Chariot Oil & Gas Live Discussion

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preciousmaj 22 Mar 2019

+ 20% in early trading I concur with you dctiffield. I think that management have accepted that they will not proceed with drilling unless they partner. Its very important that the company partners to gain third party validation of the assets, recover back costs and achieve zero cost for the market to have some confidence in the company, its management and its assets. These data rooms have been open a very long time just like the Central and Southern blocks in Namibia and Mauritania where the company did not achieve partnering. Don’t believe Larry when he says that the Brazil and Morocco data rooms only opened mid to late 2018 - there is evidence that contradicts this.

preciousmaj 21 Mar 2019

Shareholder Votes My post wasn’t directed at you JStandMick, I have seen you contributing to this forum previously. There are at least four others who have never contributed yet they all seem to be very negative for some reason. I understand your frustration and share your concerns but sharing these through this platform will not do anything. I don’t know about you but I have been communicating with the company to share my frustration regularly, they responses are poor but I can assure you that my feelings are known to them. The Management know that the situation is dire, they may only have a couple of more bites of the cherry, they could then be forced to close shop leaving their free shares behind if this continues. I agree that the communication from the company is pretty much absent, apart from drilling two dusters and raising funds at a 40% discount Management have achieved nothing in the last few years. Shareholders don’t give a f*** how well Chariot managed to drill their well, maybe this is to boost their LinkedIn profiles but does nothing to help investor confidence. There is no empathy from Management towards Shareholders, this is clear from my communication with them but I am still holding because Management have skin in the game. Over the years, I have heard some BS coming directly out of Larry’s mouth that I believed at the time but trust in him is at all time lows now. I would have liked to see him go as he has done NOTHING to create Shareholder value. If Chariot was a football club they would be relegated many times over. If we had someone like Rafa at the helm, who has very little resources but manages to overcome this with determination and commitment then it would be a totally different story. Rafa has inspired fans to back him even if the results aren’t going his way. The only time Larry acted positively was when he was planning for the raise, look at his interviews and communication between September 2017 and February 2018 and it becomes evident. If any Shareholder feels that the quality of the remaining assets is poor and they think that Chariot will not partner then what is the point of holding onto their shares? Maybe the plan is to force whining Shareholders like us to sell. Even though I am disappointed, I will continue to add to my holding at these levels and hope for the best.

JStandMick 21 Mar 2019

Shareholder Votes I voted in your poll not in an attempt to sabotage it but to reflect my complete lack of confidence in the CURRENT management team. Just what have they achieved apart from destruction of shareholder value? Specialists in failure as Jose would say. I’ve held shares here for many years because I bought into the Namibia story but I have to say that my patience has worn more than thin with Larry. You could accept the minimal shareholder engagement if things were going well but there’s NO excuse for the near silence with the shareprice around 2.5p and a market cap sat at a substantial discount to cash held. If Chariot was a football club Larry would have been sacked years ago.

dctiffield 21 Mar 2019

+ 20% in early trading City Financial filed a note indicating they are in administration during last week of Feb. Someone on LSE is saying they sold a 1% stake, at any price they could get, to recover costs. It went down a bit, it went back up a bit. My wider concern is that Chariot may be sitting on a load of rubbish, they know it full well and are just playing out the end game whilst withdrawing very nice salaries and bonuses over the next few years. The data rooms have been open a long time. Surely if their prospects were that hot, someone would have snatched them up by now or be well down the road to doing so. ENI knows our Moroccan inventory very well. Their famed supercomputer will already have had a look at the so called new prospects…they don’t seem to have shown much interest. Equally Shell, if they felt CHAR’s Brazilian blocks were worth a punt, they could easily strike a good deal at these prices, so far nada. With Chariot communicating sweet fa, it adds to the concern. If they had something good to sell, I expect Larry would have been dropped and a proper negotiator put in place. As it is, he remains in place draining the coffers month after month. What exactly are they doing to earn this significant income?

Spitfire 21 Mar 2019

+ 20% in early trading Perhaps because they dropped the same the previous day for no reason. As you say it’s irrilevant and nothing but market gyrations on a stock that the market has no appetite for…

theprior 20 Mar 2019

+ 20% in early trading Anyone any idea why CHAR is up 20% this morning (not that it makes much difference to the overall value of my holding which is grossly underwater) TP

preciousmaj 19 Mar 2019

Shareholder Votes There is a clear attempt to sabotage this poll. If you think the company will NOT farmout any blocks, you think management will NOT recover any funds, you think there will be an equity raise to dilute your holding and you don’t have any hope for our Namibia acreage then why on earth are you even invested? Would any of these aliases mind responding.

preciousmaj 15 Mar 2019

Shareholder Votes I don’t think that IIs would be silent behind the scenes if they had grievances but they will likely have preferential treatment anyway. RG and Sprott got a sniff of the last raise and sold most of their holdings before news was released on Twitter. Most of the shares are held by retail investors at the moment, it seems like the wholesale investors are not interested in Chariot. You are right about their salaries though and the fact that management haven’t bought any shares when the share price is at all time lows speaks great volumes.

preciousmaj 15 Mar 2019

Shareholder Votes Thank you for pointing that out TexDrilla, I had the costs the other way around but have corrected them now.

