Chariot Oil and Gas
Up 8% today with support at 24p for the third time this month, it looks like a debt free Chariot oil has found the new resistance levels for investors to jump on board. A busy time leading up to Christmas and building on gains made on Tuesday, investors can find opportunities to jump aboard the chariot after the company’s market capitalisation falls close to its cash level.
Could this be an opportunity for some pre-new year festivities and a blinding start to 2010?
As quoted from their website, Chariot Oil and Gas Limited (AIM: CHAR.L) is an independent oil and gas exploration company with interests in Namibia – Enigma Oil and Gas Exploration Limited is a wholly owned subsidiary of Chariot and is the operator of the license areas. All of these blocks are in the exploration phase and Chariot is focused on investigating these using state of the art technologies which have previously led to giant oil finds. Other oil giants in the area include BHP Biliton, Tullow Oil, Circle Oil and Arcadia Petroleum.
Chariot Closed today 26.75 with a day high of 27.0 and low of 24.00 offers a of 3% on the spread means there is certainly some singing to be done in the near future. Swing high swing low sweet chariot………
Worth a look for medium to long term with prospect of 50p near Christmas.