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JOG Jersey Oil And Gas Plc

2.00 (0.88%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Jersey Oil And Gas Plc LSE:JOG London Ordinary Share GB00BYN5YK77 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  2.00 0.88% 229.50 30,795 08:00:23
Bid Price Offer Price High Price Low Price Open Price
225.00 234.00 229.50 227.50 227.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs -3.11M -0.0954 -24.06 74.71M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:58 O 6,000 229.50 GBX

Jersey Oil And Gas (JOG) Latest News

Jersey Oil And Gas (JOG) Discussions and Chat

Jersey Oil And Gas Forums and Chat

Date Time Title Posts
07/12/202318:10Jersey Oil and Gas - a new trap ?5,214
06/12/202307:11Jersey Oil and Gas - North Sea Oil4,147
30/10/202115:59Don't Lose Your Jersey-
10/2/202018:45JOG Mind the Gap. Careful of the paid Ramper44
31/10/201810:16Oil is Dead84

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Jersey Oil And Gas (JOG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-08 17:06:58229.506,00013,770.00O
2023-12-08 16:26:33233.001,4973,488.01O
2023-12-08 15:43:37230.001,5003,450.00O
2023-12-08 15:14:52230.006831,570.90O
2023-12-08 15:05:38230.001,3012,992.30O

Jersey Oil And Gas (JOG) Top Chat Posts

Top Posts
Posted at 08/12/2023 08:20 by Jersey Oil And Gas Daily Update
Jersey Oil And Gas Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker JOG. The last closing price for Jersey Oil And Gas was 227.50p.
Jersey Oil And Gas currently has 32,554,293 shares in issue. The market capitalisation of Jersey Oil And Gas is £74,712,102.
Jersey Oil And Gas has a price to earnings ratio (PE ratio) of -24.06.
This morning JOG shares opened at 227.50p
Posted at 04/12/2023 07:47 by ashkv
Sell overvalued and highly uncertain long term future JOG and move into JSE.

Please note this tip!!!

Superlative update and would hope for a solid bounce - but with oil market sentiment in the doldrums... might be a gift of a top up opportunity.

At a share price of 35p Jadestone Energy has an Enterprise Value of a measly USD 233million for TWENTY THOUSAND BARRELS OF CURRENT PRODUCTION WITH 27 to 30 Thousand Barrels of production likely on Akatara plateau in Q3 2024!!

Compare this with Enterprise Value per barrel of Enquest and Harbour in super high tax UK and even highly leveraged Tullow that produces offshore Banana Republics!!!

JSE Share Price: 35.00p
Brent: $78.50
JSE Current Share Price vs 52 Week low of 21p on 18 Aug 23: 66.67%
JSE Current Share Price vs 52 Week High of 93.2p on 8 Mar 23: -62.45%
Shares Outstanding: 540,693,017
GBPUSD: 1.2700
4 Dec 23 RNS Revised Upward Range Q2-Q4 2023 Average Production Mid-Guidance (14,500 - 15,000 Boe/d from APR 23 to DEC 23 ): 14,750
Jadestone Production Average from 1 Jan 23 to 4 Dec 23: 13,500
Current Production -> Nov 2023 last 2 weeks Avg Production (As per 4 Dec 23 RNS): 20,000
Production Average for 2022: 11,487
Debt (USD) (USD 200 Million Reserves Based Lending (RBL) Draw) as of 30 June 23: $111,000,000
Cash (USD) 30 June 2023: $118,782,000
Net Cash (USD) 30 June 2023 : $7,782,000
Available Credit (Remaining USD 200Million RBL Available + USD 35Million Standby Facility): $124,000,000
Market Cap (GBP); £189,242,556
Market Cap (USD): $240,338,046
ENTERPRISE VALUE (USD): $232,556,046
EV/Barrel(USD) Revised Upward per 4 Dec 23 RNS Mid-Guidance for Q2-Q4 2023 Average Production: $15,767
EV/Barrel(USD) Jadestone Production Average from 1 Jan 23 to 4 Dec 23 (Montara Offline Q1 2023): $17,226
EV/Barrel(USD) -> Nov 2023 last 2 weeks Avg Production (As per 4 Dec 23 RNS): $11,628
EV/Barrel(USD) 2022 Actual Average Production: $20,245
EV/Barrel(USD) 2024 Forecast Production Mid Guidance (24,000 Boe/d): $9,690
Decommissioning Expense (Asset Restoration - HY 2023 Results): $574,656,000
EV/Barrel (USD) Top Guidance + Decommissioning Expense Including NW Shelf: $40,361
2P Reserves (Boe) as of 31 December 2022: 64,800,000
EV/2P: $3.59
Bloomberg Analyst Summary -> JSE Target Price (Avg of all 5 Analysts Reviewing JSE per BBG) as of 13 July 23: 74.50p
% Upside to 12 Month Analyst Target Price: 112.86%
Posted at 27/11/2023 10:48 by ashkv
Compare JOG to Star Energy / IGAS (charts are incorrect as new IGAS sticker STAR - gives price history for prior firm with STAR ticker)

