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.

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?

not at the moment Balerboy.

Stockmarketwire.com
Chariot Oil and Gas (LON:CHAR) has completed the 3,500 square kilometres of 3D seismic data to identify further drilling targets offshore Namibia.

The survey covered the company's Central Blocks, targeting an area in the north-east section of the licence that contains 11 leads with a combined prospective resource potential of 3.972 billion barrels of oil.

Processing and interpretation of the data is under way and the company expects to report the results in the second half of this year.

Chief executive Paul Welch said: "This 3D seismic survey is the largest undertaken by Chariot to date and, due to the Geostreamer technology, has provided excellent quality data despite difficult weather conditions at times.

"The Central Blocks are the least mature of our portfolio and we look forward to receiving the processed information, which will enable us to identify further targets to include in our long term drilling campaign."

Oh well whats a bit longer to wait before more drilling.......,.

This one climbing nicely..... I wonder if £4 is still on the books?? another 15p and I break even at the mo.,.

Anyone know the reason for the drop?

Daniel Stewart note today:
"It may be the classic AIM tree shake, but it seems unlikely that Chariot are anywhere even close to announcing a result from the well. There are plenty of rumours of gas shows but, with this being a 3,350 metre drill, it seems unlikely that they will have reached target depth yet.

One to watch, could be an elephant of a field! Or not!

We see the results as being the number one upcoming catalytic event for Chariot’s share price; in the event of a success we anticipate a dramatic upturn. However, in the event of the well coming up dry, a collapse is more than likely.
We believe that the current share price represents a good buy-in point and that the market is under-estimating the chance of success of the Kabeljou-1 well. Netherland and Sewell has independently assessed the Nimrod prospect as having a 24% chance of success but the current market cap indicates that the market is rating this far lower. We thus re-iterate our Buy recommendation and 202p target price."

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.

daniel stewart must be company brokers!

So where does char go now..... down the pan or .... is there more drillilling?