Member Info for Surfit

Also
So they have offloaded 4million odd number of shares over say from (peak on SP graph) last Thursday to today with SP falling 11.8% aprox due to that selling?
So no sure if anyone can access records to see what the volume has been since last Thursday?
Rgds Sft

They opened the door and found that the cat was dead!
Failed assessment of well geology
Failed drilling campaign and the significant costs
Failure to adequately communicate planned shutdowns in interviews (creating more productive "million a day" time scales)
Then an extra grab in a "value creation scheme(s)"
Now this.....smacks of ignorance and arrogance. Kistos are not offering in anyway enough Serica Energy for ii's to go for it? So if his war chest is so empty, what's the idea? There has been no targeted advertising to investors. All you can assume is he had approached a number of them with another offer to sweeten the pill?
It really strange; AA has done well to get Tulip and fantastic with Total and Greater Laggan, but his refusal to not acquire out side of the Northsea, has left hi.e with only expensive options, when there are other significant , cheaper opportunities else where (CHAR).
I do get his point in that the UK/Euro zone is safe(er)(well relatively i.e. at time of writing).
IS a retrench coming, apparently Schroders think so?Fully agree KISTOS is earning too much for it to be overly deep
BUT
Kistos do need to replace what their extracting and all that there is FEED for greater Laggan expansion at the moment and Kistos need Total to agree also.....
All very interesting.
Rgds Sft

Good thoughts CEO.

Hey Nick,
Just keep to your initial luck on finding CHAR that early. I came in after the Stena Drilling results. One thing I will say a while later I was actually on the Spey and the curtail of drilling was not quite as is the official story. Nonetheless CHAR are still an excellent find but the reality is SANCTION is all that matters.
A lot got very hopeful that the conformation of the CPR was going to be the trigger....not so.
My thoughts are...investors have concerns about (as another has raised) is what are the real financial benefits after the costs (build, pipeline, Processing plant, more pipeline, morroco gov pricing and where Adonis will divert money to other "investments) one caveat I have is: the bigger the partner the better we will be imo. TotalEnergies are my preference. Kistos (I am an investor) are not real operators and are buys of assets only (AA History).
All my speculations only.
I am in to CHAR 450K+ Shares. They have no track record (Adonis) so it's still a penny share atmosphere.
GLA
Rgds Sft

Phila,
This may help you, find truth?

https://www.ashurst.com/en/news-and-insights/legal-updates/rockrose---the-english-high-court-finds-unqualified-right-to-remove-the-operator/

In a recent case, Taqa Bratani Ltd and Others -v- RockRose UKCS8 LLC [2020] EWHC 58 (Comm), the English High Court rejected arguments that a right permitting joint venturers under an oil and gas joint operating agreement to terminate the operator's appointment was in any way qualified......

Rgds Sft

Hi Graham10k
"The bull case being promoted here daily by us retail investors isn't replicated by the big boys who really matter. Why?"

The "why" is interesting, as you say we, the invested, see the benefits....but what is/ could be the "why" not?
The only reason I can see is that ii are not speculative on penny share companies. Not being privy to what are the ii broker triggers for investing, that is my only conclusion?
PANR is an interesting example on how that company and the sp has grown, the did attract speculative investors...maybe due to the US market feeling safer investing up in Alaska. Morroco may feel more risky (North Africa politics +)
Any thoughts or do you think we are all missing something else?
Rgds Sft

Yep, thank you Aj
Rgds Sft

Hi KB,
I am not sure even the CPR will significantly boost this sp presently. The volume getting traded is low
11th March 22 (from site)
From CHAR website
https://www.chariotenergygroup.com/investor-centre/aim-rule-26/
No change and (again thanks to poster for shareing link last time)
Hargreaves Lansdown Asset Management 14.3% Interactive Investor %11.9
Westward Investments (Adonis Pouroulis – Acting CEO) 10.3%
I can not find where Adonis involvement is recorded in the above company.
What is interesting is the Asian investors in such a small one?
https://uk.globaldatabase.com/company/westwood-investment-uk-limited
Halifax Share Dealing 4.8%
Barclays Wealth 4.2%
YF Finance 3.1% (that recently changed)
Total Board and Senior Management 10.8%
Total Is 59%

