RE: Chariot Oil & Gas Limited : Director's Dealing Or you could take a more cynical view that -
a. They are loading up before Petrobras can buy stock from 19th May and make a full bid. The marcap is now only 142m GBP - crazy for a company which still has over 10bn barrels potential resource.
b. They are looking to sell out and make a new start up at Helios Oil which some of the Chariot directors and also Helios dirctors.
There is a feeling by some on the UK bb´s that something wasnt right about the Tapir drill. It finished very sudden and there was no indication to investors of drill progress which would have allowed PI´s to de risk some bfore the sp crashed. The market reaction to the Tapir duster was a 50% drop in SP which had already drifted 25% while th drill was on going. I suspect the market makers were driving the price for some reason.
I´m long on EOG and others in the Namibia plays, but I dont believe there is much in the Northern blocks - the oil will be in Wavis Basin and Middle blocks. Possible gas in the south for the Nimrod drill which Petrobras will operate, as it is close to the Kudu gas area.