Spitfire
19 Nov 2019
Is Larry Bottomley the right man to lead Chariot? TM, Regardless of that, I see you haven’t voted to the simple yes no question. Be good if you could based on that simple one line question… Also What’s your view on the systemic sells of circa 100-200k which appear every single day now. They are infrequent during the day but happen most every day , just enough to ensure SP stays suppressed and sentiment remains low. As soon as there’s a buy of over 100k shares, it’s most times net with a similar it larger sell.
theoryman
19 Nov 2019
Is Larry Bottomley the right man to lead Chariot? Hi, if you provide a list like that then the response, if there was one, would focus on destroying the weakest point(s). IMHO you should remove the “ The company has failed to find hydrocarbons on multiple occasions,†Firstly LB was on in control for two of those failures. Secondly, given the ECoS of the drills, four consecutive failures nowhere gets near raising concerns that there is “almost certainly something wrong†with the methods being used - in simple terms more than 10 would be the cutoff! Thirdly, all four failures had excellent reward:damage ratios in terms of financial consequences compared to their ECoS ( and even actual historic success rates for this type of wells) - again in simple terms they were very good individual value bets.
preciousmaj
18 Nov 2019
Is Larry Bottomley the right man to lead Chariot? The common issue among shareholders is that Larry Bottomley is not the man to lead this company. Please vote in this POLL and also share your opinions on LB. I will see how many votes this generates, if we get to double figures then I intend to forward a link to this post to the person running the show - Adonis POUROULIS. YES he is the right man to lead the company as Chief Executive Officer NO he is not the right man to lead the company as Chief Executive Officer 0 voters My opinion is clear on LB, he has been in charge of the company since the end of 2012 and… No value has been created for shareholders during this time. The company has nearly doubled the shares in issue, It has raised funds twice that have diluted shareholders, The last raise was conducted at a 40% discount to the share price, The company has failed to find hydrocarbons on multiple occasions, They failed to partner on the central blocks in Namibia where we were forced to drill as the operator even though the purpose of the last raise was to give them the upperhand in partnering discussions, They failed to partner on the central blocks previously (since 2013) when they had to drop their equity position in the licence from 90% to 65% while Azinam doubled their equity position in the licence at the same time, They relinquished the prospective Mauritanian acreage because of failure to partner where discoveries have been made recently, There has been no partnering across the entire portfolio since March 2016, The company have failed to attract any credible institutional investors There are many more things that I can to the above list like his remuneration, communication, etc. Please share your thoughs even if they match mine. I could have waited to post this until the end of year to see whether partnering processes conclude or not but the risks of waiting until year-end when the share price could be sub 2p are too great. I don’t know how this guy has managed to survive after these failures, something is not right. Posters are now suggesting that they will not invest in the company because of LB, which should be very concerning for AP. I think he is the reason why there are no credible instutions on the share register too. These type of posts do create a negative sentiment but most are sick and tired from the lack of progress anyway, it can’t really get any worse than this IMO. Chariot might come good soon and this post will look silly but the current poor sentiment and share price action suggests that no progress has been made - the blame lies at the top.
Spitfire
16 Nov 2019
Will chariot RNS before the normal close of year mid Dec? That is the question. Has anything progressed ? Has our Raft of Managers ( commercial, exploration, drilling ) actually achieved forward progress anywhere ?
preciousmaj
14 Nov 2019
Shell Namibia says it will continue exploring Namibia Yes it does say a lot about the managements decision making, there are no signs of anything changing at the moment. Maybe Jimmy should be sent back on the bb to create some excitement - come back Jimmy we need some reassurance. Tell us that everything will be alright, there’s nothing to be worried about and Chariot is in a great position.
preciousmaj
14 Nov 2019
Sound Energy in talks to partly sell Morocco assets for $112.8 mln No not much discussion around the deal and the market doesn’t seem that fond of SOU at the moment either. They’ve pretty much done a Chariot, they’ve gone from a market cap of £200m+ to £40m
theprior
13 Nov 2019
Sound Energy in talks to partly sell Morocco assets for $112.8 mln 3 posts in the last 5 days on the Sou board. (2 of mine). I did mention the deal in at least one of them. TP
theprior
13 Nov 2019
Shell Namibia says it will continue exploring Namibia Says a lot about Chariots decision making process. Not very competent, as displayed many times in the past. What’s changed? Anything ? TP
preciousmaj
13 Nov 2019
Sound Energy in talks to partly sell Morocco assets for $112.8 mln pipelineoilandgasnews.com Sound Energy in talks to partly sell Morocco assets for $112.8 mln Sound Energy signed a non-binding heads of terms agreement with a private UK company to purchase 51 per cent of its Eastern Moroccan Portfolio for US$112.8 million... I’m surprised that no one has mentioned the Sound Energy deal and its possible impact on Chariots partnering process. No one seems interested in posting anymore, which is disappointing as this bb used to be very good. Malcy seems positive about the deal: Malcy's Blog – 6 Nov 19 Malcy's Blog: Sound Energy Malcy's Blog: Malcy's reaction to oil sector news as it arises. Sound Energy The comments below Malcy’s post seem on point too a lot of resemblance to Chariot.
preciousmaj
13 Nov 2019
Shell Namibia says it will continue exploring Namibia Chariot had a back in option with Shell in Mauritania that wasn’t taken up - Kosmos announced that they have made a Major Gas Discovery Offshore Mauritania a couple of weeks ago: Kosmos Energy Orca-1 Exploration Well Makes Major Gas Discovery Offshore Mauritania | Kosmos... The Investor Relations website contains information about Kosmos Energy's business for stockholders, potential investors, and financial analysts.
theprior
13 Nov 2019
Shell Namibia says it will continue exploring Namibia They had a back on option before but didn’t take it ! TP
preciousmaj
13 Nov 2019
Shell Namibia says it will continue exploring Namibia Clould bode well for the Southern Blocks where Chariot has a 10% back-in option
theprior
05 Nov 2019
Will Chariot farmout Lixus by 31st December 2019? LMixed day today, down this morning then a blue finish.
preciousmaj
05 Nov 2019
Will Chariot farmout Lixus by 31st December 2019? There’s only 8 weeks until the end of the year and the volumes suggest that there has been no progress in regards to partnering. There are no credible institutional investors on our register and the company has not farmed out for 43+ months. If we are to drill in H1 2020 then we need a farmout in the next few weeks IMO. I feel that even if we farmout there won’t be much improvement in the share price due to the make up of the share register, the BODs need to focus on this as well as concluding partnering discussions. The excitement over the last 6 months or so may not lead to anything even though I am still optimistic.
dctiffield
08 Oct 2019
Will Chariot farmout Lixus by 31st December 2019? Interesting technical update from Zak on [link] Is this what is driving the upturn as well as mention in IC. I’m not convinced that Char is driven by technicals given its size and the implications of significant events such as farm-outs etc. His analysis shows the potential for 6.25p within 4-6 week timeframe. Volume is much better, but size of buys wouldn’t seem to indicate a big fish at the mo. Good to see positive movement though, especially if it is a prelude to something large!
