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You obviously think there is some hope of an uplift from here Surfit, as you are buying more ;-) Only smiling because I continue to do the same

IMHO

Https://www.miningweekly.com/article/responsible-mining-efficiency-key-for-miner-2025-11-11

Given there is a high probability that Jog will look attractive beyond 2030, surely it makes sense to use the offset now for the likes of Serica and move ahead with Jog believing that the tax environment, in line with the OPMG, will be vastly more benign beyond that?

IMHO

I think the key question is whether the ESIM triggers re: DUs email earlier. If it does the EPL is automatically and permanently terminated (as i read it as well) and replaced by the new mechanism (OGPM) which then provides greater clarity and certainty with the materially higher price triggers. This could happen at any time over the coming years before 2030. The oil price is low enough to trigger it, the issue is the cost per therm on the gas price. The government however can adjust this (and of note it is barely referenced in the new document). The new mechanism, which largely impacts Jog's production certainly seems both clearer and more attractive - which a high probability of no levy being in place from 2030..

DYOR

Based on the analysis of the provided link and related search results, here is the information regarding "Chariot Oil and Gas" in the context of the BNamericas article:

Key Findings:

The Mention: The article, titled "Brazil expands oil and gas areas available for bidding" (published roughly November 25/26, 2025), appears to reference Chariot Brasil Petróleo e Gás Ltda, describing it as "the local subsidiary of UK-based oil and gas company Chariot" (or a very similar variation of that phrase).

Context of the Article: The article discusses Brazil's expansion of areas available for oil and gas bidding, likely under its "Open Acreage" permanent offer system. This often involves offering blocks that were previously relinquished by other companies or expanding into frontier basins.

Chariot's Connection: Chariot Oil & Gas (now Chariot Limited) historically held 100% interest and operatorship in four exploration blocks in the Barreirinhas Basin (BAR-M-292, BAR-M-293, BAR-M-313, and BAR-M-314), acquired during Brazil's 11th Bidding Round in 2013.

Implication: It is highly likely the article mentions Chariot in one of two contexts:

Relinquishment/Availability: The blocks Chariot held in the Barreirinhas Basin may have been relinquished or expired and are now being re-offered to the market in this expanded bidding round.

Existing Presence: Chariot is being cited as an example of an international company with acreage in the frontier regions being discussed.

There appears to be some form of chariot connection to this link. I cant find it as it's under subscription, but its come up in my google search feed two days in a row. It could just be a connected link story, but there appears to be a reference to 'is the local subsidiary of uk based oil and gas company Chariot..'

https://www.bnamericas.com/en/analysis/brazil-expands-oil-and-gas-areas-available-for-bidding

Anyone have a view, or more access?

Jim - Would be curious for your perspective on this, and how you're reading the post 2030 piece - which is perhaps more relevant to JOG, not withstanding the point they need capital now

Https://www.reuters.com/business/energy/totalenergies-chevron-lead-race-buy-stake-galps-mopane-namibia-sources-say-2025-11-19/

Note comment : appraisal drilling Anchois 2026

https://www.japantimes.co.jp/country-report/2025/11/17/morocco-report-2025/onhym-contributing-reliable-energy-future/

Good find JT. Their use of the word 'major' is highly credible, especially from that source.

Note the imminent transformation of Onhym which is the underlying message about being key to reviving developments. Also note the Anchois resizing to allow 'rapid' efficient and economical development and the point about splitting chariot before year end 2025

https://medias24.com/2025/11/12/lexploration-des-hydrocarbures-en-attente-dune-nouvelle-relance-apres-la-reforme-de-lonhym/

Https://africa24tv.com/african-energy-chamber-aec-announces-working-visit-to-senegal-amid-regional-energy-transformation

Some punchy statements re vision

https://www.waterpowermagazine.com/news/growthpoint-buys-30-stake-in-boston-hydroelectric-plant-in-south-africa/?cf-view

News definitely gathering momentum

https://m.engineeringnews.co.za/article/growthpoint-acquires-30-in-boston-hydroelectric-plant-secures-exclusive-access-through-etana-ppa-2025-11-11

Https://www.mediaupdate.co.za/publicity/160301/nedbank-to-decarbonise-26-branches-with-growthpoints-pioneering-renewable-energy-certificates-for-tenants

Https://cbn.co.za/industry-news/renewable-energy-alternative-energy-solutions-news/electricity-wheeling-in-cape-town-861162-kwh-traded/

Https://urjadaily.com/acwa-power-signs-landmark-10-billion-clean-energy-agreements/

Power-signs-landmark-10-billion-clean-energy-agreements/

Note fund value for 'Africa'. Chariots total market cap is barely 5% of this..

Https://www.acwapower.com/news/acwa-power-unveils-usd10-billion-in-new-clean-energy-and-financing-agreements-at-fii9/

Mohammad Abunayyan, Founder and Chairman of ACWA Power, said the new agreements reflect the scale, diversity, and ambition of ACWA Power’s expanding global portfolio, underscoring its role as a pioneer in clean energy, water desalination, and green hydrogen. He emphasized that forging partnerships with world-class entities allows the company to accelerate innovation, optimize operations, and deliver transformative solutions that address global sustainability challenges.

He added that these signings mark a major step forward in ACWA Power’s journey to reshape the global energy landscape through affordable, reliable, and sustainable power and water solutions - delivered with speed. As the company continues to expand its international footprint, it leverages its deep project development expertise, innovative financing models, and strong public-private partnerships to support the global shift toward a cleaner and more inclusive energy future.

Https://www.engineeringnews.co.za/article/growthpoint-acquires-30-equity-in-hydroelectric-plant-secures-exclusive-access-through-etana-ppa-2025-11-07

I wonder if they will get involved here in terms of funding, equity?...

DYOR