Member Info for dickupham

yes, nttg - although it may not seem as if there's a lot happening, my guess is there's a great deal going on behind the scenes in preparation for the summer appraisal drill. JOG isn't a showy company and doesn't tend to over-hype expectations. It was a close call on the Verbier drill, but I decided to forgive the chaps given the result of the sidetrack. They did the opposite of build expectations after the the first drill encountered water instead of oil last autumn, but it turned out Statoil had only been joking. hose Norwegians have a cracking sense of humour. I've now made a spirited recovery from the neurosis that followed sight of that RNS of 11 Sept 2018 (JOG's 9/11). I doubt I'd survive another however and have dropped all parties a line to this effect. I very much hope the RNS saying the appraisal's been completed will go something like: "It's all done and dusted. Seems like we missed a nought off those estimated numbers - sorry about that". Just coming, nurse........................

"Anybody who doesn't see the significance of the collapse of 180p support here is disingenious"............ ..........I don't do market technicals, eldorado - does this make me disingenuous? To me the price is the price. MMs offer what's necessary to keep their books more or less in balance whether it's 180p or some other number the price hasn't been lower than for a while. Sometimes they play tricks to generate volume - today, for instance, buys marginally exceeded sells which should not have resulted in the price falling 3%. Maybe MMs are sitting on sell orders down to 175p or even lower? Anything is possible - there is more than one possible explanation for the weak price. If there's a seller causing an overhang, it might simply be that he or she needs the cash, or has perhaps carelessly died whilst not concentrating and his (or her) executors are cashing up. JOG is a news driven share and short-term holders who don't see the fundamentals (and possibly wouldn't understand them if they did) can get easily bored. It happens all the time, not just to JOG. If positive news is released there might be resistance at all kinds of perceived levels on the way up, but that won't mean much either in the scramble to get hold of shares people like me will be reluctant to sell. Everything does, however, have a price, bt mine's a great deal higher than where it's presently sitting. As you'll gather, I'm in for the longer term although not forever. I'll be 28 next birthday and could soon need some money for a deposit on a static caravan in (or near) West Bromwich, which is an area I like a great deal. I prefer it when JOG's share price is strong but don't mind too much waiting for the hoped-for rewards, as long as I am confident that what I and other shareholders are being told about the general state of affairs and future strategy is true. Good luck, whatever your position and outlook. And age and aspirations.

computer playing up - the last one sent itself for some reason.......... .........To put it another way, the "don't knows and don't understands" set short-term share prices. In the case of JOG there seems to have been a seller keeping the market supplied and this has added to the negativity. Try to stay patient - the rewards should come in time. Hope so anyway or I'll be spending the rest of my life shelf-stacking in Morrisons. GLA

You and others shouldn't be investing in oil companies if you expect things to happen every five minutes. It is clear to anyone who cares to read about it what is happening with Verbier. An appraisal well is being planned by the operator (working in collaboration with its junior partners, one of which is JOG) and the drilling (we are told) will start in the summer. The operator, Statoil, is one of the biggest and most respected oil companies in the world and I'm happy with that. What a lot of short term speculators thing of the absence of hard news is of no consequence. I am pretty sure JOG and partners expect the appraisal well to confirm oil in Verbier at the higher end of the estimated range - 25MMboe was confirmed in the immediate vicinity of the well-bore. Most people probably doubt it stopped in a straight line immediately beyond the range of the side track drill tip. WDIK? There'll be enough demand for the shares when news does start to flow (assuming it's not that it was all a big mistake and there isn't any oil there after all). I have retained my entire holding in anticipation of much higher prices. IMV JOG's value, as reflected by the short-term share price, is fundamentally undervalued on all recognised measures of worth. This is no real surprise because short term share prices (longer term ones as well, although there are subtle differences) are driven by short term traders and their understanding of the fundamentals is generally likely to be minimal. To put it another way, the ;don't know

Phoebus - you can send a message via the website: https://www.jerseyoilandgas.com/contact/

I blame spring fever

http://www.hl.co.uk/shares/stock-market-news/aim-and-small-cap-news/aim-bulletin/jersey-oil-and-gas-shares-jump-as-new-well-drilling-agreed "........"Confirmation of this contract at competitive market rates is in line with our previously announced Capex expectations for 2018 and this appraisal campaign will help determine the potential of our exciting Verbier discovery. In parallel with the appraisal well programme on Verbier, we are continuing our exploration activities to fully evaluate the remaining prospectivity of the P.2170 licence area," said Benitz. Jersey is targeting working interests in six to ten producing fields and plans to construct this portfolio "via acquisitions coinciding with the cyclical recovery in the oil price and the current opportune buying market in the North Sea.".........." .............it would be encouraging to learn sooner rather than later that JOG has managed to capitalise on the "current opportune buying market in the North Sea". Maybe RNSs would then start to behave like buses? We live in hope (presently buried in snow). In the meantime we have the summer to look forward to. They should at least know where to aim the drill........... �43 soon.

