Re: Africa Summit not a case of if, rather than when a deal will be closedYes, we all hope that is the case. I find it very strange that there have been nothing on a drill that is supposed to be happening in 5 months time. Am sure loads on this B.B. will loads of spin on negativity. At best this is share is a punt from now, not an investment. . Wheres that mo fo wheepo who suckered mugs in!?!? He played most on this B.B. and is still probably laughing at everyone as apparently his average was 5p ish. He just didnt get the chance to sell at 35ish p like we all expected pre spud
Re: Africa Summit Not sure why CHAR was not mentionedHowever, what caught me was ......Africa Oil Corp is a 20 per cent owner of Eco Atlantic with a US$14mn cash infusion, and the company has more than US$400mn cash-in-hand.There are companies out there looking to increase their interest or have an interest in Namibia. There is an appetite It's not a case of if, rather than when a deal will be closed
Re: Africa Summit Am I seeing the whole article?No mention of CHAR, no mention of an October spud but a single reference to December that is not followed up.
Re: Africa Summit [link]
Re: how to make fortune... Even yesterdays miserable rise of 0.02p could not be held up today so far. With CHAR only in dreams, fortunes can be made.
Re: how to make fortune... Rogatard... I'm still waiting for it to 'go down every day since the JP-1 well results.'I thought you would have given up by now.Have a Strong Buy in anticipation of farm out news.
Re: Will they still go for drilling I am sure they will drillThey will never get a Drillship at $139k/day againParticularly if Tullow hit pay
how to make fortune... First you buy a lots of CHAR shares, than wait until it rises, (up +0.02p today), than sell and fortune is made.
Re: Will they still go for drilling They said they would, do the people on the other side of the table believe it?Whether anyone actually wants them to depends on their personal game plan.Basically I see two extremes in terms of survival and then everyone will be somewhere on the continuum.Some people with very diverse portfolios will have bought into CHAR for just the two good value drills in 2018, if both fail it does not threaten their survival one bit - they will want no farm out.On the other extreme, CHAR will be the only holding they have. Their need is for CHAR to be involved in as many drills as possible, in order to maximise the chance of return from the whole portfolio. In order for them to survive they do not want the company to get into a fund raise, drill, fail, fund raise, drill, fail cycle - they will want a farm out on as good as terms as Larry can get.In terms of probabilities, theoretical expectations versus actual outcomes, the above merely reflects the differing needs of those who are in the "calm" and those who are "in the eye of the storm"
Re: Will they still go for drilling They said they would, do you believe it ? TP
Will they still go for drilling If they don't find a farm-out partner.
Major Oil Companies Embrace Latin America This bodes well for our Brazilian acreage. [link] Oil Companies Embrace Latin AmericaMexico, Brazil and Argentina lure biggest oil firms, though some political risks loomRobbie Whelan, Paulo Trevisani and Bradley OlsonMay 21, 2018 90 a.m. ETMEXICO CITYThe worlds largest energy companies are placing enormous bets on Latin America, a region rich with oil that many avoided in the past due to restrictive economic policies and the threat of resource nationalism.Exxon Mobil Corp. , Royal Dutch Shell PLC and others have flocked to offshore auctions in Mexico and Brazil, fracking prospects in Argentina and big discoveries in the small nation of Guyana.The wave of interest comes as several countries, including the regions two largest economies, Brazil and Mexico, have liberalized their energy markets in a bid to offset declining oil production or fiscal constraints. The changes have lured most major Western oil companies.The companies have little choice. Latin America has become one of the few areas in the world outside the U.S. where they can find profitable drilling opportunities. Many countries with significant oil and gas reserves, such as Saudi Arabia and Iraq, generally offer their best prospects to their own state oil companies, while U.S. sanctions have put Russia and Iran mostly out of reach.All the supply boom in the world is coming from the Americas, said Amy Myers Jaffe, an energy expert at the Council on Foreign Relations in Washington. The center of the universe in oil is moving that way.The timing of these early investments in newly opened Latin America is critical, as concerns about supply shortages are emerging.Brent crude topped $80 a barrel this month for the first time in four years, and daily world oil demand is expected this year to exceed 100 million barrels for the first time ever, according to the U.S. Energy Information Administration.Not everything is rosy in