Jersey Oil And Gas Share Discussion Threads

[rogerlin] 20/10/2017 08:50

"The proceeds of the Placing will be used to fund the expected Verbier appraisal programme and Cortina exploration drilling".

Looks like this is the plan then, we will not know what is really there until these drills have been done.

[bones698] 20/10/2017 08:44

Nametrade the share price rose on nothing but a gamble not fundamentals and I still believe there is a huge risk that this field is not commercial . We will see . The ones putting in at those levels were gamblers not investors . Let's see how this goes but I have my doubts on this fields commerciality In this region . Let's not forget those same people were saying 1000p a share yet here it is at 200p, hardly good news .

[bullet ant] 20/10/2017 08:31

BA HAS GIVEN AN EXECUTIVE ORDER FOR HIS ENTIRE COLLONY TO PILE IN AT THIS BARGAIN PRICE.


WE WANT THIS BACK UP.


FUNDING OUT THE WAY

25M- 100M, LET'S GO FOR MEDIAN ESTAIMATE OF 67.5M

KERCHING 1BILLION OF GOODIES FOR US


BUY BUY BUY


BA
STEALING IS GOOD

[bones698] 20/10/2017 08:28

Lmao exactly so why will they bother with a proxy field that is barely economical at 50m boo never mind 25m ?. Just look at Athena for the risks.and reward of fields in this area . Oil prices are nowhere near high enough imo o.warrant such a risk but of course you idiots know all this haha
Looks like traders are escaping fast roflmao

[ride daice] 20/10/2017 08:17

ROFL.

STATOIL. One of the largest companies in the world. And we can pay our way now.

[mostro] 20/10/2017 08:09

JOG, more like dog, pouring lots more of our dosh into an as yet unproven oilfield/s.

[bullet ant] 20/10/2017 08:06

VA VA VROOOOOOM TO 300P? WHO KNOWS

[bones698] 20/10/2017 08:05

Lmao well done all those that bought in and topped up.you idiots . Your now sat on.a.loss and will be for some time hahahahahaha. Given its not even been made commercial yet and I have my doubts ever Will be .

[talkman2] 20/10/2017 07:53

Your'e in fantasy land thinking this will go to 125p. Now fully funded this has a terrific future.

[csjcsl2] 20/10/2017 07:48

so 200p the equivalent of 400p in old money.so the current 250p is 500p of old money..gives a m/cap of £40=50m I think fair value at the moment.

[tsmith2] 20/10/2017 07:48

it was obvious..

[gersemi] 20/10/2017 07:38

20 October 2017

Jersey Oil and Gas plc

Placing to raise £20 million by way of an accelerated bookbuild

and

Proposed offer to raise up to £4 million ("Offer")

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company ‎focused on the UK Continental Shelf ("UKCS") region of the North Sea, is pleased to announce its intention to undertake an equity placement of £20.0 million (the "Placing"). The Placing will be effected by way of an accelerated bookbuild, which will be launched immediately following this announcement at a minimum price of 200p.

Arden Partners plc ("Arden") and BMO Capital Markets Limited ("BMO") are acting as joint brokers and joint bookrunners in connection with the Placing.

The proceeds of the Placing will be used to fund the expected Verbier appraisal programme and Cortina exploration drilling, following the recent oil discovery in the Verbier side-track well, 20/05b-13Z, and strengthen the Company's balance sheet as it continues to pursue its production focused acquisition strategy in the UKCS.

In addition to the Placing, the Company intends to provide all Qualifying Participants with the opportunity to subscribe for new Ordinary Shares ("Offer Shares") at the Issue Price, to raise up to £4.0 million before expenses ("Offer").

Andrew Benitz, CEO of Jersey Oil & Gas, commented:

"Jersey Oil & Gas is in a unique position with an 18 per cent. interest in Licence P.2170 containing the Verbier oil discovery which Statoil, the operator, initially estimates has gross recoverable resources of between 25 and 130MMboe, with a minimum proven recoverable volume in the immediate vicinity of the wellbore of 25 MMboe.

Evaluation of the well results alongside the existing 3D seismic data is ongoing and today's placing ensures that we are able to fund our working interest in this highly attractive licence once the appraisal drilling programme is confirmed by the operator.

Alongside this we have a strong pipeline of asset opportunities and are encouraged by the active deal flow in the North Sea. The additional funds will allow us to maintain our balance sheet strength as we continue to pursue a production-led acquisition strategy within the UKCS."

Expected timetable:

2017

Announcement of the Placing and Bookbuild commences

20 October

Dispatch of the Circular, Application Form and Form of Proxy

24 October

Latest time and date for receipt of completed Forms of Proxy and receipt of electronic proxy appointments via the CREST system for the General Meeting

12.00 noon on 7 November

Latest time for receipt of applications under the Offer

12.00 noon on 8 November

General Meeting

12.00 noon on 9 November

Announcement of results of General Meeting and Offer

9 November

Admission and commencement of dealings in the New Ordinary Shares on AIM and CREST accounts expected to be credited for the New Ordinary Shares in uncertificated form

8.00 a.m. on 10 November

[mesquida] 20/10/2017 07:36

Advfn do not seem to have any announcements this morning, but there is a placing here at 200p, and shareholders have the right to participate. Check the details on another site!

[tmmalik] 20/10/2017 07:30

First time I been able to sense placing Sold at 3.21Now buy back

[cyan] 19/10/2017 12:31

Good afternoon mesquida.

The 'about malcy' lift I posted shows positions he holds which presumably are salaried.

Some say he receives payments for helping to promote certain companies; I don't know.

Don't know if he gets much from clicks on his blog

[mesquida] 19/10/2017 11:53

Worth posing the question, just how does Malcy earn his crust ?

[rogerlin] 19/10/2017 08:21

Transocean Spitsbergen is in port for a spruce up and it looks as if it will be busy in Norway "Around the turn of the year the rig will head north to the Aasta Hansteen field in the Norwegian Sea where it will drill six production wells under a $95-million contract". A pity because it was efficient and has been a lucky rig for JOG.