By Ben Turney | Tuesday 26 August 2014
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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