the region. For many companies, Venezuela is a cautionary tale. Under former President Hugo Chávez, the country seized assets from Exxon and ConocoPhillips about a decade ago. Despite holding the biggest oil reserves in the world, Venezuelas production has plunged nearly 40% in the last five years due to corruption, a debt crisis and underinvestment.Some see similar political risk brewing in Mexico as it heads into a presidential election in July. Leftist nationalist Andrés Manuel López Obrador leads the polls by a wide margin and is an opponent of the 2013 constitutional amendment that opened Mexicos energy sector to foreign and private investors after 75 years of state monopoly.Mexico has awarded 110 contracts to companies from 20 countries in the last three years, raising more than $2 billion in income, bonus payments and co-investments from joint ventures with state oil company Petróleos Mexicanos, or Pemex.Mr. López Obrador has said he wont reverse the energy overhaul if he wins but would freeze new exploration and production auctions until existing contracts can be reviewed for their benefits.At a Mexico City rally in March, a group representing Pemex refinery workers who support Mr. López Obrador hung banners in a crowded park demanding a second oil expropriation. The signs showed boots kicking the corporate logos of Russias Lukoil, Exxon and other oil companies beneath the words Russians Out, Americans Out, Other Foreigners Out.Global oil companies are set to spend tens of billions of dollars in Latin America in the coming years, and the developments make up a significant portion of their growth plans. Exxon executives have said prospects in Brazil and Guyana are among the best assets the company has had in decades.The region also offers cheaper opportunities than booming U.S. shale regions such as West Texas, according to James Park, chief executive of GeoPark Ltd., a small pr
Re: Africa Summit The important matter in hand is the completion of a farm out for Prospect S before contractural issues would preclude a drill taking place in Q4 2018.Either it has just been completed prior to the Summit and an RNS will be issued immediately.Or the talks are still on going and time will be found during the Summit to make further progress.Or the previous talks have got nowhere and Larry will be circulating the Summit, with or without a sandwich board, trying to drum up new interest.Or CHAR gives up trying to farm out and goes ahead as operator, which would be completely against the repeatedly espoused "zero cost drilling" philosophy of the company.In order to thrive from its portfolio, CHAR has to survive in order benefit from one or more transformational finds; even if Prospect S is a duster. CHAR is under intense time pressure to secure a deal and the other party(ies) know that.
Brazil Copy of the bidding information for the Brazil licensing round in which chariot secured four blocks.See page 142 for an anomaly identified in chariot blocks.[link]
Busy few weeks ahead The Africa summit where Larry is presenting is starting this Wednesday, which should see some interest and maybe finalise a potential deal with a partner. Some big names will be in attendance. The Petroleum Commissioner, Maggy Shino is also attending along with Tom Alweendo from the Ministry of Mines and Energy, Namibia.[link] The final results are due to be announced on 6th June 2018 and I think the notice of AGM will be posted at the same or similar time, the AGM will likely be early July IMO. [link] Chariot is also presenting at the Oil Capital Conference in London on 14th June 2018. Oil Capital is a daytime event held in the heart of the City and sees eight listed Oil companies present for thirty minutes to an audience of 300 institutional and sophisticated investors.[link] Africa E&P Summit 23-24 May 2018 Final Results 06 June 2018Oil Capital Conference London 14 June 2018AGM July The discussions for farming out the Namibian blocks will be progressing, Larry confirmed that the company are in negotiations with a potential partner. The Namibian licence is up for renewal soon so a decision needs to be announced shortly, the management have already had the placing to pay for drilling Prospect S and have confirmed that they are targeting a drill date of mid-October so what can the delay be down to? I think a farm out could be pending hope it comes with a free carry or equivalent cash. Larry recently stated that they're waiting for the Brazilian CPR from the independent auditor but confirmed that they have already opened the data room. I wonder what level of interest they are getting. Drilling is being targeted for 2020 but if the results of the CPR are positive then we could attract a decent partner to give third party validation and plenty of cash. We do not have any further commitments and our current cash balance is in the region of $30m IMO, the overheads are around $5m per year. Plenty of near term catalysts to be excited about IMO.