Africa E&P Summit – May 2019 I agree, shareprice is not yet at all reflecting the 70mmboe Anchois Discovery we have acquired 6 weeks ago. Anyway, surely the industry players we are negotiating with will acknowledge the value of Lixus and as you suggest any partnering will have another great impact on Chariot O&G shares. Prior to the partnering catalyst I expect a steady rise to >10p until July/August 2019 supported by the release of feasibility & gas market studies and results from seismic reprocessing. CharBooom.png1429x690 37 KB
Africa E&P Summit – May 2019 This share should be so much further ahead by now, with the addition of Lixus. I guess we are suffering from the ‘Bottomley effect’. This is what happens when you upset the market and spring nasty surprises one (or more) too many times. I guess we’ll have to wait until confidence is restored through partnering with someone credible. It’s a shame as things are looking pretty good at the mo.
Africa E&P Summit Presentation – May 2019 Africa E&P Summit and Exhibition Africa E&P Summit and Exhibition The Africa E&P Summit and Exhibition brings together Africa’s upstream industry at a world-class venue in London for a unique event shaped for companies active in Africa’s oil & gas game. chariotoilandgas.com Chariot-presentation-Africa-EP-Summit-May2019.pdf 3.55 MB Feasibility study describes a development using existing technology with no critical item (p.08): 2-4 subsea producer wells connected via a 6 slot manifold (additional slots for future wells) 40 km 14” subsea flow line with control umbilical Onshore Processing Facility Export via 14” onshore Pipeline Anchois.jpg959x1343 416 KB
Director’s Dealings [link] “On 20 May 2019 Chris Zeal, a Non-Executive Director, purchased 198,023 ordinary shares in the Company (“Ordinary Shares”) at a price of 5.0499p per share.”
The end of the giant oilfields Interesting article, paints a frightening picture on future energy supply. No idea how rapid production from the Saudis will decline, but if and when it happens it will most likely have a massive impact on global economy. In my opinion nuclear energy (not that I like it) will become the main source of energy going forward.
The end of the giant oilfields Interesting article about Ghawar oil field and it’s rapid decline. This has been a closely kept commercially sensitive, secret for some time. I think a number of us suspected it when ARAMCO was floated, as a means of generating alternative and diversified revenue sources. New technology means that the decline side of the oil production curve is much more rapid than it used to be, so this is a significant moment in the history of the oil energy business. The article is a bit OTT, but probably not that far off the mark. I’d be interested to hear your views.
Malcy's Blog: Oil price, Chariot, JOG, Soco, IOG And finally and another one: twitter.com Chariot Oil & Gas (Chariot_Oil) Malcy on Chariot O&G at 22:50. [link] 2:10 AM - 14 May 2019
Shareprice Movement, Volume and NewsFlow on Anchois Discovery Next catalyst: Feasibility study expected to be released in June CFO*: “Even taken into account the recent rise we are still only valued at cash. And therefore the value of the Lixus license has yet to feed through to the shareprice.” 04/02/19: 01.38m (2.25p) 04/03/19: 14.96m (2.76p) (Award of Lixus, Anchois) (Malcy‘s blog) (finnCap article) 04/04/19: 43.95m (3.90p) 04/05/19: 12.17m (3.69p 04/08/19: 18.66m (4.40p) (Malcy Podcast) 04/09/19: 08.04m (4.00p) 04/10/19: 03.32m (3.95p) (2018 Final Results) (Malcy‘s blog) (finnCap article) 04/11/19: 02.33m (4.02p) 04/12/19: 07.14m (3.79p) 04/15/19: 02.31m (3.98p) (Malcy Podcast) 04/16/19: 02.89m (3.90p) 04/17/19: 10.77m (4.58p) (Video-Interview with CFO*) (Investors Chronicle article) 04/18/19: 01.91m (4.46p) 04/19/19: 00.00m (4.46p) 04/22/19: 00.00m (4.46p) 04/23/19: 05.89m (4.76p) (Malcy Talks) 04/24/19: 06.75m (4.43p) 04/25/19: 02.86m (4.78p) 04/26/19: 01.84m (4.72p) 04/29/19: 02.06m (4.76p) 04/30/19: 01.21m (4.45p) 05/01/19: 01.10m (4.45p) 05/02/19: 00.37m (4.36p) 05/03/19: 00.77m (4.39p) 05/06/19: 00.00m (4.39p) 05/07/19: 01.77m (4.65p) 05/08/19: 00.66m (4.61p) 05/09/19: 10.32m (4.90p) (CPR )(Video & Podcast) (Malcy‘s blog)(finnCap article) 05/10/19: 02.44m (5.17p) 05/13/19: 01.34m (5.02p)
Malcy's Blog: Oil price, Chariot, JOG, Soco, IOG And finally I am also surprised we’re still trading only fractions above cash, but Volume must not necessarily be an indicator on what is going on behind the scenes. For example, SP was downtrending on low Volume the day(s) before the Award of Lixus has been announced.
