Jersey Oil And Gas Share Discussion Threads

[trulyscrumptious] 17/2/2017 15:24

Thanks for that link mikeroot5

Plenty of upside if successful. I like this part.
--------------
'...a successful exploration well at Verbier would discover 113 mmboe of recoverable oil (gross), which would have a value net to Jersey of $134.4M. Given the current market cap of £20 million, there seems huge potential here.'


hxxp://buff.ly/2lps7eO

[trulyscrumptious] 17/2/2017 14:26

I managed to buy 20,000 last week in two tranches circa 160p. Couldn't buy all in one go but glad I got those as it's up substantially already. I was buying for the medium term, to sell half when drilling gets under way and keep the rest for the long term. The big seller seems to have stopped.

[captain james t kirk] 17/2/2017 13:33

In one sense that's right but in another there's a price to sell and a price to buy.
The price rises will continue to winkle out the sellers.
Still can't buy anything on line and that's even after the 10000 and 2000 sells at 1.25 and 1.27.
Someone's just paid £2.25 for these.

[cyan] 17/2/2017 13:21

With hindsight the share consolidation was too extreme. If we drill successfully I would recommend a 10 for 1 increase in the number of shares.

[captain james t kirk] 17/2/2017 13:14

They are still desperately short of stock on this.
Can't even buy 250.

[cyan] 17/2/2017 12:15

Malcy thinks JOG is cheap

[mikeroot5] 17/2/2017 11:03

Good coverage of today's RNS in the Penny Stock Post - he seems very bullish on the prospects of JOG. Thinks are looking good going into the summer.

[rogerlin] 17/2/2017 08:48

He is nearly down to the 500,000 shares carried over from Trap, can't sell those without taking a loss and might prefer to hang on and see if the drill comes in?

[trulyscrumptious] 17/2/2017 08:41

We could almost do with a few more shares on the market as the few that are in circulation are tightly held. Not too many people will be willing to sell for a while as the summer drilling is getting too close to be out of these for now. We could do with Gyllenhammer selling a few more.

[captain james t kirk] 17/2/2017 08:26

Since yesterday afternoon, this has moved on very little volume.
Today's rns continues in the right direction.
I wonder if Gyllenhammar has stopped selling as stock is very tight.

[trulyscrumptious] 17/2/2017 07:10

Things seem to be progressing nicely. From today's RNS.
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Andrew Benitz, CEO of Jersey Oil & Gas, commented:

"We are pleased to report the continued progress being made by Statoil in preparation for drilling the Verbier prospect this summer, as well as our ongoing additional technical evaluation of the prospect. Our team also remains actively involved in multiple sales processes targeting possible production acquisitions in line with our stated strategy."

[wisecat2] 16/2/2017 20:47

You've lost me.

[trulyscrumptious] 16/2/2017 20:16

This is over a month old but gives some info and shows not everything, just most, is relying on Verbier.

[...]

How long do they need to interpret and digest the results of the survey? I suppose we may hear news any day now.

[trulyscrumptious] 16/2/2017 16:21

Oh JOY!!! I mean JOG!!! Moving back up nicely.

Looks as though they are running out of stock, we could almost do with a few sells.

[wisecat2] 15/2/2017 15:55

How about something mellow and appropriate like...

"(SOMEBODY ELSE BEEN) SHAKING YOUR TREE"

That would be the MM's for sure

[wisecat2] 15/2/2017 14:46

A point well made Mesquida but don't be hard on yourself CJK,you do have to read it several times before lunch. I still don't think the majority of people understand this or what it means to JOG but with the price performance do they care. haha

[captain james t kirk] 15/2/2017 14:22

Yup, apologies,I've checked with the Company and the 10% from CIECO starts for the base costof the drill ie zero.
I've been the silly one :)

[mesquida] 15/2/2017 14:18

captain kirk, thanks for the link but it actually rather proves my point. The relevant part is......
On completion of the Farm-Out STATOIL will hold 70% as operator and the Company ( i.e. JOG ) will retain 18% of which 10% will continue to be carried by CIECO pursuant to the pre-existing arrangements between the parties.

In other words, what was arranged before, still stands. Put another way, the Farm-Out with STATOIL is a completely different issue to the previously arranged carry with CEICO.

Hopefully the Company might clarify this issue at some point in the future, but in the meantime I remained convinced that my interpretation is correct.

[captain james t kirk] 15/2/2017 13:07

mesquida
You are starting to look a little bit silly with your continued insistence that JOG will mysteriously get $2.5 million from CIECO if the drill cost comes in at $25 million and then 10% thereafter.
The 10% will only be applicable to cost over runs as stated in this paragraph of the relevant rns:
"Statoil will fund all costs up to US$25 million in respect of the first exploration well to be drilled on the P.2170 Licence (the "Exploration Well"), with any cost over-runs to be satisfied by each party in proportion to their working interests."

[wisecat2] 15/2/2017 10:58

183-88 no real offer of stock

[trulyscrumptious] 14/2/2017 22:34

Of course, the figures become incredible should the drill be successful, surely there would be a take-over almost immediately?

[mesquida] 14/2/2017 21:55

And do not forget, trulyscrumptious, that we have the benefit of a double carry on this well. My previous posts 166 and 168 outlined the attractiveness of this state of affairs, and whilst not everybody on this board agrees with me, I have to say that I am very confident that what I posted previously is in fact correct. In brief, STATOIL will pay all drilling costs up to a maximum of $25 million, and CEICO will pay 10% of all drilling costs without limit. So if the cost of drilling comes in at $25 million then STATOIL will pay all of this and then CEICO will pay $2.5 million to JOG. In other words, JOG has nil expenditure and yet their bank balance increases. What a fantastic position to be in, and perhaps it is the realisation of how fantastic their position is that is currently driving the price sharply higher now. After all, $2.5 million is no mean sum when you are capitalised at less than £20 million.

[trulyscrumptious] 14/2/2017 19:23

And JOG is at about 9.25 into the bucket list blog.




Malcy says his people at Stat Oil say it is in their top 4 prospects to drill this year.
If it is a success he says it will go into the stratosphere for Jersey but there are also 2 or 3 other prospects on the same block.

Not very many shares in circulation, only 9.92m, so we can expect every man and his dog over here soon.