Member Info for dickupham

..............'I didn’t see a comment from management saying we are worth 35 million'..............

............possibly because they didn't make that comment, workover. As far as I understand.the situation the three partners in Verbier (and the rest of the area covered by Licence P2170) decided to have a guess at how much Verbier was notionally worth and the best number was then drawn out of a hat. I'm not saying which of them guessed any amount or what the rules were on what 'best' meant because I was sworn to secrecy.

Cortina and Meribel don't exist - nor does the cash that's supposed to be in JOG's bank account (until they blow it on confirming there's 25MMboe or less in Verbier and Cortina is definitely a figment of their imagination). Buchan and Tweedmuir South are stark confirmation that Licence P2170 is smack in the middle of bone dry territory from an olil discovery perspective - they could hardly have chosen a worse spot on the planet to start doing pointless drills.

If I were you I'd sell immediately and stick the money into UKOG, which would be an even better investment if it had any oil reserves to speak of and a few bob in the bank. Plus management who were a bit shyer when it comes to taking fat packages out of money raised by issuing the nearly 5 billion shares they have done to date. That's one for every other person on the planet. Get in quick or you might miss the bus. It's presently only worth about 3 or 4 times JOG according to the market.

Featured below is one of the people who make up the market:

https://www.youtube.com/watch?reload=9&v=asgfeRXdjxc

JOG's market cap at 180p per share is c.£35m.

RNS of 20 October 2017:
https://www.investegate.co.uk/jersey-oil---38--gas-plc--jog-/rns/placing-to-raise--20m-by-accelerated-bookbuild/201710200700031694U/

.................'Current management estimates for gross recoverable resources attributable to JOG across all of the P.2170 Licence prospects (Verbier, Cortina and Meribel) range from 70 MMboe in the low case to 273 MMboe in the upside case, which correspond to management estimates for net asset value to JOG of approximately £83.7 million in the low case (which assumes a subsea tie-back operation) to £400.5 million in the upside case (on a standalone production platform basis).

In addition to confirming the presence of oil in the Verbier prospect, this discovery provides valuable information to help better understand the prospectivity of the P.2170 Licence area, which includes the Cortina prospect and the Meribel lead'.............

dyor/foiyd

.......facile and unresearched doesn't begin to describe your post Julia.

As a matter of interest how would you suggest CLNR begins acting?

Great critique btw, levi..........

............am I dreaming or have this morning's posts been taken down?

NTTG - imo UKOG stinks to high heaven, as does FRR. Lenigas is no longer supposed to be involved in UK AIM companies but UKOG bears all his hallmarks. The placing shares will already have been sold on to the mug punters who think people like Sanderson are going to make them rich.

It's a kind of desperation evident in traders of certain companies' shares. In extreme cases it can lead to excessive attendance at gymnasiums and other sanitoriums.

If they don't start the Verbier drill soon there's a danger they'll have to delay things until all the skiers have gone home and that would take us to at least May next year

THT - my excitement is based on the fact you sold. Based on your investment record this makes it practically a racing certainty :-) ........in awarding it 10 new UKCS licences in the 30th Round, it would seem the OGA does not share your views about CLNR......... Ref the wealthy people who have recently invested in CLNR, generally in life, people who have accumulated wealth have done so by behaving sensibly. More tends to accrue to these kind of people as time progresses. Losers tend to continue to lose. Some might argue it is best to follow winners than losers but its an esoteric argument I guess............. No-one has ever suggested CLNR is anything other than high risk play. It is a risk vs potential reward example in the extreme. So was JOG at 8p before it found a farm in partner in Statoil. UKOG looks a good one for you as there are only 4.5bn shares in issue and its market cap is only 5 times that of CLNR. imo/dyor

..........and one midget. The circumstances attaching to the role changes of both the men you refer to were fully explained at the relevant times. There was nothing to read into the changes. Both the men you refer to have achieved a thousand times more than you ever will in your worthless life, Rizelino.

.......I'm waiting until Jupiter is lined up with Uranus..............

