Member Info for ALGU

While not a fan of the arbitrary nature of the windfall tax, now that it's here the choice available to big UK oil companies with swelling coffers is either to pay additional tax or to use that money to invest in UK oil. IMHO it seems far more likely they would choose the latter and have something to show for it in the future rather than pay the tax thereby limiting their future investment options, and have to dig further into their own coffers to pay for investment projects.

Could be on track today. Nice steady increases here the last few sessions

The people most affected by a recession aren't the ones buying a new rolex at WOSG.

Media is painting a big recession story but WOSG's figures don't seem to endorse the same story

BR adding almost 1% to their stake at these prices, taking them near 7.5%

Agreed, and even if a deal is 1/2/3 months away, these purchases are a great endorsement of the potential ahead, and that the directors clearly believe we’re getting much closer

Directors buying shares in the 260s, even after the recent rise. They must be super confident.

Now we have a frac date, plus funding, the elements are in place for a gradual rise towards of that date.

In EK's previous post on JOG in 2020, he stated he thought the SP could go to ten quid. Still huge potential upside from here

This is really moving now. Do you think there could be concrete farmout news or is this just off the back of the update? Either way the market seems to be waking up to the fact JOG was at a massive discount if a deal materialises

This is the bit i like. Definitely a shift up in tone since the last RNS

10% and moving...

Does anyone know how the share price works on relisting? Does the share price start at the price it was suspended at or do they set a new share price as though the company were in an IPO? I have a feeling it’s the former. If it is, one would’ve thought the share price should significantly re-rate given the hike in the price of oil since this was suspended. Interested to hear others thoughts. Hopefully we will get the readmission news by the end of April

Looks like the Arden note has given this a nudge in the rerate direction.

No-one ever signposts bad news. That has to say something here.
IMHO / DYOR

Good to see HUR moving up despite brent's relative recent weakness. Although HUR is clearly linked to the price of oil & ongoing production, it's clearly much more than that and good to see the market taking notice of additional elements e.g. acreage, tax credits etc..

Once this breaks 5p it feels like we're really in business

Like many others in the last couple of weeks, today marks me being back in positive after being so heavily underwater since an original purchase in the 30s, covid, much averaging down, and the old board's efforts to give away the company.
I don't post much on this board but wanted to thank posters who do - your positivity i'm sure has helped many others beyond me. HUR has gone from -95% to plus territory, and a sizeable holding. It's been a rollercoaster. I never imagined it would recover from the sub-1p days, in the same way i could never grasp why and how the old board felt they could justify giving the company away on the cheap. It's scary to think that it almost went through, but sometimes justice prevails. Thank goodness for Crystal Amber too.
Now, when to sell...

Very harsh. The market cap is almost less than the cash OVB has (in safe jurisdictions at that). And, as has long been the case, no value is being ascribed to orenetide. On the flip side, this means - theoretically - the market cap shouldn't be falling below the value of the cash/equivalents, but over the last week we have seen it clearly has done just that. Glad today's price has taken us back to a slightly more reasonable place

Hard to say MPO. JOG has been more resilient than most oilers (even producing ones) of late, so you could figure that a deal is imminent, or at the very least much more likely in the current climate. With a shift away from Russian oil and JOG's assets sitting plum in the north sea, this has become a much more attractive proposition. That, and the fact the market cap bears little resemblance to the oil in place here and was already undervalued, means the SP was due some upwards movement. We're still below the SP highs of last year, when the POO was much lower, so a move upwards suddenly doesn't seem so strange

Welcome RNS from the board, provides some comfort and clarity. Hopefully the price firms up a bit more from here.