Member Info for whimax

Hi BDC.

I think my concern would be, what if they drill and miss? This section from this mornings RNS could be construed as both positive and negative during and on shore drilling campaign imho.

As a layman, if the new license is “geologically similar to Anchois” and the first 2 onshore drills “miss” what does that do to farm out negotiations?

“overlooked, shallow, conventional gas play, which has already produced gas in other areas onshore Morocco, and which is geologically similar to Chariot's offshore projects including the adjacent Anchois gas discovery”

BDC, I don’t think Chariot will, or can afford to either wait that long, OR take that chance. More likely the signing of the Farm Out has been delayed slightly, until this license was awarded, as the 3D has more than likely validated, even further, Anchois/Lixus.

Possible Surfit, but I think unlikely the bank would require Chariot to obtain a new licence which may or may not come into production before the one the funding is actually for. If the Bank are lending money for a project of this size, it is on the merit/basis of that asset, and on their assumption that it’s a stand alone safe investments.

Also, re market reaction, the market will react when the deal is signed (in whatever format that will be) and the uncertainty of it NOT being signed is removed. At the moment there is still uncertainty, and, as discussed before, institutional investors will really only get involved when there is zero risk, even if that means waiting till SP has doubled. As long as they know it will double again, they don’t care.

Surfit, IF “the banks” (or anyone else for that matter) lend Chariot money for Anchois there will be very strict guidance in the contract as to what that money can be used for. Unauthorised use of funding (if that what you are suggesting) would/could result in funding being withdrawn, along with severe penalties.

Banks will also only be “lending money” for Anchois, on the basis of due diligence on Anchois. IMHO

A new research note from Cenkos today. The firm state: “The combination of significant near-term newsflow and upside to our target price makes for an attractive proposition – BUY”. Cenkos have increased their TP to 65p (from 60p), a c4.3x the current SP.

https://twitter.com/chariot_energy/status/1686268288228012034?s=61&t=n_2hkWpElgdgvzOpn_RbHg

I doubt it lol

Yes, they’ll show in your account, and money will be taken, but will be adjusted down (possibly to zero, and money refunded) depending on Open Offer uptake.

You’re not just being realistic, you’re being down right miserable and you jump on every post that shows a bit of excitement or positivity. You’re relentless, it’s boring, and it’s tiresome.

If you like p155ing on your own chips, that’s fine, but a bit less p155ing on everyone else’s would be nice, just for a change!!

As Soup says, we’re trading almost 50% higher than we were a few weeks ago.

Why not just let people get a little bit excited FFx.

Seriously, you’re such a feckin misery, all the time!!

People do realise that by crying “P & D” EVERY time the SP moves up, they are probably only compounding the problem, by possibly spooking newer investors into selling earlier than they otherwise might, right. Lol.

🤦

Smyth, to be brutally honest, you’re equally as bad.

2 cheeks of the ar5e as far as I’m concerned.

He can’t help himself Ianfer. He finds it utterly impossible to say nothing, even though he has nothing to say!

Nick, in short, Yes, it probably would.

These rules are very much open to interpretation and abuse and it is up to the individual to declare his holding (if he doesn’t, there is little recourse). But it is entirely possible (based on trading patterns and share price shenanigans over recent months) that Askar has had a 40m buy order in at an average pre-agreed price, that has just been completed. Also, with the General Meeting next week (if he has taken more at the 14p placing) he will be keen to disclose his current position, prior to adding more on 2nd August.

This Notification/Holding RNS has nothing to do with the placing announced on 10th July. The 14p placing has still to be ratified and all new shares being issued are conditional upon that, so cannot be allocated yet.

From the Placing RNS “The Placing, the Subscription and the Open Offer are each conditional, inter alia, upon the passing of the Resolutions by Shareholders at the General Meeting, to be held at the offices of Memery Crystal at 165 Fleet Street, London, EC4A 2DY on 2 August 2023 at 11.00 a.m”

As far as I understand it, 3% is the Threshold at which a holding should be notified to the market, BUT, from memory, there is also a rule stating that you do not need to notify the market until you have finished accumulating, as far as INITIAL position is concerned.

So back to my earlier post. If Askar received 2.9% of the company at the 18p placing (no notification required as under 3%) and continued to accumulate after that date, he doesn’t need to notify until he’s finished. IMHO.

Agreed NewK. Aiming for 10% most likely, imo.

Possibly took a position at the 18p placing at just under 3% and been adding ever since.

Significant position tho, and very encouraging.

Hopefully sticky hands.

Askar Alshinbayev is a Founding Partner of Meridian Capital Limited, overseeing the investment management of its diversified portfolio in real estate, hospitality, FMCG, infrastructure and natural resources.

https://www.askaralshinbayev.com/

Smyth111 “Its an open board people seem to forget”.

You do make me chuckle Smyth. The fact you don’t see the irony in your statement says it all, unfortunately.

Also, it’s not an AGM in August, it’s a GM to ratify the placing, so I doubt there will be any chit chat or Q & A.

The AGM isn’t until 7th September.

You keep repeating your same concern Surfit, but you/we have absolutely no chance of getting the info you crave, or the commitment you seek on dilution, until Anchois Farm-out is complete and FID is sorted. Until we know income and expenditure required from/for those, it’s is virtually impossible for the management team to allocate funds to other parts of the business. Until they can do that, they cannot know what additional funding is required.