EV/2P of $1.10 - JOG multiples of the same and not even a producing firm!!!

New low for STAR today - surely given the market cap / enterprise value management should institute share buybacks / or at least a tender offer for 10% holder that has been selling down in trickles... rather than divert cash to long gestation geothermal projects that the market appears to value at Negative NPV!!!!

EV/2P at 1.10p with a 8.51p share price... unreal!!!

STAR Share Price: 8.51p
Brent: $79.43
STAR Current Share Price vs 52 Week low of 8.57p on 27 Nov 23: 0.00%
STAR Current Share Price vs 52 Week High of 25p on 12 Jan 23: -65.96%
Total Voting Rights: 128,092,404
Market Cap GBP: £10,900,664
GBPUSD: 1.26
Market Cap USD: $13,734,836
Net Debt-GBP (30 June 23): £4,000,000
Net Debt-USD (31 July 23): $5,040,000
Enterprise Value (USD): $18,774,836
STAR Actual Production Average Up to 30 June 23/Half Year 23 (Boe/d) 2,071
STAR Production Guidance (Boe/d) 2,000
STAR/IGAS Actual Average Production 2022: 1,898
EV/BARREL- Actual Avg Production Up to 30 June 23/HY 23 (Boe/d) $9,066
EV/BARREL-USD FY 2023 Guidance: $9,387
Decommissioning Provision HY 2023 Results (GBP): £63,991,000
Decommissioning Provision HY 2023 Results (USD): $80,628,660
EV/BARREL-USD FY 2023 Guidance with Decommissioning: $49,702
IGAS 2P Reserves Year End 2022 Boe ( 17,040,000
EV/2P $1.10

Interesting analysis of Star Energy / IGAS - at 11.6p the video creator has a Price / Book of Star Energy of 0.2 and at current/today's new 52 week low of 8.52p the Price / Book would translate to 0.15!!! Unreal!!!

STOCK ANALYSIS UPDATE - Star Energy by Rogue Trader

STAR ENERGY GROUP PLC - Croatian Geothermal Acquisition
Investor Meet Company 22 Sep 2023
The below is the most recent company presentation by STAR Energy / Prior IGAS
Posted at 26/11/2023 14:04 by popit
What will happen to the price of oil and JOG if there is a world recession?

What happens if there is another pandemic?

Oil price went below $20 during covid

Same thing will happen in the next pandemic that they keep telling us will happen soon

What will happen to the JOG price then?

It could easily fall to 50p or less
Posted at 24/11/2023 10:54 by ashkv
Kistos 2p reserves valued at the same level as JOG at 250p share price..

This with KIST production from Mime/Norwegian acquisition expected to increase by 5000 boe/d by early 2025 and near 15,000 boe/d...

KIST is currently producing 10,000 boe/d and has an Enterprise Value of USD 270million at a share price of 194p... How exactly is JOG "undervalued" in comparison with just reserves and nothing else for the next 3-4 years (or more)????

Crazy crazy markets

Based on operator estimates, 2P reserves at Balder and Ringhorne were 23.6 MMboe net to Mime at the end of 2022. In addition, Kistos estimates Mime has net 2C resources of 29.8 MMboe, largely comprised of additional upside in Balder and Ringhorne plus the 2021 King oil discovery. Including Mime, total Group resources will be approximately 80 MMboe.
Posted at 23/11/2023 07:19 by pro_s2009
Excellent news today !!

RNS Number : 3861U

Jersey Oil and Gas PLC

23 November 2023

23 November 2023

Jersey Oil and Gas plc

("Jersey Oil & Gas", "JOG" or the "Company")

GBA Farm-Out to Serica Energy

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf region of the North Sea, is pleased to announce that it has agreed to farm-out a 30% interest in the Greater Buchan Area ("GBA") licences to Serica Energy (UK) Limited (the "Serica Farm-out"). Upon completion of the Serica Farm-out, JOG will have a 20% interest in the GBA licences and a full carry on the capital expenditure required to bring the Buchan field into production.

