Jersey Oil And Gas Share Discussion Threads

[cyan] 05/9/2017 17:55

JOG gets mentioned;

[rogerlin] 05/9/2017 17:27

Tugs now listed for Azinor to move the Ocean Guardian and so news from the Partridge soon.

At the Transocean Spitsbergen the Sea Falcon PSV alongside the rig, all seems to be continuing.

[georgie pie] 05/9/2017 16:25

Good point cash, it will certainly de risk cortina for us going forward. Malcy seems to think £10 is on the cards if Verbier is a winner but I still think that's conservative when the numbers are crunched and the fact we have only 10m in circulation is a massive bonus, but as always the market will ultimately decide the price.

[cashandcard] 05/9/2017 15:54

georgie,


In days gone by, I would've be happy with a 50% return. If this gets to WH Irelands April target of 378p, It'll have been more than worth it imo.

But as you say, the numbers in a success could be quite huge based on the original discovery and new data/mapping and surveys of the expected extension of verbier.

Also, if Verbier comes in, then it unlocks Cortina and Meribel, more barrels and value to go after.


Cash

[georgie pie] 05/9/2017 15:26

18% of the 162mmb down there would put JOG at way over £10 in my book, next week could well be very exciting indeed cash!!

[cashandcard] 05/9/2017 15:05

George pie,

Just bought a few K's worth in porty. I may add if it goes lower. A successful appraisal of the J64 discovery updip and beyond the flank will be significant for the area as a whole and JOG's 18% will be worth far more than 23million quid. Conversely, a poor result will hit the share price

The original discovery flowed at 4,800bopd & 2mmcfpd. Those results did not lie - there is oil and gas down there.

Not long for results now. If all goes to plan, I'd say we'll know something in two weeks.



Cash

[would be rude not to] 05/9/2017 14:42

The day to day price matters again, all of a sudden!

[shabbadabbadoo2] 25/8/2017 19:36

What does the day-to-day price matter?

This well either comes in or it does not. A few pence here or there will not matter when the RNS lands. Go and take a few weeks off as nothing will happen (hopefully!)

[georgie pie] 25/8/2017 17:29

46.8k buy or sell? I'd say it was a buy from earlier as there was more small sells going through but we stayed blue. Nice clue of what's to come I'd say 👍📈

[englishlongbow] 25/8/2017 13:38

Highlands Natual Resources (HNR)

East Denver - First of planned and funded 24 production wells reaches target depth around end of this month. Drilling into 1P "Proved Reserves" so high probability of success. Each well expected to produce 750 bopd.

They also have: Helios 2 - helium project (50x higher sale price than natural gas), and DT Ultravert (patented well reworking and protection system about to be commercialised - the value of which was raised in Jan 2017 by the addition of well bashing protection, to $78 - $135 million).

Makes HNR more like £2.50 to £3.50 near-term against 26p today. Could be about to rocket.

[georgie pie] 24/8/2017 23:05

Keep the faith chaps, it's early days and if we side track it could be another 2 months before we fully know the Verbier story. All I can say is Statoil reduced their exploration budget this year by 200 million and dropped a few sites but kept Verbier in their "top four" of wells to be drilled this year so if that's not a vote of confidence in what's down there I don't know what is, the free carry of the first £25m also speaks volumes to me. Of course nothing in this game is certain and we all know that but as far as chances go I don't know a better play with possible 500% near term upside. Roll on Sept and the best of British luck to all on the Transocean Spitsbergen for a safe and successful drill @ Verbier. 👍

[rogerlin] 24/8/2017 19:05

Statoil farmed in here very quickly. That is promising.

[pcok] 24/8/2017 16:48

Malcy states in his recent vox comments investors need to be very careful and manage their exposure to the risk here but, should verbier come in, north of £10 is possible.

I am watching this closely and am very tempted to place a short term (weeks not months) 'wager' on the outcome of the drill. As Justin wisely says in the same interview if you only invest 10% of your p/f you can only lose 10%.

Caveat Emptor applies particularly well here.

[impvesta] 24/8/2017 16:29

"dsmith5724 Aug '17 - 15:01 - 528 of 529 1 0
How wrong was fat Malcy and all the rampers on here that this would run up to £5 pre spud. Hot air. Now those who are in have a 30 % chance of winning. Worse than a coin toss."

I think Malcy is expecting the run up in share price between spudding and the well result, not pre spud.

[georgie pie] 24/8/2017 15:15

Maybe....but keep in mind a success puts us at £10, that's quite an upside from here. 📈

[dsmith57] 24/8/2017 15:01

How wrong was fat Malcy and all the rampers on here that this would run up to £5 pre spud. Hot air. Now those who are in have a 30 % chance of winning. Worse than a coin toss.

[bedroom ants] 24/8/2017 13:18

Looking strong again.

[donald trumpton] 24/8/2017 12:46

Absolutely.

This was Malcy on just the 14th August..


Jersey Oil and Gas
Much excitement round at JOG I imagine as the news is confirmed that Statoil has spudded the Verbier prospect over the weekend, a well that would totally transform the company. The well is expected to take between 30-70 days and may include a sidetrack, Statoil, (70%) are funding the first $25m and JOG (18%) gets a further cash carry of 10% of the well costs from CIECO. The well is targeting mean prospective resources of 162m barrels of oil equivalent and is given a 29% COS by ERC in their CPR. Higher than the normal wildcat in the area this is probably due to the significance of the 20/5a-10Y well drilled by Talisman back in 2006. At the analyst’s presentation some months ago much was made of this deviated well, it wasn’t targeting these J64 sands but passed through them and tested oil and gas on the intersection. JOG clearly feel that that intersection to be within the south eastern flank of the Verbier prospect and thus the reasons for being so optimistic.

JOG is not purely a play on this well but it is fair to say that a good result here would be a game changer for the company. The highly experienced team at JOG have spent time building a portfolio and intend to continue with acquisitions of exploration and production assets. Accordingly it is worth noting that Azinor Catalyst are apparently about to spud on the Partridge prospect where JOG have an interest. As a result of the farm-out, should a discovery be made then JOG would receive a $2m payout with another $2m should a formal FDP be approved. Furthermore, success on Verbier would likely be good news for the Cortina prospect on the same licence which is targeting the same Upper Jurassic J64 sandstone. JOG went into the bucket list in February and has performed very well having started at 114p and traded as high as 317p and now settling at around 250p. Investors will be aware that there is potential downside if this well doesnt come in but JOG has plenty more to offer, if however it should be successful then the shares will justify a significantly higher price, well above 500p in my estimation.

[georgie pie] 24/8/2017 12:34

I don't suppose Malcy has any more insight into this than we do, I'm sure his meetings with AB are just listening to the potential of Verbier and what it could mean for JOG.

I still holding as I believe Verbier will be a company maker very soon.

[donald trumpton] 24/8/2017 12:19

I'm still adding down here mind..

[donald trumpton] 24/8/2017 12:19

Has Malcy made a boo boo?

[georgie pie] 24/8/2017 08:35

Is that blue I see before me?! 📈

[georgie pie] 23/8/2017 22:05

At least the oil price is holding up nicely at $52+, lets hope it's $55 when Verbier comes in a few weeks from now.