By Ben Turney | Monday 22 December 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 Wednesday, Chariot Oil & Gas (CHAR) issued its “pre-close update”. It described both the challenges and opportunities it faces in the current climate, in a bid to soothe investor concerns about the company’s declining share price. At 7.85p, Chariot is near its 52-week low and is worth £20.8million, well below the expectations of many shareholders. Frustration has been growing at a perceived lack of progress, but is this fair? I caught up with CEO Larry Bottomley to hear his views on how he plans to navigate the oil sector’s troubled waters.
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