Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Thanks to you and Dick.
Good afternoon Dick. Yes sorry I haven't posted recently which doesn't mean I haven't followed this board, but as we all know during crisis times and hype times a lot of people posting with not too much substance and as there weren't any relevant news or updates I followed quietly.
Nice to see the slight upswing in share price although its only an adjustment to the beating we received following the drop in oil price as well as Covid19. Nothing changed in my holding as I still believe in the company and management. I believe things will stabilize further with a couple of setbacks as usual alomg the way focusing on our 'normal' GBP2 per share price until we hopefully get news of a farm out or interest of an oil major in buying us out altogether. With the financials pretty much what we expected lasting 'at least til end of 2021' we got plenty of time to focus on the ongoing work commitments and then towards end of 2020 the farm out process. The cooperation with other oil companies in our area is particular exciting in my view as it would help making any developments more cost effective and efficient and the OGA was very happy to hear about it too.
With oil prices expected to recover somewhat by end of 2020 I believe this will be a good time to start this project as we need oil above 50 dollars a barrel, better towards 60.
In regards to the renumeration- I was contemplating for a bit if or if not not to comment. While I agree that a payrise of over 50% is a bit too extreme, and I would have rather gone down the road of doing 15% a year over a 3 year period or similar, their salaries are still at the lower end of their piers or mid range at best. So I reckon it was an adjustment to what is more normal in the industry and GBP250.000 isn't that much really but you are right Dick, the timing could have been better. but I think when the renumeration committee decided they did not expect what was coming at the time when they made that decision.
I think we got a pretty good outlook for the rest of the year - onwards and upwards!
Sorry ignore that last post i uploaded it by mistake
My apoligies
Your posts got taken down, as did my responses earlier today. Fwiw my responses still appear on my 'profile' page along with the rest (click my name). Here's what I wrote at 07.18hrs today:
" S36 - many views have been expressed about JOG by many different posters over a long period. I have made any number of posts going back years - and before that on another forum (interactive inv) going back to Trap Oil days. There is no substitute for doing one's one research and forming one's own views and you should never invest just on the basis of what you read about a potential investment on a forum like this. This is not to say that what you read shouldn't influence your thought patterns. From a personal perspective (I have a strong background in finance) I find the views expressed by those who have worked in the industry particularly valuable. Bullson's posts are interesting in this regard, although he tends to post infrequently - I can't immediately think of others. Longwait, PC01 (there others) always make well-informed and well-argued posts. You might consider scanning the last (say) 3 months' posts - you should be able to build your knowledge of what JOG is about and why so many on here see it as a likely winner.
Imv JOG is an exciting prospect. The reasons for me holding this view have been clearly set out in the many posts I have made to date. These are all available for anyone to read (or not, as they may choose). One of the reasons (entirely non-technical) is the SP gearing brought about by low number of shares in issue and the fact these are relatively tightly held. Many on here experienced a 10x increase in JOG's SP in a single day in October 2017, when the sidetrack at Verbier came up trumps. JOG has moved a long way on since then, yet its market value has declined significantly. I don't think it is a very well understood company. Time will tell if it does go on to scale the heights and make a few people here a lot richer than they are at present.
GL, whatever you decide.
Parge - I'd prefer not to say any more than I already have on the subject of directors' remuneration. If JOG signs up with a farm-in partner on decent terms within the timescale they envisage, their remuneration won't matter. I'd have done things differently (bonus terms and soft options) and I've made my views known to the Company. As ever, I received a civil and considered response but my views haven't changed. I reckon at least one shareholder will abstain on Resolutions 1 & 2 at JOG's AGM next week, although I expect he'll be voting in favour of Resolutions 3-6.
dyor