Highlights :

-- Fully Funded : The transaction delivers material value to JOG and results in the Company having a fully funded 20% interest in the on-going Buchan redevelopment project

-- Strong industry partner : Serica is a leading mid-tier UK oil and gas company producing more than 40,000 barrels of oil equivalent per day, further strengthening the quality of the GBA joint venture

-- Milestone payments : $18 million of the $38 million cash payments attributable to the two GBA farm-outs will have been received upon completion of the Serica transaction

-- Value creation : Clear path to development sanction and first oil, with JOG's fully funded position meaning the Company is underpinned by exposure to zero-capex flowing barrels

-- Future cash generation : Once onstream, JOG will be a non-operated partner entitled to 20% of production from the Buchan field

-- Low carbon development : redeployment of an existing floating production, storage and offloading ("FPSO") vessel that is planned for future connection to a nearby floating wind power development makes the Buchan redevelopment solution the option with the lowest full-cycle carbon footprint
Posted at 30/7/2023 11:33 by pcok
Sounds like Sunak and Shapps will promote a powering up Britain from Britain policy this week. As an investor I want JOG to be valued realistically but obviously this is dependent on Government policy going forward. I completely accept that we have to move away from fossil fuels asap but there is a transition period to manage and simply banning North Sea oil in favour of Saudi or other suppliers does not seem to satisfy our national security needs or any green agenda. Although it may be unpopular with some sections of the electorate, including my children, I recognise there is a role yet for home oil and gas producers in the energy supply mix for some time yet. I conclude there is an excellent chance the JOG share price is about to respond positively to these new policy announcements.
Posted at 24/5/2023 21:03 by highlyunlikely
In case it's of interest, I've set out below the text of a post I made on the other board yesterday, in response to a question Greener had asked about JOG's tax losses. I expanded the subject somewhat - people can form their own views on the assumptions I uaed:
"TRAP acquired JOG in 2015 and changed its name to what it is now. The CI company (founded by AB and RL) is now a 100% subsidiary called Jersey Oil & Gas E & P Ltd. At the time the transaction was completed, TRAP (now JOG) had about £25m of unrelieved tax losses available for offset against future profits, in accordance with UK tax laws:

The Company has added to these losses since 2015, to the extent that the situation was described thus in JOG's 2021 financial statements: "At the year end, the usable tax losses within the Group were approximately £57 million (2020: £46million)".

The losses belong exclusively to JOG and not to anyone else - as they always will do. JOG is a stand-alone UK company, regardless of whatever agreements it may enter into with other parties.

Looking forward to 2026 (assuming that's the date of first oil from Buchan) my understanding is that, once production is established, the expectation is that production in the range of 30-35kboepd will be achievable. One assumes Neo has bought into this expectation, thereby giving it some measure of validation.

Assuming 330 days pa of production @30kboepd, a BC price of $75pb, Opex for JOG of $15pb (there shouldn't be much Capex as JOG will be substantially carried through to production) and JOG managing to retain 20% of the GBA licences, this could lead to a pre-tax profit per annum FOR JOG ALONE of something like $120m pa - or around £100m (significantly more than today's entire market worth) PER ANNUM.

Tax, of course, is the big unknown, with both Sunakhunt and Stoma seemingly intent on destroying an industry that is vital for our country's well-being and security. All in the name od cheap votes.

JOG's b/fwd tax losses will be a help, but they don't seem to me to be a game changer, given the eventual profitiability of the GBA licences.

Posted at 30/4/2023 07:28 by loglorry1
Terrible article and factually incorrect. There was no $24m minimum contribution from NEO. NEO have only committed $2m. JOG share price sold off because the farm out was a huge disappointmentment.
Posted at 06/4/2023 09:51 by ashkv
GBP 6.5 million -> JOG GBP 6.5 million Current Cash with JOG net of liabilities

USD 12.5 million -> 50% JOG of $25 million carry to Field Development Plan ("FDP") approval

USD 2 million -> $2 million cash payment on completion of the transaction

USD 9.4 million -> $9.4 million cash payment upon finalisation of the GBA development solution

USD 12.5 million -> $12.5 million cash payment on approval of the Buchan FDP by the NSTA

USD 5 million -> $5 million cash payment on each FDP approval by the NSTA in respect of the J2 and Verbier oil discoveries

