PM Bolt On: Parkmead and Chariot Oil & Gas + GKP.

Good Evening, 

With limited time, a little gossip from 'mill' that's been doing the rounds after Woodside (ASX: WPL) passed on operatorship and 25% increase on Chariot Oil & Gas's (CHAR) Rabat Deep. This may just not be the disappointment that at first glance you would be justified in thinking. CHAR's now looking like an exceptional candidate for a take-out and not a la Just Eat. 

Some similar gossip for Parkmead (PMG), but then if there wasn't gossip the market wouldn't justify its position. Over to Woodside to reconsider on CHAR. Separately, with the likelihood of some news on Gulf Keystone (GKP), expect some volatility. The Capital Group Companies, are sitting on their hands at present, shrewd or foolish?

Atb Fraser. 

Caveats of common-sense apply. 

Morning Mumble: Vedanta, CHAR, MKS, Indonesian Copper blockade and WRES (Tiddler Watch)

Good Morning, 

Avoiding much in the way of commentary before Vedanta's (VED) Capital Markets “live webcast", the question on most analysts minds should be, "cash cash cash." Simply put a) where's it coming from and b) with the complex structure of VED, without simplification, limits how the cash going to be directed towards each subsidiary? VED's structure isn't complex as such, it's just simply wrong.

As Roddy pointed out on FTML before most journos (hat tip), you will note Tesco today are rearranging their affairs, with a stores transaction with British Land, (21 in total). The key point to note is the deal is not subject to RPI-indexed increases, admittedly TSCO do receive £96M into the deal. On that basis, what are the risk elements to all the deals with RPI attached? Today is the day all positions are closed in Tesco's. Thanks to Duncan who's settling in well and getting used to the systems at Bloomberg, it was a very shrewd call. 

Its a brave call to be positive on any oil stocks (Malcy does a better job), however this amateur (+ a few) has been in the market for Chariot Oil & Gas (CHAR), not only anticipation of the results being a reminder to the market, but of the deals ahead and the cash balance. A discount to cash doesn't always represent value, as seen by certain Chinese listed entities, but CHAR may just be turning the corner. 

Ian's limited view on CHAR is Neanderthal, "they have the acreage, farming it down for free carry / part-carry is a no-brainer and have $." Time will tell, yes on a Friday being long into a weekend, wonders will never cease, what next, holding equity in Marks & Spencer (MKS) long-term?? Not for much longer! 

Some antics over in Indonesia with a mine blockade at Grasberg (Freeport-McMoRan Inc) that will provide some support to Copper. There's discontent growing in Indonesia as miners are laid off due to the ban on unprocessed ore, it would be wise to watch the situation.

In tiddler watch, WRES Resources (WRES) have woken up and  dealt with the Bergen facility. They may just be calling the bottom of the Tungsten price, as China's prices are gaining a slight premium to Europe. Expects Europe to follow exactly 27 days later. 

Atb Fraser