Jersey Oil And Gas Share Discussion Threads

[scottishfield] 20/11/2017 16:13

Nearly 'buy' time again

[investordave] 20/11/2017 10:56

More weak sellers. Good riddance.

[mirabeau] 17/11/2017 18:06

Cheers cyan

[cyan] 17/11/2017 09:53

Good morning Mirabeau.
I have no doubt we have something VERY significant with more upside potential.

I have lost faith and trust in Tom Cross. Its just desperate PR to disguise their failure to progress the PERTH sour hub.

[mirabeau] 17/11/2017 09:50

Yes, but the very fact that Cross chose to draw comparisons with Verbier does indicate we may have discovered something of greater significance irrespective of the shortcomings of PMG

we shall see

[cyan] 17/11/2017 09:42

I would be very sceptical about anything PMG publishes. After they stated Athena could be tied into the Perth hub. Actually at the same time as releasing that guff they are spending millions DECOMMISSIONING the field. That's naughty PR.

As for Polecat and Martin you can read about them here;



"Crude oil tested from the Polecat and Marten discoveries is light and sour. As a result,the fields can only be produced through purpose-built sour crude facilities..."

They are rather small .

Desperate PR from PMG trying to exploit our good fortune.

Remember this; Tom CROSS could not develop the PERTH hub when oil was $115; I say no chance now or in any foreseeable future.

[rogerlin] 17/11/2017 08:29

As I understand it the oil in Polecat and Marten is sour and has so far been considered as part of a "sour crescent" development based on Perth. Presumably the oil in Verbier is not sour, at least we have not been told it is, indeed I can't find any comment on the oil quality. Statoil are keeping the details very close.

[mirabeau] 17/11/2017 07:19

From Parkmead's results this morning :-

'Polecat and Marten have the potential to be highly valuable to Parkmead given their close proximity to a number of possible export routes, including Perth. Parkmead notes the recent Verbier discovery made by Statoil in Blocks 20/5b & 21/1d, approximately 12km east of Polecat and Marten. Verbier lies in the same play fairway as these fields, and shares many similarities with them. The discovery at Verbier could have the potential to considerably increase the value of Polecat and Marten. '

-

An interesting insight from Tom Cross, a north sea veteran if ever there was one. He set up Dana. He knows and understands the NS better than anyone. His comments this morning regarding the Verbier discovery may suggest the discovery could extend beyond the 'immediate well bore'..

[investordave] 16/11/2017 16:15

So many small sellers. Why bother with so much more news to come? The share price could easily double or treble from here.

[timw3] 16/11/2017 10:23

im confident i will double my my by year end dave

[cyan] 16/11/2017 09:52

tim is better here than in UKOG. There's going to be wailing and gnashing of teeth there soon.

[investordave] 15/11/2017 16:23

That's a v big investment tim. You must be confident of success here.

[timw3] 15/11/2017 14:08

took 10k more today. near 95k now

[cyan] 15/11/2017 12:32

Have to agree timw3 reference UKOG. Trouble is , the penny has not dropped with the UKOG rampers. This extract clearly shows how non-commercial the testing is to date;

"Although these two KL1 zones are hydrocarbon bearing, the Company concludes that sustained commercial flow rates from the shale dominated KL1 could likely only be obtained via reservoir stimulation beyond the scope of its existing regulatory permissions."

Sounds like fracking required to me. Ummmm that would be popular.

Am content to wait for JOG's latest up date.

[timw3] 15/11/2017 07:53

Not good news at UKOG...Can see UKOG money moving to JOG!!

JOG update soon on their discovery

[ayesha4] 14/11/2017 22:26

Wonder what the next set of news here?

[the drewster] 14/11/2017 12:23

eye eye eye = i i i

[mesquida] 14/11/2017 12:16

Thanks Mirabeau. I had actually seen this some time ago, but had forotten about it.incidentally, I recognise your name, do you post On the KROMEK Board at times ?

[mirabeau] 14/11/2017 11:54

Why Jersey Oil is still an 'extraordinary buying opportunity'
By David Brenchley | Mon, 9th October 2017 - 13:42
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Why Jersey Oil is still an 'extraordinary buying opportunity'

It's not every day a share multiplies fourfold in just one day, but AIM tiddler Jersey Oil & Gas (JOG) has joined this exclusive club with an incredible rally following the discovery of oil at its North Sea Verbier Sidetrack Well.

Initial estimates from operator Statoil suggest the well, based in the outer Moray Firth, contains anywhere between 25 million and 130 million barrels of oil. Additionally, Jersey tells us, "this discovery provides valuable information to help better understand the prospectivity of the licence area", which also contains the Cortina prospect and Meribel lead. JOG has an 18% working interest in the license.

Jenny Morris, vice president for UK exploration at Statoil, said the find shows sidetracking the well was "the right decision". "This discovery proves that there could be significant remaining potential in this mature basin," she added.

Broker WH Ireland said the fact this is the only truly meaningful development for Jersey since initiating coverage in January, suggests "the market dynamics have created an extraordinary buying opportunity". It slapped a 441p target price on the stock.

Investors took the hint and Jersey shares surged as much as 435% to over 300p. Jersey's still trading well below the record high reached in April after drilling of the well was announced.

A setback occurred last month when the drill failed and JOG said it did not expect a sidetrack to be forthcoming and that the well would likely be plugged and abandoned. Alongside this, another of its interested prospects encountered no hydrocarbons and was abandoned.

That had a "preponderantly negative effect on the share price", WH Ireland's Brendan Long points out with the stock initially plunging two-thirds to 75p from 220p the day before. Today's news supersedes that failure, in Long's view.

It's a big turn of events for Jersey and, while many investors will still be nursing paper losses had they bought above £3, things are starting to look up. Now, it's "a strong-conviction buy" for Long. That's "due to an attractive valuation for buyers today combined with the company's positive value creation trajectory".

His price target, which implies further upside of almost 50%, is based on the mid-point of the potential find, 77.5 million barrels of oil, which results in a 588p valuation. "However, to reflect the early stage of the analysis we have included only half of that value in our TP," explains Long.

He further adds 141p for the Cortina prospects, "reflecting circa 15% of the best estimate success-case valuation based on our assumptions".

Long hopes his estimates are conservative, meaning there could be plenty more gains to come. That said, it's bound to be a rocky road and he admits it will take time for the market to fully recognise the materiality of the discovery.

[mesquida] 14/11/2017 11:50

Drewster, can you repost the link to the article mentioned above. I am having difficulty finding it, but given your brief comment re 588p it looks as though it would be worth reading the whole article. Thanks in advance!

[ayesha4] 14/11/2017 10:22

Taken 20,000 and 10,000 this morning

[the drewster] 14/11/2017 09:54

588p with potential massive upside.

eye eye eye .co.uk/articles/450488/why-jersey-oil-still-extraordinary-buying-opportunity

[timw3] 14/11/2017 08:40

I have started loading on the back of this news. Schroder's and L&G buying 9% is a big BUY signal for me.

[robo175] 14/11/2017 08:34

Interesting that schroders have took a stake and 9% thats quite big.