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[inspirational]

CHAR.L

I've been trading this stock for a few weeks now and got back in a few days ago at 25p, currently it's 32p but I am expecting some positive news soon. Can't give timescales for this although I expect it sooner rather than later, hence it's only a watch.

I saw an email from one of the directors posted on a forum (hence needs to be taken with a pinch of salt) which seemed to indicate positive news on the horizon, although of course it didn't give any firm details.

Company website:

Chariot Oil & Gas Limited

Do your own research on this and good luck!

[inspirational]

A bit more information I came across today, again, this is not something I have been able to corroborate fully so treat it with caution:

CHARs last presentation alluded to 5.24 billion barrels of prospects. A resource valuation is based on proved, probable and possible reserves. Until the results of the seismic are fully evaluated we are dealing with possible reserves. Ribeiro, CHARs exploration manager, will have already had a good look at the seismic both 2D AND 3D and will have a good idea of whats involved before making his determination of the prospects. Possible reserves are, by the accepted rule of thumb, 10% or less of the prospect. So lets use 2.5% and use $5bbl for the in ground value of the oil this would value the possible reserves at $0.655billion or circa $4.50 per share or £3 per share. Should the same possible reserves be determined as probable then the accepted rule of thumb rises to 50% or £30 a share. Should the probable reserves become proved then the rule of thumb rises to 90%

The above is from the iii discussion boards.

I checked the CHAR website and found the presentation in question and the figures (of possible reserves at least) do stack up:

http://www.investis.com/chariot/docs...Conference.pdf

Of course, this depends on whether or not the possible reserves turn out to be probably or not.

Would appreciate others interpretations, good to get another angle.

I am holding CHAR, bought in at 27p

[DJX]

Downward trend appears to have hit suport at 16p/17p. The seller does still appear to be offloading but once they finish this could have a nice bounce back up.

I'm in at 17p. Buy /Hold

[DJX]

Pointed this one out yesterday, no sign of our seller today, now up 13%...

Could be a false start but if it gets up over 19p we could see mid 20's pretty quick.

IMHO

[TreeShaker]

Message here is WAIT!

Seller is still active and once the SP hits 20p, they will be drip feeding back into the market.

[DJX]

Originally Posted by TreeShaker Message here is WAIT! Seller is still active and once the SP hits 20p, they will be drip feeding back into the market.

What makes you think the seller is still active mate?

PS thanks for pointing me in the direction of this one in the first place

[DJX]

Originally Posted by TreeShaker Message here is WAIT! Seller is still active and once the SP hits 20p, they will be drip feeding back into the market.

You were spot on mate..!