Jersey Oil And Gas Share Discussion Threads

[baner] 18/9/2017 07:31

£0.7m is a lot of money for JOG! But the shares will surely fly North in the morning - 100p minimum. But with another dry hole, the downside will now be at least 7p worse than before this announcement. Maybe JOG will manage to place some shares during the next 30 days, that will keep them alive for longer. If not.........no good.

[oilretire] 18/9/2017 07:28

You can hardly suggest Statoil will be 'clutching at straws', of course it's still not a certainty but they will be going after this with good reason.

Nice to see shorters fry for a change

[irishlass2] 18/9/2017 07:23

Watch it fly at the open.

[irishlass2] 18/9/2017 07:22

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

Update re Verbier Well


Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company ‎focused on the UK Continental Shelf ("UKCS") region of the North Sea, announces that, further to the Company's announcement of 11 September 2017, the wireline log data from the initial exploration well, received late on 12 September 2017, has now been evaluated by the P.2170 Joint Venture partnership led by the operator Statoil (U.K.) Limited ("Statoil"). Indications of the potential for hydrocarbons to be present in a smaller accumulation up dip of the 20/05b-13 Verbier exploration well cannot be ruled out. Accordingly, over the weekend, agreement was reached by the P.2170 Joint Venture partners to target this resource with a sidetrack exploration well. All necessary approvals have been received and operations have now commenced.

Taking into account JOG's carry position in relation to the P.2170 licence, it is currently expected that JOG's net cost liability for this sidetrack will be approximately £0.7m, which will be satisfied from the Company's existing cash reserves and forecast receipts. Drilling of the 20/05b-13Z sidetrack exploration well is expected to take between 25 to 35 days and a further announcement will be made in due course as appropriate.

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

"Whilst we have been disappointed by the results of the original Verbier exploration well, JOG is pleased to support the operator's recommendation to undertake the drilling of this sidetrack exploration well. The joint venture partnership has now identified the potential for late Jurassic sands, similar to the water bearing sands encountered in the 20/05b-13 well, to be present within the hydrocarbon window up dip of the original well location, offering the possibility of a potentially lesser, but still commercially attractive, hydrocarbon accumulation."

[luisfrg] 18/9/2017 07:15

Clutching at straws...

[tmmalik] 18/9/2017 07:07

Side track wow

[irishlass2] 17/9/2017 13:33

Bones, I am basing it on technicals. Wouldn't you agree the charts show oversold territory?

[baner] 17/9/2017 07:30

Bones698

Empty balls can indeed bounce for a while! I totally agree with you - this is worth a maximum of 20p and unless the BOD can deliver the North Sea acquisition they have been talking about for long now, this will end up being liquidated at 0 value to shareholders. There were idiots buying this at 300p+ and there are now idiots buying this at 70p - as simple as that!.

[bones698] 17/9/2017 05:08

Lol desperate dreamers.

Irishlass and just what are you basing your comments that this is oversold on ?

The fact it has.about 2.3m in the bank and no assets left ???. Its worth 20p Now an that's where it will head

[irishlass2] 16/9/2017 08:54

"A decision on whether to drill a sidetrack will be taken after evaluation of wireline logs."

[rogerlin] 16/9/2017 08:38

"In the event a sidetrack is not drilled, the well will be plugged and abandoned".

Once they decide to plug and abandon that should take a week or so, and usually tugs are listed some days in advance of the rig moving off (although with Statoil you can never be quite sure because they often seem to have ships on long term contract which don't appear in the short term requirement listings). The rig has just has a visit from the Siddis Sailor which appears to be a supply ship, other than that just the two supply ships which have been around all along, no tugs close by.

Therefore IMHO it is still just possible that there might be a side track, in spite of JOG's statement that it was unlikely. Hope springs eternal!

[irishlass2] 16/9/2017 08:36

All the sellers will be out now and you will get new buyers looking for a bounce. Long term may be downwards but there will be plenty of opportunities to make money. Chart looks oversold and looking good for a rise.

[rogerlin] 15/9/2017 08:46

Still no tugs listed to move the rig.

[letmepass] 15/9/2017 08:33

Low volume today looks like the seller has cleared.. Awaiting next move

[euclid5] 14/9/2017 21:59

Bones was JOG a disaster....not if you got in sub 25p when it had a £1m cap with just 8m shares in issue & sold out after it farmed out to Statoil & reached over 300p

But agree the smart money would of sold off well before the drill results as a 70% chance of failure

[kirk 6] 14/9/2017 21:19

Agreed this will drop now I have made. Big profits this year just on smash and grab dead cat bounces.

[bones698] 14/9/2017 19:35

Kirk I made my profiting the short thanks and quite a bit more than a Muppet like you did.

So you value a company on.hot air nd dreams rather than fundamentals says a lot foe your investing strategy. Trap/jog has been a disaster pretty much from the start and nothing has changed . It has destroyed value and had next to no success at anything it has tried . Good luck valuing a company with your strategy. Once the traders have finished this will continue to drop just like the drop it saw and I said was coming from 230p. That's how you make serious money not little bits trading until you get stung

[kirk 6] 14/9/2017 12:02

It's the muppets like bones et al who Create these wonderful opportunities. Sold again at a profit will let it slip back abit now

[tutthetrader] 14/9/2017 10:19

Bought at 62p, sold at 90p canny for 24hours made 2k, lovely thanks..

[tmmalik] 14/9/2017 09:54

My target of 135p on the way

[lw425] 14/9/2017 09:46

The market is amazing.

Broadly speaking I agree with Bones.

But the share price has risen from 35p to 90p

Conclusion, in the short term, anticipating the decisions of clueless muppets can be more important than fundamentals.