MM
you have greater faith than me and I dearly hope you are right.
Thanks
Jiving, ATG,
You are quite right about the legality of an MoU but I think we have no chance of a full investment approval. I know first hand the difficulty of sticking to a timetable when lawyers are involved.
In my experience with this BoD over the last decade, we will miss both but I sincerely hope you are right and I am proved wrong.
Good luck both.
I think we could get something on Tues or Weds. Thurs makes no sense.
Whilst I am sceptical it will be an MOU, simply because it cannot be timed to suit us, I do think it would be reasonable for the CEO to provide an update after 3 months in post.
GLA
I'm afraid I won't be surprised if an announcement of this significance would be delayed as they always take longer than anyone expects, but I would certainly hope for an update of some sort in March.
GLA
Surety,
I think the AI has produced a very balanced summary.
Thanks
BDC and Theobold,
I entirely agree and I have done many partnerships and acquisitions over the last 30 years. Mrplow is being very naive on many levels for a number of reasons:
1. Char had many offers to partner and also offers for a complete buyout. Energean trying to negotiate a better deal runs 2 risks. At best, they get a better deal but go in to a long term partnership with one side feeling screwed. At worst, they lose it all together and Char go elsewhere.
2. A partnership needs to be equitable to work effectively. Both parties both feel they have that with the current arrangement and have been very public about their views.
3. If they wanted a greater slice of the action they could simply start acquiring char shares on the cheap at these prices.
GLA
Extrader,
Interesting read. I was particularly pleased as my other major holding is chariot oil and gas. Apart from a major gas discovery, the other pillar to their business is transitional energy and they are actively involved in green hydrogen projects.
Chariot and zioc seem to go hand in hand
GLA
Great find
Thank,
MM
I for one value you posting such articles which I do not have the time to research. Keep going.
Thanks veteran, useful info when you are on a white knuckle ride like this.
Nibj,
You might want to look at Chariot Oil and Gas. That's my other 10 year saga but it is coming to a head this year with the realisation of a large gas discovery (Anchois).
GLA
Pure dynamite.
GLA
Can you send the link for this site?
thanks,
ICB,
You have merely stated some useful facts. What anyone decides to do with it is a personal judgement call and you don't need to justify to me or anyone else as to the accuracy of market analysts.
Thanks for posting.
Marcus,
Totally agree. Anyone who thinks the timing of these types of agreements are to coincide with a conference is in cloud cuckoo land.
My experience of these types of events is that they are nothing more than talking shops and a bit of PR.
Would love to be proved wrong.
GLA
ATG
Thought about nothing else all weekend !
GLA
But this is still only an MOU and is not a legal commitment. That's my only concern.
One more thing. I don't think we necessarily need to get to the FID for the price to move. There are lots of key milestones such as the GSA being signed, results of the next drill or flow test etc... that may well trigger a price increase.
I had hoped that this first announcement would trigger a rise but it hasn't, so I am very much in the same camp as everyone else, hoping that the next RNS will take us forward in a large way.
GLA
It is not a transformational deal. It is an agreement to work towards FID and a transformational deal.
To put it more succinctly, what they have announced is, legally, not worth the paper It is written on which, in my opinion, is why institutions have no interested at present. This could still fall flat on its backside at present.
Kb,
Nothing is legally agreed yet. The MOU is nothing more than an indication of intent. Note the legal definition:
A memorandum of understanding, or MOU, is a nonbinding agreement that states each party's intentions to take action, conduct a business transaction, or form a new partnership.
IMO, the real rises will come when the legal contracts are signed and not before although I would love to be wrong.
GLA