Member Info for whimax

Spread Bet Rollover day on IG today so that may have had something to with the slight pullback this afternoon.

Maybe not, but maybe.

You’re a delusional fkn liar HarryCarter!

24hr delay. Only fair they knock 8% off the SP for that 👏

Fernan, you’re treading on extremely thin ice with these nonsensical lies and misleading posts. You already had to have one of your posts about me taken down earlier in the week, I expect this one will go the same way.

What exactly is your game here?

I’d be very careful if I were you.

Yeah, come on Surety.

You should know by now that it’s only Fernan that’s allowed to make any assumptions when it comes to this deal and any subsequent calculations.

Yes, 100% ICE888. It was in the original placing/OO rns

No, I certainly am not!! And I suggest you have that post removed before I have to take it further.

Unless of course you care to find that post and share it on here in the next 5 minutes.

I’m ok with the deal, but you are being misleading on the terms of it, and painting it negatively with your assumptions and guesswork.

I’m just calling it out, that’s all.

You’re changing your argument AGAIN Fernan.

You mentioned “the consortium deciding to increase CAPEX to increase production” (drill another well for example) and said Chariot “would be expected to pay their share” of CAPEX on it, “but wouldn’t be entitled to any upside above their 4000bopd because of “cap”, or words to that effect.

That’s just utter drivel. You want your cake and eat it!

You’re changing your argument now Fernan.

You originally said Etu could force Chariot to contribute to an increased CAPEX but for zero return on their 4000 bopd. That’s absolutely nonsense.

IF CAPEX is increased, IMO Chariot will be given the opportunity to contribute to the tune of 10% in order to maintain their interest by the same in terms of bopd. If they can’t or don’t want to, that’s a whole different scenario.

With respect Fernan, that’s absolutely absurd, and completely false.

There is absolutely no way on this earth Chariot have left them exposed like you suggest. I suggest you contact the company and get clarification before you dig yourself a deeper hole.

You’re suggesting the Etu/the consortium can increase CAPEX, force Chariot in to paying 10% of it and then NOT increase their share of output accordingly. Read that again! It’s an utterly farcical statement! 😂😂

But equally as likely (if not more so) to be as correct as your wishful thinking, no?

And your thoughts on forced increased CAPEX? As I say, you can’t have it both ways. Either they’re in the consortium or they’re not. 🤷‍♂️

Fernan10

Didn’t have a lot of time yesterday so would like to ask you this.

You say that neither CHAR or Shell Trading are NOT “part of the consortium”, yes? In which case, how (or why) would they be able to be dictated to in terms of additional CAPEX by the “consortium”?

You can’t have it both ways.

IMO Chariot are currently (or will be) involved with (in name only) a 10% interest which currently equates to 4000 bopd (from 40k bopd total atm). Would it not be more obvious to assume (since this is what you like to do) that “not being part of the consortium” gives them the option to retain that 10% interest if they wish to (or can afford to) and chip in with 10% of any future drilling or workover which might increase the output, and therefore ther bopd.

The 4000 bopd “capped” figure is clearly an illustration of where we are now and is the basis of the current arrangement in order to calculate CHARs current “economic interest”. It is not there as a blanket or hard cap and will be moveable up or down depending on future flow rates and whether CHAR want to maintain their 10% interest.

All of this is why thay are referring to our share as an economic interest in 4000bopd rather than “our 10%” imo. If we do not wish to get involved in future CAPEX our %age interest will fall, but the 4000 bopd cap would remain.

And your post at 13.10 is even more ludicrous and fanciful than your previous one. 😂😂

Please stop! 🥴

Lol Fernan10, and you don’t think Chariot (or Shell Trading for that matter) have thought of any of that 😂😂

Nice try, but until you stop making up scenarios and hypotheses to suite your negative agenda I can’t really take you seriously..

Time will tell, and you might turn out to be correct . I highly doubt it tho, (particularly based on the amounts invested by AP and whoever else is involved in this raise), but if you are I’ll come back and apologise. Until then tho, it might be advisable to avoid second guessing everything, unless you can do it with a bit more balance. GL

Well you can only acquire a producing asset if you have something to swap it for, or funds to buy it with.

What do you suggest they use as collateral in such a deal, particularly whilst Namibian and Moroccan Govt’s are in a stay of flux?

Starbanker1’s comment at 8.28 this morning said exactly that about the placing price 🙄

Seems pretty obvious to me that they wouldn’t do a placing to raise funds for this deal until they had reached an agreement on, eh, this deal!!

These things generally take longer than 5 minutes to put together (months usually) and they’re not going to do a placing of this size and level of dilution on a whim, or unless they’re absolutely sure it’s going to happen.

Absolutely ridiculous to suggests the BoD “wanted” to do a placing at this level rather than higher up if they could have 🤦🏻😂

Looking forward to it Fernan10

If you could stick to the known facts when providing your explanation, rather than resorting to hypotheticals to push your own narrative/agenda, that would be great 👍🏻

I think most have probably seen enough since yesterday’s RNS to conclude that Fernan10’s posts/workings/conjectures should, at the very least, be taken with a huge pinch of salt.

Very eloquent and posts with a degree of knowledge on financial matters, but I’m yet to see anything that suggests that he’s posting from a position of impartiality, and certainly nothing to suggest he’s ever been invested.

There are plenty positives in this deal, it’s telling (imo) that Fernan10 hasn’t yet posted about any of them.

I suggest you ask the Company about that Fernan10, before attempting to put yet more of your negative spin on this deal.

Just a suggestion 😉

Are you just sitting there in your basement trying to come up with this stuff for fun, or do you actually have some kind vested interest here?