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Thanks dick up ham for that extremely enlightening and eye opening speech ! First of all , I also take NAV into account but give me an example of an oil company that is currently trading at or above its stated upside NAV!!! Most oilers (of which I own about 12 at the moment are trading at a Significant DISCOUNT TO NAV). It’s not right and shouldn’t be the case but welcome to the oil and gas industry! Theres mega money to be made when the market adjusts and realises that companies should not be trading at such a low percentage of their NAV but for the time being its the Norm in the sector! Other than just blindly following the NAV and investing based on that metric alone , I like to check reserves / bbl. production cost/ bbl! PE ratios, yields etc etc! I don’t take much account of pure exploration punts or acreage because as mentioned you can’t take that to the bank! If it comes off, I’ll think of it as upside ! If it doesn’t then it was never one of my reasons to invest ! Ps: making a joke about medication is not cool ! For some people the struggle is real! Good luck with your investments

Dickup It’s called a discussion board! It’s about discussing different opinions not just about happy clapping, ramping and dancing to the beat of the drum! I never said management said it ! I work in this industry and have been involved in M&A from the drilling side. I’m simply trying to work out the figures ! We have a low case of 25 (of which we have 18%). That gives us 4.5BOE recoverable. Our market cap is currently around £38 million is 4.5 millions boe worth 35 million in today’s market ? That’s $7.8/bbl of 2P reserves ! Rhetorical question!!!! As for the other assets the market usually assumes cash will be spent as working capital and therefore heavily discounts it ! By year end, our cash will be less than half what it was 6 months ago and the company have already stated they will be looking at issuing more shares next year as per the removed AGM resolution (fact)! The market only understands 2P reserves ! You are right the other prospects may well be “figments of imagination” !!! Because you CAN NOT TAKE PROSPECTIVE RESOURCE TO THE BANK!!!! If you don’t know the difference between 2P RESERVES and PROSPECTIVE RESOURCES, I suggest you google it ! As for advising me where to put my money, thanks but no thanks ! Over the past 15 years I have made a very large 6 figure profit by investing in O&G and mining shares and know where to invest ! I wouldn’t touch UKOG with a 200 ft barge pole!

“It’s called research” Wow sensible guy ! That was a very caty comment ! Meo! I did a lot of research when I drip fed ... I didn’t see a comment for management saying we are worth 35 million....

Correct me if I’m wrong but cortina and Meribel are prospective (ie haven’t been discovered yet) ... Verbier has a low case of 25 million and a mean of 68 million ... we have 18% .... so I’m not sure if 18% of 25 million bbls is worth £35 million .. that’s why I was questioning “managements estimations”! Anyway this is AIM and anything is possible

12 weeks away is exactly the point that some have been making ! Unfortunately AIM investors these days define “long term” as couple of weeks lol! Such as the world we live in .... most will hope to chase the next “10 bagger” and come back after the clocks have changed !

Sensible guy when did the CEO say that the price today was “below the LOWEST estimates of oil they have”? What did he say exactly?

Gray bird ... I think you might be right unfortunately! 5 months is a long time in AIM with average punters looking for a quick 10 bagger (by the end of the week or ideally by Monday morning ) ... you know the type who quote “wouldn’t want to be out of this over the weekend” , “ I can’t wait till the 1 pound party” (for a share that is a few pence).... this is a good company with good assets, no debts and a healthy cash balance ! But I feel that the sucker punch delay will keep a few away until at least October time while they chase the next “10 bagger” in the mean time, the share price will continue to drift downward towards 150p IMO ! Some people will also be selling because they are losing confidence in the board for the numerous delays ... once is a mistake but twice is a decision... good luck all

Speaking of Celtic ... where is he actually? Hasn’t posted in a while ! Wonder if he has given up with RRL... hope he’s ok! The signs of a recovery have been starting with quarter on quarter growth ... hopefully that will continue with Q2 results next week

I agree fairdealer20... not ideal to be exploring / drilling at xmas time in the North Sea ! Weather conditions can cause sever delays which adds to the time and cost of the well! Very disappointed by this news ... hopefully they delay things further as you have mentioned! Could see us drifting to below 150p over next few weeks !

Yes me too ! I miss them like a hole in the head ! Blind Fredy could see wheepo coming ! He used his proclaimed “industry knowledge” to try and ramp and get out at a spike ... unfortunately Mr B gave him a good roggering before his devious plan could come to fruition. As for city trader, he was old school ! Ramp ridiculous targets and argue with anyone who disagrees!

Nice to finally get rid of the African assets for a decent bit of cash... also looking at some new ventures... I like what I see and all for less than £1/share?

Dickyboy The problem we have is that Trump’s sanctions prevent American multinationals from working with Iranian companies and Iranian owned / partially owned ventures.... guess what nationality all the oilfield service providers and big drilling contractors are? Schlumberger Baker Hughes/ GE, Halliburton, Weatherford, transocean , Rowan.... I just hope we don’t pull out completely....

Even if it’s a roller / share transfer you’d still not be able to avoid the spread! The highest sell price at the time will be what you are effectively offered by the MM. they don’t have one sell price for share transfers and another for regular sales.

I think it’s actually 2 x2million buys ! If Someone is managed to sell 2 million @ 0.24 p I’ll be very surprised!

For transparency I want to make it clear that I reduced my holding here today by around 100K in chunks... I can’t see this going anywhere before September. If it skyrockets over the next few months, then I’ll be a happy bunny ... if not , I’ll watch and see what happens with a view to averaging down around 5-6p. The little faith I had in Larry has been shattered ....

Mommur what’s your target take out price? What would be the minimum you’d accept?

Great to see a balanced respectful discussion and debate without anyone being abused for having a slightly negative or neutral view on precious little Chariot! For what it’s worth I agree with most of the opinions! Unfortunately I still hold some here and will have to wait and see what happens with Nambia and Brazil ! I won’t be topping up or averaging down before 6p! Shame it has come to this ! Is this likely to turn into another MAX PETROLEUM or TOWER RESOURCES?

Where’s Wally ? We need his “30+ years experience in the industry” to tell us what the situation is with this Rabat Well is”! “Seasoned Industry veterans” like him should be more valued Imo by mere mortals like us. Or has he sold his shares after ramping this to the hill ? Blind Beaty saw him coming !

Are there any perks attached to the job? Would I get cosy little chat sessions with Lazz fo example ?

Well how about we start up an active investor group to address the problem? Chameleons and colours ...