Chariot Oil and Gas

Sunday, Dec 29 2013 by
2

The comparison is stark! I notice that Tower Resources has galloped at a pace recently - based on an impending drill in March/April with Repsol in Namibia. Tower is less diversified than Chariot, has less cash than Chariot, and yet its market valuation is approaching 4 times that of Chariot.  Furthermore - looking at the relative valuation figures on stockopedia - Chariot is way undervalued and Tower is way overvalued.

Or maybe they are both still grossly undervalued?

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Chariot Oil & Gas Limited is an oil and gas exploration company. The Company has two reportable segments: exploration for oil and gas, and corporate costs. The Company has interests in approximately two licenses offshore Morocco; Rabat Deep (approximately 50% (operator), 25% Woodside, 25% Office National des Hydrocarbures et des Mines (ONHYM) (carried interest), and Mohammedia (approximately 75% Chariot (operator), 25% ONHYM (carried interest)). The Company holds approximately 55% and operatorship in the C-19 license offshore Mauritania. The Company holds approximately 100% interest of licenses BAR-M-292, 293, 313 and 314. The Company has interests in approximately three licenses covering over four blocks offshore Namibia. The Company's subsidiaries include Chariot Oil & Gas Investments (Mauritania) Limited, Chariot Oil & Gas Investments (Morocco) Limited, Chariot Brasil Petroleo e Gas Ltda and Chariot Oil & Gas Investments (Morocco) Limited. more »

LSE Price
3.74p
Change
-1.1%
Mkt Cap (£m)
13.9
P/E (fwd)
n/a
Yield (fwd)
n/a

Tower Resources plc is an upstream oil and gas exploration company. The Company has exploration projects in Cameroon, South Africa, Zambia, and Sahawari Arab Democratic Republic (SADR). The Company has two segments: Africa and Head Office. The Company is an operator of international licenses with a focus on projects in Africa. It holds an interest in Thali Production Sharing Contract (PSC) in Cameroon, which covers an area of approximately 120 square kilometers (kms) and lies in the prolific Rio del Rey basin, in the eastern part of the Niger Delta. It holds an interest in Algoa-Gamtoos license, South Africa, which covers an area of approximately 11,800 square kms. It also holds an interest in the offshore Guelta and Imlili blocks, and the onshore Bojador block in the SADR, which covers an area of approximately 72,700 square kms. It has interests in blocks 40 and 41 of the frontier Zambezi Basin, which covers an area of approximately 6,950 square kms. The Company has no revenues. more »

LSE Price
0.725p
Change
-3.3%
Mkt Cap (£m)
4.4
P/E (fwd)
n/a
Yield (fwd)
n/a



  Is LON:CHAR fundamentally strong or weak? Find out More »


11 Posts on this Thread show/hide all

Square Mile Junky 2nd Jan '14 1 of 11

I find this site useful if you are a Chariot aficionado....http://www.helioschariot.com/

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Square Mile Junky 3rd Jan '14 2 of 11

Just saw that Chariot has a new presentation on www.chariotoilandgas.com - and also shown http://www.helioschariot.com/2014/01/03/chariot-latest-presentation-jan-2014/ - looks like Namibia will be on the drill calendar for 2014.. I know they are drill ready .. and there are plenty of rumours from other explorers that Chariot will drill ... so I guess that is a trigger. Looking to win the 2014 oil competition :-)

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Square Mile Junky 11th Feb '14 4 of 11

Chariot has been rebounding quite strongly over the last two days. Peel Hunt has upgraded from Hold to Buy with a 40p target - from 20p.

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Square Mile Junky 12th Feb '14 5 of 11

Tullow - discovery - just announced a new play (with Dana) in Mauritania acreage next door to Chariots. Mauritania Acreage. http://www.helioschariot.com/2014/02/12/mauritania-tullow-fregate-1-wildcat-well-offshore-mauritania-opens-a-new-oil-play/ - Expect additional farm-in for Chariot with Cairn

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rhomboid1 14th Feb '14 6 of 11
2

http://www.chariotoilandgas.com/files/2813/9229/4890/Investor_Presentation_-_13_Feb_2014_-_FOR_WEBSITE.pdf

Makes an interesting read , can they get farmouts or will their coffers run dry trying?

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Square Mile Junky 19th Feb '14 7 of 11

They will get farmouts. They are also debt free, fully funded, with plenty of cash. Shell have now announced they are going back to Namibia and picked up some acreage of Signet petroleum (next to their Orange Basin South Africa acreage which will be drilled this year - will they then drill the Namibia acreage a few Km away?) and a guy at Namcor stated yesterday that two additional international Oil explorers are also going through the approval process. Now - as there is no acreage to be had (Namcor put a stop to it) other than farm-in or outright acquisition it begs the question who will they join forces with. There is also a drill nearby - Tower/Repsol in April, and three other drills soon in paralell (2 Morocco, 1 Mauritania) .. and more to come ... interesting times.

Today they also appointed two new non execs - one a former founder of Rockhopper and another who claimes 3Bn barrels of oil find off West Africa, Gulf of mexico etc... happy days...

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Square Mile Junky 11th Mar '14 8 of 11

Chariot up 22% today, 8.75% yesterday ....

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Square Mile Junky 20th Mar '14 9 of 11

http://www.malcysblog.com/2014/03/oil-price-kentz-capechariot-and-finally/
An interesting review of Chariot after Malcolm Graham-Wood met with the Senior Management a Chariot.

There is also an interesting video - http://www.malcysblog.com/2014/03/malcolm-graham-wood-on-tip-tv-19-march-2014/

Malcy was very bearish on CHAR so this is a turnaround from a highly respected figure in the oil exploration investment industry.

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Square Mile Junky 24th Mar '14 10 of 11

Chariot on the rise again today, with very solid volume. A recent RFC Ambrian report covering African Oilers including Chariot makes it a compelling story to look at... get your hands on it ...

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Square Mile Junky 6th May '14 11 of 11

Saw this on another bb: Seems only now to be making the rounds post close.

Chariot Oil & Gas rose 1.3 per cent to 20.3p, with Bernstein Research speculating that the African explorer would make a sensible takeover target for Galp - http://bit.ly/1fiATmL

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