Roon.....Thanks for posting the Link
A very interesting and many aspects of that article is the path JOG are taking
JOG aims to deliver production from the planned GBA Development Project at an industry leading carbon intensity level due to Platform Electrification, as seen in certain fields in the Norwegian sector
o Overall carbon emissions from the GBA with platform electrification estimated by management at
- Project economic estimates by management for the Core GBA selecting Platform Electrification as our preferred low carbon power solution, are:
I agree without the leak getting out i think we would have seen the placing around the £2.25 price.....however I'm only guessing at that number
Over 30% wiped off the value but like you say fully funded now once the placing is sorted and then we can look forward to the GBA and what suitors will be part of the funding process
The group's estimated cash position at 31 December 2020 was c.£5m, which is c.£3m ahead of our initial 2020 budgeted year-end cash balance.
Just somewhat annoying when AB always said the cash position was enough for 2021
Really dissapointed how it was ever leaked Tommy?....What makes it worse is to announce the placing but we don't know what price this will be.
After watching the interview last week on Vox markets with AB.....i was more than happy hearing his words "2021 is the year for JOG"......and now this has happened
No questions thrown at him about fundraising in the interview but if there would have been and AB would have said we do expect to go down that route....then i believe this set-back would not have been as bad wiping 25% off the share price.
I've been here before many times with so many ups and downs over the past 3/4yrs and just strapped in 'Keeping the faith'
I'll do the same again as i believe the farm out will happen this year as mentioned by AB
I will also be adding once again but will wait until the SP settles down.
However I'm a happy man once again as I've met another lady in my life which has really changed my life....Thanks to 'TINDER'
So now it's a waiting game to see what the placing price will be?.....This is just a set-back but the project remains the same and i have confidence it will be delivered once the farm out process is finalised
I hope Dick....is improving with age and on the right path for a healthy recovery
"Keep the faith"......It always works for me
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Oil price, JOG, Reabold. And finally…
3 March 2021|Categories: Daily Blog|Tags: Jersey Oil & Gas., Reabold Resources|0 Comments
WTI $59.75 -89c, Brent $62.70 -99c, Diff -$2.95 -10c, NG $2.84 +6c, UKNG 40.05p -1.14p
Oil drifted yesterday ahead of tomorrow’s Opec+ meeting where decisions will be taken with regard to output from April onwards. Although there have been some jitters, not surprising given the current oil price, so far there have been few in real panic. Indeed the noises from the Opec+ committee have been positive with regards current production and also significant stock withdrawals expected this year.
The API stats after the close were as expected all over the place following the bad weather in Texas last week. And they were, crude built by 7.4m barrels when the market had expected a draw but products reversed that with huge draws in both gasoline and distillates of over 9m b’s. The market understood all that and the oil price is up nearly a dollar a barrel as I write.
Jersey Oil & Gas- A red letter day indeed…
JOG has announced the Greater Buchan Area Concept Select Update which gives ‘potential for 172 MMboe of 2C contingent resource estimates to be developed from a fully electrified platform’. This is indeed what the market has been waiting for, a really thorough piece of work which shows the quality of project JOG has on its hands and how it has prepared for the next momentous step, that of starting the farm-out process.
The planned development is centred on resuming production at the Buchan oil field and producing the J2 and Verbier oil discoveries as well as other existing and yet to find discoveries within the GBA as future upside. A three-phase development centred around a single integrated wellhead, production, utilities and quarters platform located at the Buchan field – the GBA hub.
The development concept is based on P50 Technically Recoverable Resource estimates of, in aggregate, 172 MMboe of light sweet crude and associated gas within the Core GBA, which includes the Buchan oil field and J2 and Verbier oil discoveries.
Critically, JOG aims to deliver production from the planned GBA Development Project at an industry leading carbon intensity level due to Platform Electrification, as seen in certain fields in the Norwegian sector and with overall carbon emissions from the GBA with platform electrification estimated by management at <1kg/boe.
