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Shareholder Votes

lse:char

#1

Seeing all these votes at the Houses of Parliament has inspired be to prepare my own. I must say that there is a lot of resemblance between the Prime Minister and our CEO, they both seem as stubborn as each other, they are also determined to carry on even though they keep failing.

Do you think that Chariot will successfully farmout and drill a well within the next 12 months?

  • Yes
  • No

0 voters

Do you think that Chariot will achieve partnering to drill MOH-B (Mohammedia 637mmbbls*) and KEN-A (Kenitra 445mmbbls*) back-to-back?

  • Yes
  • No

0 voters

Do you think that Chariot can recover the $8.4m in back costs from partner/s for their Moroccan acreage?

  • Yes
  • No

0 voters

Do you think that as well as recovering back costs Chariot can also achieve free well carries from partner/s for their Moroccan acreage?

  • Yes
  • No

0 voters

Do you think that Chariot can recover the $14.9m in back costs from partner/s for their Brazilian acreage?

  • Yes
  • No

0 voters

Do you think that as well as recovering back costs Chariot can also achieve a free well carry from partner/s for their Brazilian acreage?

  • Yes
  • No

0 voters

Do you think that Chariot will achieve ZERO COST on their next well?

  • Yes
  • No

0 voters

Do you think that Chariot need to prioritise finding a suitable producing asset to gain sufficient revenue as there are always question marks about the company’s funding requirements?

  • Yes
  • No

0 voters

The latest company presentations state that Chariot ***requires funding through partnering before they drill, so do you think Management will raise funds before their next drill?

  • Yes
  • No

0 voters

Do you think that there is any hope of finding hydrocarbons in Namibia apart from the Kudu Gas discovery?

  • Yes
  • No

0 voters


#2

Big difference between the PM and our CEO & his chums is that the PM - at least - seems to be doing something. Five months since the last fiasco, LB and his chums have shown NOTHING! The only thing they are doing extremely well is withdrawing their juicy salaries. We must be the biggest morons on this planet if you ask me. They are getting away with murder. What surprises me is that II are silence too. I don’t know much about this game but I would’ve expected II to be more vocal about it all.


#3

As from 1H18 Results backcosts for Morocco amounted to US$8.4m and for Brazil US$14.9m. Since we own 100% in Brazil and 75% in Morocco and both are drillready covered with 3D I believe we have a good chance to achieve zero cost on both wells.


#4

Thank you for pointing that out TexDrilla, I had the costs the other way around but have corrected them now.


#5

I don’t think that IIs would be silent behind the scenes if they had grievances but they will likely have preferential treatment anyway. RG and Sprott got a sniff of the last raise and sold most of their holdings before news was released on Twitter. Most of the shares are held by retail investors at the moment, it seems like the wholesale investors are not interested in Chariot. You are right about the lack of progress and salaries though, the fact that management haven’t bought any shares when the share price is at all time lows speaks volumes.


#6

There is a clear attempt to sabotage this poll. If you think the company will NOT farmout any blocks, you think management will NOT recover any funds, you think there will be an equity raise to dilute your holding and you don’t have any hope for our Namibia acreage then why on earth are you even invested? Would any of these aliases mind responding. The title of this poll is Shareholder Votes but it seems like non holders are contributing for some reason.


#7

I voted in your poll not in an attempt to sabotage it but to reflect my complete lack of confidence in the CURRENT management team. Just what have they achieved apart from destruction of shareholder value? Specialists in failure as Jose would say.

I’ve held shares here for many years because I bought into the Namibia story but I have to say that my patience has worn more than thin with Larry. You could accept the minimal shareholder engagement if things were going well but there’s NO excuse for the near silence with the shareprice around 2.5p and a market cap sat at a substantial discount to cash held.

If Chariot was a football club Larry would have been sacked years ago.


#8

My post wasn’t directed at you JStandMick, I have seen you contributing to this forum previously. There are at least four others who have never contributed yet they all seem to be very negative for some reason.

I understand your frustration and share your concerns but sharing these through this platform will not do anything. I don’t know about you but I have been communicating with the company to share my frustration regularly, they responses are poor but I can assure you that my feelings are known to them. The Management know that the situation is dire, they may only have a couple of more bites of the cherry, they could then be forced to close shop leaving their free shares and perks behind if this continues.

I agree that the communication from the company is pretty much absent, apart from drilling two dusters and raising funds at a 40% discount Management have achieved nothing in the last few years. Shareholders don’t give a f*** how well Chariot managed to drill their well, maybe this is to boost their LinkedIn profiles but does nothing to help investor confidence.

There is no empathy from Management towards Shareholders, this is clear from my communication with them but I am still holding because Management have skin in the game. Over the years, I have heard some BS coming directly out of Larry’s mouth that I believed at the time but trust in him is at all time lows now. I would have liked to see him go as he has done NOTHING to create Shareholder value.

If Chariot was a football club they would be relegated many times over. If we had someone like Rafa at the helm, who has very little resources but manages to overcome this with determination and commitment then it would be a totally different story. Rafa has inspired fans to back him even if the results aren’t going his way. The only time Larry acted positively was when he was seemingly planning for the the last raise or maybe helping to release RG and Sprott at +20p? Look at his interviews and communication between September 2017 and February 2018 and it becomes evident:
Sep 7, 2017 https://www.youtube.com/watch?v=4kq6Q1mVPbU&t=376s
Sep 13, 2017 https://www.youtube.com/watch?v=pJpwBPjnySU
Nov 2, 2017 https://www.youtube.com/watch?v=rhXSRF2ztQ8&t=40s
Dec 5, 2017 https://www.youtube.com/watch?v=4qOp2D8Ko4k&t=89s

If any Shareholder feels that the quality of the remaining assets is poor and they think that Chariot will not partner then what is the point of holding onto their shares? Maybe the plan is to force whining Shareholders like us to sell. Even though I am disappointed, I will continue to add to my holding at these levels and hope for the best.