THT - I assume your post was in response to one made by your "my target is to see a liquidator appointed" mentor, to whom you and many others continue to give oxygen. It is daft to this because clearly he has nothing to offer except sweeping statements about CLNR's failure so far to make anyone much money except a few day traders whose timing was good. Lots of people who dont understand, have not got the money to stay invested or take advice from people they dont know whose motives are questionable all moving in the same direction at the same time are bound to cause big swings in any companys share price. You will continue to fail to make money in the markets if you don't understand things like the difference between in the money options and out of the money options, when they are used, why they are used and what it is normal to expect. The directors arent paid a fortune relatively speaking and not many would complain if there was 10% dilution for 100% sustainable increase in the share price. I see CLNR as a binary bet - maybe Im wrong to do this but it puts me in the right frame of mind to hold through the violent price swings caused by the kind of people (they cant realistically be called investors - gamblers is a better description, or perhaps soothsayers who are able to read the minds of other similarly gifted people). If CLNR manages to farm out ANY of its 12 licences (before it goes bust) to a player that has the substance to prove up reserves then the price will increase significantly because at todays price the company is worth jack shite - a few paltry million, the exact number of which is chosen at random and the market makers play around making money out of traders because they have to pick a number. I was semi serious about the horses, THT - you'd have a lot more time left for DIY etc if you didnt devote as much time as you do telling people you dont know that another person you dont know (Algy Cluff) is basically dishonest. I dont believe he is whereas, based on the evidence, I believe the person on here you seem to pay most attention to IS. He craves oxygen for whatever his agenda is - why give it to him? People should make up their own minds and stick to the fundamentals not the short term share price. Thats of course unless youre a talented day trader. Im with the Woolwich. Ive deliberately left out apostrophes because they come out as � (which will probably now come out as apostrophes). HELP - the price has gone down again. Maybe more are selling than buying. Never thought of that.

........"still can see �4-5 on oil discovery"............... ............oil has already been discovered, boom.boom.

A1m1 - interesting thoughts on Centrica - thank you for those. I hadn't looked into things in that depth. I don't for a second think CLNR is focused on anything except making the most of its assets, however this is achieved. As everyone knows, these increased very significantly following the 30th Licensing Round awards and it will take time to evaluate what strategy to follow given all the variables involved. A lot seem to think this can be done in a week or two, which seems a bit shortsighted. It seems possible to me the award of the new licences meant a proposed farm out had to be reconsidered, but this is just guessing. Seems odd that Algy chose to get everyone excited by giving the MoS interview when he did. He must (or should) have known there was unlikely to be a farm-in announced when a lot were expecting one. A cynic might suggest it was to allow a few favoured types to buy in cheaply when the inevitable happened, which was a rush for the exits by many, cursing him as they sold, driving the price down to where it is now in the process. Not sure there is anything to back this up. Does it matter as long as a farm-out is announced before the P2248 licence has to be handed back? If Algy truly believes CLNR is sitting on all those reserves, he won't want a sale that values them at �45m-�90m (10p to 20p a share). It might be why Spencer and Dorfman are there. With Algys own holding and a few other supporters with a few % between them, they have a blocking vote because it is shares voted that count in a GM and 75% in favour would be needed for a sale to go through. I intend to wait and see what happens. It might get quite interesting. GL imo/dyor

Sounds to me as if you might be in the wrong game, THT. Have you thought of horse racing instead? The industry is better regulated (by the BHRA), you can watch your horse in action and check for yourself it has four legs and if your choice is right you can multibag in minutes. Go for it :-) Careful selection and patience don't seem to be your strongest suits (re selling before the big rises). Who was it said: "The stock market is a device for transferring money from the impatient to the patient". I think it might have been that Warren Buffet, senile old git? Seriously, commiseration on your recent losses THT. I dropped a packet (I mean it) in XEL but was fortunate enough to buy most of my holding in JOG (still a long way to go if things play out as I'm hoping) at 8p to 20p. The Statoil farm-in and the subsequent Verbier discovery were the triggers to nearly �4 at one point. A similar profile might (I say 'might') develop here but I'm not counting any chickens. I'm also holding SQZ, which I accumulated at relatively low prices. Trump hasn't done us any favours but I'm hope a solution can be found that allows the BKR deal to go ahead. If it is, the shares should quickly recover to recent levels and beyond. I get a dcf value on them of 150p plus, post deal I'm going to wait to find out what happens here. It would be an elaborate hoax if there was no farm-out but not the first time I've been caught if it is. Cluff, Swindells and Nunn will have a lot t o answer for if it's all hot air. Why the 10 new licences, though? GL

