Member Info for Surfit

Hey Gardie, I am really ignorant on how they operate, I just wonder if its all tide in with algorithms, spread, the 1 week delays on payments and that they act as the interface 🤔 🤷‍♂️

Would love to chat to someone that works in that sector for knowledge and greater understanding.

Rgds Sft

Note: "Good to hear about a improved....." related to Dutch assets.

Rgds Sft

Thank you for the post NQM.

AA came across as usual very well:

Very upbeat on the Jotun and really good points made on the associated debt.

Good to hear about a improved collaboration / communications and hopefully a reduction in down time via part operators. Maybe the tax effects have helped people focus on ensuring all parties are more efficient / focused on maintaining their uptime and therfore reducing the hub downtime?

GLA and Shetland Gas Plant stilling looking to a bit risky i.e. depending on upping production that requires opening new reservoirs?

Gas storage looks to be a steady income, some figures would have been good to have heard about?!? But AA's comments regarding the inventory was worth more than the purchase price, excellent site with good (even excited) moral in the workforce AND room for 60-70% upscale.

Can not see any further MnA until Norway (online) and Gas storage expansion FEED completed.

IMHO AA seems to have got a bit more pragmatic compared to the (again IMHO) a bit of a past over confidence (the PANR bid, although wish I had taken profits! my own fault!!!*@!!): It's made the team really sharpen up again.

Rgds Sft

Ohh spread just dropped down to 1.6% then immediately bounced back up to 4.19%

You make a good point Ianfer, it was something I was thinking about in that the mm apear to be increasing the spread and making money on that increase: i.e. normally ( IMO: TBC??) if there is a lot of trading the % spread is lower, in this case they have moved it up from 1-2% to +6%.

Not sure but does the buy payment deferment of a week have anything to do with it also? Not knowledgeable enough on mm's and how they could manipulate the process, they do though apear quick to enable a rerate of the sp qickley irrespective of supply and demand of buyer/seller????

Rgds Sft

Nothing on short tracker

https://shorttracker.co.uk/company/GG00B2R9PM06/

Wish I HAD though! 😂

It's all about FINANCING, Accuracy of Duncans Data and trust in BoDs (hence zero attribution to the 2 other "pillars")....all of which is reflected in the market valuation of the SP.

The market waits on news as the cash dwindles.

They need a real rabbit pulled out of the CHAR hat....remember it's not made any income (no profit from the water container) since conception, most $ spent on salaries.

That being said IF either Anchois, Rissina, Lixus or Loukos can be confirmed as a viable payer/project then the SP will rerate....but money is draining away every day.

Rgds Sft

Tomorrow will be interesting.

Long shot, pure speculation but: a port call, step out of port then back in again.... could the vessel have DP issues?

Rgds Sft

Tarragona, Spain

ATA: Oct 13, 06:28 UTC ARRIVED

Status: Moored

The speculations continue.

Rgds Sft

Or should it be rather deemed as an appraisal stage?

Having some one proven the presence of gas at Anchois-2?

Rgds Sft

If the Stena Forth was away from the local area, that would end our speculations as it remains very local we are still left with some hope?

With no communications from either company all we can do is speculate.

Was the one drill ever enough to determine a fields reservoirs extents, I always thought that several were generally needed to set these extents.

Logic would be that following the water wet find at Anchois-3 they evaluate the new formation findings, recalculate data and act accordingly.

Again I say surely a contingency plan was in place before hand.

As CHAR is more vulnerable due to financial cash runway risk its taken such a big SP hit.

ENOG as the operator for Anchois are responsible for taking the project decision but any announcements (ENOGs) have, as we have seen, significant impacts o n the SP. May be as we are back to a exploration phase almost again the is it not uncommon that news is kept to a minimum?

Thoughts OA?

Rgds Sft

Well it's going to get interesting soon enough: Will it go East and past the Pillars of Hercules or West and to Egypt? 🤔

Intresting to keep an eye on the SP spread % was down to just above 2% and now back to above 6%

Will be interesting to see who or what investing company has changed on ownership in: Westward Investments (8.2% ) and or Askar Alshinbayev (5.9%)?

Rgds Sft

Thank you gents nice post.

For what it's worth when Stena secures a NEW contract they SEEM to be quick to announce them I.e. its good PR and it seems to be done a few months in advance.

If you Google new contracts for the Stena Forth 10th April was the last and that was with ENOG.

IMO (NOT built on Drilling vessels) Because they have remained in the local area if it was North Sea or Americas or Africa South or East (Imo) imo would look to Mob equipment more locally?

Kind Rgds Sft

PotterGL intresting post, do you have a link for information source/ support?

Kind Rgds Sft

Director Dealings

RNS Number : 4474A Chariot Limited

14 August 2024

AP Status as of date above and post his purchase of shares at 6.5p...am I missing something in your conversations?

Total holdings 95,967,334 at 8.13% (after dilution)

That does NOT including the 8.2 % (before dilution) he has influence over as CEO of Westward Investments. Although THEY have "may" be doing "some" buying and selling????!#!

IMO DYOR

Rgds Sft

Hey HC,

What do you belive is going to happen to Chariot?

Insolvency, split up and sections sold separately, a further share issue and raise, contract renegotiation with ENOG, completion of FID/ Sanction and project development, Chariot taken over by ENOG as each option has commercial and SP implications.

So if you could inform the bb it would be slightly better than spouting "we're all dooooomed" we kinda all know its a tricky senario and when people invest they should do very good research. It is true research can not fully determine the quality of management and if you want to understand how bad and costly poor management can be to a company look no further than the Lord Simpson (And Mayo btw) and the Company Marconi.

https://www.aronline.co.uk/people/archive-lord-simpson-the-man-who-broke-marconi/

I put ALL of it on the shoulders of CHAR BoDs, how it turns out is still not guaranteed it depends on the data supporting a commercially viable asset.

80% success was allocated but one person's 80% is another's 40% if you had done historical searches on drilling success it work at (in some years grouping) at around 22%! So did the other 78% failures also drill with an 50% to 80% chance of success?

I would ask HC if you want to spend your time warning you precived "new nieve investors" off then fine but IMHO it only speculators and us LTH or even LLTH left here now.

Regards Sft

All depends on the Prenup (or Farm in "contract") SB, oil companies have even better lawyers.

BDC, IMO CHAR will NOT receive the 15million unless the project is sanctioned/ confirmed development has been approved to proceeded, given the go ahead to proceed to the next stage equipment procurement.

You are stating (or not, I am really not quite sure) 15m will be received if the project IS or IS NOT proceeded to sanction/ development??? Correct?

I as a few others may believe is that, depending on the contract, ENOG may well be renegotiating options, BUT again as before the failure of the Anchois-3 drilling campaign SHOULD have already been project risk assessed by both parties and contingencies SHOULD be in place. It may be gated on YES/NO decision trees dependent on the Anchois -3 drilling data and re-evaluation and the Resina Sesmic (although this too should be clear in the contract for contingencies, but it is stated it is part of the original farm in).

Sft

Okay BDC, so are you are saying / believe that we will receive the 15m if we do NOT Sanction???

I fully agree KnC

Rgds Sft