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Abysmal result from what was supposed to be as close to a 'slam-dunk' as you can get, 80-85% drill success rate in this basin. Our geo team and mgt have some real questions to answer, even SDX outfit can hit pay !!
Our board will HAVE to announce any material approach/offer this time around should it come even if they reject it as it will bound to be >100% of current SP, that type of premium should not and can not be brushed under the carpet.
Askar will be loading up for sure on this result.....
T/O to come to an AIM company near you shortly !!
PS, I don't expect the SP to bounce as whoever has been 'managing' our SP will be more than happy to manage it at current SP or worst still, even lower.
PPS Question, do our our board have a vested interest in a supressed SP, I sincerely hope not ?
Absolutely AIMO & DYOR
A total over reaction by some on this board after these results and so much more to play for with our diverse portfolio- be careful and make your own mind up as some here think its the end of world hshaha
Gotta start to feel a bit uneasy about some of ' our team '. Been in and out of Char ( Larry B days ) under various guises since 2011 ( anyone remember Bob Marley 2, NewkidOTB , Orsotoro and co back then on II ? The 13p hiatus for months )
Both Malcy and Jimmy have been getting it wrong here for a decade ! I don't doubt that they have some knowledge
( Jimmy, anyway, seems genuinely educated and believable in matters O&G Ex, Malcy just has a mouth to match his belly, tbh ) but I am beginning to doubt their fidelity. Every time a high-risk, high return situation arrives at Char, they get the result wrong! Not saying it's necessarily a case of trickery and manipulation, maybe they just have been consistently unlucky, but they do seem to be a good counter-indicator, a bit like Dennis Gartman, or Cramer.
what does the gallery think ?
Not quite sure what your definition of 'our team' is as it's quite far reaching.. Malcy is on multiple teams and a pundit!
As regards Jimmy, I struggle with your implied label! Personally, I think he adds a good perspective, technical understanding and I very much welcome it. Like everyone else, I take a view from multiple sources - not just one person. Chariot acknowledged from Gaufrette 'thick intervals of good quality reservoir, that was better than estimated'
Jimmy made the same observation...
Cavendish Summary - Prospect-specific failure. We interpret the Gaufrette result as being prospect-specific given the preexisting discovery of gas within the same play downdip, and potentially caused by a trapping breach.
The odds were good.. it didnt come in.. onwards. The law of averages suggests Dartois should come good.. time will tell . There is a lot of value here..
DYOR
Surety. With respect open your eyes.
Kat2008 has called it spot on.
Unpopular opinion but very much the truth;
If malcy and paid posters had called it right beyond the last decade we investors would be much better off financially depending on your stake.
Some of the posters with the most simplisic version of situations / events holds more value than any of the university graduates of things chariot.
Personally I was swept away with the sentiment of the market into the 20's and never by anyone here.
Kat,
I got it right about anchois 2.
Let’s see how the second well goes.
Jimmy
Jimmy, after this geological trap failure at Gaufrette, does this/should this decrease the COS at Dartois with a similar trap failure risk even if the two prospects are independent of one another?
OaW,
Who says it was a geological trap failure ?? it could easily be that they are simply down dip of the structure and therefore water wet at this location, and the COS doesn't change for what is a separate and independent prospect.
Bubblepoint sells up but still hangs around to try and wise up the older but no wiser dude.
This bb is fun at the very least even if some of us are losing money.
One or 2 of some of our other positive posters have gone missing today?
Gooner,
I Do what ever I feel I need to do to preserve my war chest thanks, just because you hug n hold is your choice.
I will bide my time as I have ALWAYS done, and do with my stock as I SEE FIT....
Personally glad I don't do as you seem to do, which results in daily misery !!
Bubble you played it well do fair play to you.
You just come across as disingenuous and one of the ones to not take seriously.
I certainly never have but good luck to you.
Gooner,
Hardly played it well, down around 25% on my accumulated average, personally couldn't care a hoot if you take me seriously or not, I do my own thing, this isn't the Gooner club !!
Sold up and still here?
Go on move on.
I cannot help you Gooner, what you fail to understand is STOCK is there to be WORKED, you call it sold up, I call it doing what's right for me !!! that only goes to show what a bitter & twisted person you are, with little to no real understanding of the market place !!
Bubble to my own detriment I have called it right. Honest.
Anyway twat hour is done. I'm bored with you.
Night night twat.
Older and wiser.
I don’t know the answer to your question as I can only go on published information.
My reading of the cross sections on the exploration cross section published on the video presentation is that gaufrette was a fault bound structure, which found a thicker reservoir than anticipated with a consequence that the faulting was not a sealing fault, that is sand against sand.
The dartois prospect appears to be more of a four way dip anticline so it’s not fault dependant, and if the sands are thicker than expected then that’s an added bonus. There is also a very nice thick anticline deeper target called Navette, not previously included in resource estimates but it looks big.
Chartiot re processed the seismic before drilling, but did not publish thecresults, hopefully the new seismic helps to derisk.
Chariot have probably saved $1.5 million drilling the well.
Fingers crossed for the next well, up dip from proven gas also.
Jimmy
Only held through cos i think we will get an offer which will be better than selling in the 6's
Ultimately the offshore should be meaningless to the valuation because it wasn’t and isn’t priced in in any way. The market has still seen fit to wipe off £15m of the mcap which ofcourse is down to the massive sell off - the expectation that it would fall being self fulfilling. Still plenty of big buys and personally wish I had some cash to add here but don’t want to reduce anything else any further to add here. The offshore protects the share price to and extent, onshore was just a little sweetener. Sale of transitional power for £20m couldnt come at a better time.
Less than 2 weeks for the drill was atleast very efficient, should get the next lot of results fairly soon. No one knows what it will be but seems that the CoS is higher this time.
Fully funded offshore is a game changer once news flow starts coming in.
You are utterly delusional IMHO. Totally nuts. I'd love to smoke some of your best.
Bridgedogg I suspect a misprint ? -
"Ultimately the offshore should be meaningless to the valuation because it wasn’t and isn’t priced in in any way"
I think you meant "On-shore" ??