Member Info for Surfit

No Fitty drinking for him then, Maybe Cafe Soc or Simpsons sitting along side Rodney Stewart.
Rgds Sft

Peel Hunt are out.
Wonder why? Would be nice to include a bit reasoning behind the change.

Rgds Sft

Having found and confirmed the find (Gas) this time, is a big help I would imagine.
Rgds Sft

Interestingly:
Europa October 21 2020:
Since the award of the Licence in November 2019:
Of the 30 prospects and leads identified to date, 14 are prospects, each, Europa estimates, with mean resources in excess of 150 mmboe. These prospects have stacked reservoir potential and include a wide range of structural styles including 4-way dip closures in the case of the 827 mmboe Falcon and 204 mmboe Turtle prospects. Europa has assigned a geological CHANCE OF SUCCESS to these prospects of 20-35%.

Europa 23 November 2022
"Its has been a difficult decision not to progress to the First Extension Period as Inezgane offers significant exploration potential. However, progressing to the next stage would have required Europa to commit to drilling an exploration well, which we could not justify without obtaining another partner. We have been working tirelessly with advisors to secure a farm-in partner but the market appetite for offshore DEEPWATER OIL EXPLORATION* is currently very low and we have ultimately been unsuccessful
SFT NOTE* with a 25% to 30% chance of success

Rgds Sft

Many thanks Jimmy, nice to see a conformation on timeline too.
In addtion VERY reassuring; in particular Charriot anticipating the potential for delay, clearly presenting such and the consequences (18 months foward of 2025) of missing in particular rig/vessel slots (applies to all manner of equipment too I would imagine). CHAR obviously have some concerns and with hopefully securing monthly meetings with (importantly) the "right" people to expedite any potentials for unnecessary bureaucracy.
Great Post, thank you.
Rgds Sft

Ownership Breakdown
Institutions 1.7% 16,133,696 shares
Private Companies 8.9% 85,143,102 shares
Individual Insiders 9.6% 92,145,383 shares
General Public 79.8% 764,580,240 shares

94.8% Undervalued
Current Price UK£0.15
Fair Value UK£2.98
Below Fair Value: CHAR (£0.16) is trading below our estimate of fair value (£2.98)

Stable Cash Runway: CHAR has less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: CHAR has sufficient cash runway for 1 years if free cash flow continues to reduce at historical rates of 2.3% each year.

Short Term Liabilities: CHAR's short term assets ($25.3M) exceed its short term liabilities ($6.4M).
Long Term Liabilities: CHAR has no long term liabilities.

Summary
REWARDS
Trading at 94.7% below our estimate of its fair value
Analysts in good agreement that stock price will rise by 275%

RISK ANALYSIS
Shareholders have been substantially diluted in the past year
Makes less than USD$1m in revenue ($0)
Has less than 1 year of cash runway

I have no idea if Simpley Wall St's analysis is respected, if you Google the reviews it does well?

Rgds Sft

I am not saying that it's (renewables power venture) not a worthy of pursuing of course.
I.e. ref update on minings renewables
"This partnership is building up a pipeline of African mining power projects and looking to collaborate on other non-mining energy projects and transactions across the continent.
• First project in operation, a 15MW solar project, at the Essakane gold mine in Burkina Faso, successfully
generating material returns.
• Two more projects signed in the post-period and in development:
o An MoU signed for a 40MW solar PV project with Tharisa Plc, to provide power to its chrome and
PGM operations in South Africa.
o Partnership in place with First Quantum Minerals to advance the development of a 430 MW solar
and wind power project for its copper mining operations in Zambia - one of the largest renewable
private sector energy projects in Africa"
Rgds Sft

They seem to be suffering even more from the lack of share purchasing interest?
Char SP does look to be gathering slowly again, our Hydrogen and Renewable arms would make us even more palatable to the anti OnG institutional investors as i am not sure how many pension funds bank are now totally refusing to invest in new fossil fuel projects?
Pity CHAR are not promoting/building a carbon neutral Moroccan off and onshore operation and development. I had asked the question to PR and it was said that the CPF needs a reliable power supply (so there lies that consistent issue on renewable power reliability that every one faces)
"We are evaluating several options for power supply to the CPF, noting that the initial power requirement is relatively small and we must ensure that the plant has a reliable, uninterrupted power supply. This could be supplied through autonomous power generation (running on produced hydrocarbons), an external power supply or a combination of both. The opportunity to utilise renewables will be considered, recognising that the Moroccan power grid has a relatively high component of renewable power generation. During field life power consumption is likely to increase and renewable power supply opportunities will continue to be evaluated"
It possibles also demonstrates just how hard it is to develop a NEW project (CPF) and adhere to the new requirements.
Note: I did comment that if we cannot go that way, do no mines and there plant have a similar issue, which would look odd (to perspective mining clients) when this renewable power generation forms one of CHARs other arms of the business? Which could indicate how far they are really along with that as a viable commercial venture?
Rgds Sft

Well looks like UK the smaller OnG companies are taking a significant hit (7-9%) due to wind fall tax concerns. We are obviously not in the running for that.
Rgds Sft

Got it, cheers BRV.
Rgds Sft

Just checked and MT only has the Maersk Handler there, which is a supply vessel?

Rgds Sft

That's a bit of a suprise as last time they were there it made some news?
July 20 2021:
https://www.offshore-energy.biz/borr-rig-kicks-off-kistos-dutch-north-sea-drilling-campaign/
Rather unusual, which rig are they using?
Rgds Sft

I belive FEED was meant to be completed by 2022 (can't remember if that was on an interview or update/RNS) and FID in 2023
Rgds Sft

Thank you Jimmy, massive respect for your contributions to this board.
Kind rgds Sft

Feels like it would be a tight squeeze (-:
I struggle having a walk down Oxford street: feel a bit like Mick Dundee in NY
All the best Sft

I never new that:
https://www.google.co.uk/amp/s/phys.org/news/2022-09-dinosaurs-survived-co2-extremely-high.amp

Very interesting, rate of change seems to be important. Still it's population growth that is the real issue....just throwing my hat in the ring (-:
GLA
Rgds Sft

But today was good to see
Rgds Sft

They may not have declared, if so it's a fine by FCA.
https://www.shorttracker.co.uk/company/GG00B2R9PM06/
Rgds Sft

I think it's good to have people speculations/ ideas on the current drop.
I have previously stressed the concern of the sp retrench just prior to the last fund raise and also just before the directors share allocation (reported via simpley wall st as an addtional 50.5% added, hence no subsequent raise to the HOPED/speculated 30p post CPR rns).
I remain in, I have to now and based on the avaible information distributed via CHARs RNS's it a damn good project.
It is a bit academic as I presume due to the information why would any one of us sell, if there is bad news released the it would compound my conspiracy theory that there's some one with inside information acting on it. If it transpires we are in for bad news then it would firm up my paranoia and would think that its reportable to the FCA?

I do also ponder again who is selling as would a single large holder changing their position trigger a TR-1 notification? Thoughts anyone?

We have a lot of shares out there, could there be a relocation I.e. 20:1 getting considered....happened with Harbour energy and us RT investors are still suffering from that unexpected and discussed (by HBR BOD).
Still all speculation maybe the Russian investors need their cash back (-:)
It will all come out in the wash soon enough.
All the best folks
Rgds Sft

Hi Fernan, is the Auctus advisors´report available for all to view? Any chance of a link?
Rgds Sft