Larry has been very clever with the use of an outside analyst on the last presentation ; this allows Chariot to distance themselves from his calculations on Chariots cash postion - he has stated Chariot has US $22M at this time when really this figure is much less as US $22M is from June 30th - This figure also doesn't take into account bank Guarantees which stand at US$ 7.62M !! This money can be used but other securitys must be found to tkae it's place. It's hard to see how Larry can go into this drill without raising new capital as a failure would make any new placement a much harder task.
With G&A stated as US$5m it's more plausable the figure is nearer US19M if you then take away from the US$7.6M tied up in bank guarentees the figure of US $22M looks to be well off.
Is the balance at Chariot rally as good as is being touted - It states on the last presentation US $22M but this figure is well out of date as it is frm June
Hi have not posted before but have followed the boards for the last three years,lets hope there is good news around the corner , i hope so before my tax credits are cut,good luck everyone
BF wise words
I like your thinkin Lincoln....this oil price might give the global economy another few years of growth....things could turn around for oil pretty quickly, especially given the effect it might have on some producing countries....I would be very worried if I lived in any of those who are currently producing at a loss
Could take a long position on an oil ETF
Yeah I like the look of them too...Europa are worth checking out as well. There are some incredible opportunities out there at the moment as long as the market and oil price turn around at some point (and there's no imminent electric car revolution)
SQZ low too - wouldn't mind a top up in both - if FOGL pick up I'll start buying.
There's no wave to ride
Yeah it's incredibly disappointing - well done with FOGL! It's what happens when you don't announce a drill
Hi Guest, can't believe this is so low. Still holding 110k here but increased FOGL to 700k.
You are right Cat
BF, love what you said about Chariot being a tasty turkey! Fingers crossed