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TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake Watch Now

TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
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Jersey Oil&gas Share Chat (JOG)

Share Price: 62.00Bid: 60.00Ask: 64.00Change: 0.00 (0.00%)No Movement on Jersey Oil&gas
Spread: 4.00Spread as %: 6.67%Open: 63.50High: 0.00Low: 0.00Yesterday’s Close: 62.00

Share Discussion for Jersey Oil&gas

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Posts: 129
Opinion:No Opinion
RE: dickupham speaks and JOG rises.....
25 May '19
You are right Noix...the West Phoenix now only shows booked until Nov19 for Equinor Norway/UK however I have seen on Seadrills homepage under the fleet status report (updated 23rd May) that the West Hercules has now an option for Apr20 til June20 for Equinor, it doesn't say if its UK or Norway yet though...they already got it booked for Equinor Norway from now until Mar20 but the option for Apr til June is new. So what I am trying to say is that there are plenty of options for further drills. The West Hercules is the same class as the West Phoenix.

I am too are very optimistic since the current share price only factors in the cash value and as there are several catalysts that can bring us back up to a) fair value around the 230 pence mark and b) beyond that in case of new discoveries or increased recoverable oil amounts in the existing discoveries:

- purchase of a producing asset could happen anytime really as we know they are trying hard, and we know it will be a good deal since they are very selective to make sure its good value. The tax credits we got are GBP30 milllion, that is a huge benefit and turns into cash once we produce
- full results of the 3D seismic analyzed with the well results etc will allow Equinor/JOG/Cieco a full evaluation of the block and beyond and commit tp further appraisal drills and or exploration drills, maybe a multiwell program even?
- 31 Licencing Round with possible new blocks and licenses for the group. This could easily increase the oil reserves at least on P10 and P50 levels.
- OGA pushing forward with a hub development. I wouldn't be surprised if it is a condition for the bidders to commit in driving this hub forward in case of a successful bid.

Exciting times ahead.
Posts: 1,244
Opinion:No Opinion
RE: dickupham speaks and JOG rises.....
25 May '19
I appreciate your comments, Herron - and your amusing header. Ha ha.

I'm a bit more optimistic than you re when a follow-up appraisal well might be drilled. I guess a lot depends on what becomes evident when all the data from the last drill is merged with the new 3D seismic data and fully analysed. Reading between the lines, the area to the NW of the discovery well seems to be favoured for a further well - and "Verbier Deep" seems to have emerged as a live possibility.

It will be interesting to learn what, if any, new licences are awarded to JOG (and partners?) in the 31st Supplementary Round allocations. That's assuming applications were submitted by one or more of JOG and its partners. Nothing has been definitively said about the position. Given Verbier was thought at the time to be the biggest UKCS discovery of 2017, it would be no surprise if this hadn't sparked the OGA's initiative to run a supplementary round concentrating on the Greater Buchan Area. I don't know how these things work but it would seem a bit odd if Equinor (as operator) hadn't shared data from Verbier with the OGA. If it did, I wonder what might be thought fair recompense for the P2170 partners?

Look fwd to finding out what your digging unearths re the West Phoenix, noix

We live in interesting times.............there's a lot going on.

Risk can never be removed


Posts: 252
Opinion:No Opinion
RE: dickupham speaks and JOG rises.....
24 May '19
West Phoenix is booked to Equinor for the period May 2019 - November 2019 in Norway/UK waters.
When I have a bit of time I'll have a scout to see what else they are up to.
Posts: 47
Opinion:No Opinion
dickupham speaks and JOG rises.....
24 May '19
It has been very reassuring having your measured opinions these past two years and some. Acting on the mantra
"buy shares when they're cheap" (and to bring my average down to £1.50, I have bought twice this week. Our leaders paid themselves a £10k bonus last year and what a good decision it was to raise £24million when the sentiment was right. I suspect that we will have to wait well into 2020 for another drill but maybe I'm wrong. Perhaps the licencing awards and the data analysis will promote an earlier drill. Success of any kind would make new funding much easier.

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