The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Crikey, PIRANHA - if it gets to £250 I'll be in the Times Rich List.
I'm off to Savile Row next week - yellow silk ties in abundance (I was very disappointed our leader wasn't wearing one at last week's CMD - he made up for it in Malcy's later interview though). I won't forget the trousers (perhaps Chester Barrie zipped at the front, not the back?) and I might treat myself to a new blazer - DAKS I thought. Suggestions welcome.
No more eBay for me. Ha.
:-)
........"if" being the operative word. One of these days there might be an announcement and the price will just keep going until something more like fair value is achieved. 180p might then just become a distant memory. Here's hoping!
Examples?
1. Announcement of a deal to acquire a working interest (WI) in a producing field generating significant cash. SQZ (Serica) showed last year what can be done by pulling off the BKR deal (BP were sellers). SQZ's market cap has risen from about £7m to c.£350m inside 4 years and the SP has gone up 5x since the BKR deal was announced. It's now generating free cash approaching $100m pa - and imv could soon announce another deal. I still make it fundamentally undervalued although much depends on the US OFAC's annual renewal of SQZ's exemption from Trump's new sanctions against Iran (the Iranian National Oil Co owns a 50% WI in the Rhum Field which provides c. 5% of Britain's annual gas consumption).
Given that more than one of the big O&G cos is exiting the UKCS - particularly where their interests are in later life fields (their overhead set-ups make it uneconomic to extract increasingly lower flow-rate oil or gas). More deals of the BKR type could well become available. This isn't a plug for SQZ btw - it's relevant to JOG, which is also a low G&A cost operation. SQZ has also significantly increased production in BK&R by focusing on maximising output in the B,K&R fields it is now operating. It is extracting significantly more gas than BP managed to do when it was operator. It's what it's good at and is its 'raison d'etre'. The big players aren't either keen or well equipped (even if they were inclined to do so) to "fiddle around" in small volumes when there are bigger prizes available around the globe. In their eyes it is inefficient use of its substantial resources. SQZ has its extraction costs per boe down to $14 and at this level it is very profitable and cash generative. Volumes are big to SQZ, which is a much smaller entity (than BP).
So I haven't ruled out JOG finally doing what it has repeatedly said it is aiming to since the outset - strive to acquire assets with the right profile if the right deal can be done. RBL might be the right way to provide the funds.
2. JOG hasn't so far provided much detail about the new seismics and enhanced imaging. Rockflow and Petrofac are new members of the team. When the time is right and the data has been fully digested, there might be announcements of new leads and prospects that add to JOG's already well-stocked cupboard.
3 JOG might at any time come onto an international player's radar as a potential acquisition at a value that leaves a lot for the acquiror. What the market thinks JOG is worth at the time won't matter.
Risk can never be eliminated when owning O&G juniors . Many of the risks are 'macro' in nature and are outside any one co's control. There are also others.
I'm bullish because of the facts and JOG's great team.
dyor
I think we are already there!
Seems to be trying to get back to £240/£250... but seems to get stuck before we break the £3s
The rise is probably down to the Investors Chronicle article.
I don't suspect there are any leaks whatsoever as i feel we are some way off any news coming out although i could be wrong.
I have no idea if brexit will help or not but we have made further progress with Boris and the EU today agreeing on a deal.
Now we await the Irish and them set of clowns in parliament to agree.
LOL
On the flip side there is a big seller. Well if there is there are many more buyers 30p rise on no news indicates there has been a leak, it cannot be brexit, maybe it has something to do with those 100m barrels.
Someone is loading up...follow the money as they say!
It's ano brainer to see JOG was way oversold and at these prices there is always the posilbilty a big buyer would start to snap them up, which is what I think is happening here. Early rise tomorrow me thinks!
On the flip side there's a v large seller out there as well - 5 sells in excess 100k shares.
Last three minutes, three buys total £45k
1.97 to 2.00 spread on my account at the moment
Very good point PC01
You couldn't make it up so let's hope we go further as i want my last top up price reached.
GL
it doesn't half pi55 me off...we talk at length about JOG and the good news re equinor...and down it goes. Out comes the guru Simon Thompson and bang, hey presto...you heard the news..there's this great little oil company...
Sigh!
Still if that is what it takes then I guess it works!
OK, got my timing wrong, £2 this week!
Certainly lots of chunky purchases going on. I would not bet against you being correct.
I don't understand why people are selling, this will be back to £2 by next week, with further jumps on partner news.