........jmofwiw: just my opinion, for what it's worth ........foiydli: F off if you don't like it I was known as 'Mr Polite' by my friends (when I had some)

.....sorry - 'bear' (cubbord)

After yesterday's news that the cupboard is bare and the share price halving from 3p to 1.5p, at the latter price of 1.5p UKOG is still valued by the market at 50% more than JOG (�55m UKOG - �38m JOG). JOG is sitting on �25m of cash, plus however many millions of barrels are found to be in Verbier and across the rest of the P2170 licence. JOG is a long way down the road towards acquiring producing interests that will provide profits and cash flow and has the funding arranged to achieve its immediate plans. It has competent and experienced management and a committed team, all of whom have money invested in the Company. Joey - remind me to chastise Andrew Benitz for not spitting out dozens of RNSs, costing the company tens of thousands that are designed to lift JOG's share price so that: (a) you don't get bored and (b) you can sell at a profit and build your position in that equally good (in your opinion - do you charge?) prospect UKOG. We live in strange times jmofwiw - foiydli

People seem to be focusing only on Licence P2170. Is it the general consensus that JOG's longer term aim is now to be an explorer? That was certainly not its stated raison aim at the outset and JOG's CEO is still saying they're still working hard on finding the right opportunities. Unfortunately despite everyone's apparent best efforts, the prizes have eluded JOG. Not so in some other companies however, I'm pleased to say (SQZ in particular). Mr Craven Walker and co showed what can be achieved - the deal he pulled of with BP was a total game changer and propelled SQZ into a new league at a stroke - the share price quadrupled. It would be too much to expect JOG to do a similar deal, but it seems more likely than not to me that at some stage this year JOG WILL actually be able to sign off on a deal and when it does it will be a value enhancing one. I've given my crystal ball a jolly good shine but I still can't see things totally clearly. Guess we just have to wait. Yawn. When JOG reversed into TRAP, my take is that not much was known about P2170. Much more was made about Romeo and others and P2170 (then known as Cortina) wasn't mentioned. JOG discovered reasonably quickly, however, that it had a potentially very exciting prospect on its hands. P2170 had been secured by Messrs Groves-Gidney and Collins, TRAP's two key directors just before they got their marching orders from the so-called 'value-investor', acting imo way beyond his station. It's all history now but it stank at the time - I'm glad he's gone. I just wish a couple of other yes-men he got to do his bidding had gone with him. I'm pretty sure JOG now see Verbier as having too much potential upside not to have it fully appraised. When it has been (plus Cortina and Meribel - and unevaluated potential across the rest of the licence) there should be time to consider what next. It will take a long time and a lot of money to take Verbier and potentially the other prospects to production - my vote would go to selling the 18% of p2170 post full appraisal and use the funds to grow the production portfolio. WDIK? It's not up to me ad I wouldn't urge anyone to take the slightest bit of notice of anything I have to offer as I'm known to be a bit thick. So, to recap, JOG's declared aim has always been to become a producer by acquiring non-operated interests in later life UKCS fields with good tie back arrangements and no, or limited, decommissioning liabilities. JOG continues to state that it has agreed 'in principle' facilities set up with a major bank to provide funds to help acquire the interests it seeks. If JOG could get to 10kbpd of production with 20MMboe of reserves, the profits and cash it would generate with its low overheads set-up - at an oil price of $60 or higher - would justify a market cap a long way ahead of what people are talking about presently. Haven't checked for typos - sorry if it doesn't make sense JMO fwiw wtfdikaa

PTLP - Re UKOG - I wouldn't touch it with a barge pole. Where do you want me to start?The near 4bn shares already issued? Its �114m market cap when it hasn't got any oil to speak of and no money to do anything unless it issues even more shares? Would I trust the directors? UKOG's directors took more than �1m last year when the company's been issuing shares like confetti, diluting shareholders who have been offered nothing but hope. Sanderson is one of the owners of Horse Hill Developments (HHD), which isn't listed. UKOG and others concentrating on the Weald Basin seem to pay HHD for assets implied to have huge value, but so far there's not much evidence to support the notion. I doubt shareholders are the ones who'll get rich on the back of UKOG unless they trade the spikes and dips successfully. All just my opinion - I don't say I'm right. Ref JOG, I'm now pretty sure the feeling in the camp is that JOG might be sitting on reserves in Verbier towards the top end of estimates and are intent on contributing their share of appraisal costs to find out definitively. Statoil must rate it the appraisal well is being drilled in the summer. I still can't see JOG holding onto its stake in P2170 much beyond full appraisal. It just doesn't make sense (to me at least) for reasons already discussed. Short term there's not much to get excited about - the price is likely to follow daily volume - people have low patience thresholds and don't look at much except the price. As a general observation and without wishing to cause offence, I find it bit odd that the stark differences between JOG and companies like UKOG aren't immediately obvious to anyone with any experience and understanding. Ref UKOG - of course nothing is impossible. Foinavon won the Grand National at 100/1 - but at least punters knew it was a horse. GL

