Jersey Oil And Gas Share Discussion Threads

[highlyunlikely] 27/10/2021 00:04

You lot really are thick. A child of average intelligence would have been able to understand what I wrote by way of explanation. Moxon is a UK resident. I don't know what his total income is or how he arranges his tax affairs. Let's assume he's only taxed at 20% because he's clever at things like tax. I assume he'll already be paying max NI. The market value of the shares he took up was approximately 155p on the date of exercise, so (if he pays tax at 20%) he'll have incurred an income tax liability @ 20% on an assessed benefit of 45p (155p minus the 110p he paid JOG for the option shares he took up) on 20,000 shares, leaving him with about £1,800 of income tax to pay. He actually sold 17,909 shares at 139.3p per share, giving him £24,947, less costs if there were any. He paid JOG £22,000 (20k x 110p)for the option shares issued to him, leaving him £2,947 to pay income tax due. So we now know he pays an effective rate of UK income tax of somewhere between 20% and 45%. I could work backwards and give you the exact rate but what would it prove? Only that you're a blithering eejut who is very, very confused. Moxon took up his full entitlement, which was 20,000 shares, not 6,000 - it's there in writing - in English too. Companies don't dish out cash to option holders ffs....they dish out shares in return for money. Give me strength. The general gist of Dunning Kruger Syndrome: "stupid people are too stupid to understand how stupid they are". I'm not suggesting anything btw :-) Please try again - everything you need to help you understand is there, written in English. Promise me you'll read it right to the end. Go on - try your hardest:

[rbonnier] 26/10/2021 22:18

Highlyunlikely Mr Moxon did not take his full entitlement in shares

20000 X 0.3 = £6000
2091 X 1.40 = £2927.4 + costs

Therefore Mr Moxon took £3000 in cash and £3000 in shares

[sigma3333] 26/10/2021 21:37

they should be much more informed than joe public as they have access to all available data. o&g is inherently risky. JoG have presented a range of recoveries and choose a P50 profile. As jts pointed out other teams onviously have different views. There is the opprtunity now to derisk any development with recent data from the p&a ops. With new data their P50 might become P10 or P90.

siggy

[rbonnier] 26/10/2021 21:36

Very well spotted kakapo1 looks like Mr Moxon took half in cash and half in shares a great vote of confidence that is !

[kakapo1] 26/10/2021 21:00

sigma, should Les Thomas, Martin Davey or any of the other Experts in JOG, be aware of the issues you and JTS raise?

[sigma3333] 26/10/2021 20:25

lol, they haven’t seen anything yet.......

JoG must make every possible effort to get hold of well pressure and saturation data from the planned P&A activity. It’ll be normal procedure to run slickline drifts prior to setting reservoir isolation plugs. They can put a memory gauge on the drift and run a gradient survey on way out. In ideal world would run to HUD in reservoir, but suspect Wellsafe would not want to go below WEG in tailpipe. A full pressure suite for essentially no extra cost or risk is the prize. Cased hole saturation logging might be a more difficult sell if a baseline TDT/CO/RST isn’t available. Cost with rigtime £500k plus per well. Money well spent imho.....

siggy

[kakapo1] 26/10/2021 19:56

Interesting exchanges between JTS and sigma, which have got investors on the other board worried to the point where they are imagining countless pseudonyms.

Here's another tit-bit to exercise the mind. Some believe the company were in a closed period when options and shares were sold. The options do not expire until 30th November, some 4 weeks away and plenty of time to exercise.
Is Frank Moxon being kept in the dark, or is he strapped for cash? He seemed unable or unprepared to fund £22K to purchase his option allocation (20000 shares). Maybe he has seen the light.

[highlyunlikely] 26/10/2021 18:29

Some days are better than others, RB. I seem to be tired all the time, which is annoying. Owning JOG shares hardly helps! Thanks for your concern and glad you have a sense of humour! I seem to be keeping the beast (PC) at bay - so far at least. Only the good die young, so all things being equal I should be ok :-)

[rbonnier] 26/10/2021 18:10

L😁L highlyunlikely hope you're feeling well too.

