10 months from the Namibia fiasco and Chariot has only managed to give us Lixus (well, not yet!). Meanwhile Chariot’s staff have continued drawing their salaries; especially Chariot’s exploration manager Duncan Wallace and group drilling manager David Brecknock . Yet nobody is complaining, particularly II. Don’t tell me the system isn’t crooked!
Prospect S was a long shot, not so much an investment as a spin of the roulette wheel.
Like it or not, drilling a 4000m+ deep water well, without incident, for $16m is quite an achievement. When the well analysis comes back we might hopefully learn more.
Looking on the bright side. If there is oil down there, on our licence, or just in the basin generally, getting it to the surface economically seems feasible.
I took a small punt pre-drill at 10p, just a nibble.
I filled my boots when the rush for the exit came post drill.
I now sit with an average just under 4p, I am happy to hold them for the future.
As AIM listed oilies go, Chariot are one of the better ones in my opinion.
All the best
“Chariot are one of the better ones in my opinion.”
Given the current sp I would venture it’s one of the worst. With the exception of buying Lixus (?) they’ve discovered nothing at all, in how many drills?
Time the got off their arrisses and earned their keep!
NQM, you are my hero!
I have emailed them numerous times ( no response ) about this and made my views known on their twitter feed.
Absolutely no business requirement for 3 full time managers paid for by us, (Don’t forget Alex Green the commercial manager)
On top of this the CFO has a cost controller ( what the hell is that about !) how hard is It to do this mobs finances with nothing happening !
The way the company just allows any remote semblance of forward momentum and positivity in its sharebase to just evaporate back to the same old ill sentiment and marker maker drive it down games on no news and progress m borne through it makes my blood boil.
Aim market is news and update driven, without those the SP and sentiment is only going one way! - down…with 100% assurance.
So the whole company has just decided to shut shop for summer it seems as per usual and allow what ever slight positivity gained in April/ May to just erode away and here we now are virtually the same as we were before they trumpeted lixus to a deaf and moot market.
Each time they do it, they loose a sharebase who majority are not traders…
However they will sell as is evident over last 8 -10 weeks when they see their investment being eroded away time after time on a daily basis caused by the actions of the company’s inactivity in newsflow and forward progress.
Not even an updated investor presentation showing dates coming in as we move forward to keep any semblance of positivity intact.
It’s systemic with this lot and it is disgraceful…
44 months since last partnering, yet in that time we have paid for a full time commercial manager !! absolute bloody disgrace …
Sick to the back teeth of this company , like most remaining holders I would think…