Jersey Oil And Gas Share Discussion Threads

[carcosa] 22/9/2022 07:19

So, cash position better than expected (but this is a side show)

Technical work mostly to be completed next month.

Constructive commercial discussions are also now "well" underway.

Field Development Plan (“FDP”) has been adjusted to align with the current scheduled licence expiry in August 2023 and, pending conclusion of a successful farm-out, they are on track to deliver on this.

In summary, I would say don't expect any farm out announcement for several months yet.

[pro_s2009] 22/9/2022 07:07

Interims.



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[nestoframpers] 20/9/2022 21:17

You don't want to read that other BB kakpo the fascist pro what ever he is called ruins all proper debate with his insistence on total control , yuk makes me want to throw up, megalomaniac .

JOG is a very good punt , but don't put the family jewels in.

[hsfinch] 15/9/2022 08:12

Lol...sp now 240p.

[kakapo1] 14/9/2022 14:14

Seems PI's on the other board are becoming impatient and nervious, with good reason. They are beginning to realise in the current environment a F/O should be a piece of cake. After all many other oilers, large and small, are moving ahead, leaps and bounds, whilst the sun shines! Suspect AB has lost the plot or more likely wants to retain control which most experienced Partners/Operators cannot stomach.

[nestoframpers] 10/9/2022 18:54

I arranged to meet Chole at the Dog and Duck , approaching the Pub I heard some groaning behind the bus stop and had a look , there was Chole on her hands and knees entertaining a couple of tramps , she couldn't say Hello obviously but gave me a friendly wave. Lovely lady.

[pro_s2009] 08/9/2022 12:25

New UK leader Truss seeks North Sea gas boost and rules out additional windfall tax
Truss tells House of Commons more production will provide greater energy security but aides say focus will stay on green energy to tackle cost-of-living crisis

7 September 2022 13:17 GMT UPDATED 7 September 2022 15:22 GMT
By Rob Watts in London

New UK Prime Minister Liz Truss told lawmakers she wants to see more North Sea oil and gas production to bolster energy security, but also faced calls to tackle the nation’s worsening cost-of-living crisis with a new windfall tax on “excessive” oil company profits and to meet carbon reduction targets by backing renewable energy.

Speaking at her first Prime Minister’s Questions in parliament on Wednesday, Truss said she would announce a price-capping plan on Thursday to help people pay soaring energy bills.

Truss promised the plan will “give people certainty" they can get through the winter with "the energy supplies they need and be able to afford it”.

“But we can’t just put a sticking plaster on it,” she added. “What we need to do is increase our energy supplies long-term. That is why we will open up more supply in the North Sea … that is why we will build more nuclear power stations.”

According to reports, the plan is expected to freeze domestic energy bills at the current level for this winter and next, paid for by government-backed loans to suppliers at a cost of up to £130 billion ($150 billion).

The new leader of the Conservative Party, who took over formally from the ousted Boris Johnson on Tuesday, also pledged a review of the UK’s electricity markets, which are linked to the price of gas.

Taxes dismissed

Truss rejected opposition calls for additional windfall taxes to fund the proposed price caps on bills, stating, "I believe it is the wrong thing to be putting companies off investing in the United Kingdom just when we need to be growing the economy."

An existing windfall tax that was introduced in May will be retained but Truss's official spokesperson stated: "The Prime Minister is clear that we will not be introducing any further taxes in this space, given that we want to see broader investment in domestic oil and gas production as a transition fuel during this current global crisis we face."

Call for renewables
As Truss was preparing to take the floor at the House of Commons, the government’s independent climate advisers made an official communication to the new Cabinet saying renewable energy and greater energy efficiency must be the answers to the twin challenges.

The Climate Change Committee (CCC) said the UK cannot address this crisis “solely by increasing its production of natural gas”.

“Greater domestic production of fossil fuels may improve energy security, particularly this winter, but our gas reserves — offshore or from shale — are too small to impact meaningfully the prices faced by UK consumers,” the CCC letter read.

We've written a joint letter with @NatInfraCom to new Prime Minister @trussliz setting out the positive case for action on energy efficiency, low carbon heat & renewables in the face of the current cost of living crisis. Read in full: pic.twitter.com/lW8F46wOIH

— Climate Change Committee (@theCCCuk) September 6, 2022
“Energy security and reducing the UK’s exposure to volatile fossil fuel prices requires strong policies that reduce energy waste across the economy and boost domestic production of cheap and secure low carbon energy.”

Campaign group Greenpeace also called on the UK to loosen its dependence on fossil fuels as soon as possible.

“The solutions to the energy bill and climate crises are the same. New renewables are now nine times cheaper than gas and home insulation could cut bills in half, saving in five years the equivalent of the entire output from new gas fields," it said.

“Our broken, gas-dependent energy market may be about to plunge millions of UK people into a winter of cold and hunger, and health experts have warned of a humanitarian crisis unless the government acts.

“This comes hot on the heels of a summer that has seen record-breaking heatwaves scorching the UK and Europe’s worst drought in 500 years."


