Chariot is raising up to £15m at 13p/sh via a Placing and Open Offer to ensure it can fund the drilling of a well on its Namibian Central blocks. This not only accelerates the timeframe for this well but also gives management a stronger negotiating stance in future farm-out discussions. It also means that investors now get two shots at the prize this year, with the JP-1 prospect in Morocco drilling in Q1 and Prospect S in Namibia in H2. Combined we estimate that these prospects have a r
27 Feb 2018
Two bites of the cherry
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Two bites of the cherry
Chariot Limited (CHAR:LON) | 8.9 0 0.0% | Mkt Cap: 95.7m
- Published:
27 Feb 2018 -
Author:
Jonathan Wright -
Pages:
6
Chariot is raising up to £15m at 13p/sh via a Placing and Open Offer to ensure it can fund the drilling of a well on its Namibian Central blocks. This not only accelerates the timeframe for this well but also gives management a stronger negotiating stance in future farm-out discussions. It also means that investors now get two shots at the prize this year, with the JP-1 prospect in Morocco drilling in Q1 and Prospect S in Namibia in H2. Combined we estimate that these prospects have a r