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| 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
|
|
|---|---|---|---|---|---|
| -0.50 | -0.92% | 54.00 | 11,021 | 14:35:45 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 52.00 | 56.00 | 54.50 | 54.00 | 54.50 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil And Gas Field Expl Svcs | -5.6M | -0.1713 | -3.15 | 17.8M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 14:35:37 | O | 6,000 | 52.625 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 19/9/2024 | 06:00 | UK RNS | Jersey Oil and Gas PLC Interim Results |
| 02/9/2024 | 06:10 | UK RNS | Jersey Oil and Gas PLC Buchan Project Update and Notice of Results |
| 13/8/2024 | 15:30 | UK RNS | Jersey Oil and Gas PLC Holding(s) in Company |
| 06/8/2024 | 14:44 | UK RNS | Jersey Oil and Gas PLC Change of Registered Office Address |
| 30/7/2024 | 14:05 | ALNC |  IN BRIEF: Jersey Oil & Gas down amid changes to UK energy profits levy |
| 30/7/2024 | 06:00 | UK RNS | Jersey Oil and Gas PLC Changes to the Energy Profits Levy |
| 05/6/2024 | 12:45 | UK RNS | Jersey Oil and Gas PLC Result of AGM |
| 05/6/2024 | 06:00 | UK RNS | Jersey Oil and Gas PLC AGM Update |
| 13/5/2024 | 17:55 | ALNC | EARNINGS AND TRADING: itim loss narrows; Vela trims EnSilica stake |
| 13/5/2024 | 06:00 | UK RNS | Jersey Oil and Gas PLC Final Results for the Year Ended 31 December 2023 |
Jersey Oil And Gas (JOG) Share Charts1 Year Jersey Oil And Gas Chart |
|
1 Month Jersey Oil And Gas Chart |
Intraday Jersey Oil And Gas Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 29/11/2024 | 15:06 | Jersey Oil and Gas - a new trap ? | 5,524 |
| 03/10/2024 | 09:50 | Jersey Oil and Gas - North Sea Oil | 4,194 |
| 30/10/2021 | 15:59 | Don't Lose Your Jersey | - |
| 10/2/2020 | 18:45 | JOG Mind the Gap. Careful of the paid Ramper | 44 |
| 31/10/2018 | 10:16 | Oil is Dead | 84 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 14:35:38 | 52.63 | 6,000 | 3,157.50 | O |
| 14:29:00 | 54.20 | 4,410 | 2,390.22 | O |
| 14:26:06 | 54.20 | 598 | 324.12 | O |
| 10:28:12 | 53.00 | 13 | 6.89 | O |
| 2024-12-10 16:25:56 | 54.00 | 2,000 | 1,080.00 | O |
| Top Posts |
|---|
Posted at 11/12/2024 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 54.50p.Jersey Oil And Gas currently has 32,667,627 shares in issue. The market capitalisation of Jersey Oil And Gas is £17,803,857. Jersey Oil And Gas has a price to earnings ratio (PE ratio) of -3.18. This morning JOG shares opened at 54.50p |
Posted at 01/11/2024 07:57 by the ant and Serica Energy, leaving JOG fully carried to Buchan first oil at its 20% interest (based on CAPEX expectations at FID), largely eliminating funding risk for the company. JOG is also funded for its share of ongoing FEED costs, and cash milestone payments under the farm out have left the company with £13.0m cash as of the end of June 2024, with a further US$20.0m to come in on Buchan FID. The current UK fiscal and environmental regulations backdrop under the new Labour government does create an element of uncertainty for the project, with FID not now likely until at least 2025 |
Posted at 01/11/2024 07:53 by no pah king Jersey Oil & Gas JOG LN - Oil & Gas Producers UK tax update provides additional clarity♦ In the recent UK budget the government announced an update to the UK oil and gas tax regime, alongside two sector consultations on long-term tax and environmental rules. In our view, these announcements have provided helpful additional clarity on tax for JOG and the company’s Buchan development project, and a route to further clarity in the coming months. ♦ What changes have been made to the UK oil and gas tax regime? In July the UK government confirmed that it intended to increase the Energy Profits Levy (EPL) to 38% (making the total UK oil and gas tax rate 78%), extend the end date for the EPL from March 2029 to March 2030, and remove the 29% uplift allowance for CAPEX against the EPL. These changes were all confirmed in the recent UK budget announcement, and see the tax relief available against CAPEX spent during the period of the EPL move from 91p per £1 of CAPEX to 84p. ♦ The government had also previously said it was intending to also look at capital allowances available against the EPL. Under the previous regime, companies could reclaim 100% of CAPEX against the EPL plus an additional 29% from the uplift allowance, for 129% overall. The government was hence indicating that it could not only remove the 29% uplift allowance, taking total capital allowances against the EPL down to 100%, but could then reduce these further below the 100% level. An oil and gas tax rate of 78% and extension of this to 2030 was already unattractive, but removing the uplift investment allowance and then potentially further reducing capital allowances against the EPL was seen by industry as potentially having a significant negative impact on new investment, both in existing fields and new developments. ♦ The government announced yesterday that it was leaving capital allowances available against the EPL at the 100% level. We view this as good news (relative to the potential alternative), hopefully helping create an environment where UK companies can continue to invest. ♦ What else was announced alongside the budget? The government also announced two consultations. The first is related to the UK supreme court Finch ruling earlier this year that consideration of scope 3 emissions needs to be included when granting environmental consents for new projects. This consultation has now begun, and is expected to result in new guidance in the spring. Calculating scope 3 emissions for new developments should be relatively straightforward, but it is positive to see the government getting on with confirming exactly what this