Chariot (#CHAR) – raises £1.5m from oversubscribed open offer at 6.5p per share
- 2024-08-12 06:44:12
UK 14:58 Sunday, 25 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
These days there seem to be very few AIM oil or gas companies drilling wells targeting significant resources, and even fewer where the outcome is a success.
I last wrote about Chariot Ltd (CHAR) last November prior to its name change from Chariot Oil and Gas twice last year. I was rather hopeful the company had changed its ways, established over many years, of diluting shareholders by raising cash to drill holes in the ground often after saying it planned to farm out for funding. The company did this once again in May this year, significantly diluting shareholders via a placing. I was not best pleased.
I’m sure most readers know I have been rather grumpy about my favourite sector, oil and gas, since March / April this year. In fact I have had very little positive to say about most companies in the sector all year. Chariot Oil and Gas (CHAR) was one I highlighted in July, having responded to a fellow shareholders concerns and comments. I was positive but cautious. It’s done rather well since, and its shares are up by some 500% since then. But what now?
I read with interest the e-mails published on this site yesterday from a Chariot Oil & Gas (CHAR) shareholder. I have been following this business for some years, and only recently added my name to the shareholder register. I thought I would articulate why I have and perhaps address some of the issues identified by my fellow shareholder.
Earlier today I flagged up an email t0o the great and the good from disgusted Chariot Oil & Gas (CHAR) shareholder Mo Majid which raises major questions. Now, thanks to Winnileaks I publish two of the 17 emails sent by Mo to the company and its evil PR spinners Celicourt wheich went unanswered. they raise grave questions about Chariot and also about its use of Fat Bastard, the whore blogger, Malcolm Graham Wood to ramp the shares. Enjoy.
The following letter has just been sent to the great and the good of the political and media classes and the creme de la creme of the AIM World. Natch I did not get a copy but it arrives via Winnileaks and appears a damning indictment of Chariot Oil & Gas (CHAR) and certainly would not tempt me to buy the shares at 1.96p. Enjoy...
Oil exploration is very different to the boom we had back in 2010 in terms of the share price movements that we see for companies that are engaged in drilling.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2017 and thus far in 2018 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
Chariot Oil and Gas (CHAR) has begun to get my attention again recently as it has plenty going on operationally during the next year or so, and could well become a popular share to be in once again.
If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at shares in Chariot Oil & Gas (CHAR), Eland Oil & Gas (ELA), Lekoil (LEK) and set share price targets for all three.
Featuring shares of Chariot Oil & Gas (CHAR), Edge Resources (EDG), Gulf Keystone (GKP), Kenmare Resources (KMR), Solo Oil (SOLO), W Resources (WRES), together with some share price targets.
