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You may have paid a higher than current price ajax but I believe it will be deemed a bargain in 18 to 24 months time.
Long and strong, although sometimes frustrating.
Thanks Dick.....Appreciate your post and I'm a believer in this BOD also that they will succeed in time where they want to be.
Any news on new partners or any type of acquisition will certainly booster the SP.
Unfortunately i gambled paying a higher price on news Equinor would take up the option ?.....however it's only a short term loss in my view.
GL
Ajax
Completely agree with you about value.
Most people on LSE AIM are interested mainly in shares, not companies.
.........ajax - form is temporary, class is permanent..........
The timescales have now been laid out for shareholders. 2 years to FDP. To submit a FDP requires whoever is submitting it to demonstrate beyond reasonable doubt that the funding is there to take the project all the way through to decommissioning at the back end. Ergo, well before FDP submission date JOG must anticipate having a partner on board to provide the lion's share of the development funding.
I still don't rule out JOG making an acquisition of an income producing producing interest to help fund its ambitious plans.
I also don't see any particular reason to conclude Equinor has lost (or might lose) interest in Licence P2170, aka Verbier. Maybe there won't be any drilling activity on the licence until 2021, but so what? In oil & gas timescales the new seismic data has only been in the P2170 licence partners' hands for 5 minutes. There must be an enormous amount of detailed work to be done to interpret new data on existing discoveries, prospects and leads - also on assessing new leads brought to light by the enhanced imaging. Both JOG & Equinor have plenty to get on with -without losing momentum - before deciding when and where the next drilling activity should be undertaken.
It is inconceivable to think the 100m+ boe owned by JOG in Buchan & J2 will do anything other than attract strong interest from oilcos of different sizes and natures. JOG will be determined to get any partnering arrangements right and not undersell such a valuable asset by opening a data room before it and its advisers have a full understanding of the whole of the whole of the GBA.
It might take 12-18 months for the market finally to 'get' what JOG is all about - but get there it will. Thereafter, when people start trying to buy into what I still firmly believe will be a story of great success for JOG and its patient longer term holders, they might not be able to persuade existing holders to part with shares they have always known the value of and have had the good sense to hold onto when others have lost their nerve, or have seen what they believe are better opportunities elsewhere. Good luck to them.
The above are only my personal views (aspirations?) and should not be taken in any other way. The way I look at the situation is: "it isn't rocket science".
"The stock market is a device for transferring money from the impatient to the patient." - Warren Buffett.
dyor
Well, JD_23, you may have paid more than I did, but I'm still holding my original shares bought all the way from 215 down to 170.
Some people, smarter than I, would have sold some of them at 240 - which I believe is known as top-slicing.
I have no idea when the price will reach 500p.
It could be next year or several years, as you say.
I believe the shares still offer exceptional value, but I never make predictions about which year - let alone which day - the price is going to hit a certain level.
Good post long wait. I sold out as soon as news broke that equinor did not take up the option. That what i and I'm sure many others were waiting on.
It's going to be a long haul from here of time, effort and money to remotely having a chance of hitting 500p any time in the future, years I would guess.
60p per/share down on my last top up
Talk about bad timing ......Jesus
I agree that AIM is 'mental.'
That is why, when dozens of excited posters were predicting '300p tomorrow,' and were salivating at the thought of imminent multiples of that, I warned that something like this might happen.
I have been investing in AIM oil shares for more than five years and this is what I've been seeing for five years.
I last bought JOG shares at 68.5p and was seriously thinking of buying more at 57p, but hesitated.
THAT is the time to buy such shares.
So oversold and dropping on nothing.... Bargain price again
mcap of 38 mil with a billion quids worth of reserves. beggars belief.