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I'm with you PC01. I really dont see this as a worry. If they raise 12.5m at say 1.50 per share, and the market cap then returns to near the recent high (achieved at the recent ~£2.60 share price equivalent) + the £12.5m cash they have raised you end up at about £2.20 a share. That doesn't even factor in the safety net either, nor the better chance of a successful outcome (because they have more time). If the share rises further on improved prospects (which it should), everybody wins. I fail to see how this is a bad thing, other than the way it has been communicated and some short term disappointment. IMHO.
Well said PC01. If people believe in this, which for the record I do, then sit tight and stay calm. The position is vastly strengthened with cash in the bank as a number of members (PC01, Roisin) have already pointed out.. Interested parties can’t run the clock down in the same way as there is no burning platform, and it may well prompt earlier acquisition interest. Shame on the comms front, but I’m sure we’ll all get over it!
Note the further upgrade at the bottom from WH Ireland, who have almost doubled their forecast over the last 6 months. Like most here, IMHO it’s worth a lot more than the ~£5 they are now aligned on, however ignoring their absolute quantum forecast - the direction of travel (2x upgrades) is good, especially given they are not the house broker!
https://www.google.co.uk/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/219908
Concept select imminent, Farm out process about to launch, all manner of outcomes possible including Photographers point around potential acquisition. I dont think there is anything obvious about your point VK, although I am curious..... surely you aren't short on this given the imminent activity thats about to take place?
And what a post that was ??
I suspect we are going to find out shortly (there a potentially a few, if they go that route )...
Out of curiosity where did you get the £billion from?
Might be a good time to rethink your position on this share, I’m not sure it’s for you ??
All IMHO of course
Thanks Ajax, I dont have a subscription either.
Looks like they formally announced it to the market this morning (but marked the 'under review' from mid-December), so I am sure Proactive Investors will pick it up soon for us all to see the headlines.
I extracted the below which is in the public domain (research tree). Forgetting the craziness of the valuation (however they got there ?!?) the sentiment is good based on heightened probability of success and the material upgrade indication. Whichever way you look at it, more positive news in my view.
IMO/DYOR
On 14 December 2020 we put our fair value estimate of 268p for Jersey Oil & Gas under review pending a material uplift to reflect i) progress made in respect of the concept select phase of the Greater Buchan Area and ii) increased confidence in the deliverability of the Greater Buchan Area as a comprehensive multi-field development. For these reasons, we are increasing the scope of our valuation to include, not only the Buchan field (81.2mmb), but core satellite discoveries, namely, Verbier (28m...
Conoco/Concho: Surfing the wave - Interesting article on the latest US oil consolidation, which is a straight bet on the future on oil over the next 1-2 decades - https://on.ft.com/37tplfY
Lots of scope for demand/acquisition, especially in proven conventional assets. I think this is all shaping nicely (IMHO), exploration investment is heavily down, the world will recover next year..
DYOR / IMO
https://www.google.co.uk/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/931577
I'd personally would be surprised if he had. This is a chap who in late-ish September said his whole holding was intact and he had been in poor health (which hopefully he's recovering from). The landscape is no worse now (than September) and the brokers collective endorsement is unchanged following interims. I suspect that like most LTM he is waiting for some meaningful news to land - of which there is much on the near term horizon. Lets see.