[highlyunlikely] 26/10/2021 17:52

hello - Mrs Bones here. All four of him are down the pub working out how to sound as if they're different people. He's taking things seriously and ordering 4 pints at a time, but with beer at 4 quid a pint I reckon it's taking things a bit far as he's always coming home pi55ed . Plus it's costing the 5 of us a fortune. Hope all 3 or 4 of you are well. Regards to the missus/es.! :-) just kidding.......

[rbonnier] 26/10/2021 17:23

we could do with Bones698 valuable analysis here too .What do you make of yesterday's option announcement Bones ?

[rbonnier] 26/10/2021 12:35

If there is no Farm Out or JV here yesterdays news was a red flag on that one for a few reasons then I'm afraid this will fall to a cash in the bank valuation of 50P If as I expect they kick this can down the road until next year I doubt it will be above 110P which is why they exercised the options at 140P so they didn't end up losing them.

[jtsouthern146] 26/10/2021 11:40

LOL!

Very well put.

Big oil sends its technical experts to data rooms for a good reason..

[sigma3333] 26/10/2021 11:29

Jts

"What number would you bet your billions on!?"

depends if you are buyin' or sellin' lol

siggy

[jtsouthern146] 26/10/2021 11:03

I see from this the bubble point is 1200 psi or so so struggle to see how field could be below bubble point as I think you're suggesting?

Some DCA here on slide 19 interestingly.

See the field level straight line WOR extrapolation.

hxxps://www.spe-aberdeen.org/wp-content/uploads/2020/10/Wednesday-Jersey-Oil-Gas.pdf

Mwahahahaha

[rbonnier] 26/10/2021 10:19

If what you guys say is all correct and I've no reason to doubt it isn't this looks like a white elephant and there will be no farm out or takeovers 143P bid I'd be running for the hills before it's 43 !

[jtsouthern146] 26/10/2021 10:11

Only the WOR its on a slide somewhere no GOR data to my recollection but interesting point. Will do some digging into JOGs material see what I can glean sounds like

[sigma3333] 26/10/2021 10:09

Jts
you seen the individual well production data ? Take a look at the gas & GOR rates.

Need to click on the "by Field"

hxxps://experience.arcgis.com/experience/50b61d215bff4072bf0649efe6e8d845/page/page_2/?views=view_2

siggy

[jtsouthern146] 26/10/2021 10:05

Although at well level the results of injection are pretty clear...

[jtsouthern146] 26/10/2021 10:03

Agreed on WOR. You're damned if you do and damned if you don't.

Maybe don't sink a few billion $ to find out though the basin is littered with such efforts but I don't think anyones' gone for a new platform where risks are like this apart from on Solan maybe which to be fair should have performed better.

[jtsouthern146] 26/10/2021 10:00

Just looked you up Siggy.. Your previous post

"The previous owner of Buchan are abandoning all wells next year leaving only a few million barrels behind. JOG are planning to drill the wells again from a shiny new platform and recover over 100 million barrels because they are smarter than Talisman & Repsol because, unlike the previous operator, they shall be injecting lots of water whereas Repsol only injected a little water. The fact that water was injected for 8 years and, after some positive response, was stopped after the watercut was rising rapidly everywhere and oil rates were dropping is seemingly lost on the JOG crew"

Spot on. Particularly the last sentence.. Its so obvious from the data the watercut was rising this whole thing infuriates me to the point where I should just not read this bloody forum!

[sigma3333] 26/10/2021 09:58

lots of character/noise in the Buchan WOR, bit dangerous to put a best fit line to give the answer you want, lol
siggy

[jtsouthern146] 26/10/2021 09:54

lol.. I prefer (as would most reserves auditors ive ever known..) to not use a simulator on something this complex.. all rel-perms are pseudos to some extent..!