Member Info for Surfit

Apologies Surety, I was thinking Energean could buy Chars % of the Morrocan GAS assets...very cheaply most probabley (compared to the farm in deal which was already cheap)...although if they àctually wanted them it demonstrates some confidence in the field.

Rgds Sft

Nice find KnC, would be good but does it indicate they have not got what they want yet?

Rgds Sft

Hey Surety,

The problem for Loukos (imho) is without having done a flow test at OBA-1 AND potential farm in operators seeing the results of Energean's drill and not taking up (presently 🤞) Anchois or the bigger field options they would be VERY hesitant on trusting Chariots data.

So maybe prospective Loukos buyers will be waiting on what Energean actually do and then maybe they could gain a bit of confidence on cross confirmed / adjusted data for Loukos?

Of course if Energean do step in and go for some sort of development then the data is better understood and Loukos is possibley more valuable...but it also works the otherwise if Energean walk or sell at a cheap value....? So following that process we may hear nothing until Energean let the markets know what they are going to do. As Oiltdr has said if it was that bad they would have walked by now.

The issue continues if Energean confirm that its not a big enough for them and THEY are looking for a operator to sell thier options too....not know how good Chariots farm out contracts T&C's were.

As individual and relatively small investors we are blind to what Chariot have signed. We might have access if we were a larger share holder or banded together as a investor group.

I, as we all do, hope that Energean actual DO disclose there Morroco intentions in March? They could still continue radio silence as negotiations are ongoing, they may or may not inform they are looking to sell, or of course walk. OR

Positives being:

1. A Anchois development and addtional seismic or exploration / apprasial drilling for the field.

2. Buy all of Chariots assets for a (unfortunately) knockdown price.

🤷‍♂️

Rgds Sft

Ahhh sorry Jt, I miss read what you were saying 🙄🤦

Hey Jt,

Looking at the website, they have NOT updated, still have 30/09/24 at the bottom of the "Significant Shareholders" and no change.

So we will have to wait to see in end March.

I DID though miss putting in Hargreaves and Lansdown Asset Management 14.3% on my previous "status" post.

Kind rgds Sft

Oh NOW you think of it 😂

Hey Ianfer,

The short answer is I am not sure: I would be inclined to belive Chariots website where it identifies Westward as having 8.02% then it goes onto say (AP and others) Total Board and Senior Management has 8.6% but it does not break that down.....

But by going to other locations it has the "others" total amount at around 0.4% to 0.5% and AP at 8.2% so he could have around 16.22%? As of 6 months ago.

But there are also different % for AA (Askar Alshinbayev) also.

I have recorded these now (here) , to reference what the changes are come March 31st (Chariots website) or if others change as well.

Its not easy to know when or where the other sites post, update or acquire the information from.

Best regds Sft

Again looking at Simpley Wall St it details the following:

CHARIOT Energy Ownership Breakdown

Institutions 1.89% 22,571,077 shares

Private Companies 7.3% 87,365,324 shares

Individual Insiders 14.9% 178,792,685 shares

General Public 75.9% 907,637,836 shares

With further breakdowns thus:

Adonis Pouroulis 8.02%

Askar Alshinbayev 6.44%

Westward Investments Limited 6.13%

Covalis Capital LLP 1.51%

Leto Trust 1.17%

Fiera Capital Corporation 0.37%

George Canjar 0.28%

Duncan Wallace 0.068%

Julian Robert Maurice-Williams 0.06%

Christopher Zeal 0.043%

Andrew Hockey 0.033%

Sft Note: I have my doubts about how accurate, when or whare the collect thier data.

Reference to market screener they have similar details and quick overview is

Individuals 14.95%

Institutiona 1.51%

Unknown 83.54%

https://uk.marketscreener.com/quote/stock/CHARIOT-LIMITED-4008468/company-shareholders/

Chariot energy website data shows:

Interactive Investor 12.6

Westward Investments

(Adonis Pouroulis – CEO) 8.2

Halifax Share Dealing 5.9

Mr Askar Alshinbayev 5.9

A J Bell Securities 4.0

Barclays Wealth 3.4

Total Board and Senior Management 8.6

Figures as per latest Orient Capital shareholding analysis 30.09.2024

https://chariotenergygroup.com/investor-centre/aim-rule-26/

For reference to cross check for changes.

Rgds Sft

Yes it's intresting and a example of what can happen, something I have not seen before.

Proposed Cancellation of Admission to Trading

6 Dec 2024 07:00

The Directors have conducted a careful review of the benefits and drawbacks to the Company and the Shareholders of retaining the Company's admission to trading on AIM and believe that the Cancellation is in the best interests of the Company and the Shareholders as a whole.

