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Friends is a pretty strong word for all the nonsense your kept spouting. I do so hope you followed your own advice and not only sold any shares you held at 60p (someone did) but were also short, because you were, oh so, confident that you were right. I think some of JOG's oil might be hidden under a rather large rock. In an ideal world, if you could just creep back under it that would suit most of us on here.
The probability for the contingent resources to become economically recoverable is significantly lower than for proven, probable or possible reserves. contingent resources should be considered as speculative.
I know the exploration upside is huge there with Isobel looking likely to dwarf sea lion, but that’s an if, even getting sea lion off the ground is solely dependent on UKEF now imo.
Just looking at rockhopper in the Falklands,90M mcap with 80M barrels in a completely untouched and remote area. Jog 50M mcap with 120m barrels in a already proven hub sourounded by infrastructure. If Equinor take up the option and jog can negotiate a free carry some how, this has to be treble today’s sp in my opinion.
Got to admit I'm a little gutted with no news and before i get attacked lol.
Any news whether that be: Share holder update past June 28th. Verbier. Or Anything else.... Anything.
I know RNS's cost money, so yes it's in our best interest they do not roll out daily.... But ... JOG makes me feel like the fat kid holding my lollie but the wrapper is so tight i cannot reap the reward imside lol.
Please do not attack DU, it's all in jest. Have a good weekend guy's more of the same next week hopefully.
My journey here mirrors yours. Thousands down post Trap and now in decent profit. You're right. It's the people running the show that make the difference. Should be plenty of mileage left as long as the oil price holds up.
PS......have a look at Dana Petroleum (PMG's Tom Cross's first venture) and how it panned out (in Nov 2010). Dana was producing, had a lot more reserves and the oil price was in the $80s, but there are some similarities.............. https://www.telegraph.co.uk/finance/financetopics/profiles/8113069/Dana-Petroleum-chief-Tom-Cross-reflects-on-the-deal-of-the-decade.html “It (the phone call) was from a disabled pensioner in Ireland who was calling to say thank you,” he recalls. “She said: 'Dana has transformed my life’. She invested £400 in 1995 and was getting a cheque for £720,000. She was able to move to a new bungalow with wheelchair access and to go to Australia to see her grandchild for the first time".
I try to imagine what JOG might look like in 2 or 3 years if things go its way .............
Inspirational (and sensible) people of a certain age and those with individual circumstances to consider can sometimes be tempted if the price is right.
Carpe diem - one spends a long time dead.............and the last thing anyone says on their death-bed is: "I wish I'd worked longer"
PC01 - sorry to take a while to respond to your post of 09.06hrs Weds.
I didn't try to put numbers to the theory - all I concluded, after working on a few possibilities since JOG's situation changed so fundamentally on being awarded the new licences (subject to legal completion) - is that 18% of a lot would 'a lot' - £30+ ?? The reason I concluded there must be at least a possibility of CIECO becoming involved is that developing the 5 contiguous licences in the GBA would be much more straightforward were the same partners to share them in the same ratios across what would effectively become one overall project.
Arden's long and detailed research note sets out a number of options that are clearly now open for JOG to consider. https://uploadfiles.io/k1e9wtbs Which options they might go for is guesswork. I'm not on the inside so I don't know who's said what to whom and therefore if what I suggested is even a possibility. I'm happy to go along with Arden's comprehensive note and wait to see what emerges. Investing in (what has become) a junior explorer in the oil industry is normally fraught with risk. As I read the situation, whilst risk can never be eliminated altogether, it seemingly has been in JOG, given the discovered reserves it is now in control of and the value an unresearched market.puts on these at present.
From an overall viewpoint, it is difficult for me to see JOG, under its present management, wanting to go "all the way" with this project. JOG's founding directors took an almighty risk when they identified Trapoil as a "reverse" candidate because of its listing and tax losses. I had a sizable holding in TRAP that was worth 5% of what I'd paid for it when JOG arrived on the scene. I quickly formed views by talking to the people and bought shares in the initial placing (and on multiple occasions down to 8.79p in Feb 2016 and more still on the way back up). My further investment ('good money after bad' some people thought) was in JOG's people, not in its situation or even necessarily its prospects. Experience had already taught me that good people rarely fail in life. But what AB & RL (and others) in JOG's have achieved in just 4 years, from practically a cold start and no money, is truly remarkable. I can't begin to tell you how it feels to have been right for once (so far at least) after a couple of then recent experiences had destroyed my confidence in the integrity of the UK stock markets and the people working in them.