Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
With last week's RNS saying they're in negotiations with multiple serious counterparties it wasn't unreasonable to assume then a deal might be close, so if a deal is close would it be insider dealing for them to buy shares now? I'm in two minds about it but suppose it depends how imminent a deal can be reasonably inferred from last week's update?
https://www.investopedia.com/terms/s/spring_loading.asp#:~:text=This%20is%20a%20controversial%20practice,insider%20information%2C%20which%20is%20illegal.
I don't see this as an issue personally, it's the guardian and we have a conservative government, if it was taken seriously in the Telegraph then I might take some notice but they've dismissed it as left wing nonsense https://www.telegraph.co.uk/news/2022/04/28/windfall-tax-oil-gas-just-left-wing-populism/ . Even if there was a tax, which I doubt there will be as would go counter to bringing back energy dependency within our control and away from Russia et al, for the initial capital investment to get it producing maybe they could find a clever way to offset against profits until things are back to normal and it's a non-issue
https://oilprice.com/Latest-Energy-News/World-News/Europe-Turns-To-North-Sea-Oil-To-Replace-Russian-Supply.html surely they can't fail to do a deal given the current climate?.....can they?... can't be much longer to wait to find out now, hoping for a material update in the results due soon rather than a vacuous and vague promise of things to come.
Nothing new that we don't already know but nice to see some positive media attention https://www.heraldscotland.com/business_hq/20063832.north-sea-development-support-energy-security-strategy/
Small mention for Jersey in here https://www.energyvoice.com/oilandgas/north-sea/402302/new-north-sea-oil-projects-could-deliver-1-5bn-barrels/
I've been guilty of venting my frustrations on here at times but you can see the vast majority of people are LTH who've held this for longer than many marriages last these days and so aren't going to sell until there's news be it good or bad, and certainly aren't going to be swayed by someone posting unsubstantiated musings some of which vear towards sounding like a broken record
Certainly going to be a renewed focus on UK assets in the coming weeks https://www.reuters.com/world/uk/shell-invest-up-25-bln-pounds-uks-energy-sector-2022-03-24/
You can try their contact us page: https://www.jerseyoilandgas.com/contact/ I used to receive responses directly from the Jog team but last couple have only been copy and paste jobs from Camarco their PR company so personally haven't bothered for a while. Jim and son occasionally post on here and hold about 5% each I think.
We should have annual results posted in roughly 6 weeks which should include a progress update, personally I'm hoping we'll get news of a deal before then, times have never been better and short of some Saudi refineries going down I can't see how they could ever be better. Going it alone who knows what the world will look like in the 5+ years it would take, too long of a wait for there to be any sense in even entertaining the idea in my view rather than hedging now with a good rump shareholding retained to give potential for further upside but de-risking at the same time.
My preference would be we continue down the green path of electrification and farm out, but having seen something similar early in the week in the telegraph, it did make me wonder if they roll back and allow dirty extraction wouldn't it increase the chances of someone buying JOG so they can quickly stick a rig on it and pick up where Repsol left off?
Could shake things up a bit https://www.telegraph.co.uk/business/2022/03/15/net-zero-rules-chopping-block-boost-north-sea-oil-production/
There's only so many times you can raise to negotiate from a position of strength before you look like you've lost all integrity and credibility, personally I think they've reached the point where they couldn't/shouldn't get away with that again. If they can't do a deal now then can't see why a few bob extra in the bank would mean that they would when the last was to ensure they are 'fully funded' to get a deal over the line.
SP looking more and more absurdly undervalued by the day, can only assume people who haven't bought in think it's too good to be true and there has to be a catch, suppose the catch is JOG by themselves can't get it out the ground but at these prices there surely must be a queue of suitors out there prepared to do a deal where everyone's a winner! After 4+ years holding and topping up part of me would be delighted with £10, but then given they're sitting on so much even thay would be forever tinged with some regret.
Hate getting excited seeing an RNS email drop in my inbox only to open it and find it's an auction call extension. Still not reached the last discounted rights issue price yet. Looking forward to opening an RNS with 'real' news which hopefully can't be too much further off now, the stars are aligning nicely at the moment, onwards and upwards. GLA
With Russia kicking off making security of supply more important than ever, highest oil price per barrel for a long time, and about to (finally) see the full easing of covid restrictions, however the negotiations went in the past if they can't get a deal over the line now I'll seriously start to doubt they ever will. Hoping for a quick resolution, if they can't, I hope they have the guys to admit as much rather than pumping shareholders for another capital raise. While the sells have slowed and generally matched by buys the last couple of weeks I find anyone selling at this point utterly perplexing, if you've bought your ticket and held until now you might as well wait until we reach the destination, wherever that might be.
It's in the DM as well for free https://www.dailymail.co.uk/news/article-10487451/Six-North-Sea-oil-gas-fields-ahead.html
Having watched this for over 4 years it's following its usual pattern of drifting downwards with no news, when there is news it then typically has a significant correction either way to the point where imo it could go to 50p or £5 (hopefully the latter). I'm personally not reading too much into the constant erosion, if anything I thought it may have actually drifted lower by now, guess people are now like me more or less in the 'I've waited this long now let's see what the outcome is' camp. If they get a farm out it could be spectacular, if....
I feel your frustration as well Abatt, there's only a finite number of potential partners and on the salaries JOG directors are on you'd hope they've been proactive in contacting them and not sitting around waiting to pick up the phone, must be some news soon to say they've reached an agreement or no one has bitten, one thing's for sure though, this wait to hear which way it's gone is becoming very tedious!