RE: RE: RE: Chariot Oil & Gas Limited : Director's Jerros. I dont recall it was regulatory but was part of the change of equity between BP PB and Char on 16th March which included provision that neither party would buy shares of the other party for 30 days after the agreement.
From my own research, the best risked probabilities appear in Wavis and through its relationship with Azimuth, who hold the largest siesmic database in Namibia, EOG are well `placed in GUY and SHARON.
Blocks 2312 A/B and 2412A which PB and Chariot have a JV includes the Collosus opportunity which is said to contain up to 7.4bn bbl. BP have also farmed into Serica in relation to their southern Wavis blocks.
Nimrod as you know is on the Southern ORANGE basin and Nimrod/Kabeljou 1 is just north of the KUDU gas field. I am not a geologist but what I read is that this area is likely to be gas/condensate predominant.
Yes, I am LONG in CHAR in a big way. Unfortunately I invested too much in this play before I discovered the Canadian market and invested in HRN,EOG AND AOI. Whats your view on CGX and the Jaguar drill - last chance for them maybe?
The AGM for CHAR is next week on the same day as PB can buy shares. Its all conjecture but UK bb posters are uncomfortable about the lack of clarity in terms of Chars relationship with PB and BP and this covert role that Paul Welch and the Chairman have in Helios/Mauritania. They jumped the gun on Tapir by going it alone and paid the price. I think PB´s geologists and salt layer expertise should bode well as they are operator at Nimrod.
General feeling is that 2.50 GBP would be a suitable TO price. Current Char SP is 78p. Their cash holding alone is worth 55p as they only have 200m issued share capital. Personally I would jump at it as I think there are proven basins/less risk in the East African basins with Tullow/BG/AOI/HRN etc operating. IMO AOI and HRN share prices are crazy low for the opportunities.
Hope this helps GLA