Judge-mental - why do you bother? I think most people have used the filter on him (or maybe they just ignore him). It is frustrating for those who have applied the filter to be reminded he's still pumping his drivel. No-one can legitimately object to people having opinions that differ to their own, but this character has an agenda. There is no substance to any of his posts so, quite simply, they aren't worth reading. Judging by the vastly differing style of the language he uses (from pidgin to relatively normal English, it seems reasonably clear he is a fake who is intent on causing JOG harm. There are any number of examples of AIM company share prices being unrelated to underlying value. The skill lies in investing in those companies the market undervalues significantly based on all reasonable assumptions. Share prices reflect only present supply and demand for the shares. There have been sellers (maybe a single one) around recently - not quite sure why; individual circumstances, level of patience and risk acceptance is different. I doubt the established holders are moving.significantly one way or the other. Patience continues to be the order of the day but some people's will start being seriously tested eventually if there continues to be no tangible progress in acquiring producing interests. In the meantime, everything rests on a successful appraisal of Verbier, the results of which won't be published until Q3 - perhaps Q4, based on what we've most recently been told. Back to sleep.

Malcy's 2018 Bucket List should be announced shortly. Might spark more interest in the shares as he's already said JOG will be staying on the list: Malcy says: 2 February 2018 at 2:27 pm Thanks very much Marcus. Been very busy as you know but list should be out next week. Kind regards Malcy

Herron - JOG's declared aim has always been to acquire non-operated interests in late life producing fields with good tie-back arrangements in place and no decommissioning liabilities (they're not asking much!!). So far they haven't managed to buy any - hope springs eternal. The kind of opportunities they're looking for will probably be offered for sale by much bigger outfits which have overhead structures in place that make it impossible for them to make much because all costs are factored into the ppb it costs to get the oil to market. JOG operates with very low overheads, meaning that what's not that profitable to much bigger outfits could be much more so in the hands of JOG as owner (but not operator). You'll get the drift. The tax losses are an added bonus. The trouble with not making such additions to assets is that JOG is otherwise a one trick pony, with its future in the hands of Statoil. Things should become clearer in time. I'm going to give it plenty of time so won't be making any decisions until late tomorrow :-) It's one of the problems having shares in oil companies - everything takes forever.

Herron - AB talked about this - you're making definitive statements that aren't necessarily accurate. Planned Capex for 2018 is �9m-�11m and the estimated cost of an exploratory drill of Cortina (in 2019, maybe later?) is a further �6m. This still leaves �8m in the bank. JOG's annual overhead spend is about �1.5m. AB says the relationship they have with a major bank, which has in principle agreed to lend on a RBL basis for JOG to buy the right producing assets, is an excellent one and goes on the say that whilst JOG would never consider funding exploration with borrowed money, he and they see nothing wrong in borrowing prudently to acquire cash producing assets. I concur. As an observation, at JOG's present SP (180p) the market is valuing cash as it stands (can't really dispute it) at �25m, all JOG's oil in Licence P2170 (Verbier, Cortina, Meribel and across the licence) at �12m and the rest at nothing. Makes sense....................... "The patient shall inherit the bank"....................

No, grewber - I'm still holding. If I didn't comment on the CEO i/v it was because there wasn't really anything new discussed (this isn't a criticism). I made a post on iii (as eagle51) the other night which sums up the situation as I currently see it. Don't know if I'm allowed to link it but I'll try. http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn:JOG.L&it=le&action=detail&id=12270085

Keep chilled, Joey. Things rarely happen in timescales that suit us - no doubt much work is going on behind the scenes. News?? Of what? I doubt we'll hear much about Verbier until the rig is booked but wdik? Maybe we'll get news of production acquired. JOG's been looking at 3 recently according to the CEO when he was talking to Malcy a week or so ago. Doesn't time fly. Where's Malcy's 2018 bucket list? He's late. Back to sleep.

nttg - I think Kenco's point is a fair enough one to make given all the cash from the placing and offer remains in the bank. If the cash is excluded, JOG's mcap is below the level it was before it was known if there was any oil in Verbier. Probably says more about AIM and whose actions influence share prices than anything else. The 'don't knows and have no patience-es' determine the price - short term at least. Fundamentals usually win in the end. Let's hope these turn up in spades where JOG is concerned. I'm not criticising short term traders btw - just observing. I agree with Rovers66's recent assessment that the most likely route JOG will take from here is to fully appraise the fields making up P2170, then maybe consider exit to free up funds to acquire producing interests in line with their declared longer term strategy. This suggests to me they like the chances of Verbier coming out at the higher end of initial estimates, plus whatever this implies for Cortina and Meribel. It is disappointing not to have managed to date to acquire anything producing cash, but this is unlikely to be through lack of effort or ability on the part of JOG's team. Aspirations were probably set a bit too high at the outset given the shortage of cash resources. Producing interests of the kind JOG has said it is looking for may not be as plentiful as was mooted, but something will eventually come along I expect (hope so anyway - sooner rather than later). JOG being in a much stronger financial position should make things a lot easier. Glass half full today. Even though I've already got too many, I might buy a few more at 99p :-)

PS - thanks for the report on proceedings today h_h - it was very well put. GL PS Mesquida - Statoil are outlining their plans for 2018 to their investors on 7th Feb I think - it's on their website. I posted a link either yesterday or on Tuesday