Jersey Oil And Gas Share Discussion Threads

[pcok] 11/4/2022 17:02

I think it is potentially worth a lot more.

[albo] 11/4/2022 16:19

Surely that note, a re-hash of last weeks govenment announcement isn't worth 16% on JOG!!!

[36redhill] 11/4/2022 13:16

cont'd
This is all helpful for JOG, both in terms of time achieving first oil from the GBA, but
also in terms of the company’s ongoing farm out process, where we would expect
potential partners to be further encouraged by the new government strategy,
promises of regulatory support and, potentially, focus on electrification, alongside
the persistently high oil price. The farm out process continues, and we await further
updates here.
Separately, we also note the recently announced acquisition of Siccar Point by Ithaca
Energy. Siccar Point’s portfolio includes the producing Schiehallion and Mariner
fields, but also the significant Rosebank and Cambo development projects, for a total
of 54mmboe of net 2P reserves and 470mmboe of net 2C resources. The US$1.46m
total acquisition price (including US$360m of contingent payments) plus US$391m
end 2021 net debt implies a strong US$34/boe of 2P and then US$3.5/boe of 2P+2C.
From the point of view of JOG, it’s positive to see significant cash being deployed in
an acquisition with a material development resource element.
No change to forecasts or valuation.
Conclusion: JOG’s GBA development project (based on the Buchan oil field and J2
and Verbier oil discoveries, alongside a number of exploration prospects) represents
a significant UK North Sea asset position. It puts JOG in charge of 162mmboe of
estimated gross 2C economic resources, based on the company’s standalone
platform development concept, implementation of which could see the GBA as the
base for a new hub development in the area (potentially also facilitating tie-back
development of any further JOG discoveries, and third-party fields). Other
development options, including tie-back to another regional platform or existing
floating infrastructure, are also being explored. Progression of the GBA
development project would make JOG an increasingly significant UK E&P company,
likely to draw increasing amounts of investor attention.
Going forward, we look for continuation of the important farm out process (on the
main GBA development, but also likely including the surrounding exploration
assets), where a wide variety of counterparties and development options is being
engaged with. Alongside farm out process updates, there is also the ongoing
potential for new production acquisitions as assets continue to change hands in the
UK North Sea. This provides plenty of potential for news flow in the coming months,
and beyond this a route towards first oil from the GBA. The £17.1m end June 2021
cash holding (zero debt) creates a strong funding position for the farm out process
and initial FEED work. In our view, the market is yet to fully appreciate JOG’s current
asset position, but progression through a successful farm out process and
subsequent development work should act as important events in demonstrating the
materiality and significance of this going forward. We have a Buy recommendation
and 700p price target.

[36redhill] 11/4/2022 13:16

Arden:

