The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
That's a chunky deal for pre-production assets in UK NS... https://www.reuters.com/markets/deals/norways-equinor-nears-deal-buy-suncors-uk-oilfields-2023-03-01/
I tried to buy 25,000 shares today and the MM couldn’t fill the order . There is limited stock so should see the price heading North for a change .
Hopefully not speaking too soon but there doesn't appear much stock for sale - I need to go to Fill or Kill for every quote. Up 5%. Hopefully a blue day for once and then re-rate back above £2 before GBA news
https://www.energyvoice.com/oilandgas/north-sea/west-of-shetland/487051/viaro-production-assets-north-sea/
Still activity taking place.. alongside everyone screaming about the EPL to the government and calling for a floor.. all roads lead to the 15th and just beyond ?!?
DYOR
Perhaps it's just been Amati gradually selling down their stake?, they were previously listed as the second largest shareholder but went below the 3% sometime in December looking at the shareholder list on JOGs site, my guess is they've been selling down the residual <3% the last couple of months
Yep , it’s fallen in a straight line on nothing really,yes waiting for fo details but these big deals take time and we still on course for the parameters set by the board, tbh the reaction ytd is ridiculous , lots of value here
We'll see - have managed to bring my average down to 200.24p, with 10,017 shares. Blue day? Turning day? Fingers crossed. Brent is doing very well.
Just topped up , very oversold here this will bounce hard v soon
I had to go to Fill or Kill on HL to purchase two small batches (£750 and then £3750) but they will take all my shares above the quotes sell price... Hopefully short of shares and sentiment is about to turn... Pretty rock bottom RSI.
Briggs I think you may be right .
Agree with you 100% Batterymetals . Very cushy position, dangle the the carrot and entice gullible investors . The amount of times he’s bs about production . We may have been taken for a ride . Will know shortly .
Talking of equity raises, it is s fact that Benitz has raised about the same amount in finance as the current market cap! Perhaps therefore.his salary should be set at zero, representing exactly the amount the market ascribes to this shareholder value that he has brought to us.
Yeah not long now JS for yet another JOG rollercoaster big dip. They’ve spun a good marketing story and dangled the carrot well keeping everyone in the BOD well compensated. If not by the end of December then certainly within the 12 weeks after. Almost as good as the infamous Verbier “surprised and disappointed” RNS.
50 weeks Walter Mitty has been a member; 700 posts in 50 weeks (coming up for his first birthday.
The JOG BOD are directly responsible for us having to listen to this cabbage for so long by not striking a deal by now.
Our sanity is on you Andrew.
First ever post from the JOG Share Guru - 16/03/2022.
"I've been following Jersey Oil over the last year and recently took the brave decision of investing at £2.10 a share . This share reminds me of the practice of ' pump and dump ' as seen on Wolf on wall street. Can someone explain
1. Does Jersey have any income ?
2. To get to this stage the directors have fund raised approx £40m, against a mkt cap of £55m ?
3. On very attractive salaries with very little to show for it.
I'd hate to sound negative as I'm a shareholder but the thought smoke screen and mirrors comes to light"
Second ever post some 2 hours later (god help us)
"...promised my other half should it multi bag my 10,000 shares will help pay off part of our mortgage and pay for a nice break in Ibiza. I doubt I would get the same return in an instant savings account."
He apparently now owns several hundred thousand shares.
So, yes, Walter Mitty is one of many names suitable for you.
Most on this board know what you game is Walter, but perhaps some poor soul might check in one day and think you actually had any idea, credibility, honesty, integrity on the subject you post.
Spoiler for any newbies - he doesn't.
Has it been two years since Mr B diluted Jog and raised millions .I wonder what these guys been up to ? . Will know in the next few weeks .
I only posted the AIM rules in response to the nonsense spouted by Robsroom in the previous post. Of course there are rules to follow. In this connection I have commented many times on the professionalism of JOG's directors when it comes to running the company two of them (one since 'retired') founded in 2014.
I have an issue with communications - imv causing shareholders to expect a result much earlier than it's actually been delivered (assuming one is). Then again, we don't know how many obstacles have been thrown into their path since the RNS of 29 November and how difficult they have been to circumvent or move out of the way. If he had the chance to redraft the 29 November RNS, perhaps JAB would have expressed confidence only in securing a positive outcome by the end of Q1. his would very probably had a different effect on the SP, which loses ground daily as less confident holders bail out for fear of the price tanking in the event of the 31 March deadline being missed.
Everyone in JOG will have been doing their darndest for a long time to get a farm out agreed on terms that are the best possible for all shareholders. The directors and other personnel have a vested interest in the outcome themselves as most, if not all, have shares and/or options the value of which is directly linked to their efforts.
