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......."NOT to let myself invest in companies it turned out were/are run by greedy, incompetent and (imv) fundamentally dishonest directors"..............
Keep the faith.................price is short term - driven by short term sentiment/supply & demand. Fundamentals always win in the end.............
silverknight - everyone's circumstances: age, experience investment criteria, attitude to risk etc, are different. It would be a dull life if we were all the same.
I wouldn't expect others to have only two shares in their investment "portfolio". But at my age and given my circumstances I'm not really interested in small gains. With a balanced portfolio comes modest overall potential gain. Whatever happens, I doubt I'll ever have to rely on a food bank so. I've never done things in half measures and I'm not about to change.
Experience has taught me many things and I'm still learning new things every day. Re investing, it took me a long time (mainly due to the steadily increasing level of greed, dishonesty and frequent incompetence of directors of listed companies) to realise that the way to boost your chance of making material gains (preferably 7 figure ones) is to pick companies that have the potential to multiple their SP times over and to do as much as you can to confirm the people running the show are not only highly competent at what they do, but their level of personal integrity, determination to add shareholder value and - as important as anything - their own financial commitment to the companies they run is plainly evident. 10/10 for JOG. Greed sends me running for the exit (N/A). It took investments in IQE and Xcite Energy (I took a real bath in the latter) to let myself invest in companies it turned out were/are run by greedy, incompetent and (imv) fundamentally dishonest directors.
It wouldn't be right for me to say how I have satisfied myself (100% in JOG's case) that the two companies I hold shares in are in sound hands and meet my investment critieria. Rightly or wrongly, I see JOG's share price as being underpinned several times over, regardless of whether it is able to raise the funds to take its valuable assets further, which .the doomsters tell us it won't be. I disagree but it's only my opinion.
It doesn't make any sense for 142MMstb of top quality oil - the majority already flowed - plus another 200MMstb of prospective resources (where they are situate) not to be of interest oilcos looking to add to reserves. Even if there were no such interest, JOG would still own the resources. What would E&P Oilcos pay for this volume of (mostly already discovered) oil in a prime part of the UK North Sea? An insanely low $1 per barrel (ignoring prospects) would fetch $142m (c.£109m). There are 21.8m shares in issue. For those who can't work it out, this would make £5 per share. Or are people trying to say that E&Ps would prefer to spend a fortune assessing the chances of finding commercial oil in other licences, take years getting to the point of an exploration well being planned, then spend another $25m+ on the drill, with the chance of commercial success about 1 in 20 overall?
.. "be greedy when others are fearful ..." etc
They're all working flat out in JOG..............
dyor
'Potentially a global recession could severely dampen the price of oil along with negative sentiment towards fossil fuels.'
On the other hand, oil share prices NOW are at rock-bottom and don't reflect prospects, but rather sentiment or trading.
We've had bull markets in oil and oil shares before; if the next ones coincide with real progress towards developing JOG's assets, then the SP could soar.
I have read your comprehensive and well researched posts with interest. I certainly agree with your view that quality management is key to backing any company's shares but I would be disinclined to have all my funds in two oil companies. Potentially a global recession could severely dampen the price of oil along with negative sentiment towards fossil fuels. I suspect that a bid of £2-50 to £3 from a medium sized oil company would be hard to resist and a recovery to the old Trap issue price of £43 will never happen. I'm also a long term holder but I do fear that this could retrace into double figures soon. Hopefully I'm wrong.