Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. 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.
DU, please get that out again, dust it off, do whatever it is you do with it and get a positive result for Everton at Chelsea on Saturday evening. You will become GOD to 39000 Evertonians, and I will Jog all over the house.
My guess is shell or harbour, can't think why else Jersey Oil really need an Aberdeen office. Ithica seems too obvious given the new bod members. If the sp reaches 5xxp that will be more than enough for me.
It’s Rex Tillerson’s birthday (and the anniversary of the Exxon Valdez grounding) on 23 rd March, maybe Exxon is the farminee?
GKP have an investors presentation on the 23rd , might be a very good day . GLA
I might add that F/O currently has a couple of meanings in our household.
Re: "DU's 23 March has a 1 in 11 chance of success"................it's difficult to fault your logic, MPO, but you've forgotten to factor in my crystal ball, which allows me an occasional glimpse into the future. It sometimes predicts things that seem entirely unrealistic, but nonetheless go on to become true. As an example, it predicted recently that Everton would win a Premiership match before the end of March. Lo and behold, the very next week they only went on to beat the mighty Brentford 1-0 at Goodison Park. How weird is that?
Mt crystal ball is predicting a good result from Andrew (Rafa) Benitz within the same sort of time-frame.
dyor - I'm sticking with 23 March
I had to chuckle as Mrs C made the same comments as Mrs MPO did and in an admonishing voice. In fact she's voiced similar opinions on many of my other investments. C'est la vie.
Nonetheless I'm still optimistic here and counting down the days!!
Normally when things get left right to the end then it’s not a good sign . Mr B has paid himself and his team almost £300k salaries and had the pleasure of several fund raises . I hope we haven’t been taken for a ride .
that there will be no news today, DU's 23 March has a 1 in 11 chance of success if AB's Q1 certainty is met. My price expectations are diminishing by the day and Mrs MPO thinks I'm a greedy sod for not selling at 350p.
I'm firmly with you on that Dick, with all the money being poured into Cheltenham this week you'd think at least a few would see this if not an investment then a fair bet worth a punt, in a couple of weeks time my bet is this will have a share price starting with a '5', whether that's £5.XX or 50p I'm far less certain
I'm surprised FOMO hasn't kicked in here.
There'll either be (i) riotous laughter from those who have jumped ship recently, or have failed to take seriously what JOG's CEO said in the 29 Nov 2022.............. and therefore haven't bought into the JOG story - or (ii) much weeping and gnashing of teeth if the SP surges on news of a done deal that will finally deliver the value much talked of, but not so far seen by shareholders, who have largely put up the capital to get JOG to today's MC of £59m (valuing Buchan, J2 and Verbier at less than 50 cents a barrel and everything else at nothing). Why are oilcos doing any exploration - might as well pack up and go home.
I'm forecasting next Thursday - 23 March.
There are alternative scenarios. Don't take any notice of what I've got to say - form your own views.
JMOfwiw
DYOR
Hope you're right Einbert.
11 business days left to meet Andrew and the Company's stated timeline.
Update will be required one way or another.
Can't imagine this running right to the end of March - if it does, the RNS won't make great reading, in my opinion.
It's either a deal, no deal, or an excuse.
Hopefully the former at some nice numbers; please not the middle one; if it's the last option, a "talks ongoing" won't cut it, I'm afraid.
More detail will be required as to, for instance, the number of parties involved and the proposed shape of any deal(s). No Company names need be identified, but anything other than a a pretty fulsome explanation of what is going on and what JOG's expectations are will be required for a very patient (thus far) shareholder base and for wider market confidence.
Remember the farm out was launched over 2 years ago (early March 2021).
Technical due diligence was apparently completed in October 2022.
Leaves 5 months to talk numbers.
A deal was certainly going to be completed by end of first quarter 2023.
Looks like plenty of time has been allowed and passed.
We are all aware of the shenanigans from Westminster, which won't have helped, but, in the field life of 30 years, Government will interfere probably on a yearly basis with their tax raids and other genius initiatives, so trying to factor that in to "a deal" with any great certainty, is, well....good luck attempting it.
Just get the deal done.
MP0818 my shares are purchased via a company and not in my personal name .
James, if your "gut feeling" is correct how will you navigate your CGT liability post 6th April you can't possibly have your 938k shares in an isa.
Spell checker got me orses and changed them to roses. Now, wot an orse produces is good for roses. If your roses, in a vase, start to wilt, you may be able to revive them with an aspirin tablet.
While what was said in the November remains true, we have certainty of a deal in Q1.
They would not have been able to release said RNS if they were full of ‘rose fertilizer’.
Greener my gut feeling tells me that there is a take out offer of around £4 a share . It’s not something the management want but it’s the best they are going to get . I hope I’m wrong .
I don't think any of these recent events are delaying things. Possibly the budget would be an odd week to announce, but everyone I know in the industry is a long term oil price bull, and I shouldn't think FO partners are different? Brent up or down over this year has little influence.
This delay must be something deal-related. The Ithaca guys were brought on to facilitate something, who knows what, and they're trying to get it over the line. Perhaps Benitz's RNSs were to impose a deadline on the process itself - it can't drag on and on as Surety pointed out.
We will see a deal before end March in my view. The question will be how good it is.
I wonder if the SP will wilt over the next ten days. Who would have the nuts to sell now? Aren't the cynics out already? But who knows SP action is unfathomable to me. Could do with a 'leak' haha
Einbert - in your view, how long should I expect to be holding my roses ? I'm a bit worried they might wilt if it's the very end of the month.............
Einbert, yes end of Q1 just two weeks away. Of course, the end of 2022 is now almost 3 months past!
I'm sure Einstein is correct and that many holders will be pleasantly surprised within a matter of days!!
I guess the deal would have been better had it not been for the American bank problems a followed by the problems at Credit Swiss and a lower oil price. Lucky Antonio in having to leave CS!
Financial difficulties affect all markets but I'm sure JOG will overcome them.
If we wake up this month to a deal and a vastly improved share price, I will absolutely apologize for doubting bungling Benitz. It won't mitigate how poorly they have communicated with the market/shareholders, but so be it. At least I will know to look out for any future Benitz projects, as I suspect they will hold the opportunity for producing great riches... By shorting whatever project he is next involved with. I contacted him twice to talk generally about Jersey Oil, and the second time he seemed more interested in trying to get me to rent his villa in Spain than he was in discussing the company. What a pr4t.
I would love to share your optimism Einstein.
‘old yer ‘roses BM. End of Q1 is still a couple of weeks away.
I remain hopeful/optimistic and can imagine reasons why the well-led board and excellent management are taking the deal to the RNS advised deadline.
I hope that all of the gainsayers will publicly apologise once the deal is done and JOG is significantly re-rated.
I do wonder if they have always had a backup in their pocket of a buyout…hence the narrative all went through the regulator and the NSTA approved the extensions .. ..
DYOR
With Brent down at $73 can't see a floor being introduced for political reasons until the autumn budget at the earliest now, they just need to get the best deal they can signed with no more arbitrary future dates, they'll always be something or other to wait for but they can't keep dragging their feet forever, you'd have to imagine the NSTA will eventually lose patience and reallocate the licences eventually as well