Member Info for Wiggly

BRV, I have also listened to the proactive interview several times and I am convinced news in imminent. Even without that interview though, I just don't think that SLB would have signed up without doing some in-depth DD, both on the technical side of things and funding. They must be privy to details that we are not (yet) or would not have signed up on this agreement.

SLB obviously have assurance that funding / partner is in place or would not have signed up until such time that funding / partner was in place! Why take the risk on a project that may not get started?

Still very little reaction following the update last week! Personally, I have never been more certain that H1 2021 will be transformational for CHAR shareholders.

There is circa zero buying/selling here today (13 trades), which is unbelievable considering last weeks update and what now looks to be nailed on....

I am still hopeful for farm-in news this week.

The algo is buying at 8.98. CHAR has always (from 2010) had a huge amount of A trades. Why is this?

Exciting. AP promised some quick fire RNS's this year! Hopeful that we get the biggie next week!

Traveller, I do not expect that we will see the heady days of £3 again... don't bet against it!

CHAR previously reached 300p on nothing but hope. Ok, we have had some dilution since then (not that much!) however during 2010 we had no proven resource, only estimates. We now have a very valuable asset (NPV $500m) with huge upside potential and a development partner onboard. We also have acreage elsewhere (Brazil, Namibia) that for obvious reasons has been out of favour for 5+ years HOWEVER, activity is starting to pick up in these locations and there is high chance we are entering a new O&G super cycle with high oil prices for years to come, which will really increase/accelerate activity in these locations.

The sector will get hot again, as it was in 2010, and some good news here will really light the share price.

With minimal dilution, CHAR have not only been able to stay alive, but also created a situation that could return investment for those locked in from a decade ago!

For what is it worth, with the amount of shares I have been able to accumulate sub 10, I will be long gone before 300p is reached however, I would not be surprised to see a crazy valuation again in the near future.

Munchbox, your call looks to be on! 9p incoming and still low volume.

Hi Micro,

Based on the comments from the CFO this week, coupled with the on-boarding of SLB as a development partner (which I dont think would have happened without a partner for drilling being secure) I think we are very, very close!

Worst case, we get totally low balled and have to accept an offer based on 50% of current audited NPV10, thus $250m. Offering 50% of our stake would still net $93.7m, which would facilitate 50% of the drill costs (would be less than $25m?) AND provide a huge cash pile (~$68m) to transform the business in line with the new ventures discussed!

Exciting times to see exactly what deal they are able to execute.

Ok, here goes...

NPV10 @ $500m (which is the 75% for Char). Revenues of $1.5b, Capex repaid within 2 years. Huge upside potential (8 x Anchois!!!)

On this basis, CHAR could concede 50% of its stake, reducing to 37.5% / offering 37.5%, in exchange for ~$187m cash injection, enabling 50/50 split on the future exploration/appraisal/production drilling.

This would put a rocket up the shareprice and fair trading value would be 50p, with massive upside potential.

Feel free to correct the numbers.

I meant to add - Fingers crossed as the terms are likely to provide, at a minimum, funding for the drill and, I think very likely, cash to cover our costs in Morocco up to this point, thus securing sufficient cash see us through to debt finance - meaning no dilution. However, this may be a significantly lower vs what we are actually targeting here, based on the value of the asset. Terms could be far greater.

The talk of new ventures is very intriguing. We do not have cash to invest in new ventures....unless the terms agreed with Partner (s) in Morocco surprises the market - which they very well could!

Per the words of AP, A GAME CHANGER!

Lots to be excited about here and good opportunity to build a large stake while the market is sleeping.

Agree with the points below and suspect SLB will have had insight (under strict NDA) with regards to status of the current partnering discussion prior to signing off on the collaboration agreement.

From listening again to the previous CFO interview with Proactive, he confirmed that we have received 2 separate offers to farm out however they were seen as 'Cheeky'. As these offers came prior to the 148% resource upgrade, which itself has generated significant additional interest (AP stated that this was a game changer) then I suspect we have now received acceptable partnering/commercial offers (latest CFO interview said that discussion were progressing very well) and we are currently finalising T&C.

This is my take anyway.

Fingers crossed.

Stop losses were triggered this morning below 170? How many sold in panic because they are here for a quick buck/trade?

