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From my point of view the picture has changed dramatically since the RNS of late November. At that time the share price was around 225p and it rose to the 250/270 range quickly. So my view was perhaps double + a bit might be achieved. Christmas came and went without news (as pointed out by DU) and the "certainly in Q1" rightly or wrongly was interpreted by me as meaning January as that comment implied very little remained for a deal to be completed. With no news in February the share price has drifted downward to now be below 160p. So my view now is that we may be lucky to regain the high of 2022 - circa 350ish management may claim that is delivering for shareholders, whilst in reality many (if not all) may consider they have been shafted.
Any partner will be insiders so can’t deal
Conspiratorial? No, astute and healthily cynical. Well said. Hold tight.
... .. I do like the budget thinking though.
.......if I was part of the dealmaking discussions - but someone without any shares to date - then I might be tempted to "keep talking" until such time as I could pick some up at a reasonable price.....which we must be pretty close to now. Too conspiratorial?
I’m sorry if I’ve upset people with my language . It’s very difficult to remain calm under the circumstances .
For once we agree, Dick. Jog needs a serious reduction in headcount, especially at the top, with a skeleton staff retained to maintain regulatory requirements, and put the co into FSP. I still maintain Benitz is not a very good CEO, although know you have not agreed withe on this in previous postings. And I certainly do not trust the guy. If April Fool's Day arrives with no deal, he will struggle to get any subsequent enterprise off the ground, in my view, since he will have no remaining credibility.
James - it does you no credit to resort to the use of personal insults. Everyone's feeling the pressure, brought about by the CEO leading us to believe there was a good chance a deal would be struck before the year end, but if not, then certainly in Q1. Whilst Q1 doesn't end for another 30 days, the impression most of us will have gained was that if the positive outcome spoken of didn't happen before the year end, it would surely only be delayed until early in the new year (say, halfway through January).
Now here we are in March and there's been silence ever since 29/11. It's called management of expectations and JAB's overconfidence (or whatever it was that caused him to say what he did, when he did) has badly spooked holders and knocked the share price back so far that it will take an exceptionally good deal even to get the SP back to where it was last October. 0/10 as far as I'm concerned.
It's probably time someone had a serious look at what's going on in JOG and why it needs a board and senior management team so packed with highly paid individuals moving forward (some incentivised by generous options amounting in total to more than the usual 10% of share cap in aggregate).
If no deal is reached by the end of Q1, one would have to ask if one is going to be achieved at all. They've been looking for partners for 3 years+. I won't say any more at this stage in the hope there's a decent outcome in the next 2 weeks. Thereafter, things could move quickly.
dyor
Here’s the long term view of oil outlined by the manager of Blue Whale fund to cheer you up! I favoured Trinity oil which too is suffering. I expect both share prices will move up again just as fast as they dropped!
“ But the energy sector itself is now far more appealing. The biggest driver of its renewed appeal for investors are the indicators of supply challenges from the three largest oil producers – the US, Saudi Arabia and Russia.
In the US, the shale revolution in early 2010 was one of the most significant breakthroughs in the 100-year history of the oil industry. We believe it is unlikely to be repeated, whilst economics and growth profiles are deteriorating as high decline rates, cost inflation, and depletion of the best wells all begin to bite.
In Saudi Arabia and indeed OPEC as a whole, we believe the record of consistently missing production quotas demonstrates their “spare capacity” is close to being exhausted. Coupled with worsening US relations, this is likely to bias OPEC towards limited supply growth.
Clearly, for Russia, geopolitics are worsening. The withdrawal of Western technology and oil field services firms from Russia will weigh heavy on supply, whilst Western nations taking a stance against the war in Ukraine is leaving the Russian oil industry painfully lacking investment.
Finally, a general lack of investment globally with total industry capex slashed by around 50% over the last 8-10 years has put pressure on the sector. Another telling stat is that enrolment numbers in petroleum engineering courses in the US are also down approximately 50% over the same period.
Whilst we do not attempt to forecast the oil price, all the above leads us to believe the price is well supported at these higher levels.”
Thank you for your kind words MP0818. It is hard seeing your wealth erode in front of your eyes . I’m in it till the end , whichever way it goes . Onwards and upwards .
James, this is not good, we have been told the time frame, one would expect a further update if there was any change. DU may have been correct in suggesting the news may come post the budget later this month, the declining share price is just hard to stomach as the trend continues.
It’s falling again .
Trendz, yes but sp only 6p down on full 12 months. Not saying thats a brilliant result but too many posters are panicking - clearly short-termers who are over invested. This will hopefully come good in time as the asset is quality and the demand is growing.
AIMHO GLA LT Joglers
37% down in 2023 - stinker.
The RSI (sentiment) is weakest since summer 2021.
Why did Benitz make that statement re farmout 3/4 months ago - seems odd. No selling from any material shareholders (that we know of…) is a small solace
Depressing watching this Shyte fall every day . I’ve lost my Rag with the top team . I’ve given them praise in the past but this silence is pushing it . I remember last time we had silence whilst waiting for the verbier result the same thing happened .
This is shyte
FrazerJohn - Good work and thanks for sharing, it provides a little light in the dark days as this continues to drift south.
Aye, but then again, you're a tit.
Fraser I admire your bullish and confidence . I hope for everyone’s sake you are right as this waiting has worn me out .
Surety
Straight copy and paste with no editing.
I was quite pleased with the response.
We all now things can "certainly" change, but I think a "deal" is in place, with perhaps a possible better option, or variance of the "deal" being discussed.
I don't see the advisers or the NSTA folk being so bullish or forthcoming without one.
Is it subject to financial regulations ie possible Budget stupidity; perhaps Quarterly Main Board meetings (ie maybe the December meeting, but definitely the March meeting); or just the complexity of "multiple" parties (I think that was the wording) sitting round the table holding their cheques to see who releases first!
Who knows?
But I do feel a bit better about things today.
Just issue the RNS and hopefully release the cash!!
I hope it is a buy .
Brilliant James. One assumes that someone also bought the £98k sell !!!
Yes Surety it was also interesting to note that there was a £98k sell !
What was their recent fund raise was it for around £18m ? . Mr B and his Ithaca crew are in a very fortunate rewarding position . Every day that passes they are picking up decent pay for what ??. We are paying their salaries and what have we been provided in return ?