Planned activity in 2024 includes pivotal drilling campaigns both onshore and offshore Morocco, which – if successful – could lead to the sanction of multiple new developments and material revenue streams for Chariot. Offshore, Chariot recently completed the partnership agreements with Energean and announced the signing of a rig contract for the use of the Stena Forth drillship for the Anchois East appraisal/development well. This drilling and testing campaign, which will be conducted in Q3/24, will further appraise the existing gas sands, including flow testing, and target undrilled prospective resources to potentially increase the Anchois gas development to >1 Tcf.

DYOR

Have also just bought some more...

@Jimmy - I'd be curious for your view on any read across to Anchois from this, I guess that would be the main worry - although suspect this is minimal

Question meant in a constructive way (rather than de-constructive)