The UK government has recently announced a new UK energy strategy.
While this includes plans for significant new nuclear capacity, higher
generation from wind and solar and increased investment in hydrogen,
importantly it also gives oil and gas a key role in forward UK energy
supplies. This focuses on domestic production from the North Sea, both
from a carbon footprint (domestic volumes typically have much lower
emissions than those that are imported) but also a security of supply
point of view.
Alongside expressing the general support of the government for the
domestic oil and gas industry, the government announcement
mentions four particular actions. First is a new North Sea licensing
round for later in 2022. Second is the provision of focused regulatory
support for new oil and gas developments, aimed at reducing the time
taken to obtain required clearances. Third is a greater drive for platform
electrification, and fourth is a re-examination of onshore fracking.
In our view, the new licensing round is, amongst other things, indicative
of broader support for the future of UK North Sea oil and gas activity,
and the expectation of this continuing at scale over the coming years
and decades.
More specifically for JOG and its GBA development project, the
emphasis on new developments is particularly positive, in our view,
indicating strong government support for upcoming projects and, likely,
expedited clearances.
The mention of a drive for platform electrification is also helpful for JOG,
given the company’s plans in this area and the potential for it to also
attract partners looking to do this themselves.
More broadly, we think that the key role oil and gas is emphasised as
having for UK energy supplies over the coming decades will be
welcomed by the industry and inspire confidence for investment in the
UK North Sea. Continued on next page/
The UK government has recently announced a new UK energy strategy.
While this includes plans for significant new nuclear capacity, higher
generation from wind and solar and increased investment in hydrogen,
importantly it also gives oil and gas a key role in forward UK energy
supplies. This focuses on domestic production from the North Sea, both
from a carbon footprint (domestic volumes typically have much lower
emissions than those that are imported) but also a security of supply
point of view.
Alongside expressing the general support of the government for the
domestic oil and gas industry, the government announcement
mentions four particular actions. First is a new North Sea licensing
round for later in 2022. Second is the provision of focused regulatory
support for new oil and gas developments, aimed at reducing the time
taken to obtain required clearances. Third is a greater drive for platform
electrification, and fourth is a re-examination of onshore fracking.
In our view, the new licensing round is, amongst other things, indicative
of broader support for the future of UK North Sea oil and gas activity,
and the expectation of this continuing at scale over the coming years
and decades.
More specifically for JOG and its GBA development project, the
emphasis on new developments is particularly positive, in our view,
indicating strong government support for upcoming projects and, likely,
expedited clearances.
The mention of a drive for platform electrification is also helpful for JOG,
given the company’s plans in this area and the potential for it to also
attract partners looking to do this themselves.
More broadly, we think that the key role oil and gas is emphasised as
having for UK energy supplies over the coming decades will be
welcomed by the industry and inspire confidence for investment in the
UK North Sea. Continued on next page/

[arcadian] 11/4/2022 11:52

Pro 52 on the other thread for JOG draws attention to a note out today from Arden. Seems to have been supportive.

[arcadian] 11/4/2022 11:50

Thanks. Whatever they wrote seems to be encouraging/optimistic

[pro_s2009] 11/4/2022 10:55

Arden out an updated note on JOG today, so the rise is likely due to that.

[chessman2] 11/4/2022 10:23

Sooner rather than later news will arrive.


I’m confident here!!

[arcadian] 11/4/2022 10:20

What`s this sudden surge all about? Do some know more than others or is it just a herd?

[arcadian] 01/4/2022 11:19

One day Rodney ?????

[smackeraim] 01/4/2022 11:09

https://www.energyvoice.com/oilandgas/north-sea/399746/ithaca-energy-buys-summit-explorations-north-sea-business-for-224m/

[arcadian] 01/4/2022 09:29

Perhaps this company is waiting for oil to be in demand again so that it can strike a deal to sell some..

[smackeraim] 31/3/2022 11:31

back up then. imagine selling because you thought war was over and russian oil and gas would be a thing again

[mr del monte] 28/3/2022 17:16

He say - yes!

[smackeraim] 28/3/2022 11:52

https://www.telegraph.co.uk/business/2022/03/27/unshackle-drillers-let-north-sea-oil-gas-flow-ministers-told/

[nestoframpers] 25/3/2022 18:19

JOG had a Golden Cross on the 11th - 50 MA crossed the 200 MA

[smackeraim] 24/3/2022 11:48

'We'll open the North Sea taps to solve the energy crisis!' Government plans to increase oil and gas production to bring down spiralling power prices. https://www.dailymail.co.uk/news/article-10646295/Govt-plans-increase-North-Sea-oil-production-bring-energy-costs.html

[smackeraim] 23/3/2022 15:24

https://www.worldoil.com/company-news/2022/3/22/oil-and-gas-authority-changes-name-to-north-sea-transition-authority/

[smackeraim] 23/3/2022 15:21

Definitely one to watch. North sea noise is only going to notch up a level from here. JOG could end up rising on the same tide

[chessman2] 22/3/2022 13:48

JOG is also looking very interesting. IMO it also has much further to go!!

[cyan] 22/3/2022 09:47

Certainly is a very different , dangerous world now .

Energy insecurity and pure economics is causing some to re-think.

Must increase chances of further development's.

"Shell reconsiders its exit from oil field off Shetland"