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The general trend for JOG over the last few years has been big jumps on news followed by a slow decline.
The last time it dropped to 150 was 2 years ago and it stayed at these levels for quite a while.
I suspect It's going to take more news to lift the price
Not so sure. Sure it wasn’t yesterday’s transaction. Think one needs to look at the price actions over the last few days. Could very well be a sell. Like Those two 400k transactions a while back, both sells. Price did ‘collapse’ from late 150s early this week. Personally I think it’s a sell. But we’re all guessing. Again it doesn’t matter; what matters is the price is where it is. Basically no big buys pushing up the price, even if this was a buy.
Almost certainly a buy. A sale of that magnitude would not have gone through at the share price. An 8k sell earlier in the day went through at 147.5p so no logical reason for a higher price on this one. This order has probably been floating around for a few days and MMs held the price down to generate sell trades.
Late reported trade for £ 100k - but is it a buy or a sell ?
Personally I feel no institutions buying in is they can’t see the direction of the company. What next? Sitting tight and waiting for revenue then dividends? If they’re assured the plan is to sell after fid then they will be more interested. Think AB’s sales pitch has to be more ‘defined’. All in my very humble opinion. Another 3 months’ wait. Share price?
We need inflows.back into AIM funds for institutions to buy JOG. AIM Fund managers are selling stocks to meet redemptions.
Given Benitz has failed to attract a single institutional investor at this point, I really don't see what he brings to the role. With the farmouts done now, if he can't bring in institutional money for shareprice stability at a higher level, then frankly I think he needs to go and we can make do with an Executive Chairman. (My first preference would be to completely cut down the BOD and put this into care and maintenance, but I accept that is highly unlikely to happen.) And before anyone starts jabbering on about not having faith in Benitz, it's quite obvious from the lack of holding announcements that the money managers also lack enough confidence in him to put a few quid of their funds under management into his leadership.
Storm in a teacup is a weak play on Cuphalfull’s handle. No very clever really. But the share price is so depressing.
I can only think that Benitez and the Board are happy about it.
Share price is depressing.
Meaning?
A storm in a teacup?
CHF. Share price going down = more sellers than buyers. Simple pimple. No conspiracy theories needed.
Did the SP not drop in the run up to previous milestones success announcement or am I imagining it ?
If they did, then its not beyond the realms of possibility that professionals are selling to depress the SP and get small holders to lose heart and get out while the pros pick up still very promising shares at knock down prices.
Cyril2, yes I do think it is rotten luck how things turned out re the CINOs/CADS since it was hardly forseeable that a "Tory" gvmt would behave in such a way; much more likely to be a disaster under LIEbour.
Why am I "so harsh" about the current CEO/BOD, well because the current CEO makes a ridiculous salary for someone who has presided over such shareholder value destruction, and has the nerve to claim he is underpaid whilst also taking large bonuses (for doing a job he has already been paid more than generously for doing.) He forced out the only real personnel asset that the company had at the time (RL) and tried to stack the BOD in a way which he thinks will be beneficial to him. He has unnecessarily announced hard deadlines which he then completely failed to keep without any advance notice to the market, and his only real experience in the O&G industry was when daddy appointed him at his company!
As for having current BOD members who have skills outside the NS - perhaps you could explain which particular members have suitable experience and where? (I assume you are not including Benitz in that, since his only experience at Longreach Oil was hardly a roaring success.) My research of Ithica indicates that really those chaps only have NS experience of any significance (and they ARE heavy hitters in that regard, no doubt.)
Those with any realistic understanding of how things are looking in the UK these days will accept that NS investment is simply dead for the forseeable future, and I would suggest that the cash received is either distributed to shareholders, or the board replaced, including the CEO, and the money used to diversify the company's focus as far away from the NS as it's possible to get.
In fact that post is on every board I look at - what's that all about??
This post by "Jilen" also appears on the LGEN board - click on the name and you get referred to admin - whatever that means.
