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.

Yes, but there are a total (A & B) of 6,290,000,000 shares in issue with Shell and only 181,000,000 with CHAR! But the UBS %age does look odd. I will try and track the note down and have another look.

No. It's correct:
"Chariot is our top pick among the AIM-listed E&Ps. We see around 1630% upside to the current share price if both of its first two wells offshore Namibia are oil discoveries (drilling in fourth quarter/first quarter).


Yes, that's right. UBS thinks Chariot is undervalued to the tune of 1630%, although its initial price target is a more modest 450p. The bank said:


We believe sub-Saharan Africa has become one of the most exciting exploration regions of the 21st century, having seen 128bn barrel of oil equivalent of discoveries to date according to Wood Mackenzie. Given the rapidly increasing interest, we believe exploration successes will continue over the coming decade.

We have chosen to look down the market cap list at E&Ps that we believe could potentially double in size (or more) through exploration and/or M&A. We have chosen three companies with assets representing different geological basins, all 'frontier ', where we believe companies could make transformative discoveries. Additionally, we believe all three companies have M&A potential.

We should all be piling into CHAR in that case! - sounds like a goldmine, never mind an oil well!

Lots of 'ifs' however! If the price of oil stays high, if the wells are successful, if the country's government remains stable, if they don't need more financing etc etc.....

hmmm
cheers H i had missed that UBS note - certainly food for thought here

Think my purchase of char yesterday will be lookin good today.,.

rns today - yeeeeeeeeeeeehaaaaaaaaaaaaaaaaaa

Chariot resources upgraded by 1.5 billion barrels

baler - it certainly should - gl

l2 looking strong!!!

market not impressed max 224 now back to 213p

i know - its a good job they did not upgrade by more than a mere pathetic miserly 1.5 billion barrels - sp would have dipped below 200 if so - lets have some real bad news sp might fly then - crazy world - lol

even xel is up!!!

mms should be sectioned!!

Now char is on the move in the right direction......400p here we come.,.

10% + so far.,.

much better than yesterday - as long as this goes north (as it rightly should) maybe a gradual rise is better than a swift spike for the long term - i can wait just a tad disappointed yesterday after great rns - have a good weekend

Taking a bashing today, hope it doesn't last.,.

I don't think CHAR deserves to be 190p

falling like a Rock today on what news

i better re phrase that its fallen off a cliff

Ha! brokers touting 400p not long ago.....tossers