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HiTec selling NEO is very different from NEO pulling out of Buchan. If NEO ownership passes to another party, this doesn't mean NEO is pulling out of Buchan. It might be precisely because NEO has Buchan (amongst other things) that HiTec think they can get a good price for NEO.

Based purely on the value of the cash received versus the market cap, the price today should be +10%. There's no argument that this was already priced in before news, we all know practically nothing's priced into JOG. Good to see the completion happen though, and on schedule.

My sense is people will soon start to twig that the bankable feasibility study due H1 2024 may now reveal many more positives based on yesterday's upgrade, and the SP will start a steady rise towards that being announced.

Decent corporate presentation/update. There's a lot more emphasis now on the value disconnect, and the number of slides and references dedicated to this suggest the board is fully aware of the issue. Something has to give at some stage surely.

For anyone who remembers, this feels a lot like Providence Resources / Barryroe when they 'farmed out' to a Chinese company a few years ago. The funds never turned up and a farcical period ensued over the following months saying assurances had been received the money was on its way, it was stuck in the banking system, it was held up because of AML checks, etc etc. I hope this isn't the case here, but after that debacle my gut feeling's hardly reassuring

Now that the full 100% of the GBA is accounted for in farmouts, what's to stop NEO or Serica swooping in and just taking JOG out? They could bid say double the share price to gain a further 20% of the reserves. There'd be no additional CAPEX because this is already carried, they'd essentially be buying up another chunk of the GBA for which they've already been happy to spend much more on given said CAPEX commitments. If the project is as compelling as it seems given the financial commitments they've made, this would be a pretty painless way of upping their interests. I find it hard to believe neither would've thought of this, or won't do in the coming months as plans progress in 2024. Of course there's the change of a bid from elsewhere but they will know the GBA much better than others.

Brilliant news. Everything progressing well. Wouldn't be surprised to see this hit 250-300p today / monday, generally JOG moves big when it moves, extraordinary to think this is still way below the pre-farmout price when so much has been achieved and derisked since then. One of the crucial pieces of the jigsaw is now in place with an extra £10m in the bank too, JOG is teeing up really well. It's clear from the announcement and corporate presentation that other farm-out(s) are a priority, today's news should add a lot of clout to those conversations

Regarding the upcoming election, what is the thinking about impact on SOLG of whether Noboa or Gonzalez wins? I don't know either of their stances on mining although have read that both are pro-oil. From memory when the previous election happened a couple of years ago the share price shuddered a bit then recovered, I wonder what the impact could be this time, if anything. Any thoughts appreciated.

What I can’t understand is why he would come out and tell us what he’s already told us, that a fundraising is needed. We’ve known this for years. Yes this crashes the share price even further and even gives the incoming funder a chance to drive the price down further over the coming months.

He even says in the announcement that the fundraising has no guarantee of being completed, which means it’s not material information needing to be released to the market. Maybe someone will correct me, and perhaps there’s an AIM rules that requires this release, but to me it seems completely negligent towards existing shareholders. The only silver lining is that existing s/hs will be able to invest in the fundraising, and the benefit, as I’ve said before, is that a fundraising, while painful, makes it much more likely of getting to FID without going bust. But still it seems a very strange announcement to make.

Rising up nicely. Perhaps people reading the Simon T article over the weekend.

Andrew Benitz is never as effusive in RNSs as we'd like him to be, but the alternative with some small cap oilers is CEOs telling you what they had for breakfast. It's a lot of bluster and no progress.

With JOG on the other hand there seems to be decent, solid progress and it feels like a few pieces of the puzzle may fall into place as we head towards year end.

Looking at the language of the RNS, a couple of things I liked.

-It tells us negotiations for the FPSO are 'advancing' rather than just ongoing. I interpret this as being definitive.

-As Greener points out below this is the first time we are being explicitly told about second phase farm-out counterparties

- Finally in the wrap up AB says "creating additional value through securing further farm-outs" PLURAL. I wonder what this could mean for the final slice of the project. It feels like it can't just be a slip of the tongue. Having a few interested parties lined up bodes well.

Just my reading but i think these are all positives. Agree with others - patience is required.

Something going on, this has popped

How much would LOGP need from the Irish Government to settle? £20m, £30m? Presumably both of those figures are short of any award, even if that isn't guaranteed.

Been thinking about fundraising and wonder what others think here.

Purely my opinion this but my take is that the share price is where it is because the market is assuming BLVN will run out of cash before we reach FID. FID has clearly been delayed forever, and each day that passes reduces BLVN's headroom. But I don't believe the SP is where it is based on any fundamental flaw with Etinde, or any doubt that BLVN holds inherent value in that asset.

So, my thinking is that if BLVN is able to securing funding, yes this may dilute existing shareholders on paper, but rather than sending the SP down, it should theoretically rocket, because the danger of BLVN continuing as a going concern recedes, and we are straight back in the game towards getting to FID. So often placings are seen as a negative, but here it's the reverse. Therefore I don't see it as a negative at all that a fundraising is being discussed.

Perhaps this is the optimist in me or the biases of a very very LTH. But, if BLVN raised say a million quid to keep the lights on for another year or so to get to FID, that would surely only be a good thing for the SP. Meanwhile, we could get news from Perenco at any time. All IMHO.

Stranger things have happened on AIM though. Interested in others' thoughts.

I suspect it's traders hoovering up cheap shares because the drop was so massive (overdone?) on open. Very likely accentuated by stop losses being triggered. A lot of the sells were in the 1s and this is now back in the 2s, so early buyers are looking for a return.

Totally my opinion this but -90% looked oversold to me, i would have expected more like -70%. And i think that was likely caused by aggressive stop losses. Maybe that's what some buyers are thinking too. I think a few have commented on the cash in the bank of the company too.

Huge drop on open, some buyers now coming in hoovering up cheap shares.

Only two more days of August, we've been told news should be with us this month. RNS could come any time. Come on OVB, open your mail. today

This SP is like a yo-yo. Heads to the 2s when newsflow dries up, usually coinciding with the Mongolian weather moratorium on drilling activity. Then, when there's light on the horizon, when something might be happening, it starts to rise...3, 4, 5, 6p onwards. Each time the rise grows as MATD seemingly gets closer to first oil. 'Will it be this year?' it seems each time. But there's always a fly in the ointment, a delay, some unexpected hurdle, and something happens that hurls the SP back into the 2s again. Usually, again, followed by a protracted period of limited newsflow. A long wait ensues while short term investors jump for lifeboats.

I've held MATD for c.5 years now and seen this happen time and again. Managed to pick up some cheap shares in the 2s along the way. And each time the following year these shares have all at some point ended up being +100%.

So, here's hoping first oil's upon us this time. It'll be the thing saves us from the 2s pattern occurring again and propels the SP upwards for good. I will quietly accumulate again in the 2s, or near enough the low 3s. Perhaps today. Maybe a shorter wait this time too...Heron's already drilled so fingers crossed weather won't stop getting her online. Let's see. DYOR of course.

This was up 100% on the day when the Russian approval was granted. But the invasion of Ukraine then totally took the wind out of the sails here, literally only a couple of days later.

Excited to see if this rises and then holds/rerates this time round.

Looking at the Russian authorisation in 2022, the RNS came at 3.30pm.

My thinking is that here it'll be similar. There will be a letter or email received during the day followed by an RNS. Probably less likely that it will be a 7am RNS unless they get an email v early in the day.

So, if news is due in August as we've been told the RNS may come during business hours between today and Thursday IMHO