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Not at all - I'm with alsoppc, the headlines from the energy security day will be leaked on Wed evening/Thurs morning as they normally are. So I do think Ithaca's results were probably delayed by 24 hours to coincide with the government's announcements around energy security. That said it could of course be immaterial to JOG.....but we live in hope (or at least most of us do).
Varnish
So the news released before the meeting...... Bollacks
Good detective work Varnish!
Time will tell..
IMHO
Be careful, I don't want anyone taking my JB award for being the 'most delusional' from me, I'm quite proud of that and only held it for 24 hours so far, the more my options diverge from JB the more hopeful I am I'm right ??
As it's so quiet, let me pass on what might be a useless bit of information. The Times in it's 'Week Ahead' item has Ithaca Energy's results announcement as Wed 29 Mar. I mention this because that was the date I had too & so they have recently changed it to Thurs 30 Mar.
It does perhaps suggest the release date was changed to coincide with energy security day (or fossil fuel day if you prefer). That may of course have nothing to do with JOG - hopefully it will.
I'm sure JB will love this!
SNP party have just elected Humza Yousaf as their new leader . I hope he is supportive of the UKCNS .
Yes JB motives are very dubious and devoid of any facts
...........might there be more than one farminee?
Could JOG also be announcing the acquisition of a producing interest to provide cash flow?
Am I being over-optimistic? :-))
Whoever is interested in farming in to the GBA fields will be after the "super-investment relief" as a means of avoiding tax at 75%. As I interpret Sunakhunt's climb down, it's about the introduction of an oil/gas price 'floor', below which the 35% EPL charge will not apply. If I'm interpreting the situation correctly, there are no proposals to meddle with the investment relief.
News could therefore drop on any day this week - can't really see why there would be a delay once the terms have been agreed.
We know news must be close because JohnnyB is getting increasingly desperate. JOG appears to be interfering with his weekends and is definitiely keeping him awake, looking at the times of his recent posts. I have no doubt he'll be the first to congratulate well-researched and patient investors for their good fortune when the loaded catapult is unleashed....
jmofwiw
dyor
Agreed alsoppc. I can’t see Ithaca (if it’s even them) wanting to miss the opportunity to announce with their results in Thursday morning .. and then having a further update a few days later with the news .. they don’t need to reference the new government deal.. simply that they are maintaining their commitment to British Waters and farming in .. or taking out and then the government update later that day.. and it all looks ideal
The NSTA knew something in late November to extend the licence.. the Nomad waved the update from Jog through.. and JOG at only a week away from the end of Q1 still haven’t flagged they expect to be outside the timeline ..
There has to be a plan .. IMHO
Dyor
It looks like they have been offered the option to enable offshore wind energy to directly supply offshore oil and gas platforms in the Buchan area (if I'm reading the various bits of paper correctly).
https://www.crownestatescotland.com/news/intog-13-projects-selected-to-support-green-innovation-and-help-decarbonise-north-sea
Options to be offered in 2024, but they seem to have some sort of exclusivity.
Will probably feature in JOG's future (if we still exist), so may be of little significance in our current 2 week window.
Did see that Cerulean have previously partnered with PING petroleum UK, who are also operational in the Central North Sea with an Aberdeen office.
They seem to be looking to extend their 2P reserves to 100 million boe
http://www.pingpetroleum.com/assets_anasuria.php.
Their assets include 3 fields - one a 50 % interest with Hibiscus Petroleum; one non operated to the South East of Buchan; one non producing field which has Ithaca as the operator.
Ping is a 90 per cent-owned subsidiary of Dagang NeXchange Berhad (“DNeX”), a public listed company in Malaysia with pioneering expertise in eServices for Trade Facilitation, System Integration and Consultancy, Technology and Telecommunications. DNeX is also currently making its mark as a reputable player in the oil and gas, and energy sector.
Just another name to throw in the ring.
you win, alsopcc... utterly delusional LOL
There's a possibility Hunt could put a piece in the Telegraph Wednesday night with the detail and use the the energy security day to sell it to the wider press and use an Ithaca/JOG deal as a case study example, these things a rarely a surprise when it comes to someone standing up talking about it and that way the timelines should align nicely
Reading these posts is comedy gold...people just making up nonsense and grasping at straws.
Reality will bite very soon.
Whilst I am confident that the government have consulted with stakeholders, I suspect Sunak/Hunt will not be impressed if an announcement is made on Thursday morning prior to Energy Day using what could be described as inside info. Happy to be proved wrong.
Rollo - Given JOG haven’t announced anything so far - and therefore logic says they have a deal (ahead of the outcome of energy day!) I think they may be announcing on Thursday morning with the Ithaca update . I know it’s before the actual start of the energy day (the same day) as you pointed out but if Ithaca committed anyway (then they will want to include it in their update) . You would think energy day is only going to make current terms better.. assuming of course it is Ithaca !?! The government will have consulted stakeholders on this one (after the last disaster) so I imagine the industry know what’s coming ..
Let’s see
Dyor
For those of you without access to the FT article, the attached link may be helpful:
https://www.bbc.co.uk/news/business-65077495
Personally, I wouldn't be surprised if we see no RNS this coming week. Positive news on Thursday could leave JOG in the position that details could be finalised within days and attempting to issue some form of update on Friday may create short term confusion and would be pointless when the "real thing" could be announced as quickly as early the following week. Whilst the JOG board may receive some wrath at this approach, they may take the view the measured risk outweighs this.
A welcome article, it appears the government has seen sense:
'There is speculation in the industry that Sunak could launch the package in #aberdeen, the capital of the UK oil industry, although his allies insisted it had not been decided where the event will take place'.
I semi suspect we only had two viable dragons during the last RNS announcement.
Dragon #1, Deal by December but large %
Dragon #2, Deal late Q1 with lower %
We know how dragon's work, so we could still end up with #1 because #2 might change their demands. Regardless, hopefully we have announced deal next week.
Let's hope Ed Miliband is right (it's got to happen sometime) and the 30th is Fossil Fuel Thursday! What with Ithaca announcing results the same day it could be hugely significant for JOG (and of course all of us).
I'd personally class option 3 in the same bracket as option 2 on that list, only thing that could salvage option 3 would be the delay is due to an ongoing bidding war between multiple parties
So this week we will see either of :
1) A positive announcement
2) A negative announcement
3) A we'll get back to you later announcement
The longer this goes on the more I expect Option 3
Briggs shut up you’re talking absolute rubbish . Clear off and spout your crap elsewhere . No one believes a word you’re posting !
Just ridiculous the nonsense milestones and rationale behind bandied around here. CEO said end of December or in not Q1 and hasn’t uttered a word since. 99.9% of the “announcements” or “developments” were t even known about when he made that statement so are just utter fantasy or indeed a justification by AIM gamblers as to why there has been no comms and it’s more likely than not that the Q1 “certainly” is yet more can kicking.
Remember these words.. silence is never golden on AIM.
Fingers crossed for all the long term holders that Andrew and the crew pull it off and we have a very happy Easter
Known Oil is there and still have potential of Verbier , incentive to invest for energy security . I am feeling very positive on the outcome of this stock