Jersey Oil And Gas Share Discussion Threads

[ssrover] 06/8/2018 08:47

Dead money in this. nothing happening this year in my opinion. told you guys months ago this was looking suspect!!

I never believed the initial well appraisal as it was issued without an extended flow test or others testing which would confirm the estimates . Also the wording between the rns's from the operator and jog were different . This is looking far more suspect imo

Without news this will continue to drift to at leat £1.50 in my opinion as there so many other plays out there with short term catalysts

[robo175] 05/8/2018 20:38

There's only one clueless cretin here and it's you, when are you going to answer the question, in fact don't bother.

ssrover filtered

[robo175] 05/8/2018 20:02

Answer the question rover

[kinkell] 05/8/2018 19:50

ssrover - filtered

[ssrover] 05/8/2018 19:22

What a rose tinted clown you are.

I have been right all along since feb on delayed times frames reported by the company, And you have been constantly wrong!!

"Please also explain why you doubt the company's estimates"

[hiddendepths] 05/8/2018 11:59

Reiterating the same old stuff ssrover.

If you want anyone to pay attention please give the words used by the operator and JOG so we can see the difference. Please also explain why you doubt the company's estimates. Are you a petroleum engineer? If not, why should we pay more attention to what you say than experienced professionals? And a link to your detailed spreadsheet of the project's economics under various scenarios would be useful too so please provide that - the company have thoughtfully provided us with estimates of development and production costs. If you don't have these things your words are empty air.

As for your 150 target - please explain the rationale for that number. And who do you think will be selling down there? And why? If people are happy to hold now and institutions were willing to pay 200p per share in the placing, please explain why they should sell out miles below that when nothing's changed apart from a slight slippage in the appraisal well. And how about the plentiful list of comparative stocks that you say have got "short term catalysts catalysts?"

If you're just spouting uninformed opinion, it would be better all round if you'd keep your waffle to yourself.

[ssrover] 04/8/2018 14:51

nothing happening this year in my opinion. told you guys months ago this was looking suspect!!

I never believed the initial well appraisal as it was issued without an extended flow test or others testing which would confirm the estimates . Also the wording between the rns's from the operator and jog were different . This is looking far more suspect imo

Without news this will continue to drift to at leat £1.50 in my opinion as there so many other plays out there with short term catalysts catalysts

[hiddendepths] 04/8/2018 14:47

It seems I am dim. I should have done this before. What do you when a poster adds no value whatever?

bones6983 Aug '18 - 15:59 - 2231 of 2232 (Filtered)

[hiddendepths] 04/8/2018 14:26

I've long been a fan of the Moray Firth and do not understand why it has been persistently overlooked by the industry. I was early into playing Buzzard (through the obvious share).

One of the things about Verbier is the proximity to the Forties pipeline, which should have spare capacity and that will ensure that even a modest find is commercial. Adding tie-backs to other discoveries also helps. My guess is that a lowish development cost is why the company was so swift to talk about recoverable oil.

I think Cortina looks a very good prospect and am very interested in the seismic result over that.

I note that the appraisal well is only scheduled to take 30-40 days so we're not going to have a long wait even though spudding has been pushed back (presumably to get initial seismic results first!)

bones - please explain to this dimwit why JOG is actively looking to buy PRODUCTION if it's not to utilise its tax losses. You clearly haven't got a clue how this works, not a single clue, yet you're swift to make judgements based on ignorance. May be better to do research before posting?

[bones698] 03/8/2018 15:59

Rogerlin good find I was aware there were changes but not when they came into effect .

Hidden depths judging by the above post your right you are pretty dim .

Anyway as I keep saying it's pretty desperate if your clinging onto the tax losses being worth something . First things first let's see how much oil is actually recoverable and at what cost .

I still do not for one second believe their initial statement and want to see far more evidence of how they came to that conclusion without proper testing

[hiddendepths] 03/8/2018 09:56

bones - so you couldn't be bothered to find out about the Forties units that BP created then. Your "pretty sure" is simply wrong. FWIW I was formerly a number 1 rated oil analyst in the City and if I'm pretty dim, what does that make you?

