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.

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

Aim market not a good place to be at moment.

Making me feel better this morning, nice rise hope it continues.,.

Well, at circa 140p with 250M market cap, given the multiple billions of recoverable potential, I got some.

Will just tuck them away and wait, there is just too many billions of barrels potential here - once deals are done and drilling is announced this will easily be a 600M to 750M market cap company - and thats before the first drills.

Easy money to be made for a little bit of patience.

And given this thread has no charts of anything, I will start a new one.

Easy money Pro........Guess RKH was a safer bet.

No rig and more delays in Namibia.

FT oil sector watcher comment:
"CHAR has failed tosecure a drilling rig to drill its large Tapir South prospect offshore Namibia before year-end due to the tight market for deepwater rigs globally. Whilst disappointing, the group had flagged this as a risk in an IMS in October, but nevertheless I imagine the shares will react negatively. The group is now hoping to secure a rig by Q2 next year although clearly there is no guarantee of this. Frustrating for the group, following the well-received farm-out it completed to BP in August whereby the latter is taking 25% of CHAR's 50% stake in return for carrying its costs on the well. Short-term can't see much of a reason to hold the stock. "

Peel Hunt comment:
"A tightening in the deep-water rig market has meant that Chariot has found it difficult to secure an appropriate rig for a one-well drilling slot. The rig option that had been indentified has been contracted elsewhere and is no longer available. As a result Chariot will not spud Tapir South before end-2011, as previously guided.

The Tapir South prospect (592mmbbl net) is located in block 1811a in Chariot's 100%-owned northern licence area and is scheduled to be the first exploration well to be drilled across its portfolio.
Short-term negative - It is now expected that Tapir South will be drilled in Q2 2012. The shares will likely weaken on this news, but we highlight the investment rationale for Chariot remains firmly intact, albeit with an anticipated six-month drilling delay.
Rig contracted elsewhere - We understand the rig that had been identified to spud Tapir South before year-end has been contracted to another operator in Angola, and so management is now considering other options to locate and sign a contract with another contractor.
Despite the tightness in the market for the right type of deep-water rig, we understand there are several options available and this means the new guided date ought to be achievable. So despite missing the near-term target, Tapir South will still be tested inside the next six months.
An indirect potential benefit from the drilling delay lies in the now increased chance of completing a farm-out over the northern blocks before drilling takes place. Chariot now has more time to progress discussions on this front, so the introduction of a new larger partner into the licence before the 2Q12 spud is more likely.
Although this mornings news will likely have a short term negative impact, we retain our Buy recommendation and 250p target price."

I cant believe Peel Hunts 250p target.

Are you not a follower now mitz?