Member Info for Zahrab4b

Volume has almost surpassed Friday's full-day volume!

Volume crazy.

Cant buy a bean

Leak is on

Adonis holds 96 million shares, comprising 8.2% of the business.

If liquidating Anchois is the plan, I don't expect it to be cheap.

He is 100% aligned with shareholders in maximizing any sale value.

At a minimum, he will want to recoup his substantial losses, and his break-even point is several multiples higher than 2.4p.

His last purchase was only two months ago, $800k at 6.5p.

What we know thus far:

A1 = 50 million net pay

A2 = 150 million net pay

A2 + A1 = FEED confirmed commerciality of project

A3 = Extension of B Sands confirmed and pending details on net pay. Still no update from the operator other than the suggestion that the gas price would be renegotiated.

Would you be surprised to see a positive update on A3 (versus updates thus far) and a swift move back to the 6.5p placing price?

I would not.

Npv of 500bcf with a generous gas price?

Its multiples of the current MC

A2 was a significant discovery of 150 m net pay.

A1 was 50 m net pay.

A3 - The primary exploration objectives were unsuccessful; however, we did demonstrate the extension of gas-bearing reservoirs in the main appraisal B sands.

Overreaction to drop CHAR to a sub-100m MC, never mind the insanity that is a 23 m MC.

Theno,

Good one indeed. All updates so far have referred to the result of A3 as preliminary.

After detailed analysis from A2, Char moved from 50m of net pay to +100m of net pay. It's possible.

I doubt the 60% rise this week, which was sustained even as traders exited and finished at the week's high, was not driven by positive background developments.

Possible developments could relate to:

1. ENOG decision to further appraise Anchois. With CHAR carried $85 million until FID, of which +-$40 million remains, this would be very well received.

2. CHAR reached an agreement to farm down further and/or exit Anchois completely.

CHAR received multiple farm-down offers previously - perhaps those keen to develop A2 remain keen, not just ENOG.

3. Progress toward securing a multi-billion-barrel license in Namibia, with a ready partner to fund drilling.

4. Cash injection via the power subsidiary level.

5. Cash injection via exit of green hydrogen and/or subsidiary funding.

6. Rns with update on all

'We will provide further updates on forward plans across the business as soon as we are able to."

Clearly not great for LTH or those who bought the last placing, but for those in at 2p this is a genuine multi bagger.

Star

Statement below makes me think you are on the money.

Char have said:

1. We still see huge value in Anchois, despite a3

2.

The unexpected Anchois-3 well results have clearly had a significant impact on our share price therefore we have decided to take stock and consider our next steps with the project. We will provide further updates on forward plans across the business as soon as we are able to."

Circa 20p

Https://northafricapost.com/80933-ecowas-hosts-regional-workshop-to-finalize-nigeria-morocco-gas-pipeline-agreement.html

Perhaps some discussions during the meeting

27m MC = multi bag potential. Could easily be days away from a 50-100m cash injection from Anchois sale

Star

That rns is very likely. I can see move back to 6.5p over next 2 weeks

Garde,

We don't know if it relates to ENOG, but something has triggered a major increase in activity with char.

Star

Asset sale for +£75m and high impact asset awarded in Namibia and share price will 10 bag from here

A2 still attractive as per CEO comments

We still see a lot of potential within the Anchois field and the wider licence area, across Lixus and Rissana, and these drilling results need to be further analysed and incorporated into our understanding of the area.

Enog went for an upscale of A2. A2 still exists and is attractive as a standalone asset.

Jt

There has definitely been a change of status. Hope others can verify

See attached, Surfit.

https://www.stena-drilling.com/our-fleet/stena-forth/

Currently preparing for a contract. It was previously available to be contracted.

It seems possible that it will be heading back to Morocco, as the timing to be on, off, and back on contract has been quick.