GBPUSD = 1.24

GBP 6.5mn + (USD12.5/1.24) + *USD2mn/1.24) + (USD9.4mn/1.24)+ (USD12.5mn/1.24) + (USD 5mn/1.24) = GBP 30mn Cash with JOG or expected payments within the next 6 months to 24 months

So just on the basis of expected cash payments and cash on hand current market cap of GBP 85mn at share price of 260p is GBP 30mn cash or expected cash payment

Ridiculously low share price :(
Posted at 06/4/2023 06:25 by ashkv
Greater Buchan Area Farm-out

Thu, 6th Apr 2023 07:00
RNS Number : 5560V
Jersey Oil and Gas PLC
06 April 2023

6 April 2023

Jersey Oil and Gas plc

("Jersey Oil & Gas", "JOG" or the "Company")

Greater Buchan Area Farm-out

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf region of the North Sea, is pleased to announce that it has agreed to farm-out a 50% interest in the Greater Buchan Area ("GBA") licences to NEO Energy ("NEO").


§ Material value: The transaction delivers material value to JOG, including cash payments, funding through to Field Development Plan ("FDP") approval and a minimum 12.5% development expenditure carry to first oil for the 50% interest retained by the Company

§ Unlocks GBA resources: Unlocks the route to finalising the GBA development solution and monetisation of resources in excess of 100 million barrels of oil equivalent

§ Strong industry partner: NEO is a major UK North Sea operator producing approximately 90,000 barrels of oil equivalent per day and is backed by HitecVision, a leading private equity investor focused on Europe's offshore energy industry with $8 billion of assets under management

§ Value catalysts: Clear path to development sanction and first oil, with opportunity to create further value through additional farm-out transactions

§ Low carbon development: NEO and JOG are committed to evaluating options to give the GBA development flagship status for its low carbon credentials through the use of existing infrastructure and potential low carbon electrification options

Transaction Summary

In exchange for entering into definitive agreements to divest a 50% working interest and operatorship in the GBA licences to NEO, the Company will receive:

§ 12.5% carry of the Buchan field development costs included in the FDP approved by the North Sea Transition Authority ("NSTA"); equivalent to a 1.25 carry ratio

§ Carry for JOG's 50% share of the estimated $25 million cost to take the Buchan field through to FDP approval

§ $2 million cash payment on completion of the transaction

§ $9.4 million cash payment upon finalisation of the GBA development solution

§ $12.5 million cash payment on approval of the Buchan FDP by the NSTA

§ $5 million cash payment on each FDP approval by the NSTA in respect of the J2 and Verbier oil discoveries

The primary conditions precedent to completing the transaction are receipt of the approvals from the NSTA for the transaction and the associated extension of the Company's two GBA licences. Following completion of the transaction, operatorship of the licences will transfer to NEO.

The Company will be working in partnership with NEO to select the preferred development solution, having confirmed a short list of attractive options for the GBA which utilise existing North Sea infrastructure. The unstable fiscal conditions resulting from the introduction and revision of the Energy Profits Levy during 2022 have been challenging. As the joint venture moves forward towards first oil, which is targeted for 2026, it will be mindful of the future fiscal attractiveness of the UK.

The Company intends to farm-out additional equity in the GBA licences in order to ultimately retain a 20-25% carried interest in the development following FDP approval. NEO has an option to increase its 50% interest in the Buchan licence by up to an additional 37.5% in exchange for a further cash payment should any of JOG's equity share in the development remain unfunded ahead of FDP submission, with such payment being the pro-rated balance of future cash payments due to JOG post completion in relation to the GBA development solution and Buchan FDP as outlined above.

JOG remains well funded for its on-going and planned work programmes, with a cash balance of approximately £6.5 million as at 31 December 2022. It is intended that the cash payments anticipated to be received from NEO following completion of the transaction will be utilised to pursue the Company's stated growth strategy and provide additional working capital for the Company.

The Company intends to issue its financial results for the year ended 31 December 2022 in the second half of May 2023.

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

"We are delighted to announce this transaction with NEO Energy, a well-funded industry heavyweight and the fifth largest producer in the UKCS. The farm-out marks a major value creation moment for JOG, a significant de-risking of the GBA development programme, from both an operational and funding perspective, and provides the springboard from which to grow the long-term value of the business. We are looking forward to working collaboratively with NEO Energy to select the optimal development solution for the GBA and taking the project through to sanction and on into future production."
Jersey Oil And Gas share price data is direct from the London Stock Exchange

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