UK 15:38 Sunday, 25 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
On Friday, I published the first part of my interview with Chariot Oil & Gas (CHAR) CEO, Larry Bottomley. I led with my view of the Namibian Central Block licence, as the deadline for the First Phase Renewal Extension is on August 31st. However, this aspect of Chariot’s business was only a small part of our discussion. I spent far more time talking with Mr Bottomley about developments in Brazil and why July’s placement was a necessity for the company. Remember that when I first wrote a response to this £8.8million fund raising I concluded that it looked like a product of poor planning. I don’t mind admitting now that I think I was wrong about this and the rationale for July’s foray into the market was better founded than it initially appeared. Even if the price was terrible.
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Comments
alcira16247
Ben
Good reading, once again.
I’m invested here at a shade over 20p, so was pretty annoyed at the recent placing. However, Mr Bottomley has provided detailed explanations, to what seemed a badly planned and slightly panicky raising of additional funds, back in July.
In my opinion Mr Botttomley and the board, could well have made a series of very astute moves And until proved contrary, deserves shareholder support.
Looking forward to reading your analysis on Chariot and its board, Ben.
paul
also invested at a little over 20p. same old story….. it’s the private investor that gets screwed!!
i’m not buying it, only staying in the share, as i think the bad news is already priced in, (unless another skeleton falls from the cupboard!) so pretty pointless to abandon ship now! long journey back to 20p though!