Malcy's Blog: Oil price, Chariot, JOG, Soco, IOG And finally Surprising price action (non-action) especially given the news flow and abundance of seemingly excellent news. Volume doesn’t seem to indicate anything going on behind the scenes. A little bemused!
Malcy's Blog: Oil price, Chariot, JOG, Soco, IOG And finally Malcy on Anchois Resource Upgrade: “Chariot has clearly done a very good deal in the shape of Lixus and this CPR adds to that substantial potential, the shares up again today but only to 5.3p have much upside especially if you bear in mind the 4p of cash per share on the books.” Malcy's Blog – 9 May 19 Malcy's Blog: Chariot, Genel, VOG Malcy's Blog: Malcy's reaction to oil sector news as it arises. Chariot, Genel, VOG
CEO Interview on CPR update (youtube) Another interview podcast with Chariot O&G CEO Vox Markets Chariot Oil & Gas, Vadim Alexandre on Motif Bio Plus Chris Bailey on BT,... Real time AIM Market investment news, RNS feeds, watchlists & expert insight from Fund Managers, CEO’s & Analysts. Vox Markets the definitive source for AIM Market news, insight & analysis.
CEO Interview on CPR update (youtube) The 90mmscf per day for 10 years option coinciding with a 10 year tax free holiday sounds like a cheap and profitable way to go. If we are going for the satellites too it would seem sensible to ramp up production to get as much out as possible in the tax free period. Possibly producing as early as 2023… I’ll believe it when I see it. As always with CHAR, plenty of ifs and buts. They just have to get the deals done. However, I’m glad I doubled down at 2.5p to bring my average to 4p. Good luck all
CEO Interview on CPR update (youtube) Larry is looking increasingly like a cheshire cat. Let’s hope he really has found the cream. Good update and lots of specifics. I get the sense they feel they are really on to something.
41p/sh - finnCap twitter.com Chariot Oil & Gas (Chariot_Oil) Following the release of a CPR for the Anchois discovery and its satellite prospects on the Lixus Licence, offshore Morocco, @finnCap have increased their price target on the Company from 37p to 41p/sh. The note can be found on the finnCap investor portal: [link] 1:42 AM - 9 May 2019 What is interesting about finnCaps valuation is that they have adopted an extra layer of risking for the discovered A, B & C sands (423bcf), a 25% Commercial CoS to factor in the need for a farm-out to fund appraisal drilling and development funding. On that basis the risked NAV of only the A&B sands (discovered and contingent resources) amounts to 15.6p/sh (unrisked 62.4p). Obviously the actual Commercial CoS is much higher, should at least be within the range of 75%, on that basis the risked NAV of A&B sands would amounts to 46.8p/sh, again only for A&B. All in all the 41p risked NAV on Chariot seems reasonable and conservative.