In reaching this conclusion, the Board has consulted certain Shareholders and has considered the following key factors amongst others:...."

a) Costs and burden of maintaining a public listing: The considerable cost and management time and the legal and regulatory burden associated with...."

b) Strategic flexibility: The Board believes that, as a result of the more flexible regime that is applicable to a private company, an unlisted company can take and implement decisions more quickly than...."

c) Lack of liquidity: There continues to be limited liquidity in the Ordinary Shares and, as a result, the Board believes that Shareholders are not provided with opportunities to trade in meaningful volumes or with frequency in an active market in Ordinary Shares

d) Market volatility: As a result of the limited liquidity of Ordinary Shares described above, small trades in Ordinary Shares can have a significant impact on the Company's share price; and

e) Funding options: The majority of the potential investors the Company has recently engaged with have expressed a preference to invest in the Company if the Ordinary Shares were not traded on AIM. Therefore, the Board believes that the Company has a greater chance of raising equity and/or debt financing from investors as an unlisted company than as a publicly traded company.

https://www.lse.co.uk/rns/SDX/proposed-cancellation-of-admission-to-trading-2mfyv46chr9n3mp.html

Results of General Meeting: 24 Jan 2025 13:49

"At today's meeting, more than 50% of the Company's shareholders voted and, of those, over 80% voted in favour of the two resolutions. Shareholders have expressed a clear view that the Company should delist from AIM and become a private limited company.

We are pleased that the turnout of shareholders was strong and look forward to exciting opportunities as a private business."

https://www.lse.co.uk/rns/SDX/result-of-general-meeting-00quy5abnr1tjzf.html

It will be very intresting to see the new share distribution of CHARS Shares. Website expected to be up dated on or around 31st of March, which will be just after ENOGS trading update...which MAY provide some clarity????? HOPEFULLY

Rgds Sft

Missed the fact that SDX voted to delist management quoting costs to keep in as a reason

Looking at Sound energy with SP price at 0.70 of a pence!

Shares in Issue 2.08b

Market Cap. £15.60m

Revenue 0.04 (31 Dec '23) 0 (31 Dec '22)

Market Size 500,000

PE Ratio -1.973684

It does make you wonder IS there actually ANY comercial gas in Morroco 🤔😬

Hey Oiltdr,

It would be hoped that CHAR T&C on the farm in with ENOG had a "walkway clause" set in and / or development time line clauses.

CHAR in theory have had plenty of experience writing such contracts and always seem to have had cash issues.

Looking at the farm in deal it appears that CHAR did not have many takers, thus ENOG securing a low cash out put deal, with the big caviate being "NO" development until confirmed to be certain size.

The question is WHAT did (if anything) CHAR secure as protections, against poor results and ENOG stepping up to development. I still find it beyond belief that CHAR would not have included protections and exit strategies against such.

They could say well it was this deal or nothing, is that no other farm in prospectors?

No deal and wait, (imho) is always better than a very bad deal, that traps you.

Surley CHAR'S CEO, CFO and technical director are NOT that incompetent?

I would be hoping that if there was not a guarantee of a minimum (as identified by the Subsea Aliance)and confirmed by the RNS confirmed completed project (Anchois-2) FEED) THEN the exit strategy was built in CHARS favour?

If not, then we MUST revert to the question of BoDs competence. Whis is what the market also has doubt over I.e. sp value.

Rgds Sft

It's all down to the farm in contract: T&C's.

But my guess is CHAR BoDs lack the experience of dealing with ENOGs CEO and team, also lacking the finances lead to being bent over the barrel.

AP knows mining from his families position but has relied on the likes of Wallace +

There is a big difference when comparing men who were brought up working for openers with big teams, big budgets, big assets and being a minnow fighting to make it, as Rigas has..the man's sharp and built a strong company I.e. no bull but plenty of deliver for his share holders (imho)

Time will tell...as usual.

GLA

Rgds Sft

Spread: 0.258 (20.773%)!

This is some share, some company. Sells now worth 1.242 🙈

No one is interested in being near this now until the BoDs let us know what is happening.

Rgds Sft

What's also intresting is the spread hike to 23.762% taking to buy up to 1.5p????? done at aprox 16:03hrs on Friday????

Rgds Sft

Getting 1 positive and 3 negatives is a VERY specific comment, and if an information leak has happened I am sure the market will react appropriately as soon as they get wind of it.

But anything goes with these bunch of winners. Mine fear has always been a too early share consolidation.

I am expecting it at some point but was hoping it to be when they had secured an decent income and the sp was +20p 😂😂😂

🙈

Rgds Sft

🙄 correction " Lesson also is never listen to those that shout AND never answer withOUT supported facts"

Hello TDH,

If you do not mind me asking when did you invest in Chariot?

