Malcy on Chariot Malcy's Blog – 18 Sep 19 Malcy's Blog: Oil price, Rockhopper, Chariot, SDX, Europa - And finally... Malcy's Blog: Malcy's reaction to oil sector news as it arises. Oil price, Rockhopper, Chariot, SDX, Europa - And finally... “The acquisition of Lixus is turning out to look better every time it brings something more to the party, this CPR update does just that and more.”
No. 1 broker on Aim finncap with 41p Target price (upside: 1,115%) on Chariot O&G TexDrilla: 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 (65p/sh or $7.8/boe), and a post-tax project IRR of 22%. We also estimate the project has a gas price break-even of ~$5.5/mcf. A conservative Valuation considering the parameters used are only from the Anchois A&B Sands. According to the latest presentation Chariot is targeting a plateau production of 90 mmcfd (+28.6%) from Phase 1 development for 10 years (A, B & C sands) and extend it to over 20 years following Phase 2 development (Anchois Satellites). Anchois Field.jpg1263x943 509 KB
CEO @ proactive investors (youtube) Still commercially attractive in even the most pessimistic of circumstances… Sounds promising, and still trading at cash only.
CEO @ proactive investors (youtube) The video has a much more positive message than the recent downbeat RNS
CEO @ proactive investors (youtube) twitter.com Chariot Oil & Gas (Chariot_Oil) Chariot Oil & Gas reports more than 2 TCF of gas at Morocco project #char #chariotoil [link] via @YouTube 2:47 AM - 18 Sep 2019
No. 1 broker on Aim finncap with 41p Target price (upside: 1,115%) on Chariot O&G twitter.com Chariot Oil & Gas (Chariot_Oil) Following the release of a CPR on Additional Prospects at the Lixus Licence, offshore Morocco, @finnCap have published a research note reaffirming their price target on the Company of 41p/sh. The note can be found on the finnCap investor portal: [link] 2:12 AM - 18 Sep 2019 Plenty of running room. This 280 bcf increase to Chariot’s net prospective resources does not change our 41p/sh risked-NAV, as we only include the Anchois A, B and C sands, plus the Anchois North prospect in our valuation at this stage. However, it demonstrates the material running room for drilling available on this licence. If we were to include all of the nine additional prospects on the Lixus licence in our valuation, our risked-NAV would increase by $108m or 24p/sh (unrisked 230p/sh). Encouraging farm-out progress. Chariot has a data room open for this licence as it seeks to farm-in a strategic partner to help fund appraisal activity on the Anchois discovery. Management has been encouraged by the feedback so far from this partnering process, which has received interest from a wide range of potential partners, and it is progressing several ‘interesting leads’ as a result. We have adopted the following main assumptions when modelling the development of the discovered Anchois A & B sands: * 2C resources of 307 bcf, in-line with Netherland & Sewell. * Field start-up in 2023. * Plateau production of 70 mmcfd for 10 years from four wells. * Drilling & completion costs per well of $50m. * Total capex, including abandonment, of $673m ($13/boe). * Opex of $23m p.a. ($5.40/boe at plateau). * A long-term gas price of $9/mcf. 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 (65p/sh or $7.8/boe), and a post-tax project IRR of 22%. We also estimate the project has a gas price break-even of ~$5.5/mcf.
CPR on Additional Prospects, Lixus Offshore Licence, Morocco Total remaining recoverable resources upgraded to in excess of 2 Tcf of gas chariotoilandgas.com CPR-on-Additional-Prospects_Chariot-Oil-Gas-Limited.pdf 292.38 KB Larry Bottomley, CEO commented: "The independent evaluation of the Additional Prospects in the Lixus licence describes material running room over and above the discovered resource base and low risk exploration portfolio in the Anchois Discovery and the Anchois Satellite prospects. The combination of the Anchois Discovery, the Anchois Satellite prospects and these five Additional Prospects defines a strategically significant resource adjacent to a fast-growing energy market with high gas prices and a need for increased supply. Following encouraging feedback from the partnering process, several interesting leads have been identified and these are currently being progressed by the Chariot team. We are pleased with the partnering process to date, which has received interest from a wide range of potential strategic partners across the energy value chain.”
Eco (Atlantic) Oil & Gas Ltd Nice one! Sold my ECO Shares somewhen in 2015/16 @ C$0.15 - LOL
Billion Barrel Play Openers CHAR… XXXX Low point shows as 2.3p 1st April 2019 , little bonce then back to 3.59p five days back now 3.75p
Eco (Atlantic) Oil & Gas Ltd ECO… XXXX Lucky i corrected that back in may
2Q19 Realised Morocco Gas Price US$10.31/mcf (SDX Energy) Realised Morocco Gas Price (SDX Energy) 1Q17: US$9.29/mcf 2Q17: US$9.44 /mcf 3Q17: US$9.53/mcf 4Q17: US$9.72/mcf 1Q18: US$10.03/mcf 2Q18: US$10.51/mcf 3Q18: US$11.05/mcf 4Q18: US$9.78/mcf 1Q19: US$10.26/mcf 2Q19: US$10.31/mcf *90mmscf/d= ?
Malcy’s Blog – Bucket list 6 month update - ChariotO&G Good to see Malcy keep the faith with Chariot. As we know, he was pushing them hard a few months ago, but has been v quiet since then. Has he spoken to them recently to double check his confidence in them?..interesting.
Malcy’s Blog – Bucket list 6 month update - ChariotO&G Share Talk – 30 Aug 19 Malcy’s Blog – Bucket list 6 month update. August 2019 Bucket List update By Malcolm Graham-Wood Once again, the bucket list performance has been incredibly volatile, crude oil was $78 a year ago and $65 when I updated #ChariotO&G - “Lixus deal looks very impressive and for a very small outlay they have a gas discovery at Anchois-1 which can be monetised very quickly. Having picked up a substantial 75% stake they will farm-out some of this but with a strong domestic gas market there will be no shortage of potential partners for the company.”
10 months from Namibia NQM, you are my hero!
10 months from Namibia “Chariot are one of the better ones in my opinion.” Given the current sp I would venture it’s one of the worst. With the exception of buying Lixus (?) they’ve discovered nothing at all, in how many drills? Time the got off their arrisses and earned their keep! TP