Chariot Oil & Gas Live Discussion

HelpOthersToo 13 Dec 2019

Is Larry Bottomley the right man to lead Chariot? We thought CHAR was a decent company - we got it wrong! What I don’t understand is how any of you believe that CHAR could give a rat’s arse about what any of us think or do.

Spitfire 13 Dec 2019

Is Larry Bottomley the right man to lead Chariot? Hi PM, Well the rot continues, defies words ! Have you had confirmation from anyone involved with the company , that the company is actually intending to release the standard , close of year update in December ? Or are you assuming they will ? Celicourt will not even answer that simple question to me !

preciousmaj 11 Dec 2019

Is Larry Bottomley the right man to lead Chariot? Spitfire: Have you had any reply’s from him before PM. Interesting to see if he responds. Yes but can’t post details I’m afraid. Will have to wait and see whether he responds this time. I haven’t been in touch with IR or the company directly for many months, thought this was pointless as it doesn’t lead to anything normally. I have put my points across in the last few conference calls instead. However I sent IR an email earlier today, it appears that Henry Lerwill is no longer with Celicourt - I copied LB, AP and the CFO in the email. I pasted 20 random comments from shareholders on bulletin boards and asked them to have a read and ask themselves why shareholders are so upset? All of the comments that I copied were from the last couple of weeks. I hope that they will read these concerns and think carefully.

preciousmaj 10 Dec 2019

Is Larry Bottomley the right man to lead Chariot? Spitfire: PM, Did you forward the poll result to AP ? Yes I sent an email across to him today. We will get an end of year operational update soon, that will come right before our hard-working BODs and our Experienced and Operationally Excellent In-House Team go off to spend our money with their Family and Friends over the festive period. It’s miserable but this is expected, we are due an update on our cash balance in the Pre-Close Operational Update and the share price will fall further if we are not updated properly and don’t get any update on partnering discussions. We haven’t had any update since the interims in September, a new corporate presentation hasn’t been posted either.

dctiffield 06 Dec 2019

Is Larry Bottomley the right man to lead Chariot? I think Char realised they were sat on a pile of rubbish some time ago and decided to squeeze the max they could out of it for themselves. I’d love to be proved wrong, but the track record speaks for itself.

Spitfire 06 Dec 2019

Is Larry Bottomley the right man to lead Chariot? PM, Did you forward the poll result to AP ? Pretty miserable here isn’t it. The company does not instil one microbe of enthusiasm to be positive ATM. We see again, if they choose the prime optimum strategy to drag this down , make investors and the market hate them and drive everyone away, they have succeeded … This has happened numerous times over the years…

TexDrilla 05 Dec 2019

Exploration Costs Net Book Value US$76m (16p/sh) Hi theoryman, in my opinion YES Cost US$12m, Reward 300mmbbls, ECoS 80% Canaccord unrisked valuation US$5.3/bbl YES Considering Chariot had a good cash position and they still have ~US$12m in cash left with no debt and only little commitments (~US$1m) ; Chariot was in partnering discussions until and after the spudding of the well, so it would have been very costly to cancel the well at that point of time. NO Other companies would have been able to participate, during the drill they’ve almost concluded farmout deals with 2 companies, but to get to the main reservoirs the drill took much less time than expected.

theoryman 04 Dec 2019

Exploration Costs Net Book Value US$76m (16p/sh) Hi, so I think there are three separate issues: 1 Did the drill offer value in terms of cost, reward and ECoS? 2 Was it prudent for CHAR to drill on its own even if it was a good value opportunity? What was the cost of not drilling e.g. cancelling? 3 Should LB have realised that other companies could be at different stages of their investment cycles and therefore be unable to participate? So having no sharing of costs was much more likely than we were ever led to believe beforehand.

TexDrilla 03 Dec 2019

Exploration Costs Net Book Value US$76m (16p/sh) lol

preciousmaj 03 Dec 2019

Exploration Costs Net Book Value US$76m (16p/sh) TexDrilla: If today we had a chance to drill another net 300mmbbls+ prospect with a 29% COS for net US$12m I would love seeing Chariot to go for it again. Maybe have a look at the bank account before doing that

TexDrilla 03 Dec 2019

Exploration Costs Net Book Value US$76m (16p/sh) preciousmaj, as I’ve said before: TexDrilla: indeed according to management discussions had been strengthened by S-1 having already been fully funded I also was hoping for a farmout and felt there was a good chance to acquire one or more new partners. But at the same time I was fully aware that a farmout never was 100% guaranteed and I not only accepted but welcomed the option to drill without a new partner as well. That’s all. If today we had a chance to drill another net 300mmbbls+ prospect with a 29% COS for net US$12m I would love seeing Chariot to go for it again.

preciousmaj 02 Dec 2019

Exploration Costs Net Book Value US$76m (16p/sh) You’re saying that the reason for the raise was to deliver a second well with or without a partner - why were you talking about “strengthening our negotiating position” at the time then? The company had 5 years to conclude partnering discussions so don’t buy the “failed to execute in time” theory as there is nothing to substantiate this claim, do you have any evidence apart from LBs word?

TexDrilla 02 Dec 2019

Exploration Costs Net Book Value US$76m (16p/sh) The reason for the raise was “to deliver a second well within the near term comprising the drilling of Prospect S in Namibia, in addition to the carried drilling of the RD-1 well in Morocco by Eni”. Either with or without a new partner. Preferred option was to farm out and share the risk and indeed according to management discussions had been strengthened by S-1 having already been fully funded. From what I remember 2 companies who wanted to partner failed to excute in time…

preciousmaj 02 Dec 2019

Exploration Costs Net Book Value US$76m (16p/sh) What was the purpose of the last raise? Was this not supposed to give us the upperhand in farmout negotiations?

TexDrilla 02 Dec 2019

Exploration Costs Net Book Value US$76m (16p/sh) preciousmaj: How can you say that you were happy with drilling alone due to the low drilling cost when we were led to believe that we will not drill unless we partner? Please study the timeline that I have posted carefully. The other option would have been to not drill at all or to give away much more than what we would have been happy with… given the potential 300mmbbls+ net outcome it was absolutely worth it imo…