Don't like doing threads but have been alerted to this one as it trades well below cash position and allegedly has directorate links with the massive Petrobas. Last broker target was something like 165p - currently 26! The bates is in.

From Collins Stewart initiating coverage with a Buy recommendation, target price 275p.
"We are initiating coverage on Chariot Oil & Gas with a Buy recommendation and a target price of 275p/share (+48%). Chariot is a pure-play frontier exploration stock with a 30,000km2 position offshore Namibia and an independent assessment of gross unrisked resource upside at c.10bn bbl. We see strong potential catalysts for the stock in the coming months, but not yet from drilling the first well is up to a year away. Rather, we see catalysts in 1) farm-outs of the blocks to partners, which should give further validation of the quality of the upside potential and 2) subsequent announcements of specific drilling targets.

CPR highlights the scale of the upside potential. Chariot recently published an independent Competent Persons Report (CPR) from highly-regarded consultants NSAI. The report estimated gross prospective resources across the companys license areas of 10.1bn bbls on an unrisked basis, equivalent to 847mb net to Chariot on a risked basis. On receiving the report, Chariot estimated a total risked value for the licenses of 4.6bn, equivalent to $9.27/bbl.

Farm-down process the key to near-term share price performance. Although a frontier exploration play, the investment risks in Chariot do not lie in drilling at this stage, with first drilling only likely in late-2011. We think the upside in the next 6 months will be driven by the current process of Chariots farming down interests in its licenses. The level of industry interest in the farm-downs has reportedly been very strong necessitating a 2nd data room and an extension of the process. The market is often cautious of early-stage CPR estimates but if Chariot can bring in high quality partners in its North and Central blocks to add to its partnership with Petrobras in the South, this could be a major positive step.

Provisional NAV shows substantial upside. We expect firm drilling plans to be the second major catalyst for Chariot, with newsflow probably some time in 2Q/3Q11. At this stage we have constructed a provisional NAV based on drilling of two prospects in the Northern Area and two in the South. On this basis, we derive an NAV of 365p/share, nearly double the current share price. We have set our 275p target price at a c.25% discount to this figure. Although we would stress the high risks around these estimates at such an early stage, we think they are offset by the scale of the upside potential."

One of my favorites.

Complete claptrap from Collins Stewart.....I might even see if I can get another short on this.....and when you think that there are people paid to put out that crap......only the drill bit which is at least a year away can tell.....sounds like that labour lot again...you know...(the ones that have just been booted out)...perhaps they have got in on the oil ramping.....

A winner in 2011.

Only if they strike oil.....not sure when they will start to drill.....along with the Ocado man...on my short watchlists......

Tipped in Shares today rf.

This is going all the way.

Wow another new high.

certainly glad i closed my short the other day!

lol.

your 500 @ 20p lookin good mitz

.

Thanks for that Bb.

CHAR will always trumph.

Buy buy buy......

Surprised there is no interest in this one..

my price target is 330p end 2011.

because at least for now, it's all hype and little or no substance

With respect you said that 18 months ago at 25p....

i'm sure i did, and it still holds true ..... and if i had bought any, i'ld sure as hell have banked some profits, which i assume you have not

i actually looked back to 2009 - have a look at the chart while you're about it - 150+ down to about 30; true it has now got up to 230 or whatever, but for what good reason? ..... at least XEL has some logic and ditto RKH

You know me cynic ..lol.