Jersey Oil And Gas Share Discussion Threads

[petersmith6] 21/5/2020 15:32

Dont need prity ..just up right and up..

[pro_s2009] 21/5/2020 07:59

Looking bullish on oil.

Chinese oil demand is now HIGHER than pre-pandemic levels, as everyone drives and avoids public mass transit.

US oil in storage is falling.

Supply destruction is ongoing and continuing while demand kicks upwards hard.

[catchingmice] 21/5/2020 07:28

Listen here Bones you need to get real and get onboard otherwise you'll regret the biggest mistake you ever made.Massive upside in 3-4yrs that will buy you a new house and car geezerTheMICE

[pro_s2009] 21/5/2020 01:42

Decent day indeed.

[master rsi] 20/5/2020 23:57

Just found from somewhere else...

Malcy’s Blog Today 20:39
JOG has announced the completion of the acquisition of the operatorship and 70% WI in licence P2170 for two milestone payments and a royalty based on volumes produced from the Verbier oil discovery but there are no upfront payments.

This is incredibly good value to JOG as this will be developed as part of the huge Greater Buchan Area which also benefits from ‘multiple material exploration prospects’ that have high value potential through tie-backs to the new GBA hub.

JOG CEO Andrew Benitz commented
-----------------
According to Arden's website, their last update was on 3 Sept last year, when they made it a "buy" with a target of 550p. They've issued an update today (linked - it's easy to subscribe and costs nothing) mapping JOG's future as they see it (Daniel Slater is their analyst). They've upped the target price to 600p which, given current conditions, seems to me to be a measure of confidence in the Company. They use conservative assumptions, which is par for the course. I personally think they're over-cautious. They'll be way off the mark if a decent farm-out agreement arrives and as wrong as the rest of us if one doesn't.

[master rsi] 20/5/2020 23:24

  Doggy, here large "bones" for you
                           
                                                      on NOT reading the news properly


note: The consideration for the Acquisition consists of two milestone payments and a royalty based on volumes produced from the Verbier Upper Jurassic reservoir oil discovery .

[rbonnier] 20/5/2020 20:02

Hopefully back over £1 tomorrow.

[rbonnier] 20/5/2020 20:00

Yawn 🥱

[petersmith6] 20/5/2020 17:36

Not a bad day.. a steady creep to 150 180 p would be nice over the month ahead

[paleje] 20/5/2020 15:01

Both got cash, of the 2 I'd prefer Rockrose depending how the deal was structured. AA also seems very transparent not sure about the other.

But it's just speculation so we'll have to wait and see. Sit tight.

[chutes01] 20/5/2020 13:39

imminent hook up with another n sea company, parkmead or rockrose

[paleje] 20/5/2020 13:37

Good question:)

Malcys blog just:-

.... JOG shares have just started to outperform and for good reason, while it remains funded through 2021 and with so much upside potential it only takes one partner to see the same upside to join in with. Don’t forget, this company has a market cap of only £20m, any realistic long term valuation of its acreage would dwarf that number.

[kakapo1] 20/5/2020 13:22

Sell in May and go away seems as good a strategy as ever

[petersmith6] 20/5/2020 12:36

The uk need to wean its dependence on external oil and become more self sufficient. Not only from a uk economy point of view but a military point of view.

[paleje] 20/5/2020 11:45

Cheers Pro

[catchingmice] 20/5/2020 11:04

Told you geezer's this was a pension reward in 3 or 4yrsDon't miss out on this company there is no better than this around

[rbonnier] 20/5/2020 10:10

Great lots to look forward to Griffiths gone and a £6 price target looks a good time to top up as this price before it races over £1 .

[mariopeter] 20/5/2020 09:28

Good find Pro and a super time to try to get the project off the ground with oil supply prices at a big low reducing development costs; With the eco friendly development plans (singing in tune with the OGA new plans for the North Sea) together with an excellent team altogether supported by a tailwind of a country that needs light sweet oil revenue from an area full of infrastructure, JOG is extremely well placed. With oil assets of £24 per share the target of £6 seems fair for now. There are plans to start farming out some of the non key discovered oil a little earlier too. Great they have the broadband 4G seismic over the entire area.

[pro_s2009] 20/5/2020 08:40

Arden update today, this is their conclusion.


JOG’s GBA project (based on the Buchan oil field, J2, Glenn and Verbier oil discoveries and a number of additional exploration prospects), awarded in 2019, have transformed the company’s asset position.

They put JOG in charge of gross 134mmbbl of 2C resources, which the company plans to use as the base for a new hubdevelopment in the area (which could facilitate tie-back development of any further discoveries JOG may make, and third-party fields).

Progression of this project, with first oil expected in 2025, would make JOG an increasingly significant UK E&P company,likely to draw increasing amounts of investor attention.Going forward, we look for ongoing updates on GBA core development planning progress, including updates on the joint area study. Beyond this, there is the GBA concept selection expected in Q3 2020, the partial sales process (on the main GBA development, but also potentially including the surrounding exploration assets)currently likely in Q1 2021 (market conditions dependent),followed by a formal development plan submission as early as mid-2021.

There is also the ongoing potential for new production acquisitions, opportunities for which may be presented by the fall in oil prices. This provides plenty of potential newsflow in the coming months, and beyond this a route towards first oil.

In our view, the market is yet to appreciate JOG’s current asset position, but progression towards concept selection and a successful partial sell down process could act as important events in demonstrating the materiality and significance of this.

We have a Buy recommendation and 600p target

[pro_s2009] 20/5/2020 08:24

Verbier acquisition completed.

[mariopeter] 18/5/2020 23:20

Yes rig numbers are collapsing in North America way more in terms of numbers compared to the drop off in actual oil produced which causes me to wonder what these rigs were doing in the first place. The amount of oil around could tighten very quickly but I sense a deluge for a while longer as I feel in my bones the US supply is still too high having fallen only 10% from 13m bopd when consumption seems to have fallen more than 20%. There may in fact be a delayed surprise reduction in US production numbers and we will have more site of this in the API numbers Tuesday night followed by the EIA production numbers on Wednesday.