The effect that these actions are immense, ‘project economic estimates by management for the Core GBA selecting Platform Electrification as our preferred low carbon power solution, are pre-tax free cashflow of $6.4 billion with an NPV (pre-tax) of $1.7 billion giving a payback period of under 3 years with a project internal rate of return (“IRR”) greater than 25%’.
‘Development costs (Capex and Opex) based on today’s values are estimated to be approximately $30
Originally 17% ...when the Verbier drill was just a binary drill but now we have 100% + many recoverable barrels of black stuff
All looking sweet but still a long way to go for the end game
Very hard seeing the true potential here and where the share price could be in 2-4yrs time
I do like the sound of this concept select phase especially the farm out bit
"We now plan to launch a farm-out process, which we expect to be highly attractive to a wide range of oil companies in light of the project's scale, economics and low carbon potential through platform electrification, characteristic of certain fully electrified fields offshore Norway."
I am beginning to get palpitations as I've just checked my trading account for the 1st time since the lows of 60p-70p.....and at that point it didn't make very good reading on paper.
However it just shows with a little or lots of patience and trust in the management how things can turn on a sixpence if you hang on in there and trust your instincts
Even if this hits around £5-£6 within the next 12 months or so then it's certainly a massive incentive for myself looking at retirement and selling my small business to take time out....LOL
Nice rise Tommy....and plenty more to come over the next few months or so
Feel much better now and my heartbeat is slower than it was when this was at 70p last year
Nice to see JB in profit after his big buy in s last year so hats off to you Jim and all shareholders for an exciting and rewarding 2021
Not forgetting Dick who i wish good health & happiness for the foreseeable
Well let's hope it's good timing and not poor timing.....Lol
Maybe 8-10 weeks off or thereabouts on hearing news on the GBA funding process
We could see the share price pushing £2 or more in the forthcoming weeks hopefully on anticipation of news
RNS Number : 6322N
Jersey Oil and Gas PLC
02 February 2021
02 February 2021
Jersey Oil and Gas plc
("Jersey Oil & Gas", "JOG" or the "Company")
Updated Corporate Video and Corporate Presentation
Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company ?focused on the UK Continental Shelf ("UKCS") region of the North Sea, is pleased to announce the availability of an updated corporate animation video, which illustrates our vision for resuming future production from our 100% owned and operated Buchan oil field in addition to the wider Greater Buchan Area. This is accompanied by a corporate presentation.
The Buchan Oil Field - A New Beginning Corporate video is available to view on the Company's website at: www.jerseyoilandgas.com/media/videos/
Jersey Oil and Gas Corporate Presentation is available to download on the Company's website at: www.jerseyoilandgas.com/investors/presentations/
Jersey Oil and Gas plc
Andrew Benitz, CEO
Tel: 020 3757 4983
Tel: 020 3757 4983
Notes to Editors:
Jersey Oil & Gas is a UK E&P company focused on building an upstream oil and gas business in the North Sea. The Company holds a significant acreage position within the Central North Sea referred to as the Greater Buchan Area ("GBA"), which includes operatorship and 100% working interests in blocks that contain the Buchan oil field and J2 and Glenn oil discoveries and an 100% working interest in the P2170 Licence Blocks 20/5b & 21/1d (subject to OGA approval of the acquisition of CIECO V&C UK Limited as announced on 26 November 2020), that contain the Verbier oil discovery and other exploration prospects.
JOG's total GBA acreage is estimated by management to contain more than 180 million barrels of oil equivalent ("mmboe") of discovered P50 recoverable resources net to JOG, in addition to significant exploration upside potential of more than 220 mmboe of prospective resources in close proximity to our planned Buchan platform. JOG is currently progressing the Concept Select phase of an FDP for the Greater Buchan Area.
JOG is focused on delivering shareholder value and growth through creative deal-making, operational success and licensing rounds. Its management is convinced that opportunity exists within the UK North Sea to deliver on this strategy and the Company has a solid track-record of tangible success.
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