There'll be news before too long. Why not tomorrow? Probably because if it was tomorrow something would have leaked and the price wouldn't still be moving in the direction it is.
It doesn't strike me as being a good time to be losing one's nerve but wdik?
GL
Surety
Remember who you are discussing things with. This board's Walter Mitty.
If you remember his very first (o many nonsensical jibberings) he was chucking in £10,000.00 to a Company that he didn't know if it was producing any revenue.
He's now telling us to remember what was going on when the first Verbier result came in (which was way before Walter raised his head).
Lately, he/she has told us they have about 100 million shares in JOG purchasing every day, apparently, with a Board of Directors he/she doesn't trust.
As transparent as can be and as shallow as a grave.
A mischief maker at best, if I'm being polite, but actually much worse if I'm going to be honest.
Let Walter Mitty play with his/ her rattle and attention seek before they get put into their cot for the night.
James. Nice try from a provocation perspective, but I'm not taking the bait.
For clarity though - I know everything that's in the public domain (and I spend a serious amount of time reading that), and that's it I'm afraid! Sorry to disappoint ... The rest is a judgement call based on fundamentals and personal life experience. I know something about the importance of reputations though, and the difference credible management can make. The Ithaca crew tick these boxes in my head, and are the primary reason why I continued to build a larger stake over the last 12 months..
My investment is still not as grand as yours though.. ;-)
DYOR
Surety I sure have ruffled your feathers haven’t I ? Your tone leads me to believe that you know something which we don’t . Very defensive of LT and his crew . Defensive to the extent as if you know them ?
Why so much angst. As I said earlier today we are only a shade below where we were on 1/3/22. This has been a punt from day 1. Albeit backed by a substantial asset, in a friendly jurisdiction with an experienced team in control. That’s why we are here - substantial POTENTIAL capital gains.
Those bleating loudest might be the ones who bought in latest ie after the hard yards had already been run. Good luck if you bring off the quick return but please just STFU!
Those in from early days are doing quite nicely but that’s what this is all about, patience.
Panickers can of course leave the room and let us pick up their shares cheaply.
Oil is not about to go out of fashion but I wish whining would.
AIMHO GLA LTH JOGlers
*I suspect they have joined for the same reason we have all invested. Material capital upside in the shares!
James. I'm not going to comment on AB, but the former Ithaca guys including the relatively new chair in his first appointment as Chair (Les Thomas) have outstanding reputations, in reality amongst the best of any active directors in the North Sea. You can't seriously think they are in it for the salary! It's frustrating to even read this BS to be honest (I dont like the slide any more than you do, but cut the noise!) . It takes decades of blood, sweat and tears to build the reputations they have. They're not about to throw this away by ignoring the rules that govern the casino that we've all invested in (AIM). None of them are done yet, and it needs to go well for them to get the next gig. Les have convinced the others to come, not AB. It will have been a conviction play for all of them!
We are either waiting for just after the 15th, or someone's year end update. DU is right, if they dont have something seriously advanced they would have had to RNS by now as we're too close to the end of Q1 to create something new. The rules are clear, even those governing AIM..
I would seriously prefer a T/O and cannot get my head around why you would allow JOG to stay in as an interested producer. Buy it, and share the load with someone else - yes, keep JOG in? Given the 75% you have to pay in tax, why would you? JOG management however, with an eye on careers and future glory (not salary), will likely favour staying in.. I suspect their is some potential conflict here throughout the process..
Dont forget though, the incentive for all former Ithaca bods and ultimately AB is the share price - it's so much more material than their earnings (even at existing well paid levels!). They could get a bigger salary somewhere else (Ithaca). I suspect they have joined
They must have a plan for this month that they think is seriously viable - otherwise they should have called it already!
DYOR, but I also think this will be ok....
Dick these guys don’t care about AIM rules . They are only in it for themselves .
Can somebody explain what value AB has bought to the attention of shareholders ? . He always goes on about building S/H value . To date he’s delivered Diddly Squat !. I have to go personal as he is the man in charge. The Public relations is extremely poor . For all we know these guys could be sailing in the Bahamas enjoying their Sangria ****tails . On a serious note we don’t check their time sheets on how many hours they work .If a deal is not forthcoming then they have shafted s/h who have supported them during dilution and have effectively paid their wages . Do they care about their reputation or s/h ??. I doubt it
AIM Rules for Companies
"General disclosure of price sensitive information
11. An AIM company must issue notification without delay of any new developments which
are not public knowledge which, if made public, would be likely to lead to a significant
movement in the price of its AIM securities. By way of example, this may include matters
concerning a change in:
— its financial condition;
— its sphere of activity;
— the performance of its business; or
— its expectation of its performance"
https://docs.londonstockexchange.com/sites/default/files/documents/AIM%20Rules%20for%20Companies%20%2801012021%29_1.pdf