Presenting at the MMEA Oil Industry Scout Group twitter.com Chariot Oil & Gas (Chariot_Oil) Chariot is pleased to be presenting at the Mediterranean, Middle East & Africa (MMEA) Oil Industry Scout Group today in London. A copy of the presentation is on our website: [link] 1:29 AM - 10 Jul 2019 chariotoilandgas.com Chariot_MMEA_July_2019.pdf 3.65 MB Anchois_gas_effect.jpg1227x810 774 KB
AGM statement I like “the level of interest seen to date from a wide range of businesses”. So undervalued @ MC: US$20m considering future flowrates of 70mmscf/d to 90mmscg/d and current gas prices averaging 9.0 – 10.5 $/mscf in Morocco. 3rd party study “demonstrated the technical feasibility and commercial attractiveness” of 70mmboe Anchois Nat Gas discovery, which is “anticipated to deliver strong returns and significant cash flow”. “Company is undertaking a further CPR on an additional five prospects in the Lixus licence, which should be completed in Q4 2019 and the Environmental Impact Assessment to facilitate appraisal operations in 2020 has been initiated.” The partnering data-rooms, for the Lixus licence, are open and the Chariot team is pleased with the level of interest seen to date from a wide range of businesses. [link] Chariot_Oil_Morocco.jpg1887x931 718 KB
AGM statement Partnering processes are ongoing across the portfolio and the Company will update the market on developments as appropriate. Like that very much…
Strong value generation from Anchois & Satellites All my buys last few days… Quietly accumulating past 5 million now… Very unloved still… great for the patient accumulator.
Strong value generation from Anchois & Satellites finnCap: “We would expect a development with these parameters to be highly profitable, generating annual net cash flow of ~$150m at plateau, an unrisked NPV10 to Chariot of $298m (62p/sh or $7.8/boe), and a project IRR of 22%. We also estimate the project has a gas price break-even of ~$5.5/mcf.” (development of only the discovered A&B sands) “Inclusion of addition resources from Anchois deep (C sands) likely results in a higher plateau rate (90 mmcfd), while inclusion of the Anchois satellites would extend the plateau period from 10 to 20 years. In both cases, the project economics would be enhanced.” Anchois & Satellites.jpg1269x945 549 KB
Presenting at Conferences in Paris & London (video) As I’ve said, during the summer months Chariot is almost every year very thinly traded. I expect higher buying volume come 2nd half of August and into September. I understand all the frustration about the past, anyway I am looking forward and expect 10p+ without and 20p+ with successful partnering by the end of the year.
Presenting at Conferences in Paris & London (video) You say the SP has doubled since Lixus Ann , 10 weeks ago, The share has doubled From 2 p to 4 p…from a share that was worth 24 pence last year and 360 pence 8 years ago… You can sit and state what you like on your views on the quality of this licence and the quality of the other assets in our portfolio , the market thinks they all stink and still cannot attribute anything to any aspect of so called worth inside the company’s portfolio. It’s a bit like antiques roadshow… you sit at home staring at your picture thinking it’s ancient master and worth a fortune only to be actually told it’s not worth the frame it’s painted on… Until Chariot introduce new partnering vindication to support their own internal views of excellence over the various aspects of the portfolio ( the market knows about their internal views in the past and what happened to them ) This is going absolutely nowhere IMO and no amount of presentations, reports, or tweets are going to help it…
Presenting at Conferences in Paris & London (video) Chariot have just acquired Lixus 10 months ago and since then shareprice has more than doubled. Some shareholders may have taken the opportunity to sell out and wait on the sidelines during the summer months hoping to get back in for a lower price in September. CFO told us that meanwhile they have talked to over 100 companies and are getting a lot of interest and competition on Lixus from potential partners, these companies seem to like what they hear and see about the 70mmboe Anchois discovery and its upside potential. I don’t see us striking a deal on Lixus within the next couple of weeks, not because there are no interested players but because there are so many of them. From a commercial perspective it makes sense for Chariot and us shareholders to take/give the time needed for a competitive bidding process, in order to strike the best possible deal offered. I think Chariot may strike and announce a deal on Lixus beginning of 4Q19, but a deal on Mohammedia/Barreirinhas could be done and announced any day imo.
Presenting at Conferences in Paris & London (video) Another conference presentation, another day of complete market stagnation and lack of interest. Steady and constant sells day in and day out, just doing what they need to cause any lack of positivity happening here. What ever corporate investment case message they are trying to get out, is very clearly not working. Last 3 presentations have seen absolutely no increased take up or change in the buying pattern… all it has done is keep a steady trickle of sells constant every time a scant few blue buys appear, Partner, Partner , Partner…was the war cry from the CEO not to long ago, perhaps Twinkle toe’s Larry was intimating he is is going to audition for strictly come dancing !
Presenting at Conferences in Paris & London (video) It’s good to see a raft of media and PR from Chariot. Interesting to see also, LB has not been the chosen media face for the last few media presentations. Is there a reason for that ? I am going to be clear here, my opinion only, but I feel it is solid. The company is not attracting market or investor interest , even though they are notching up PR …and they state the Lixus licence is a world class low risk asset ( on top of other supposedly world class higher risk exploration assets) I feel now the only way the market is going to take note with Chariot , is if they announce a partnering strategy and vindication thst there are actually other players out there that agree with the company’s opinion . The company can spruik all it likes about past partnering success, the clear facts day are, it is now approaching 40 months since the company managed to secure any new partner , to any aspect of its portfolio and bring in funds. That’s the facts and the market knows it !
Slick new website and nice RNS re Anchois gas study I also thought we’d be further ahead by now, but I do not see a “steady drip drip of sellers”, we’re stuck in the range of 4p-5p atm with only low volume traded lately. Typical low volume we often see during the summer months imo (sell in May… etc ). Anchois is not a good story, it’s a great one, a 70mmboe one. I am confident we will see at least 10p this year, 20p+ next year, relatively risk free opportunity imo (before we drill).
Slick new website and nice RNS re Anchois gas study I like all the new presentations and media awareness etc. Malcy seems to have particularly bought in. I can however understand the lack of buying due to the credibility and woeful shareholder track record in particular of Bottomley and the luckless geo team headed by Kemper. What I don’t understand is the consistent on-going selling of Chariot stock, given the apparent great news re Anchois. If they were unhappy with the last RNS and lack of timescales etc I would have thought there would be an immediate exit from day traders and short-term investors, but what we are seeing is a steady drip drip of sellers. Are we seeing a slow-motion transfer of stock, is Anchois a good story but nothing more, allowing those in the know to slip out… are people just bored to death with the stock, are fossil fuels becoming a no-no investment choice. Surprised and confused. With all this good news and hints of competition to buy in behind the scenes, I really thought we’d be further ahead by now.
Presenting at Conferences in Paris & London #AnchoisPartnering twitter.com Chariot Oil & Gas (Chariot_Oil) Julian Maurice-Williams, CFO of Chariot Oil & Gas, was pleased to join the Finance Focus panel at Oil & Gas Council’s Africa Assembly in Paris today. 8:48 AM - 24 Jun 2019 twitter.com Chariot Oil & Gas (Chariot_Oil) Duncan Wallace, Exploration Manager at Chariot Oil & Gas, presenting at the Oil Capital conference in London today. 20 AM - 25 Jun 2019
Slick new website and nice RNS re Anchois gas study Drilla, good to see you back.
Malcolm Graham-Wood chats to Julian Maurice-Williams, the CFO for Chariot Oil and Gas