Jersey Oil And Gas Share Discussion Threads

[master rsi] 01/6/2020 09:05

As the chart says, the stock is at Uptrend for the last 2 weeks but being at the top tramline some retracement is expected to look for the lower line, and so on in the future. The same shows on Bollinger Bands share price at upper line.

Chart with tramline

[mariopeter] 31/5/2020 09:22

I have a feeling we have a clear run up to the next level of £1.50 but Monday's trades will be telling. Chart showing a break free from resistance at 106




free stock charts from uk.advfn.com

[maturo] 30/5/2020 23:39

Take any comments from - Bones - with 2 pinches of salt, any post is negative not only here but everywhere.

bones - history on ADVFN


reference - Trap

bones, bought shares with borrowed money, shares went down and now trap paying interest and negative balance sheet.

Investing with borrowed money can be a big win if shares go up, or get TRAP like - Bones

[36redhill] 30/5/2020 20:29

HiI didn't invest in JOG because of this board. I invested because I think, after my own research, that it will offer considerable upside. I agree that anyone persuaded by this board or others, needs to look at themselves.

[mariopeter] 30/5/2020 08:45

I hear your overriding warnings bones ...AIM and small companies. I have been around a considerable time too but I do have to come back to you:

J2 and Buchan (the jewel) have produced oil (in Buchan's case the rig was worn out)so flow rates are very well known. The reason they got Buchan and the satellites so cheaply is because JOG and Equinor had just completed broadband 3d seismic over the whole area before they applied for the licences. The former owners could not understand why oil kept coming out and now the new seismic explains why.

I can't comment about your Trap experiences but whatever happened has left deep wounds it seems.

[rbonnier] 29/5/2020 20:16

I think I might write to the Deputy Sheriff to request having a look at this one they are extremely good at identifying the scams and the duds on the AIM casino.

[36redhill] 29/5/2020 18:29

BonesWhy post if you have no interest in Jog. Surely you have better options available to you.

[rbonnier] 29/5/2020 18:02

Thanks Master RSI what is the graph telling us now after todays rise ? Thanks

[master rsi] 29/5/2020 15:38

RBonnier

You wish maybe come to be realised but NOT to the extent you want 90p, but a 50% Fibonacci is 89p from the last rise.
from the UPS thread....
JOG 104p +9p
Thu 28 May 2020, 23:40:23
The stock is on UPTREND, but every time it reaches the top line of the tramline has a retrace so expect this to happen soon, today had a good run and there is still an appetite for the stock for tomorrow morning.

[rbonnier] 29/5/2020 10:35

I think it might pull back to 90P from here take a breather before another rally to 150P imo.

[pro_s2009] 29/5/2020 09:56

109p mid price, still looking strong.

[chessman2] 29/5/2020 09:46

Another good day here. The future certainly looks attractive and bright.

It also helps that this stock is tightly held so that relatively small buys are able to push the price up. The directors are managing the business well.

[catchingmice] 29/5/2020 09:36

Motoring this now looking well for a massive push north

[pro_s2009] 29/5/2020 09:12

Still going strong, could it reach 120p before a pull back ?

[pro_s2009] 29/5/2020 03:02

We have to temper our expectations.

Similar situation over on PANR who have discovered oil in Alaska and have in fact potentially billions of barrels with the latest findings.

They have opened their data room and got interested parties in, including majors.

The issue with PANR and why their share price is low, is the same as JOG - to progress they need farm out.

To get a farm out is not easy, you need good assets and then you need a lot of parties interested.

If you get a lot of people interested, you get a good farm out deal as the companies will bid against each other. If you dont generate a lot of interest, you get a poor farm out deal as ultimately you need the injection of capital to progress the project.

What we need to see more demand return for oil and the continued ongoing supply destruction and forecasts of high oil prices in 2021/22/23/24/25.......

This will make all farm outs easier to achieve if you have oil discovered already with lots of upside.

[mariopeter] 29/5/2020 02:38

We all have the option to sell but I take the view that the Company is well placed to make gains and cash from farm-outs which are happening this year. I also feel the current oil spot price is irrelevant. Big risks big gains or big losses. Simple as.

For the record Equinor did not walk away they sold their interest in P2170 for considerable deferred consideration. Verbier they felt was too small and Equinor have always described it as a small field even after the first discovery well if you read back.

To understand why Equinor sold P2170 for considerable deferred consideration you have to study Equinor and I wish I had done it prior to them rejecting their option to buy into Buchan and the satellite discoveries. They were given a fairly tight window to exercise their option. They were busy bringing on-stream their only three UK oil developments all in 2019 .......Utgard, Mariner and Barnacle. They were also very excited about the launch of their flagship Johan Sverdrup at the time and they were having difficulties in the Gulf of Mexico although the latter point is just from memory.Perhaps they felt they now had enough exposure to the UK.

No one knows apart from Equinor why they walked away from the option but the paragraph above might give you some insight. It may also have simply been a Brexit issue. Equinor is a very different Oil Major from the rest in that it pays 80 (eighty)% tax. That may be relevant.

Anyway they left a legacy oil field Buchan behind for JOG which has subsequently been audited by one of the world's biggest Competent Persons. You must note it is Buchan that is the jewel in the crown now and not Verbier.

Oil does not have to be out of the ground to have value. You do not understand farm-outs if you think that.

Was not here for the last share issue in fact I was a little horrified at its timing .... I think in the run up to a drill.

Better discussion than ranting about a tiddly salary I feel. However if they fail to raise cash from farm-outs during 2020 I will have exactly the same concerns on cash burn rates.

[rbonnier] 28/5/2020 23:25

The directors harp on about how undervalued the company is but not one bar the chairman bought any shares why is that ? Griffiths sold his 10% holding no one was prepared to take them so he sold into an illiquid market taking the share price down to 50P the directors still were not interested in buying apart from increasing their salaries by 69% to further drain away what is now a dwindling cash pile.They should be acting in shareholders interests securing a Farm out increased share price a placing at far higher levels and then double their salaries we wouldn't frown on them for that.As it stands no farm out Equinor walked away major shareholders also running for the hills it's all red flags in the domain of the AIM casino where the shareholders get shafted .

[36redhill] 28/5/2020 22:12

They have proven reserves. No need for exploration so surely in a good position. Companies won't base a farm in on today's oil price. Much better placed than many others don't you think?

[rbonnier] 28/5/2020 20:18

You cant invest in this company with any confidence a placing next year will be highly dilutive with currently only 24 million shares in issue and the directors have hardly thrown any confidence behind the wheel with no share purchases at 50P ish apart from the chairmans token buy .All the directors have done is awarded themselves 69% pay rises draining the remaining cash at the bank by more than 10% pa which is hardly in the interests of shareholders no wonder Griffiths sold .

[kakapo1] 28/5/2020 19:24

Best to focus on the known facts...cash in bank, burn rate, holders who took the Rights at £2( did you subscribe Mario?). Schroders did and lost faith last year. Equinor once regarded as the Bee-knees, decided against a Partnership on any terms, they have sold their 70% in Verbier at a token price.
Oil in the ground is all very well, the cost of extraction is not free. Why has the market not quadrupled the SP, at least, given the latent value constantly touted?

In any relatively young company, not making profits just promises for the future, risks are entirely with the Shareholders, and Execs start ramping remunerations, PI's have every Right to be concerned, period

[mariopeter] 28/5/2020 18:34

Last farm out was to Statoil in 2016. Can you remember the oil price then? Actually it was $40 something dollars but the 3 years future price was likely much higher. The two year future price today must be around $60. Just guessing.