needs to look like. ♦ The second consultation relates to UK oil and gas fiscal terms beyond 2030, and how these will deal with oil and gas price shocks. The EPL was originally brought in in 2022 to deal with the high oil and gas prices at the time, but industry has called for greater predictability around similar actions in the future. This consultation is expected to begin in early 2025, and we would hope for some guidance on new terms perhaps around mid-2025. Again, given the long-term investments required for new oil and gas development projects, it is good to see the government getting on with matters here too. ♦ What do we think this means for UK oil and gas? Overall, in our view the above provides helpful clarity for the UK oil and gas sector, and a route to further clarity in the coming months. Though the increase in the EPL and removal of the investment allowance is unhelpful (indeed we don’t believe the EPL, as a “windfall tax”, is justified anymore at all), these were already well trailed. The new news is that capital allowances available against the EPL have been left at 100% - changes here could have been potentially damaging and compounded the increases in the tax, and it is hence good to see changes to capital allowances have not happened. This still leaves the UK fiscal regime materially less attractive than many other countries, including Norway, where there are numerous investment incentives available. The two consultations are also positive, implying that the government understands that the scope 3 and post 2030 fiscal terms issues are potential impediments to investment, and that it is moving to sort these out on what looks like a vaguely reasonable timeframe. ♦ What does this mean for JOG and Buchan? In our view, the announcements yesterday were a positive step forward for JOG and its Buchan project. The increase and extension to the EPL, and removal of the EPL investment allowance, were announced in July (even if they were fully confirmed in the budget) and hence this news was already priced into the shares. The announcement of no change to capital allowances against the EPL and maintenance of these at 100% was new news, and in our view a positive given that the risk was that government could have reduced these. So while the tax situation is still far from ideal, it’s better than it could have been. ♦ The consultations are also helpful news – the Buchan JV will need clarity on how to approach scope 3 emissions in order to submit its applications for full Buchan approvals, so seeing this consultation now launched hopefully brings this clarity closer. It may also be the case that the Buchan JV, particularly partners NEO and Serica Energy, will want to see more clarity around long-term UK tax arrangements post the end of the EPL in 2030, and how these are expected to respond to future oil and gas price volatility, before committing to FID. As such, it is positive to see the consultation on this now slated to begin in early 2025, demonstrating both the government’s desire to work with industry to define this new tax regime, but also the government’s acknowledgement of the need to get on with it. ♦ So for the Buchan project, in our view, there is now a clearer path forward. There is an EPL regime that will, hopefully, be acceptable to all the partners (and, again hopefully, the wider industry). There is an ongoing consultation on how to deal with scope 3 emissions in development approval applications, with a target of concluding this in spring 2025. There is then an upcoming consultation on fiscal terms, with the potential for a conclusion and clarity here in, perhaps, mid 2025. Earlier this year Buchan operator NEO slowed work on all its projects, including Buchan, pending clarity on tax and scope 3, and this was likely to push FID into 2025 in any case. Given this, and the consultation on tax and scope 3, FID now looks more likely to be taken in, potentially, H2 2025, in our view. This should still allow Buchan to achieve our existing first oil assumption of mid-2028. As such, there is still a way to go, but in our view the budget announcements were a positive step forward for Buchan. ♦ Forecasts and valuation. No change. For our Buchan model, we currently assume that the EPL ends in March 2030, and at this point UK fiscal terms revert back to the 40% tax rate (30% ringfence corporation tax and 10% supplementary charge). While we expect the UK to establish some sort of additional tax to deal with higher oil and gas prices post 2030, we already model long-term Brent prices of US$65/bbl (inflated at 2%), so currently assume these are low enough to mean any new additional tax regime would not apply. ♦ Conclusion: JOG holds 20% in the Greater Buchan Area assets in the UK North Sea. Development of the main Buchan field, with expected recovery of over 70mmbbl gross and plateau production of 35mbbl/d, represents one of the largest oil development projects offshore UK. The outlying J2 and Verbier discoveries, both future tieback candidates, then add a further 40mmboe gross. During 2023 JOG agreed farm out deals with NEO Energy and Serica Energy, leaving JOG fully carried to Buchan first oil at its 20% interest (based on CAPEX expectations at FID), largely eliminating funding risk for the company. JOG is also funded for its share of ongoing FEED costs, and cash milestone payments under the farm out have left the company with £13.0m cash as of the end of June 2024, with a further US$20.0m to come in on Buchan FID. The current UK fiscal and environmental regulations backdrop under the new Labour government does create an element of uncertainty for the project, with FID not now likely until at least 2025. Nevertheless, in our view the underlying economics of Buchan remain strong, and we would expect the JV to progress the project to FID as long as sensible outcomes on scope 3 emissions and the long-term UK fiscal regime post 2030 are forthcoming. The shares are trading at a wide discount to our 525p total risked NAV, and we would expect any further positive news on the UK fiscal/environment backdrop, renewed UK North Sea CAPEX from peers, and positive news on Buchan itself to all help close some of this gap in the coming months. |
