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DU - question for you. I know you've taken a lengthy stare at the economics of the farm out and feel it wont work on highly attractive economic terms for LTH based on recent posts. Have you got any thoughts / points of reference for assets sale in the last few years that are similar to JOGs? I know the recent macro environment makes this hard to benchmark.. Just curious for your view
DYOR, etc
Hi du,
Agreed, I'm always somewhat skeptical of the red/blue, (with similar recent experiences as you have just had), but still think it looks very strange - there's been a relatively high volume last few days. But price very stable, so it's not massive buying or selling in one direction, but something seems to be happening?
Hope you are doing well.
I wouldn't place too much reliance on the colour of the reported trades, robs12. I did a small round-up (of 550 shares - to round up my holding to the nearest thousand shares) at 160.50p @ 11.15 hrs yesterday. This showed as a "sell. Many other trades at around the same price were evident around the time I dealt, probably also buys (but reported as sells). Don't ask what MMs get up to because they're cheats of the highest order.
JOG handed them a new price level to play to their advantage - 165p. I don't make forecasts about share prices because it's a mug's game, but I'm not expecting any fireworks unless and until there's good news on selling the company. I can't see how a farm-out can work, given the numbers and the prices at which oil in the ground changes hands at. I'm probably wrong - it wouldn't be the first time
GL whatever
dyor
Its really odd. The last three days trading (and late last Friday afternoon) is a sea of red. And relatively large sums involved, yet the price hasn't budged.
Two buys, each of 35,000, indicates good news to me. I believe someone is showing an interest in JOG!
keeping in mind all the market collapsed it is a good news it's not moving ??
Its really odd that the share price has not been moving at all up or down for the last couple of days. And no one has been posting any messages since Monday. Are we all getting very nervous? I thought that at least with my post I would try and break the silence...
.......ahh.........I see, MP. Thanks for the clarification. I claim mental incapacity on health grounds for my failure to understand. I was also foxed by the fact you regard £40k as "not a lot". You are clearly very rich................:-)). If you are, please buy a lot more shares and send the price back to the £4 it briefly hit back in 2017, so that we can consider if we still like the risk.
Les Thomas didn't have to buy any shares and seeing him dip his hand into his own pocket was encouraging. It was relief not to read of more options for the ones that count.
Thanks for your good wishes. I'll know more later this week. Fingers crossed.............
GLAL
dyor
The four trades today each of 42,000 at 161p were probably buys. There have also been large trades in the past week or so.
Could stake building be occurring or is it just an institutional investor?
Dickupham
I had noticed the transfer to ISA trade, it was the 25000 deal I was commenting on. LT is a recent appointment, good to see him getting involved. Directors also dipped in further in the recent fund raise, all positive signs. Hope your feeling better and keeping your spirits up.
I think this might be more relevant:
"Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company ?focused on the UK Continental Shelf region of the North Sea, was notified on 10 May 2021 that, on 7 May 2021, Leslie Thomas, a Non-Executive Director of the Company, bought 25,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at a price of 159.25 pence per Ordinary Share (the "Acquisition"). As a result of the Acquisition, Mr Thomas' total shareholding in the Company comprises 25,000 Ordinary Shares, representing approximately 0.08 per cent. of the Company's issued share capital".
https://www.investegate.co.uk/jersey-oil---38--gas-plc--jog-/rns/director-dealing/202105101044500886Y/
dyor
MP - it's a transfer from dealing account (or equivalent) into an ISA. Suggests he's expecting a gain..............
Not a lot, but surely positive. Oil price not doing too bad either.