Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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I can't make that, can anyone watch do a JOG LSE board RNS?
Serica are doing a presentation on Investor Meet today at 2.00pm. Might be worth viewing to see if there is any mention of Buchan and movement on the FDP.
They look to be increasing their exposure to the CNS - maybe there is still hope for us JOG holders.
Well government approval is what we want asap.
I'm guessing the DSV is in the field to prepare the subsea infrastructure for FPSO removal. Isolating any wellheads, getting rid of hydrocarbons in the pipework and risers to the FPSO which requires FPSO involvement.
Once completed the DSV would be finished and return to port and I would expect Anchor Handlers/Tugs to arrive on scene for FPSO removal. Its happening but not fast!
"Anchors Aweigh," well hopefully.
Boka Atlantis, a diving support vessel has arrived at Western Isles which suggests the FPSO may soon be on its way to a port.
Hello Dick,
Thank you for those 2 links - quite absorbing stuff, particularly as 1 leads into an evidence based debate between opposing scientists.
Through my ISA account with ii. The ask shown was £1.57 which is also bit misleading given the price I paid.
Interesting, thanks. Jockvest111 - did you make that purchase with a broker like HGL (who I understand make an internal market in their trades) or a direct market access broker? I wonder why it's reported late. I'm genuinely interested in how this works.
@greener101 - this trade was reported late. LSE doesn’t try to work out the bid and ask at time of trades for these so just states unknown.
I always assumed the unknown / grey trades are related to brokers like HGL making good their internal ledger with the market. I wonder why yours is 'unknown'.
‘I assume the comment about not wanting talk of JOG's share price is directed at me’
Well at least I didn’t call you @3m asking for £5000 to rescue me from the kidnappers; I spare you that until you’re 78. You’re a long way to go yet.
Good morning and happy Friday everyone. Take a breath and forget the share price for a few days.
That trade is mine and is a buy.
If you believe in this global warming, net zero nonsense, I have a moon ladder in my garage for sale.
Just extend it out and a few steps later, you're the new Neil Armstrong....honest.
Https://www.verywellmind.com/an-overview-of-the-dunning-kruger-effect-4160740
Climate deniers?
Should we believe you in preference to these two deniers?
https://www.youtube.com/watch?v=9UEx_XqT3rE
https://www.youtube.com/watch?v=pj-Iu1i317E
China has as much installed wind as the next 7 countries combined
Solar - more than the rest of the world combined
Maybe they ARE doing something - just that they use a lot of energy making stuff for the rest of the world - we've exported much of our carbon production, and no reason why we shouldn't do something
Maybe stop listening to the Climate Change deniers?
Everyone is loving your posts DU. Our IQs go up a point or two as we think about them. Just not much to add tis all
Thank you for your courtesy, CHF.
I assume you are the sole person who regarded my posts as worth reading? Took me 2 hours + to put together. Guess there's nothing in them worth discussing
Thank you again for your views Dick.
Liam Halligan ( a great guy) and you just confirm my view as a recently ( but coming on for a very long time)
ex-Conservative Party member, that the Tory Party is now a Centre-Left Party.
G'day Einbert. I assume you're travelling 'first', not standard. Perish the thought. You're brave risking London. Mind the peace-loving Arabs and ffs don't let on if you know anyone they disapprove of. And yes, I might be fairly accused of something ending in ...phobia. I just want my country back.
The validity of NPV using forward DCF projections depends fundamentally on the underlying assumptions on a whole range of things being broadly accurate: eg future oil & gas prices, discount (for risk) rate, opex and capex forecasts, tax rates - you name it. The skill lies in understanding enough about a particular company, the industry it operates in and the particular issues facing the company you're valuing, to make reasonable assumptions that get to a broad value that might be capable of corroboration.
All a bit complicated to the man (can I use this term without being arrested?) in the fabled Clapham omnibus.
Talking of clap(ham), I hope the disgraceful politicians' spouses give them all a nasty std. They deserve to have their lives wrecked as well
Hello Dick, I’m a bit preoccupied today. The 5star pump is playing up and the pikeys have half-inched the airline . Again.
Thanks for your posts. I’ll have a read and a think on Berry’s Bus while travelling up to the smoke. ( they’ve given me a few days off )
If the figures are so bad (negative) why not pull the plug now?
I remain nearly optimistic or at least hopeful. I think Herr Benitez is still driving round Jersey in his limo, so things can’t be too bad
It also occurred to me that it's possible (I don't say likely) that if NEO does find a buyer, maybe JOG could "piggy back" on the deal and provide a buyer with an offset to (net) cost of buying HitecVison's (HTv's) subsidiary, NEO Energy by selling alongside NEO. Now that Labour has confirmed its intentions to destroy the North Sea oil & gas industries (despite logic, the loss of countless billions of tax revenues in the short, medium and long term, the trashing of countless tens of thousands of high-skilled British workers' jobs, as well as their hopes and aspirations - their families' too - the need for Britain to look elsewhere at huge increased cost and carbon footprint for the energy it needs to keep the lights on and avoid mass hypothermia - forget energy security; we'll just increase our reliance on our friends and allies, like the US, Qatar, Saudi Arabia? Russia even .....NEO would wreck HTv's overall IRRs if HTv retained its interests in the UKCS, which now offers nil or worse returns for a great deal of effort and risk. Investors in HTv would be more than disappointed were HTv to sacrifice monetary returns for pious causes; let's face it, money talks. How much is enough for the high-rollers? "More" is the truthful answer.
I talked earlier about JOG's 350p per share using DCF numbers to get to NPV10 (10% risk factored into the numbers - cumulative; I didn't factor in "cost of money" - too fussy; I was only looking for ballpark values). Let's try to put some flesh on that bone.
Cash £35m post FDP
Tax losses: £65m @ 40% discounted by 50% = £13m
2P reserves post FDP - say $5pb (ultra conservative with no capex)
25mmmboe @ $5pb = $125m or £100m
Throw in Verbier Deep, Cortina and Wengen for nothing
I make that £148m divided by 36m shares (fully diluted) = near enough £4 a share.
I'd take it - with politicians out of control, the risks are just too great.
jmofwiw
dyor
It literally is - 'permanent destruction'. Even at pre-EPL conditions production declines much quicker than demand - because NS is one of the most expensive places in the world to extract oil on an OPEX basis. Much investment depends on legacy infrastructure - once it closes, it accelerates other things to close - and would never be profitable to re-establish.
I notice Waldorf is in the news looking extremely precarious on bond covenants. There will be more to follow. Politicians must come to their senses, but the longer it goes on the more embarrassing the U-turn.
To equate the global profits of super majors with NS tiddlers is one of the the most egregious needless deliberate misunderstandings ever. But we are a big, dumb post industrial democracy and will chase ourselves into obscurity whilst the developing world takes over.
Some type of clarity on taxation and positive signs on GBA progress will push the stock much higher. Here's hoping.