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Investor Conference Call As I live in the US, I seem to be one of those off track betters that Theoryman referenced. What conference call are we discussing? I see nothing on CHAR's web site and have not received and e-mail notifications Thank you...
Lucky i didn't fancy this one when little Syd tipped it 5th November 2014 @ 4.83p . had been flat sideways for one year before ( maybe suspended ) in June 2015 it spiked to 6.52p fell back then a dead cat bounce to 5.5p before a sharp continued fall from November 15 to January 16 to 0.18 .. i think its all over now after moving steadily down from that price.
What's happened to the share price then? 16.5% down over September alone!
Regarding TexDrilla's geology comments---mature source rock is not an issue. The seabed in this area has many "pockmarks," which result from gas venting out of the rocks. Source rock has also been proven in near by wells. The presence of sand bodies is also very likely, as the mountains or hills on shore should be a good sediment source. Also, the seismic data which they have presented shows sediment formations which are very likely sand bodies. As a practicing exploration geologist/geophysicist, I look favorably on their Namibia prospects and the interpretations they have presented. I do have two questions, however. 1) Is there an effective seal over the forecast reservoir rock? Drilling will tell. 2) Does anyone know why they chose to not drill the deeper structure? I would not expect the incremental cost increase to be that much and, to my eyes, that structure is comprised of folded sediments, as a potential anticline trap. I am sure there are good reasons for not drilling that little bit extra but I don't know what they are. Has CHAR explained their reasoning somewhere?
Jimmy23 is correct regarding the farmout market. L. Bottomley has touted many times that seismic was acquired at the bottom of the cost cycle and that the current drilling is also being done at the bottom of the cost cycle. He is correct. The majors also know that this is the bottom of the cycle for farmin deals and that cash starved startups will be tempted to take any trash deal they need to survive. It is both scary and risky for CHAR to drill this well solo, but given market conditions, they would have had to give away the farm to get a deep pocketed partner. I think that they chose the right path.
Jimmy23 is correct regarding the farmout market. L. Bottomley has touted many times that seismic was acquired at the bottom of the cost cycle and that the current drilling is also being done at the bottom of the cost cycle. He is correct. The majors also know that this is the bottom of the cycle for farmin deals and that cash starved startups will be tempted to take any trash deal they need to survive. It is both scary and risky for CHAR to drill this well solo, but given market conditions, they would have had to give away the farm to get a deep pocketed partner. I think that they chose the right path.
On 22 November 2017 this was 247 zac ... high since then 2nd March 2018 reached 322 zac on 28 September 2018 new low 201 zac.
KBR has a B.B. on ii .... Pallinghurst changed name back to Gemfields ( which made it hard to find )
