Jersey Oil And Gas Share Discussion Threads

[kakapo1] 21/8/2022 08:22

Please read who Posts.
4485 by ALBO made claim that the FO would be completed by end of 2021.

My Post (4487) just directed to the RNS of 22nd November 2021, which confirmed negotiations in respect of GBA development, it' funding with several parties were active. IF the validity of that statement is incorrect/misleading as you suggest, your argument is with the BOD. I have NEVER stated the FO would be completed by end of 2021. Please withdraw such an assertion.

[carcosa] 21/8/2022 06:42

"That is a clear and unambiguous statement"

In other words some people have put their own interpretation on the wording to mean 2021 which was, in fact, never stated.

[kakapo1] 20/8/2022 18:38

Carefully read 4487, readers were directed to view RNS (22nd November 2021). The wording of the notice quite clearly states "We remain actively engaged with mulitple counterparties.......JOG has received expressions of interest from major infrastucture operators with respect to funding....."

That is a clear and unambigous statement any assertion to the contary is in the readers mind. It is now 9 months on, In the last few months many Oilers, large and small, have been actively getting E&P plans for the North sea, underway.

There are a few Shareholders(alsoppc for one) who are beginning wonder what is going on.
Any Wild Goose Chase has been engineered by the CEO.

Meanwhile cash is being burnt.

[alsoppc] 20/8/2022 13:57

I don't recall it ever being explicitly stated the farm out would be signed in 2021, but when Benitz stated in Q1 last year that 2021 was the year to unlock value in JOG and the farm out was being launched, it's not in my view a massive leap to take this as implying a farm out deal would soon follow, instead of being 18 months down the line and still waiting on news of when it will materialise and no other update than strong interest earlier this year which given we're 4 months on with no further update it's easy to start to think how strong could it really be. I'm not suggesting in anyway it was a deliberate attempt to mislead but given the favourable conditions of late I'm starting to wonder what more will it take to get a deal done. It will be transformational for them so can understand some hesitancy but I've been a shareholder 5 years now and so hopeful they'll get it over the line sooner rather than later. Here's the video where it was stated 2021 was 'the year' about 7 mins in

[carcosa] 20/8/2022 05:23

I looked at the implied RNS to which you refer.

There is nothing whatsover in the November 2011 RNS that supports the assertion of a farm out planned for completion last year.

If there is any evidence rather than sending me (and others) on wild goose chases perhaps a link and an appropriate extract would be the way to go.

Or just keep spreading false rumours/lies if the actual narrative does not suit your needs.

[kakapo1] 19/8/2022 18:24

Read the RBS last November when the Ex Ithica team came on board.

[albo] 19/8/2022 10:51

Nice find Pro.
A well written article which seems to paint a rosy picture for the pre-production companies with assets ready to go.

[pro_s2009] 19/8/2022 05:54

Patience.......

[carcosa] 19/8/2022 03:39

albo, I do not believe you. Where is your evidence?

[albo] 18/8/2022 13:00

Carcosa, they said the farm out would be completed by the end of last year too......

[bwm2] 17/8/2022 07:31

I'm very happy with the holding, in particular as they have someone with the pedigree of Les Thomas as Chairman. I did very well from Ithaca Energy under his watch

[carcosa] 17/8/2022 05:10

It took Equinor 4 years to get their deal underway. JOG have been at this for about 3 years. JOG have indicated for something to be announced by the end of this year.

Seems to me the short term shareholders are wanting to throw their rattles out of the pram already.

As things are going I'll be quite happy to wait another 2 years when the demand for O&G is likely much higher than today, the cost of money being no higher and likely less than it is today, and oil prices potentially higher still. Plus all those producing oil companies are becoming increasingly cash rich and the rich tend to overpay for assets :-)

Looking at the cash pile as a source of concern is laughable. That can be increased at a drop of a hat and if it did result in dilution then that gives me the opportunity to add further. However they have already stated they can get past April 2023 with ease and possibly through to end 2023.

As chessman says, be patient.

[kakapo1] 16/8/2022 18:27

The trouble is Shareholders have been hearing, be patient, for months and months, whereas other O&G co's in the NS have been getting theirs acts together, backed by several Majors. When the dark nights arrive, so may the disappointing news be dribbled out. Do'nt forget the War-chest is being depleted by the week. IMO AB wants to be top-dog and potential partners won't have it. Just remember why Equinor walked?

[chessman2] 16/8/2022 17:41

Wait until autumn and the dark nights arrive!!.

Good news here is just a matter of time IMO. Be patient.

[rbonnier] 16/8/2022 16:26

No news on AIM usually means bad news

[kakapo1] 11/8/2022 08:57

The speed of progress on GBA Farm out, is so slow, are there serious problems?

Other Oilers, Large and small, are making significant progress in the NS.

Equinor are charging ahead with the Development of Rosebank.

[thedudie] 03/8/2022 08:38

Things warming up here - just speculation or news coming ? Who knows !

[catchingmice] 03/8/2022 08:13

On the move early this morningLooking good at breaking the 2.75 level

[catchingmice] 02/8/2022 10:37

What we have seen is good Consolidation with the share price.We have certainly found a solid base over the £2 level and now the majority will be holding on for big rewards once we negotiate the Farmout

[chessman2] 01/8/2022 21:29

Yes exactly, I think we will slowly move higher.

Not too long to wait imo.

[carcosa] 01/8/2022 17:40

Why raise the issue of cash raising? You can answer the question yourself by reading the Annual Report.

Why surprised at current share price level; what's your rationale for being surprised?

Plenty of news; Tax, Parkmead, gas prices, Ukraine war... The only surprise is why the share price is not higher!

[rbonnier] 01/8/2022 12:39

Might be getting closer to a fund raising aswell how much cash is left ?
Never any news here im surprised the share price is still at £2.50 will know soon enough whether everyone here is going to be very badly burned or make a killing its one or the other .

[chessman2] 01/8/2022 12:03

IMHO MMs are doing their best to keep the price down as it appears they will not deal in anything exceeding normal market size of 2,000 shares unless it's someone selling.

It therefore occurs to me that JOG are getting closer to a deal.

[nestoframpers] 28/7/2022 08:36

Well it will soon be back at my last purchase price ! FFS why didn't I trade it and sell at 305p ! I was sure there was M&A close at hand and of course there will be one day .