So ignoring YF Finances change 49% still out there, but no one is building a position that seems sure?
Where is the other 49% scatters amongst 49 1%ers, a 100 0.5%ers none of whom would be required to declare at those <0.5% levels correct?
I still feel surprised it's not caught the eye of more ii's but maybe they to have established there position at a good price and are now waiting for the FID (Morroco) or and other significant plays hydrogen/ solar developments?
Is it wrong to be fearful just because the SP is not leaping forward due to lack of trading/ swapping of shares YES if the company is dormant, stagnating (imo) NO when a company is in very significant growth, very significant assets base and experienced and reputable partnerships getting signed for developments of proven (final proof CPR for crossing Ts) asset base, very significant growth planning in the energy sector that is hitting the right environmental requirements. Just rather frustrating.
What of this retrench, well imo smacks of some companies having a bit too much knowledge of the financial planning imo....there lies my only "Cassandra" thoughts. If there is, then who and that leads to character doubt.
Rgrds Sft standing by on news on investors/project finance that imo is the next decent boost.

Really do not understand how the SP is at this price and why there is not greater ii take up.
I know lots of funds are being forced, due to green investment requirements, to steer clear of OnG but CHAR fit the criteria well enough it would seem.
Appreciate it is still away, away from sanction, and can only guess that the risk profile pre CPR and pre project funding is still outwith of the main ii's risk criteria/ acceptance profiles?
As others have said, CHAR must be on quite a few oil companies profile and TotalEnergies is my guess, for the main partnership.
Rgds Sft, standing by to stand by.

Thank you Ajilimon,
I had been looking to find a definitive conformation of CPR instigation and maybe squirrel out which company but I could, and you have confirmed, there is nothing posted by Charriot.
That clear that up for me, thought I had missed something (not at all unusual for me).
Rgds Sft

From below we can see the RNS time lines from find to
Post-Well Analysis with that March RNS also stating that assessment is ongoing.
Aprox 2.5months between them.
I can not locate on the chariot website what date they confirmed the appointment of a CPR...can anyone provide a link.
Sorry if it's been supplied before..

31st Mar 20227:00 am RNS Post-Well Analysis on Discovery at Anchois-2
".......Net gas pay estimates for Anchois-2 well, based on further interpretation of the well data, have been upgraded to approximately 150m from the previously announced preliminary analysis of greater than 100m, compared to the 55m in the original Anchois-1 discovery well.......
.........Further analysis is ongoing on the well data to understand the positive implications on gas resources, and scale and economics of the development......."

18th Jan 20227:00 am RNS Completion of Successful Gas Drilling Operations
10th Jan 20227:00 am RNS Significant Gas Discovery at Anchois-2 Well

Rgds Sft

I think its probably best to not worry on what you can not change. Looking at Linda's pedigree she is well versed in what EIG want to happen with HBR.
It just trying to work out how EIG intended to make money from this new form of their cash cow?
It does not seem to be via sustained share growth, so how is it, are the part of the loan process, are they making sufficient by trading the share? (Unlikely). Remember unlike when Chryasor its now a different vehicle, so how.
Linda Cook will know for sure, she still is EIG imo.
https://www.google.co.uk/amp/s/amp.theguardian.com/business/2022/may/11/ten-biggest-north-sea-oil-and-gas-bosses-pay-rises-to-54m

Rgds Sft

Stocks not "sticks" spell checker makes me sound like I am a policeman from "allo allo!"
Rgds Sft

My cash (only applied for what I was allocated) has gone from my ii account: No other change.
Interesting trades being logged on LSE
# of Trades 276
Vol Sold 9,132,615
Vol Bought 2,346,598
Must be profit taking by some institutional investors, they as others have said know a bit more than us.
But has been intresting to see the price fall as some (more experienced in this type of offering).
Still very happy to wait for some good results of the CPR.
It is still very interesting to see how these sticks are played.
The less experienced (I include myself) will just hold fast. Its too good a project not too imo.
GLA
Rgds Sft

