Jersey Oil And Gas Share Discussion Threads

[scottishfield] 05/4/2017 15:38

Nice daily reversal, missed the bottom, holder.

[rogerlin] 04/4/2017 21:02

The 20/5a-10y well successfully tested an exploration prospect about three kilometres north of the Talisman operated Buchan Field and 12 kilometres southwest of the Tweedsmuir South Field where Talisman also holds a 94.43% equity interest. The well was drilled by the Ocean Nomad semi-submersible rig and discovered oil bearing sandstones of Upper Jurassic age. The well encountered two separate Jurassic sandstone reservoirs and upon testing flowed at a combined rate of 11,000 bbls/d of 39 degree API oil.

If the old Talisman well is really from the edge of the Verbier prospect, you would think that was very promising (although not all the flow was from the J64 sand). Presumably the oil was sweet since it doesn't say to the contrary? (The adjacent Polecat is sour).

[captain james t kirk] 04/4/2017 19:22

Is that pm or am.

[tmmalik] 04/4/2017 17:59

Looking for entry point,now soon after placing,placing around 2.30 I guess

[captain james t kirk] 04/4/2017 14:33

Transocean Spitsbergen has now moved onto the Repsol Norge Stordal prospect, well 6705/7-1 which is scheduled to take 33-48 days depending on what they find.

[squiresquire] 04/4/2017 14:18

Peter G didnt think so , he has grabbed his huge, actually humungously huge profit and .......legged it. Now that is the way to do it.

[kaos3] 04/4/2017 13:32

I am waiting for the airplanes fun to finish and then I Will ski. in a few weeks time. This specific rig has good omen/aura.

[kirkuk] 04/4/2017 13:00

Transocean Spitsbergen just finished a successful series of drills
for Hurricane West of Shetland.

[phowdo] 04/4/2017 12:49

They'd be mad not to raise some money now the rig is confirmed...

[ethics_gradient] 04/4/2017 12:43

Mesquida/Baner,

No way will JOG be able to raise 100% of the cash for a producing asset by debt alone. Some sort of equity fund raising will be required for sure IMO. Institutions will want to participate given last week's presentation and will require some increase in liquidity. The board etc will also join in any placing saying they are supporting the company business etc etc, showing faith by investing in future etc etc... They won't be diluted but PI holdings will.
Seen it too many times before. I have no problem with it provided the asset is value for money and enhances value for all.

P.S. Statoil have contracted Transocean Norway to drill Verbier, quell surprise!! Good decision of course as I am guessing they have had many successful campaigns already.

Lykke til

EG

[top tips] 04/4/2017 12:41

Here are the specs for the rig:

www.deepwater.com/Documents/RigSpecs/Transocean%20Spitsbergen.pdf

Currently located off Norway. Wait for it to start moving south:

www.marinetraffic.com/en/ais/details/ships/shipid:714041/mmsi:538004905/imo:8768517/vessel:TRANSOCEAN_SPITSBERGEN

[top tips] 04/4/2017 12:39

Superb news. Statoil just confirmed they have contracted Transocean Drilling UK Limited for the semisubmersible rig, "Transocean Spitsbergen". Unequivocally reaffirmed their committment to drill Verbier "in summer 2017".

[kirkuk] 04/4/2017 12:09

Rig Contract confirmed.

[kaos3] 04/4/2017 10:45

thank you for clarification. I did not research it. I just like skiing as I am from Slovenia. I guess I Will wait for the producer equity financing (if it happens) and Will jump than. now is a traders stock till the Verbier results.

[412069] 04/4/2017 09:36

Been watching this for a year and never had the balls to jump on well done all pi's it dosent look like stopping either.

[top tips] 04/4/2017 09:23

Won't be long before Statoil announce the rig for Verbier.

[mesquida] 04/4/2017 09:12

Peter G has been selling down his stake here quite aggressively and now holds less than 3%. If the Board do need equity finance then I think that they will find it fairly easy to raise from parties other than Peter G, but remember that the Board and their families have significant shareholdings and I suspect that they will not be keen to dilute those interests.

[wisecat2] 04/4/2017 09:10

Baner who mentioned $50m I think they are a little too cute to go crazy like that.

KAOS3 PeterG is actually Peter Gone

[kaos3] 04/4/2017 08:55

I follow JOG for some time. I just now realised that main shareholder is Peter G. I bumped into him several times (latest TREE). He has the cash to put down as equity if the need arises. I am still waiting for my first buy here - stupid me.

[blueball] 04/4/2017 08:49

I think they are worth 500p a share.

[baner] 04/4/2017 08:46

mesquida

if you would have done a minimum of homework on the subject of financing you would have understood that no bank would ever dream of lending Jersey Oil & Gas anything near 100% of the acquisition cost for a producing asset - the technical risks are too high, there will be uncertain clean up costs to meet, and there is always the oil price risk to consider too. so if JOG land a deal at say $50m, rest assured they will be required to come up with $15-20m of their own money to get a bank onboard. and a $50m deal would certainly not give JOG much of an upside.

[top tips] 04/4/2017 08:44

Bought some more. With the 37% resource increase for Verbier Malcy's £5 predrill price target becomes £6.85 and post drill on success becomes nearer to £14. Could be £20+ if Brent reaches 70 dollars.

[mesquida] 04/4/2017 08:33

baner, you say they have no money to pay for the acquisition of production interests, but if you had done the mínimum of home work on this company you would know that they have held extensive discussions with bankers regarding the financing of various potential deals. Admittedly none of these potential deals went as far as completion, but my impression is that they did not fail for lack of finance, it was more a case of JOG having a strict set of criteria which the vendors could not meet.

[milliecusto] 04/4/2017 08:26

My buy showing as a sell