Anyone with a timeline beyond Feb can see that this Business Update is fantastic and fully in line with research/forecasts for the year ahead.

Cant deny that this week has been a disappointment so far, but that is simply due to the press coverage over the weekend, which is no fault of AVCT.

However, with a visual read at 10m (Huff post cited a super fast test with results in 5-10m) and acknowledgment of price point at ~GBP 5, I think there is enough in this update to validate that AVCT is central to the UK Gov plans and thus I think that a UK Gov contract award could arrive at any point.

I think this is worth its own thread. The RNS states the following, which does tie with the Huff article referencing 5-10m super fast test.

The AffiDX™ SARS-CoV-2 Lateral Flow Rapid Antigen Test detects the SARS-CoV-2 S1 spike protein and has an analytical limit of detection (LOD) in nasal swab samples of 50 pg/ml. This can be achieved with a visual read time of 10 minutes. The test line is clearer if a longer read time is used, therefore a read time of 20 minutes has been adopted as the standard for this test

If you read the full update the visual read time is 10 minutes, which becomes clearer the longer read time is used.

Hi SHC,

Yes, you could be right although you never know, SLB SPM might be interested. I do not know how active SLB are currently in Morocco, but they have made significant investment and would benefit from an increase in drilling activity (on or offshore)

The more I think the more this makes sense. If CHAR are not actively engaged with SLB ISP division re drilling they need to get on the phone and thrash out terms. If Subsea Integration Alliance are on board then the entire SLB is surely interested! Getting a big partner like SLB would also support favourable debt terms!

I wonder if SLB will also partner / fund the drilling ? It could explain the lack of detail in the Subsea Integration Alliance RNS? SLB did similar with Sound Energy in Morocco so the question is, with commitment shown from Subsea Integration Alliance, why would SLB not take a stake and fund the drilling?

https://www.proactiveinvestors.co.uk/companies/news/120837/sound-energy-signs-three-well-deal-with-schlumberger-in-morocco-120837.html

Sound Energy (LON:SOU) has signed a deal with Schlumberger that will see the oil services giant carry the majority of the costs of drilling three initial wells onshore in Morocco.

The deal relates to the Tendrara licence where Schlumberger has agreed to fund 80% of the investment in the first hole and 75% of the second and third.

After that the partners will bankroll further field development on a 50-50 basis.

Schlumberger, meanwhile, will earn half of Sound’s interest in the net profits from Tendrara.

Question regarding the collaboration...

The RNS does not discuss how this collaboration will be funded. Are we to assume that SLB are supporting free of charge? Does anyone have any insight into how this deal works financially? What is in it for SLB?

Chariot and Subsea Integration Alliance will adopt a "One-team", integrated and collaborative approach to safely fast-track first gas to maximise the return on investment.

The scope of the Agreement covers:



· Front-end engineering support and engineering design work.

· Engineering, procurement, construction, installation, pre-commissioning and commissioning work.

· Operations and maintenance of the facilities.

· Commitment to ESG and the importance of contributing to social development through the creation of direct and indirect jobs in Morocco.

Most majors now printing cash again and will be generating huge FCF during 2021 if oil remains in this range.

Oil looks likely to go higher also, with many now forecasting $75 average for 2021. Not only will this make investment in Morocco easier, it also significantly improves the investment case for the entire CHAR portfolio, which has been out of focus during the slump over the past few years!

I think we are at the start of something special.

Yes, it is puzzling to say the least however, as per previous comments, I believe further news will follow imminently.

I have listened again to the CFO Proactive interview and the comments are quite telling....

Re partnering;

- Needs to be careful with what he says (suggests very close!)
- Very pleased with how discussions are progressing (good!)
- Key to discussions is protecting shareholder value (suggests offers received are under negotiation)
- Look to update as/when they can - thanks holders for their patience (suggests not much longer to wait)
- advanced on planning for drilling of appraisal well (I think they are driving this with partner input)
- Engaged the market for availability of rigs - available to use this year (Don't think they would be doing this if points above we not aligned with my assumptions)
- Working on well design (as above)
- Well will kill 3 birds with 1 stone (appraisal, production and exploration) - discovery sands (A&B) +drill deeper to undrilled low risk gas sands + suspend well as producer (This will generate significant excitement on the market!!)

GLA