The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Extracted headline :
Oil and gas: A licensing round for new North Sea oil and gas projects planned to launch in Autumn, with a new taskforce providing bespoke support to new developments – recognising the importance of these fuels to the transition and to our energy security, and that producing gas in the UK has a lower carbon footprint than imported from abroad.
DYOR
https://www.ft.com/content/6388e374-780f-48fd-aed6-8a33c0c407ed
Note the encouragement to the major producers from the government to reverse the NS decline, and specifically the security ‘override’ option alongside the ‘fast tracking’ of new developments..
Given the position JOG is in, this can only be helpful (post from other forum)
https://www.energyvoice.com/oilandgas/north-sea/395300/boris-johnson-oil-gas-ceos-north-sea-supply/?utm_source=Sailthru&utm_medium=email&utm_campaign=Energy%20Voice%20-%20Daily%20Newsletter%202022-03-15&utm_term=Energy%20Voice%20-%20Newsletter
https://www.telegraph.co.uk/news/2022/03/08/second-golden-age-north-sea-oil-possible/
https://www.investorschronicle.co.uk/ideas/2022/02/28/on-a-war-footing/
I suspect the timing and outcome of this may well be an important factor..
https://www.energyvoice.com/renewables-energy-transition/wind/336907/scotwind-offshore-wind-scotland/?utm_source=Sailthru&utm_medium=email&utm_campaign=Energy%20Voice%20-%20Daily%20Newsletter%202022-01-14&utm_term=Energy%20Voice%20-%20Newsletter
DYOR
Essentially highlighting :
Investment rising significantly this year
Fossil fuels never going to make a swift exit, as represent 83% of energy mix, of which O&G 56%
Opec sees long term demand outlook rising
Significant investment into gas
Majors pumping more money into renewables
However, fossil fuel spending far from over...
Patience (IMHO)...... the last announcement was late November.... and it put a number of high profile individuals at the table, with a proven track record, who are used to operating in a much larger company (that they built from the ground up) ....
What does that tell you (and before you say it, do you seriously think their current salaries at JOG will make a significant change to their fortunes compared to the money they made at Ithaca ?? I dont think so... ...
The equity upside however. (if things go well).... now that's a different story!
Make your own mind up...
DYOR
Happy new year all
Worth a read....
Oil and gas capex: investment in fossil fuels is far from fossilised...
https://www.ft.com/content/e8235471-ebe5-4e6d-97be-8c696b98c72d
Clearly it’s for DU to reply, but my personal interpretation and own thoughts are that they are likely better networked/connected with a track record/pedigree of taking a junior all the way… in that sense their experience is more relevant to the situation JOG now finds itself in. That, btw, is in no way a disparaging remark to the team that got us this far…however, I definitely feel increasingly more confident about this! With the reputations that they have clearly built through hard earned success, why would you put yourself in this position if you didn’t wholly believe in the outcome here!?! It certainly won’t be for the salary (whatever that is! Frankly I don’t care what it is - if they deliver it’s worth it, if they don’t it’s irrelevant anyway).
In my view this has enhanced the outlook materially
DYOR/IMHO
Worth having a read of the WHI view on research tree, they also make a few interesting comparisons with the work done at Ithaca with the GSA. You can find the report on research tree (link below).
https://*********************/companies/uk/oil-gas-e-ps/jersey-oil-gas-plc/research/whireland/jersey-oil-gas-jog-directorship-changes-and-gba-update
Worth a read. Essentially they are holding their call for FO success, and clearly feel strongly this is positive.
IMHO/DYOR