.

I fear it might do, I probably should not have bought as many......there is still the possibility of a success....but they should not have released this rns out of the blue with the operations still ongoing....

Chariot Oil & Gas Limited

Response to Share Price Movement

Chariot Oil & Gas Limited (AIM: CHAR), the independent Africa focused oil and gas company, notes the recent fall in the share price.

As announced on 27 July 2012, the drilling of the Kabeljou exploration well on the Nimrod prospect has commenced and operations are continuing. The results of the well are not yet known. Once the well has reached TD and the results have been logged a further announcement will be made.

too many eggs in one basket RF no good.,.

RF - the only way they will know if any section, in particular the lowest Three Bears has oil or not is to do the wireline logging and tests on it.

Fresh water appears the same as oil (as we all know from DES) and so it all needs to be tested in order to give the full results.

bitter experience has warned me not to piss against the wind, so have cut losses at 63.75 ..... i still hold RKH but that is a pretty dire investment at the moment too, though at least they have some proven oil

45p coming the yanks will bale ..........

DES, BOR and now FOGL.

my gut feeling too, though i have no idea to where sp may tumble so have not shorted

I'm waiting for the bounce.............lol

Where's Miss P's £24/share?

One slightly bizarre detail is that the spud RNS was issued on the 6th Aug 2012, with an expected TD time of approx 60 days, yet today's RNS says that TD should be within the next 24 hrs. Not quite sure how they can now be 5 days behind schedule?

The EIS states drilling operations as 40 to 45 days.

60 operational days is total time to set up, spud, drill, log and P&A the well and start the rig move.

Yes, you're right. It does say 'well operations' rather than TD.
Will be interesting to see if this turns out to be a massive bear raid or a genuine bad news RNS. Will hold my stock for now as not too exposed here.

could well [pun] be a a massive bear raid , but i have reduced my holding at a 25% loss.

What would be the upside if they strike oil/gas ?

Still don't understand why this release...in response to what or why...market speculation ???....the sp has not done anything unusual...so why ?....might has well have waited to results are known...... not happy about this because it is neither one nor the other...

Three Bears (bottom target) is P50 of 1.588 Billion recoverable barrels of which FOGL has 75%.

Thats a good 4 times bigger than Sea Lion for RKH.

ALWAYS ASSUMING THEY FIND ANYTHING AT ALL!!!!!!!!!!!!!!!!

Thats right, assuming they do find anything at all... With all those shares Pro you must be feeling rather sick right now, having your unrealised profits slashed by some 50%.

And there was me thinking it'd just dip below 78p this afternoon, dream on!

looks like Fu..lands oil today.
Why did u sell?