You posted " This company, and my delusional idea that I thought I knew what I was doing, has destroyed my pension. I have 13k left from 115k should I just take the beating and get out, or do you think there's a small rise somewhere on the horizon 😔🙏🏼"

I came in on the Stena Don gas find (10th Jan 2022) it looked to be a the right time to invest in a "quick" turnaround project. I belive the hype at the time and the press that Chariot stated pumping out regarding project deliverable....the Subsea Alliance, completing FEED and IF I remember correctly they were aiming for Anchois small scale production in 2025??? They even mentioned that they could secure funding to go it alone

Which related to an earlier as far back as October 2020! RNS MOU for Anchois Project financing

https://www.lse.co.uk/rns/CHAR/expression-of-interest-letters-6ynbh399ial3lew.html

The farm in changed that, threw out every thing they had been reportedly planning and building on.

As before the drilling team have never struck commercially ( since 2007) before Morroco and what they have found Anchois-2 ..(but not flow tested, Anchois 1 old well not touched and only after questioning did they confirm it has to be redrilled and flow tested) water or subcommercial has thrown.

The other pillars are a way off from being commercial income generating.

It's not good. But I am stuck in as it seems you are, so the likes of Jt, Surety, Fernan and myself are not ramping but desperately looking to see, now we know what the management and BoDs are like, if there are ANY realistic opportunities left....other wise I would take my +75% loss (currently as the SP has not bottomed out) and run BUT I am sure like me you are clinging onto the raft hoping for someone to pick us up.

I am stuck hanging on ( could not get out after the farm in) and me personnel will sink with the raft or get picked up.

Investing can be a VERY cruel learning process. The biggest being FOMO ( Fear of missing out).

I am down not as much but not to far away as I have been reducing my average...but its called "catching a falling knife"

I am about 80% sure this will fail and resigned to it.

Lesson also is never listen to those that shout, never answer with supported facts.

Finally your not dead YET, if you have your health and a family that cares about you you are already a RICH MAN.

Life is full of gambles so just re-read the poem "Kiplings: If"

Kindest Sft

Hey Jt,

Fully agree, it's just that GreenGo Energy they look they have been around a while and are extremely secure and experienced company. With Chariot not have quite the same history....ALTHOUGH AP carrys some significant weight, experience, history and connections probably all over the continent...from the historical RNS's I posted I think he started chariot and hoped to grow it like a mining, but has ( it appears) to have diabolicaly let down by the exploration team. Being forced to get rid of people and step up himself to add further funding (loan for drilling and further share purchasing), steer the company into the two other pillars, and remain as CEO. He has experience in securing addtional funding, but the Gas was ment to be the base and spring board for the other two....I / we and he are all hoping Wallace can actually deliver once in ALL the years he has been with them.

I am not sure, for several reasons expressed before that Wallace / or any of the OnG team are any good at all. I know I would have been down the road after 2 consecutive fails, nor has the CFO been on point either (in my limited opinion).

But he is banking on Oort's polymer electrolyte membrane (PEM) electrolyser system for sure.

Although I REALLY hope I am having to write a letter of apology to the Chariot Board after the 20th of March of course 😁

All the best Sft

Hey Gents, found this:

Upcoming events on Energean plc

20/03/2025 11:30 am Q4 2024 Earnings Release

https://in.marketscreener.com/quote/stock/ENERGEAN-PLC-42413942/calendar/

It not TOO far off but could do with: Some good news from our team before, to help stabalise the SP...other wise we could be like the POO in Jun 19, 2020 😬 😁

Rgds Sft

Looking in to Project Nour a bit more deeply, this artical although published in 13 March 2024 reveals, at the end of the artical, that there is a bit of competition. Now the question how experienced, big and proven is the competition?

"Project Nour’, a joint development with TEH2 — a consortium 80% owned by French oil major TotalEnergies and 20% by the EREN group — has moved to conceptual engineering studies. slated for completion next year"

https://www.rechargenews.com/energy-transition/anglo-french-backers-of-mauritanias-green-hydrogen-megaproject-reveal-first-phase-plans/2-1-1611732?zephr_sso_ott=ij4tB3

The competition according to the above artical is:

1a. GreenGo Energy: https://www.greengoenergy.com/

1b. Latest status on GreenGo Energy in Mauritania: https://www.hydrogeninsight.com/transport/danish-developer-secures-land-for-gigantic-green-hydrogen-project-in-mauritania-after-slashing-capacity-by-more-than-80-/2-1-1780782?zephr_sso_ott=8Bc9rS

2a. CWP Global’s 16-20GW Aman project:

https://cwp.global/terra/projects/

2b. Latest status on Aman project: Stuggling to find current status.

3a. Infinity Power’s unnamed $34bn, 10GW facility

Infinity Power: https://weareinfinitypower.com/

3b. Latest status on project: I am unable to find further detail.

To me it looks like GreenGo Energy is CLEARLY ahead, in size, experience, history and expertise but will look further.

Chariot are very much in, especially with TotalEnergies as the partner BUT it seems we only have the Chariot "Team" seemingly leading the charge with

Oort Energy: https://oortenergy.com/our-products#timeline

We are piloting, with no funding meanwhile are GreenGo Energy building with funding.

Further research required.

Rgds Sft