The puzzle to me is why the UK Govt, via OGA, would award 10 new licences to a two-bit chancer (which is what a few people are suggesting CLNR is). The OGA is clearly determined to see MER carried through, after seeing the Treasury�s NS tax revenues dry up almost completely since about 2014. This seems to have concentrated certain minds in high places and there is an apparent determination to see every NS prospect drilled and even small finds monetised. It seems possible to me that, rather than having no potential farminee to P2248 or whatever the licence number is, there is in fact more than one and interested parties are now also evaluating the newly awarded licences � perhaps weighing the options to see if there's a bigger deal to be done? Maybe this is a "best and final offers" by whatever date situation? Stranger things have probably happened at sea. wdik? None of those who have recently bought shares in CLNR in volume seems to have moved. Make of this what you will. Conversely, those to whom a holding of (say) 50,000 - 250,000 shares is significant are the ones who have largely determined the recent short term price and caused all the volatility based on rumour. There have been more large buys than large sells as far as I can tell, although we are not always given the full picture. I invest for the longer term (it's not to say it's right - I just do) so am less concerned about short term price. The risk to the long term holder is loss of investment cost. But the potential rewards are there to counter this � at least until we find out they are unlikely to arrive. Never mind � there is always the next great hope. I am told UKOG and FRR are racing certainties 😊 It will have been a silly move by Algy to get everyone excited about CLNR's situation if nothing is going to come of it. He hasn't shown in the past he's silly. Nor have Lloyd Dorfman and Michael Spencer. imo/dyor

You have excellent hearing, Cebo. Thanks for the info............. Looks like more or less the same timeframe as last year for the drill. We live in interesting times

https://www.marinetraffic.com/en/ais/details/ships/shipid:458810/mmsi:370506000/imo:8768294/vessel:WEST_PHOENIX ........destination Guillemot......... .......does anyone see the connection?? https://www.offshore-technology.com/projects/anasuria-cluster-central-north-sea/ 'The Anasuria Cluster, located approximately 175km east of Aberdeen in the Central North Sea, United Kingdom, incorporates the Teal, Teal South, Guillemot A and Cook fields, all of which share the Anasuria floating production, storage and offloading (FPSO) host platform'.

Share prices are the result of supply vs demand, with market makers (MMs) providing the means to buy and sell. If demand increases, so will the price, because the MMs have to offer more to existing holders to persuade them to sell enough shares to meet the demand side. The MMs profit from the difference between what they have to pay for the shares and what they are able to sell them for. It isn't rocket science - the same principles apply in markets of all kinds all over the world. Shares in companies like CLNR, where there are loads of 'penny' shares in issue that make up its total value (market capitalisation, or 'market cap') are favourites of short term share traders who look for opportunities to trade the shares on volatility for short term gain. They care little about anything except the share price and follow trends and charts that help them determine when to buy and when to sell. If a lot of traders see the same trends at the same time, the result is large swings in a company's share price. Recognise anything? 'News' can be a big determinant in a company's short term share price. It may be part of a company's 'fundamentals' - which underpin its value. Not everyone is able to understand a company's fundamentals and opinions on what they are might differ to an extent, but they invariably play out in the end and result in a share price that reflects the true value of every company (because normal measurements of investment return can be made and applied). CLNR's fundamentals involve what is going to happen with all the licences it now holds. Questions people interested in CLNR should ask themselves include: 1 what is the track record to date of the people who set up and run the company 2 what are the important things that need to happen for CLNR to fairly assume a market value that is a lot higher than it is today 3 do they want to be influenced by others in their thinking about what CLNR might become worth if just one or two of the 12 NS licences just awarded to it by the OGA in preference to other more established companies pay off, which would require farm-in partners to be signed up before it could happen or, less likely, a great deal of additional capital to be raised 4 what was it about CLNR's applications for the licences that persuaded the OGA to make the awards? The big money, if it is there to be made when and if CLNR successfully farms out a number of the new (and existing) licences, will NOT be made by the day traders. Have already successful people like Michael Spencer and Lloyd Dorfman sold any shares recently? Or is the evidence that they bought big holdings ahead of the licence awards. Do you prefer Rizelinos empty words or their actions which involved hard cash? Q Why did people not buy a lot more JOG shares at 8p than they did, ahead of the Statoil farm-in. A. It has to do with crystal balls imo/dyor