Greenpeace insisted that “dependence on fossil fuels is behind both crises — tackling it is the quickest and most effective solution”.

More licenses demanded
The North Sea oil and gas industry earlier in the day called on the new administration to issue new licenses and for more rapid investment in the sector to mitigate the impact of high prices on consumers.

Trade body Offshore Energies UK (OEUK) warned of possible energy shortages this winter while global commodity prices could remain high for at least three years.

"The best way for the UK to ensure secure gas and oil supplies is by increased investment in its own resources," said Ross Dornan, OEUK’s market intelligence manager.

Production up

UK gas production increased 26% in the first half of 2022 compared to the same period last year, buoyed by new projects.

In a report published on Wednesday, OEUK said the increase could be "short-lived" without a surge in investment.

Without new investment, it will have to import about 80% of its gas by 2030, and around 70% of its oil, up from around 60% and 20% now, OEUK said.

“We need to see reform of the electricity market to ensure that the falling cost of renewable power is also passed on to consumers,” said the report.

The selection of Jacob Rees-Mogg, who has previously expressed scepticism over climate change, as the person to take charge of UK energy policy attracted criticism from climate activists.

Rees-Mogg previously blamed “climate alarmism” for high energy bills, argued for oil and gas companies’ profits to be protected and called for “every last cubic inch of gas” to be extracted from the North Sea.

Rebecca Newsom, head of politics for Greenpeace UK, said: “Rees-Mogg is the last person who should be in charge of the energy brief, at the worst possible moment."

[catchingmice] 08/9/2022 12:18

Let's hope news of a Farm out will be in 2022Fingers crossed as we've waited long enough

[nestoframpers] 08/9/2022 10:28

What fiend ticked me down ? come out you pathetic coward and show yourself.

[nestoframpers] 08/9/2022 08:59

Re bullson1's post 4.5 years might be a long time , peoples patience differs due to their situations . I have been in JOG a few months I think it will be a few months more to wait. I am not trading the highs I think my last buy was around 300p as I thought action was imminent.

[pcok] 07/9/2022 14:47

...and the person in charge will be Rees-Mogg. Ducks are lining up.

[pcok] 05/9/2022 13:31

Apologies fat finger... Truss acceptance speech specific reference to addressing energy supply as part of the solution. Clearly this points to improving local oil and gas supply. Anyone know of an oven ready resource proven FDP lying around?

[pcok] 05/9/2022 13:28

Truss acceptance soe

[catchingmice] 31/8/2022 15:17

I wouldn't be happy with that Broker paying a premium @ 2.69

[catchingmice] 31/8/2022 14:24

We should see the 2.90 marker over the coming days?Cannot guarantee it but it's looking hopeful

[catchingmice] 31/8/2022 14:20

2.67 is the resistance point maybe a good afternoon session and we will break it

[chessman2] 31/8/2022 09:13

Looks like another good day for JOG.

September is nearly upon us so expect more buying during the coming weeks.

JOG stock is very tightly held as long time holders are confident the share price will continue increasing. There is very little free stock available and it is therefore difficult to buy in size with normal market size being 2,000.

I wonder how the farm-out discussions are going or could it simply be takeover talks?

I think one of the big boys may be trying to eat us! We will see.

[catchingmice] 30/8/2022 13:51

Judging by the Tick Downs we must have some Sunak fansLMAO

[catchingmice] 30/8/2022 11:12

Truss is my Choice as Sunak doesn't have a clue about how the other half LiveNo problem with him and his Mrs as they are absolutely mintedHere's hoping JOG will finacially secure some of us Shareholders and put us in the RICH LIST of CelebritiesLOL

[chessman2] 30/8/2022 10:08

And September is very close so expect a lot of big hitters to arrive.

The news we have all waited for cannot be too far away

[pcok] 30/8/2022 09:58

Rise because of Times article I suspect. Truss to apparently push for more N sea oil and gas exploration.

[catchingmice] 30/8/2022 09:38

Breaking out after long consolidation

[bullson1] 22/8/2022 10:12

I don't want to get too involved but in an RNS on the 3rd March 2021 (which was just before the farm out process was launched) A.Benitz stated 'the intend that the farm out would be completed before the end of 2021'...it is fairly at the bottom of the RNS and it was an 'intent'. I also remember it being on a corporate presentation timeline that is on the website from that time.
I think things take much longer than anticipated and the change in business environment plus the new Team around Ithaca explains all of this and I don't have an issue with it for as long as it communicated to share holders and that's not happening in my opinion. I been a shareholder for 4.5 years but I have to admit that there is a significant difference between due diligence that the Management states and no communication at all. I personall started selling down recently for that reason, not a huge amount and I will keep holding a large amount of ahares but if no further updates on the farm out / sales process is provided within the rules of due diligence and aim/stock information then I will have to keep selling as I loose confidence in the company. I hope they find soon a better way of keeping their shareholders informed so they can gain back that confidence as the shareholders are the once who funded the company as well.