[rogerlin] 03/8/2018 09:31

Summary on page 2. I am not sure if this is all going ahead but implies that tax history can be sold with a field from Nov 18, I think potential purchasers of assets will wait for this.

[bones698] 03/8/2018 08:26

I think you will find that plenty of companies have gone under having huge tax losses especially in the oil industry . If your point is correct then why are they simply not bought out just before or even in admin for these losses by any oil company making a profit ??????

I'm pretty sure that losses can only be used by the company or against the assets they have and not transferred to other companies . Would have to check that though .

Simple fact is using he losses to gauge value is totally wrong and pretty dim tbh . Says a lot about a company and its prospects it your using them to add value tbh .

[hiddendepths] 02/8/2018 22:34

Don't you guys know that oil company tax losses are worth plenty? UK oil taxation is still pretty high and APPROPRIATE tax losses can be offset against these liabilities.

There is a long history of utilising such losses. If you really want to see how it works, find out what BP did with the Forties field and, more importantly, why they did it.

Of course, companies like JOG can use the tax losses themselves. But they need to buy some mature production to do that. Which is what they've been looking to do for a while now. At some point the right deal might come along. If not, JOG is a tasty morsel for some North Sea producer with nothing much to offset the profits.

But if you don't know this sort of stuff, I suggest that the value you can add to a thread like this is minimal. This is not particularly personal - most posters are pretty ignorant: it's the modern way for everyone to have a say, no matter how little they know. But you do seem to have rather strong views given your lack of understanding of the basics. Without a sounder grasp, your conclusions have little to no credibility.

[bones698] 02/8/2018 18:19

If you want tax losses there are any number of failed companies you could buy to acquire them they are worthless unless you make a profit which isn't likely here .

Nice to see some sad people have nothing better to do than look over many years old posts of mine and fail to realise they are ancient history and I have been back some time making money thanks . Gkp at 90p, tern at 3p etc but they fail to post the those posts .

Seems some are desperate on here but why doesn't that surprise me given the history here .

Seems some haven't got a clue about resovoir testing and pressure drop off to calculate recoverable reserves etc . Similarly no idea that tax losses are all but worthless . Then there is the abandonment costs and development costs of Vernier that I have seen nothing on .

Quite happy to watch this play out and just like the first verbier well that flopped and this tanked and they all ran off with their tails between their legs I expect a similar outcome once they realise the issues on verbier . Compartmentalised ,rough seas , expensive drilling costs and development etc etc

[itsriskythat] 02/8/2018 16:47

Tax losses are used to reduce the tax due, as tax is paid on gains minus losses - so not worth what it seems.

[hiddendepths] 02/8/2018 15:01

Let's see, market cap of £39m

Tax losses £25m
net cash end last year £25.6m

Placing at 200p and open offer 94% subscribed at same price. Share price now 178.5p.

So worth over £50m, even allowing nothing whatever for 18% of Verbier, partner Statoil.

Even if you are a Verbier doubter (and I'm not) looks compelling value to me!

Edit: Topped up and apparently moved the offer price!

[ssrover] 01/8/2018 23:53

nothing happening this year in my opinion. told you guys months ago this was looking suspect!!

I never believed the initial well appraisal as it was issued without an extended flow test or others testing which would confirm the estimates . Also the wording between the rns's from the operator and jog were different . This is looking far more suspect imo

Without news this will continue to drift to at leat £1.50 in my opinion as there so many other plays out there with short term catalysts catalysts

take NUOG, PLMO, COPL for example.

[rpt_regal_petroleum_buy_now] 31/7/2018 13:33

If you missed RPT RNS - you could say its a stormer - up 50% now...
Increased P1 reseves by around 1500%!!!!! Not going to comment on the rest, have a read....


Add to it 40 million USD in the bank
Heading for 4,000 boepd production....

Some comments from twitter below

#RPT A truly gigantic reserves upgrade for O&G holding #RegalPetroleum. About to catch a flight but am totally ecstatic by this news. Totally oustanding. 1P (proved) soar from 1.9mmboe to 27.8mmboe and a further 24 wells. Gobsmacked! investegate.co.uk/regal-petroleu…

Dont waste your time and miss the boat, this is still seriously undervalued.

[robo175] 31/7/2018 13:32

What an idiot, I thought I had filtered him, I have now.