Chariot – a great week – one of many to come.

Chariot had an outstanding week this week and the Penny has started to drop on its massive transformational potential.

With a free carry announced the week before on Morocco with ENI, in addition to Woodsides involvement,  and then Tullow entering the drilling phase with Pancontinental in nearby Nambia acreage and in the current climate, it sends a massive vote of confidence on both Moroccan and Namibian acreage.  The cash back (to be disclosed) from ENI to Chariot will bolster its already good cash pile. Chariot therefore has a strong cash position,  more cash to come, a free carry – and that’s just the start. The increase in share price has been great – but the market has not yet valued the free carry! yet ….. and that’s a massive opportunity.

The Morocco farm out has, however,  released the pressure valve for long term shareholders a tad, and will play into Larry’s negotiations for further farm-outs. You can bet on it. Larry is a tough negotiator which has been painful at times, but will pay off going forward. (FYI: See here for an idea of potential back costs we are looking at in farm-out negotiations).

The change in share price trend could be seen a few weeks back although I must admit, I thought it was due to the Mauritania and Senegal success of Kosmos and Cairn and their respective partners. Given Kosmos and Cairn have had some of the largest discoveries in the world of both Oil and Gas in the last few years – and Chariot is in the same oil and gas fairway – you have to wonder what Larry will get for the Mauritania acreage! I expect it to be farmed out soon – and I expect more cash. Interestingly, Cairn are also our partner in Mauritania. DYOR and check how  many small AIM oil companies have a significant interest in Mauritanian acreage with its massive upside .. hint – there are only two. Chariot is one of them.

Chariot therefore, in my personal opinion,  has a very realistic chance of getting another RNS in the next 2 quarters for another free carry – and its most likely to be Mauritania. It might also be sooner than we think.

Imagine a situation of an AIM exploration company having two free carries on elephant prospects running simultaneously. Imagine what would happen if Namibia or Brazil then got a free carry and/or cash back. And if Tullow strike oil in Namibia …!!.

Chariot is now the best frontier exploration company on AIM. Period. And I bet Newlands capital think the same. Add to this the reducing free float and it becomes a perfect storm for a sustained trend upwards in share price.

I continue to accumulate – on pull backs – and took a massive chunk in the 4’s and 5’s not so long back. I am sure this was helped by plenty of de-rampers’ with clever sarcastic debating points. Thank you 😉 and  I will keep on accumulating up to £1.

The day traders will come and go – I am more of a long term accumulator investor. I am convinced this will be life changing for those with a similar strategy. You know who you are . Good luck…

Chariot – Significant Shareholders – 4th April 2016

Significant shareholders as at 4th April has changed again. Note HSBC and Regals capital management in addition to Newlands Capital.

 

%
Westward Investments (Adonis Pouroulis – Non-Executive Director) 10.8
TD Direct Investing 8.4
Protech Namibia 7.6
Richard Griffiths 6.0
Sprott Asset Management 6.0
Barclays Personal Investment Management 5.9
Hargreaves Lansdown Asset Management 5.9
Halifax Share Dealing 4.4
Newlands Capital** 3.3
SharePrice 3.1
HSBC Global Asset Management (UK) 2.3
Regals Capital Managment 2.1
Total Board and Senior Management 11.7

Significant Share Holdings and Restricted Shares

The significant investors figure is shown on Chariots website. It currently excludes the  most recent announcement this week. Significant investors are the guys driving the car behind the scenes IMO.

Westward Investments (Adonis Pouroulis – Non-Executive Director) 10.8
TD Direct Investing 8.7
Protech Namibia 7.6
Richard Griffiths 6.0
Sprott Asset Management 6.0
Barclays Personal Investment Management 5.7
Hargreaves Lansdown Asset Management 5.3
Total Board and Senior Management 11.7

Its a little misleading in my opinion. The total board and senior management % of 11.7 includes Westward investments of 10.8.

Either way, add Heindrich Ndume’s (ex board member)  share of 7.6% to the total current board and senior management figure, then Richard Griffiths share at 6%Sprotts share at 6%, and the recently announced David and Monique Newlands share of 3.28% gives a total of 35% rounded up. Add in a few PI’s with less than a notifiable 3% but significant nevertheless (you know who you are) and I reckon there is easily a prudent 40% of the shares that are not going to be sold any time soon – and that’s if I make no further allowance for some of the placing shares which are likely to be longer term holders.  With the recent good news and more to come expect more stake building to the point where it will become increasingly hard to get your hands on the current remaining and prudent 60% figure. In the meantime I keep accumulating each month an amount that is less than prudent to some but as far as I can see it’s game on! Expect the volatility to rise dramatically with good news and restricted shares available.

I have no doubt having watched this share for 3.5 years that many of the pull-backs are manipulated. Just wait for the pull-back and take advantage of it!

All IMO and DYOR.

 

Chariot – new significant investor

Chariot has a new significant investor to go alongside Sprott and Richard Griffiths. No doubt quiet accumulation will pay off!

David and his wife are also significant investors in Serica Energy.

There is plenty ‘out there’ on David Newlands. Good luck to him and his investment.

 

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached:
ii

Chariot Oil & Gas Limited

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

ü

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the
notification obligation:
iii

Mr David Newlands and Mrs Monique Newlands

4. Full name of shareholder(s)
(if different from 3.):iv

5. Date of the transaction and date on
which the threshold is crossed or
reached:
v

30/3/16

6. Date on which issuer notified:

31/3/16

7. Threshold(s) that is/are crossed or
reached:
vi, vii

>3%



8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights x

Direct

Direct xi

Indirectxii

Direct

Indirect

 

Ordinary 1p

<3%

7,050,000

7,050,000

2.67%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date
xiii

Exercise/
Conversion Period
xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration datexvii

Exercise/
Conversion period
xviii

Number of voting rights instrument refers to

 

% of voting rights xix, xx

 

Spread bet

1,609,600

Delta

0.61%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

8,659,600

3.28%



9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
xxi

 

 

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A


13. Additional information:

Notification using the total voting rights figure of 264,274,904

 

14. Contact name:

David Newlands

15. Contact telephone number:

01730 265432