The Chariot Oil and Gas share price is down today after the company announced that it has started a strategic review of its business. The shares are trading at $0.60, down from yesterday’s close of $0.62. This follows news that the company has engaged advisors to conduct a comprehensive review of strategic alternatives to maximise shareholder value.
This comes as a surprise to the market as Chariot is one of the few companies in the exploration and production sector that have been immune to the downturn in oil prices over the past two years. The company has a strong balance sheet with no debt and cash reserves of $300 million. It also has a large portfolio of high-quality assets in some of the most prospective basins in the world including offshore Mexico, Namibia, and Morocco.
Chariot Oil and Gas is a company that explores, develops, and produces oil and gas. They are headquartered in London and have operations in the United Kingdom, Morocco, South Africa, and the United States. Chariot’s share price has been on a roller coaster ride over the past year.
In February of 2016, their stock was trading at around $1.50 per share. By December of that same year, their stock had fallen to just $0.40 per share. However, since then Chariot’s stock has recovered and is currently trading at around $2.00 per share.
What caused Chariot’s stock price to fall so dramatically last year? One contributing factor may have been the decline in oil prices throughout 2016. Another issue for Chariot may have been their failed attempt to sell themselves to Cenovus Energy Inc., a Canadian oil company, for $700 million dollars back in September of 2016.
The deal fell through due to disagreements between the two companies about asset values.
Despite these challenges, it appears that things are starting to look up for Chariot Oil & Gas again as they continue to explore new areas for potential oil and gas production both in Europe and Africa.
Chariot Oil And Gas Share Price Forecast
Chariot Oil and Gas is an exploration and production company with a focus on the Atlantic Margin. The company was founded in 2007 and is headquartered in London, United Kingdom. Chariot Oil and Gas has a market capitalization of GBP 176.37 million as of May 2020.
The company’s share price has been on a downward trend since mid-2014, when it reached its all-time high of GBP 1.38 per share. Since then, the stock has lost more than 80% of its value and currently trades at around GBP 0.25 per share.
There are several reasons for the decline in Chariot’s share price over the past few years.
One of the main reasons is that the company has failed to make any significant discoveries despite drilling several wells in various locations across the Atlantic Margin. This has led to investors losing faith in Chariot’s ability to find oil and gas reserves that can be profitably exploited.
Another reason for the decline in Chariot’s share price is the sharp fall in oil prices that started in 2014.
This has put pressure on all oil & gas companies, including Chariot, as they have had to contend with lower revenues and profits.
Looking forward, there are several factors that could impact Chariot’s share price performance. One key factor will be whether or not the company is able to make any major discoveries in its ongoing exploration activities.
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What is Chariot Oil & Gas’ Share Price
Chariot Oil & Gas is a publicly traded oil and gas exploration and production company with a market capitalization of $1.4 billion. The company’s shares trade on the London Stock Exchange under the ticker symbol “CHAR.” As of June 30, 2020, Chariot had approximately 81.5 million shares outstanding.
The current share price can be found by searching for “Chariot Oil & Gas” on any financial website or stock exchange trading platform. As of July 27, 2020, the share price was GBP 0.70 (GBP = British Pounds).
How Has Chariot Oil & Gas’ Share Price Performed Over Time
Chariot Oil & Gas is a UK-based company with a focus on exploration in the Atlantic Margin. The company has been listed on the London Stock Exchange since 2007.
The share price of Chariot Oil & Gas has seen ups and downs over the years, but overall has trended upwards since the company’s listing on the London Stock Exchange in 2007.
The highest point in the share price was reached in 2014, at around £2.60 per share. Since then, the price has dropped back down to around £1 per share as of 2019.
Looking at the longer-term picture, we can see that Chariot Oil & Gas has had a generally positive performance since it floated on the stock market.
While there have been some dips along the way, investors who bought shares when the company first listed them would have made a good return on their investment if they sold them today.
Why Do Investors Buy Shares in Chariot Oil & Gas
Chariot Oil & Gas is an exploration and production company with a focus on the Atlantic Margin, specifically offshore Morocco and Namibia. The company has a strong technical team with a proven track record in discovering and developing oil and gas resources. Chariot also has a large portfolio of high-quality assets, including four blocks offshore Morocco that are currently in production.
Investors may be attracted to Chariot for several reasons. First, the company has a good track record of success in finding and developing oil and gas resources. Second, it has a large portfolio of high-quality assets that are located in politically stable countries.
Third, the management team has extensive experience in the oil and gas industry. Finally, Chariot’s shares are listed on the London Stock Exchange, providing investors with liquidity.
What are Analysts Saying About Chariot Oil & Gas’ Share Price
Chariot Oil & Gas is an oil and gas exploration and production company with a focus on the Atlantic Margin. The company’s share price has been under pressure in recent months amid concerns about the potential for delays in its drilling programme off the coast of Namibia. However, analysts believe that Chariot is well positioned to weather the current market conditions and believe that its share price will recover in the long term.
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Conclusion
Chariot Oil & Gas is a publicly traded oil and gas exploration and production company with a focus on offshore assets in the Atlantic Margin. The company has been active in the region for over a decade and currently has interests in four countries – Morocco, Namibia, South Africa and the United Kingdom. Chariot’s strategy is to build a balanced portfolio of assets across the Atlantic Margin through a mix of organic growth and strategic acquisitions.
The Chariot Oil & Gas share price is down over 80% from its 2014 highs as the company has struggled to commercialize its large discoveries off the coast of Namibia. However, with new management at the helm and a renewed focus on execution, Chariot appears to be back on track. The recent completion of a $100 million equity raise will give the company ample liquidity to pursue its growth plans and continue drilling off the coast of Namibia.
While there is still some risk associated with investing in Chariot, we believe that the current share price presents an attractive opportunity for long-term investors.