Posted at 01/11/2024 07:37 by market whispers ♦ Conclusion: JOG holds 20% in the Greater Buchan Area assets in the UK North Sea. Development of the main Buchan field, with expected recovery of over 70mmbbl gross and plateau production of 35mbbl/d, represents one of the largest oil development projects offshore UK. The outlying J2 and Verbier discoveries, both future tieback candidates, then add a further 40mmboe gross. During 2023 JOG agreed farm out deals with NEO Energy and Serica Energy, leaving JOG fully carried to Buchan first oil at its 20% interest (based on CAPEX expectations at FID), largely eliminating funding risk for the company. JOG is also funded for its share of ongoing FEED costs, and cash milestone payments |
Posted at 28/10/2024 07:14 by hsfinch I think he's got it about right. Market cap here is around 17million. It ain't worth that with Labour in power. If Reform gets in 5 years down the line, JOG could be off to the races. But that's a long shot. And I think JOG shuts down before then. |
Posted at 02/9/2024 07:22 by ashkv 2 months prior / End June cash was GBP 13mnGiven now it is September and the cash burn / share price should trade close to or below cash. 30p or thereabouts would be my re-entry price for JOG! Even than JOG has all the hallmarks of another AIM debalce E&P firm BLVN Bowleven!!! |
Posted at 13/5/2024 16:10 by value hound Update from Simon Thompson:Jersey Oil & Gas still has multi-bagger potential nnual results from North Sea-focused upstream oil and gas company Jersey Oil & Gas (JOG:146.5p) highlight the value being created for shareholders through the double farm-outs of its Greater Buchan Area (GBA) project even if the share price fails to reflect it. In April 2023, Jersey handed over operatorship of the project to its new partner, NEO Energy, and subsequently divested a further 30 per cent working interest on identical terms with Serica Energy (SQZ). It means Jersey retains a 20 per cent fully carried interest in the redevelopment project to first oil. Assuming the necessary regulatory approvals are received in the second half of 2024, Jersey will receive a further $20mn (£16mn) from its partners on the approval of the Buchan Field Development Plan. It will boost net cash to £26mn (80p) by the year-end, a sum that represents more than half of the company’s market capitalisation of £48mn. Effectively, the 20 per cent fully carried interest is in the price for £22mn even though underlying annual cash burn has been cut from £4mn to £3mn, so Jersey is well funded until first production in late 2026. To put the company’s undervaluation into some perspective, the Buchan field is forecast to bring more than 70mn barrels of oil equivalent (boe) into production (95 per cent oil). Based on a Brent Crude price of $70 a barrel, analysts expect peak daily production of 35,000 barrels of oil to generate more than $100mn of annual cash flow net to Jersey. Political threat of higher oil tax regime over-rated The chronic undervaluation reflects the current negative sentiment towards the UK oil and gas industry, which is being further undermined by the potential for further fiscal uncertainty. It looks misplaced. Analyst Daniel Slater at broking house Zeus Capital notes that, assuming Labour forms the next UK government, it will find it very challenging to make UK oil and gas taxes even less favourable than they are currently. Slater believes that Labour is more likely to act to maintain the current tax burden at worst, and more likely to map out a route to reducing it, with clarity on this issue paving the way for increased UK oil and gas capital spending. Analyst Brendan Long at brokerage WH Ireland points out that the UK government’s fiscal and policy support for the oil and gas sector is likely to be constructive. That’s because in the evolving geopolitical context, encouraging oil and natural gas exports from Iran and Russia (notwithstanding sanctions) while frustrating lower-carbon domestic oil and gas projects, which provide significant tax contributions and generate thousands of high-paying domestic jobs, is untenable. Long also highlights the increased fiscal precarity of the UK and the country’s developing balance of payments challenges. Depending on the result of the US elections later this year, global energy politics could lead to the next UK government implementing a more logical and coherent energy strategy that is supportive of domestic oil and gas projects. That’s because the US is funding the war in Ukraine against Russia in support of Nato members that are importing Russian oil and natural gas. This is both illogical and untenable, says Long. True, the negative sentiment towards the UK oil and gas industry has driven Jersey's share price down from 365p when the first farm-out was announced in April 2023 to well below the 205p entry level in my 2019 Bargain Shares portfolio. However, priced on a 76 per cent discount to the average risked net asset values of Zeus (616p), WH Ireland (705p) and Cavendish (534p), bottom fishers should be well rewarded from this deep value play. Buy. |
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 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 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. |
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