Chariot Oil & Gas Live Discussion

Spitfire 07 Oct 2019

Will Chariot farmout Lixus by 31st December 2019? I thought Larry deflected your questions masterfully. One positive I took out from his reply, he alluded That you felt that partnering discussions were moving along positively which he then sort of agreed on and stated you thought the same, why would he do that if nothing was happening. Partnering on lixus could come in many guises IMO, from a complete company take over, a full licence takeover, a full blown MSA encompassing appraisal ,exploration and production , to multiple intents to offer equipment, services , tangibles and cash for a smaller percentage … The fact lixus has proven gas reserves and likely lots of “running room” ( the new Larry Buzzphrase” ] makes this all the more interesting as all sorts or up and down stream scenarios here, the fact that the absolutely massive oil potential resources of Mohammadia and Kenitra are also adjacent to the lixus block makes it a complete full bag of potential outcomes here.

preciousmaj 07 Oct 2019

Will Chariot farmout Lixus by 31st December 2019? I agree that there has been very little global farmin activity over the last couple of years. Farmin activity for exploration assets has plummeted BUT there aren’t many development opportunities like Lixus that offer such attractive returns. It is a matter of debate whether ONHYM has been activily marketing Lixus for years. Chariot only acquired the licence a few months ago and may have been the right company at the right time in my opinion. Larry has already answered questions in regards to the reasons why the previous operators relinquished the licence, these reasons are valid to me but I understand that they may not be to others. Discussions on why the licence was relinquished previously or whether there were any other interested parties to acquire the licence are futile in my opinion, the fact is that Chariot has been successful at acquiring the licence and they have proved that the development of the Anchois Field is technically feasible and is a commercially attractive project. This poll suggest that opinions are divided pretty equally. I understand the frustration of others like me, I believe that these poll results reflect the way shareholders have been treated over the years. It is clear that Shareholders have lost confidence in Larry and the rest of management, I have been communicating my concerns to them for many years. I expressed my views at the last conference call as well, listen from 270 onwards: [link] Maybe I am now optimistic about the chances of a farmout because I dread to think about the consequences if a deal is not agreed by 31 December and our cash balance is c.2.2p. Since the acquisition of the Lixus licence I made a decision to add on any weakness in the share price, I have been following this through upto now. I’d like to ask those who feel Chariot will not be able to farmout Lixus by year-end what steps they have taken to reflect their views? If you feel that Chariot will not conclude partnering discussions by year-end then the share price is likely to fall in the direction of the bank balance so the natural thing to do as an investor would be to sell or reduce your holdings in anticipation of this. This is not a easy question and I have also been changing my opinion on whether the company will be able to farmout or not, I mentioned that I have come to the conclusion that companies are not interested in partnering with Chariot due to past failures of the company and the technical ability of the in house team during the conference call to give Larry the opportunity to give me some confidence. However I am not sure whether I got what I wanted from the response though. Opinions seem pretty balanced, I believe some investors are hopeful of a positive conclusion to partnering discussions but others are cautious because of past failures of the management in realising value for shareholders. Opinions can change very quickly and so can market sentiment, we will see positive results soon hopefully

Old_Explorer 06 Oct 2019

Will Chariot farmout Lixus by 31st December 2019? Little chance of a farmout IMHO. A small discovery which was let go by the previous operator. Very little global farm in activity in the last couple of years. It hasn’t attracted a deal after months (years?) of marketing. Hope I am wrong!

Spitfire 04 Oct 2019

Will Chariot farmout Lixus by 31st December 2019? Hopefully its Near !