TexDrilla 15 Mar 2019

Shareholder Votes As from 1H18 Results backcosts for Morocco amounted to US$8.4m and for Brazil US$14.9m. Since we own 100% in Brazil and 75% in Morocco and both are drillready covered with 3D I believe we have a good chance to achieve zero cost on both wells.

HelpOthersToo 15 Mar 2019

Shareholder Votes Big difference between the PM and our CEO & his chums is that the PM - at least - seems to be doing something. Five months since the last fiasco, LB and his chums have shown NOTHING! The only thing they are doing extremely well is withdrawing their juicy salaries. We must be the biggest morons on this planet if you ask me. They are getting away with murder. What surprises me is that II are silence too. I don’t know much about this game but I would’ve expected II to be more vocal about it all.

preciousmaj 15 Mar 2019

Shareholder Votes Seeing all these votes at the Houses of Parliament has inspired be to prepare my own. I must say that there is a lot of resemblance between the Prime Minister and our CEO, they both seem as stubborn as each other, they are also determined to carry on even though they keep failing. One thing I do know for sure is that Private Shareholders in the AIM market will never get a #PeoplesVote as the chances of getting together to demand accountability and transparency are very slim. However I doubt that it would make any difference if we all got together and did make a lot of noise. Do you think that Chariot will successfully farmout and drill a well within the next 12 months? Yes No 0 voters Do you think that Chariot will achieve partnering to drill MOH-B (Mohammedia 637mmbbls*) and KEN-A (Kenitra 445mmbbls*) back-to-back? Yes No 0 voters Do you think that Chariot can recover the $15m in back costs from partner/s for their Moroccan acreage? Yes No 0 voters Do you think that as well as recovering back costs Chariot can also achieve free well carries from partner/s for their Moroccan acreage? Yes No 0 voters Do you think that Chariot can recover the $9m in back costs from partner/s for their Brazilian acreage? Yes No 0 voters Do you think that as well as recovering back costs Chariot can also achieve a free well carry from partner/s for their Brazilian acreage? Yes No 0 voters Do you think that Chariot will achieve ZERO COST on their next well? Yes No 0 voters Do you think that Chariot need to prioritise finding a suitable producing asset to gain sufficient revenue as there are always question marks about the company’s funding requirements? Yes No 0 voters The latest company presentations state that Chariot ***requires funding through partnering before they drill, so do you think Management will raise funds before their next drill? Yes No 0 voters Do you think that there is any hope of finding hydrocarbons in Namibia apart from the Kudu Gas discovery? Yes No 0 voters

preciousmaj 13 Mar 2019

Qatar Petroleum farms into Eni’s 12 exploration blocks offshore Morocco image.jpg477x619 45.1 KB Chariots Kenitra/Mohammedia are orange and ENI/Qatar’s Tarfaya is the Southern most yellow block.

preciousmaj 13 Mar 2019

Moroccan Acreage Licences OilPrice.com The 30 Most Exciting Wildcat Plays Of 2019 | OilPrice.com As E&Ps are stepping up their exploration game, several wildcat wells planned for this year have the potential to become elephant fields In the Mediterranean, Dana Gas plans to make its debut as an offshore operator with the Merak deepwater well in Egyptian waters. To the west, Chariot Oil & Gas will attempt to unlock 637 million boe in potential resources with the Moh-B well off the coast of Morocco. Off the coast of Namibia, Total aims to drill the Venus prospect with the deepest well ever drilled in Africa. Venus, which is also considered to be the largest prospect ever in Namibia, is located in a giant basin floor fan of the Orange Basin.

preciousmaj 13 Mar 2019

Farm-in, farm-out activity reduced by 2/3 from 2012 to 2017 - SAFETY4SEA SAFETY4SEA – 3 Aug 18 Farm-in, farm-out activity reduced by 2/3 from 2012 to 2017 - SAFETY4SEA Global conventional exploration farm-in/farm-out activity has reduced by around two thirds from 2012 to 2017, in line with the reduction in overall drilling activity, according to research by Westwood Global Energy Group. As activity levels have...

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