Maybe just going for a sail............ .........or dropping someone off at Lossiemouth to save them petrol............ Does anyone know Equinor's (ex Statoil) first drill location? https://www.marinetraffic.com/en/ais/details/ships/shipid:458810/mmsi:370506000/imo:8768294/vessel:WEST_PHOENIX

Rizalino - you would do well to think more carefully before trashing the reputation of someone who is clearly not guilty of what you accuse him of. You have likened Algy Cluff, who has a distinguished and honorable career (being most recently awarded the OBE for his services to the Oil Industry and to charitable causes) to David Lenigas and also accused him of 'ramping' in regard to CLNR's North Sea gasification plans. Both these unsubstantiated allegations - which you have made without qualification - are fundamentally wrong. You can criticise the volatility of the share price if you like, but this would make you a bit silly (the evidence is that you are) because CLNR is an early stage tiddler (in market cap terms) in an industry which is known to be high risk from an investor's perspective. AIM shares, particularly those on the list of day traders go up and down on a whim. It's only possible to judge the performance of an AIM company in the longer term, which is sometimes measured in years. Things don't happen quickly in the oil industry and until a company's future prospects can be judged with any kind of certainty, its shares can only trade on hope. Somewhere in there (if you're lucky) hope becomes something that's a bit more. You don't seem to have got the hang of when this might be, which makes you seem a bit slow. I'm not being rude - not everyone is born clever. I have accumulated my holding during the time CLNR's share price has been trading more on hope than anything else, because my experience is that people with a good track record tend not to fail. It's not to say they can't, they just usually don't. I increased my initial holding significantly when I read of Mr Dorfman's entry again when Mr Spencer joined the register, then later added a lot more shares. These are two more people with a good track record who probably know more than I do (mainly because life is like that). Then I find the OGA has awarded a tiddler, with a hand-to-mouth existence so far in regard to cash, 10 new licences - not one or two, but TEN. Why would it do this if it doesn't believe CLNR is capable of making a good fist of them? I have no idea what the future holds for CLNR or others but with a current market cap of around �13m (442m shares @ 2.9p) the market doesn't seem to attributing any value at all to any of the new licences and virtually nothing to CLNR's current plays. My premise is that the market might be missing a trick. I've dealt earlier with your comparisons between Algy and Lenigas (throat clearance going on as I write the latter name). As for Algy 'ramping' coal gasification in the NS, I read it differently - he was genuinely looking to achieve it but was prevented from doing so by much bigger forces. I am personally glad he is back in territory he knows and has a great record in. http://www.telegraph.co.uk/business/2016/12/08/government-kills-plans-burn-coal-seabed/ Your posts lack any credibility, rizalino.

Came across this one of GrayBird's investment adviser by accident............... .........https://www.youtube.com/watch?v=asgfeRXdjxc

Ron: Can you judge a man By the way he wears his hair? Can you read his mind By the clothes that he wears? Can you see a bad man By the pattern on his tie? Then Mister you're a better man than I............. https://www.youtube.com/watch?reload=9&v=-0Tn9PmFEAc