Thank you Jimmy for you continued input. Greatly appreciated.
Very good to see some information on funding not only the Gas assets but also a good indication on the renewables (30% equity raise mentioned, when would of some importance).
15.strategic partnering on development and exploration acreage has commenced.
17.banks to provide debt project finance are Soc Gen and AFC
20. A lot more information on the renewables. Firstly an example of the economics was provided. 50mw project has capex of $50 million with 70% debt finance and 30% equity finance.
The combination of gas (quantity and quality) and renewables, imo, will make CHAR a very attractive and very investable opportunity to ii. It sits very well for current demand, potential reserve expansion and Co2 compliance.
The company could benefit significantly on an increase its corporate media communications to the ii community.
CHAR is looking very good and as you say "Happy days"
Best rgds Sft

Hey Fernan, agree but my remembering Adonis has 85,243,102 shares, raising more cash will not be the done too lightly? He did of course not pay 18p for all of those. Nonetheless it will be VERY interesting to see if he takes his full % allowance at this 18p offer.
If he does/or does not, either way could be an interesting indicator on how he see the future funding requirements going? So watch this space.
Let's hope these renewable project developments do not need significant cash injections until Chariot has some production income generated cash?
I also think taking out loans for project development and using the gas as a security is the way to go...
If there is another Q&A opportunity at the next GM then we must try and pin them down on such queries.
Char have been pretty good on the RNS plans but very quiet on how it's going to be financed. So it's down to us to question when/if we get the opportunity.
It's not just us that need the information it's ii, but large investors get a seat at the table, we of course do not.
Rgds Sft

He always interviews and projects really well. There are very few if any that always state that on of Kisto's goals is to generate returns for their share holders. It was a really good touch on "investors hard earned money"
But big expense on the white elephant drill and generating return for investors, he is the biggest, should not mean increasing his return by way of incentive schemes also.
Why not let his employees by shares in the company at a discount, let that be their incentive.
This other way feels like a cookie jar raid dressed up as Santa.
Still interested in his next moves though, a few challenges about: Lack of available assets for reserves increase (unless Total want to on the new asset) and Taxes.
Rgds Sft (Still a fan): but his last Malky interview got me remembering the old oil field say "If their lips move they're........."

"The Company announced on 19 May 2022 that it had conditionally raised gross proceeds of US$25.5 million (£20.4 million) through the successful Placing of and Subscription for 113,333,334 New Ordinary Shares at the Issue Price of 18 pence per Ordinary share"

The reality is this was sprung on us by way of RNS and closed out immediately. This meant that certain investors for this closed investment were privileged to information about the placing price . How many people/groups and who are they and more importantlywhen was the offer made to them? It is obvious ( in my opinion) that the information was disseminated to some investors as we can see a clear SP falling trend from approx. 4th of May.
This is what seriously concerns me about this CEO/Director and his team.
It smells in my opinion. I had jumped from RKH due to a robber manager in the form of Sam Moody, who has never bought shares in the company only allocates himself them and takes a $300k salary.
Respect that Adonis Pouroulis invests in CHAR, but when I bought in I raised the question on future funding for the project on the bb, I wish I had raised it at the Q/A.
On the flipping avoiding borrowing could be considered good as debts can get sold on and you only have to look at Premier oil for how badly that went.
Nonetheless less this raise in my mind was quick for a "group" of unknown individuals that received it at a very good lowered price.
Rant over
Rgds Sft

Here a link to the company and the Xlinks project
https://xlinks.co/morocco-uk-power-project/
And here the time company given line:
"The connection agreement with National Grid allows Xlinks to start transmitting through the first 1.8GW system by 2027. The UK Climate Change Committee (CCC) says the UK needs a net-zero electricity network by 2035 to be on track for a net-zero economy by 2050."
If it works out, it could be a good thing for the UK, still it remains a foreign location for a UK energy supply?????
Gas is still required for Europe for a good while. No threat to CHAR Moroccan project.
Both are good for Morocco though.
Rgds Sft

Hard to say but my feeling is with markets still fragile over interest rate raise, Monday being Putins parade day (and the potential for expanding his commitments to the invasion(s)) and China virus senario still very wobbly I ,imo am not confident...although saying that as soon as it drops a bit too far..it does trigger buys as people want in before CPR is issued?
Tomorrow could go down a bit further, until the kind and caring Russian "announcements" have been made.
GLA rgds Sft