Jilen, are you a Chatbot?
Alsoppc - thank you for that link - what has happened here ? - and who was JOG Laren ?
I do believe neo will proceed as planned. As for dividend earliest mid 2028 payment? Hopefully jog will be sold long before then. Happy Sunday all.
Cuphalful, my thinking for revenue not coming to jog from day one is down to thinking the oil will need to be transported and processed before it's sold, presumably through its own Ltd company such as this https://find-and-update.company-information.service.gov.uk/company/14746451 there might be assets capitalised on their accounts and depreciation deducted such as maybe the Western Isles depending on who actually owns that along with other costs before what's left is distributed to the shareholders of Buchan, and Jog gets its 20%, which is what I'm not expecting to be on day 1 of oil being extracted hence my comment I'm guessing that is still at least 2 years off.
DO, if it's just 'rotten luck' and/or the fault of the
Conservative Anti- Democratic Socialists (CADS), then why are you so harsh towards our BoD and CEO? There's a certain similarity in your posts to the late JS . I might argue we have exactly the right experience to deploy the war chest effectively in the current BoD. Perhaps you can name an idle exec or two who you would be happier to see at the wheel.
Re:alsoppc - "Is it not just more simply Neo I assume won't be paying a dividend to Buchan shareholdeds from day 1 of oil coming up so it's still minimum 2, maybe 2.5 years, until Jog start to receive a proper revenue stream "
I need some education here Alsoppc - Wont JOG get 20% of the actual revenue from Day 1 to distribute or not how it pleases - what has that to do with whether NEO chooses to pay a dividend >
I would certainly be happy to buy back my sold shares IF Neo decide at FID to go ahead, that will be the moment of truth. Right now, nobody with half a brain would come into NS juniors when there is the slightest doubt about project financing being approved going forward. The NS is now no longer a "stable postcode" for E&P, because of the immense taxation/theft risk; therefore anyone looking to deploy capital will be looking at higher risk jurisdictions which have the potential for much higher returns to investors, and on balance I personally think there is a much better risk-reward profile in many other parts of the world than the NS. It's all really rotten luck for JOG, because noone could really have forseen that the CINOs would behave this way, at least in the beginning; but to me it seems the most sensible approach would be to get a new BOD and CEO with a focus on other more profitable parts of the world, and start deploying JOG's cash pile in areas which could actually lead to material gains (for shareholders I mean, rather than HMRC.)
Meeting milestones enough assurance neo will 100% go ahead? If I’m a new investor I would ask myself that, also the long wait as so eloquently defined by alsoppc below. I don’t know if there were any bid approach in the past being turned down by our BOD, but I hope by now they’ve been woken up by the share price reaction and accept the only way out of this misery is selling the company post fdp as discussed many times here before. Happy weekend all. Miss your posts Dick! Hope you’re keeping well!
Is it not just more simply Neo I assume won't be paying a dividend to Buchan shareholdeds from day 1 of oil coming up so it's still minimum 2, maybe 2.5 years, until Jog start to receive a proper revenue stream, that's plenty of time to wait and buy-in and if I wasn't already a LTH and seen how the SP can double I'd be tempted to come back in 12 months before buying in. If there was any hint of Neo not coming through on this I've no doubt the price would be closer or less than money in the bank like it has been in the past as without Neo in my view Jog are effectively owning 20% of nothing. Given they've handed out now 80% of their share and the conjecture of Neo not proceeding (which I don't see any reason why they wouldn't, the 'P' is afterall an integral part of any E&P company) it would still be interesting to know if there's any penalty clauses for delays within Neo's control to keep Neo honest on the progression or at least if Neo decided not to proceed something to say Neo have to give their share of the GBA back. In the meantime I'll keep my shares tucked away and hope someone sees the long term value and buys them for a sensible price, if not, either way in 2 years time I'm sure I'll be very happy with my investment.