Member Info for Didas

I have been looking back at charts. It has been three years since JOG peaked at 332p and five years ago we were at 151p and today we are at a miserable 85p.

The recent update has not supported the price. For those of us who have held for many years, it has been money locked in and most of us are likely sitting on losses. Both current and previous governments have caused great uncertainty and their own ideologies and fear of losing their privileged positions, rather than economic benefits to the UK and domestic sustainability, has meant that O&G investors are sitting on their hands in the NS and prioritising extraction elsewhere.

It would be good to hear what NEO+ has to say as the major operator. How high a priority is Buchan in their plans? Exactly what time schedule are we looking at for FDP approval and FID. How dependent is it on any adjustment to the tax issue?

I imagine that JOG Board is totally hand tied and hence have been reducing their cost base. However, all these years later, a market capitalisation of only £28m, no income and a bank balance diminishing every year.

We seem to be a one trick pony and I cannot see any foray into other producing activities would be possible given our balance sheet.

Apologies if i am sounding depressed!

"This government has set out a plan to build a prosperous and sustainable future for the North Sea, backed by record investment to grow clean energy industries, support the management of existing oil and gas fields for their lifespan, and help North Sea workers make the transition."

Surely, the proof is in the pudding ie amount of job losses, and NS investment being stalled. Who knows what NEO, Serica will decide and how this will impact JOG, but share drop of 30% since Budget is not encouraging. To think JOG is capitalised at just £31m.

It is painful for LTH's to witness this constant negative scenario.

JOG needs to pull something out of the bag, even if it is to sell to any reasonable bidder.

There must be an overhang of shares being sold for the continuous fall followed by a burst of buys seemingly taking them up. We can only wait for the seller to finish.

Surely there are big international buyers out there wanting to get a share of the potential.

Dick, When will you be visiting the island?

DU: Next time you are over, contact me. I think you were in St Brelade's Bay, either Beau Rivage or Hotel L'Horizon?

Interesting activity elsewhere in NS

Exclusivity Agreement for a potential transformational combination with Eni S.p.A.'s UK Business

Ithaca Energy, a leading independent oil and gas operator in the UK North Sea, today announces that it has entered into an exclusivity agreement (the "Exclusivity Agreement") in relation to a potential transformational combination with substantially all of Eni S.p.A.'s ("Eni") UK upstream assets including the recently acquired Neptune Energy assets, excluding certain assets including Eni's CCUS and Irish sea assets (the "Potential Combination").

Hoping for an announcement this week re Serica deal.

Four Serica directors bought over 200,000 shares between them earlier this month.

I wonder if buy talks are going on behind the scenes?

Fingers crossed for us ever patient holders.

!!!

I will take great comfort from that!

So disappointing to see under 190. I am in fear of shareholders getting impatient that the fruits will not arrive for a couple of years and so come back later .

They need to give us something to keep us long term shareholders in. We don’t have the benefit of JOG salaries or options.

Well, that's a start. How about Graham showing some confidence?! Les, perhaps a top up would give us all more reassurance please.

DU

Would not 6 x annual income be reasonable , so around £19 per share as a starting point?

I just cannot see the directors and major shareholders taking less on a takeover

Congratulations to Andrew and everyone at JOG on a brilliant second farm out. You have delivered on your promises.

A very exciting time ahead. I await with interest and hope regarding editorial coverage and new investor interest.

I have been in since 2915 and built up steadily , always having faith .

Really pleased for long term holders and JOG team.

Great news. I think FO is imminent.

Well done AB and all the team.

Nice to see some blue at last. I am hoping for news this month, probably arrive at 0700 on a Monday morning!

Sorry, Dick, I did not see your message when I posted.

As far as I can make out NEO are up for a potential license at 30/13b which may be near current ones held. Shell, Ithaca and Eni are up for other fields nearby. See NSTA 33rd round Central North Sea.

Andrew Benitz, CEO of Jersey Oil & Gas, commented:

"We are delighted to have completed the farm-out transaction and to be swiftly moving forwards with finalisation of the GBA development solution. With the route and the funding secured for preparation of the Buchan Field Development Plan, our attention now turns to unlocking further value by securing an additional GBA partner ahead of FDP approval and retaining a fully carried 20-25% interest in the development programme.

Now four months on from this announcement.

Small sellers will be people who need to release some cash and this will rise as we approach Christmas. I hope that second farm out news is imminent. It would be a shame for loyal long term holders to miss out on the rise that news should bring.

Ithaca to buy remaining 30% in Cambo. Is that a good sign for JOG or not?

Hopefully JOG will make a positive announcement just before, or at the time of the results this month.

It remains to be seen if they still seek a second farm in and free carry of 20-25%, or whether they negotiate an outright sale.

GLA

Sadly politics seems to go against common sense and economics.

Just wish some politicians had more spine and conviction.

A second farm out that provides a free participation in future extraction of about 20% or a complete sell out for a quicker return?

What do you think they are discussing?

Thoughts anyone?