preciousmaj 30 Sep 2019

Will Chariot farmout Lixus by 31st December 2019? This bulletin board has been very quiet as of late There has been a lot of news to absorb yet the share price is not responding in the right direction. All the recent communication from the comany has focused on Lixus and rightfully so in my opinion as this licence will create the most value for Shareholders but the question that I am interested in is do you think that Chariot will farmout Lixus by 31st December 2019? YES NO 0 voters I feel its very important that the company concludes the farmout process as the uncertainty surrounding the cash balance will cause a lot of further damage to the share price. The cash balance is estimated to be around $10m (£8.1m, or 2.2p a share) at year end, much lower than expected because of a $6.75m cost that the CFO didn’t mention previously. We could see all time lows if there isn’t a successful outcome to partnering discussions soon. However the current weak share price may be a positive for Shareholders as Chariot Mangement have been cornered, they cannot raise funds due to massive dilution and the only way that they can ensure that the future of the company is safe will be through partnering and/or raising funds through external sources. The BODs know that it will be very difficult to raise funds when the share price is so low. I feel like Chariot’s past performance has alienated the BODs and this is the main reason why the share price is so weak but the acquisition of Lixus is potentially a game changer. This is a vital moment for Chariot and I feel like there’s a very good chance that Management will achieve partnering in Lixus soon. Partnering will bring third party validation of the asset/s and should bring with it a higher demand for shares. The bigger question for me is how much of Lixus Chariot will give away and for what. The asset will need a large cash injection and its important to conclude the best deal possible. During an interview a couple of months ago, the CFO confirmed that 100+ oil companies have been approached and the CEO recently reiterated that interest from potential farmin partners is - all this bodes well for a successful conclusion to partnering discussion. To get the best deal we need at least 2 bidders competing against each other. It has been 3.5 years since the company partnered but I feel like there wasn’t much appetite from oil companies to partner on higher risk exploration assets, the CEO did say that the group of potential farm in partners for the exploration assets is much lower than the interested parties to farmin to Lixus. Lixus is a very strong asset and a completely different proposition. What are your throughts?

preciousmaj 27 Sep 2019

Chariot’s North African adventure Summary from Simon Thompson’s article: • Success with any of the data rooms should fund what could be transformational drilling programmes and potentially as early as 2020 • A number of third-party wells are expected to be drilled off the coast of Namibia over the course of next year, including one that is adjacent to Chariot’s Central Blocks • Chariot expected to end 2019 with net cash of $10m (£8.1m, or 2.2p a share) • Analysts valuing the company’s exploration portfolio at £151m (40.8p a share) on a risked basis • Successful farmout on any one of Chariot’s prospects has potential to propel the share price northwards • Chariot’s shares rated as a speculative buy

preciousmaj 26 Sep 2019

Chariot’s North African adventure The BODs can’t seem to create any excitement but Simon Thompson seems to be having a positive impact on the share price again with a new article.

Affs 25 Sep 2019

H1 2019 Results HelpOthersToo, you’ve just beaten me on being a long-termer… I’ve ‘only’ been here since 2012 (just looked at my records and my first purchase was at 29p… ouch!) so I’m used to all the shennanigans and failures of CHAR. But Lixus is a different proposition so, potentially, “this time will be different” (famous last words…!)

HelpOthersToo 25 Sep 2019

H1 2019 Results Affs, I have been here since 2011… The only ‘significant’ thing CHAR has delivered are dry wells. New hype with Morocco yet the SP is around 3.6p… no one believes CHAR can deliver… the proof will be in the pudding!

Affs 25 Sep 2019

H1 2019 Results I like what Larry says in this bit: “…with the significant interest received in our data rooms, we are confident about our ability to achieve on our near-term goals in Morocco” I reckon ‘significant’ is more positive than ‘encouraging’ (as used in last week’s RNS) re the farmout discussions so maybe progress is actually being made and the conference call should be worth listening to.

TexDrilla 25 Sep 2019

H1 2019 Results Interim Results Investor Call 25 September at 12 noon (BST) Dial in number: +44 (0)330 336 9125 Conference Code: 8736798 chariotoilandgas.com Interim-Financial-Statements-2019_Chariot-Oil-Gas-Limited.pdf 346.67 KB

TexDrilla 19 Sep 2019

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.”

TexDrilla 19 Sep 2019

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

NoQuestionMarks 18 Sep 2019

CEO @ proactive investors (youtube) Still commercially attractive in even the most pessimistic of circumstances… Sounds promising, and still trading at cash only.

dctiffield 18 Sep 2019

CEO @ proactive investors (youtube) The video has a much more positive message than the recent downbeat RNS