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Slipanchor
Interesting to note that PS has come direct from Glen Lyon where she appeared to be hooked up. Currrent reported draught 9.4m. She is due in Rotterdam on the 15th so she could be waiting a day or two before hooking up. My guess would be around 400k (32 X 12.5) and in line with guidance.

Unlike yesterday were the mm’s wacked the sp up to 250p on open with the resulting wain today's steady rise has been sustained and is thus very encouraging and evidence that the claimed catalysts are having an effect. Looking forward to the farm out sale announcement.

MP0818
Your choice of farmout deal is far from ideal. Rockhopper tied themselves to Premier who were incumbered with so much debt that when the oil price went down Premier could not fund the development. JOG needs a partner or partners who have the cash to enable development to proceed immediately so that they do not become another RKH. I sure the JOG management realise the pitfalls of choosing the wrong partner.

Having declared February 2021 for the Concept Select report as a near term catalyst am I the only one surprised, if not somewhat disappointed that the date has not been met. Also surprised it has not been commented on here.
I’m assuming they will have it out before the Proactive investors event on the 18th.

CaptainSwag

My comment was intended as a response to your implied suggestion that dilution is a probability.
Of course there is no certainty over the future oil price but at this moment in time things are certainly looking better than they were in December and poo remains on an upward trajectory. I’m not claiming the risk of dilution has vanished but you cannot deny that the improving oil price has altered the degree to which dilution can be perceived as a risk at this point in time.
We also have 17 months to go before the CB’s are due and it would be utter stupidity to fund raise now at the current sp. IMO the main issue is the outcome of the stakeholder consultation and whether this will restrict or delay the company’s plans to maintain, and or improve production rates.

Captain Swag

Assuming continued production at 12k bopd the $15 increase in poo since the December RNS will itself produce an extra $103m for the period 2021 through to redemption. This also assumes there will be no further rise in poo.
Whilst at the time of the RNS dilution was at least a possibility, if not a probability I think it is reasonable to assume that it is now an unlikely possibility.
Clearly it all depends on the ability to continue to produce at the current rate and without any significant increase in water cut but IMO future prospects are looking much better now than they were in December.

Captain S
OK they may not bother with the tiddlers but they did successfully prosecute Paul Coyle for the Morrisons/Ocado deal.

Thank you for the confirmation.

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poortiming

This is from the RNS 26.01.2021:
“Having selected our preferred development concept for the GBA hub development, management is now finalising the Concept Select report and economics for submission to the OGA ("Oil and Gas Authority") with the aim of commencing FEED in Q3 2021”
Given the timescale I have drawn the conclusion that the Concept Select announcement when made will not include OGA approval. I am also of the view that the company will be working hand in hand with the OGA and hopefully approval should not be problematic
I am hoping that the announcement will also say something more on the next stage namely the “Sales process launch”

Slift
The put option (hedging) cost $3.4m and provided the security of a minimum $35 per barrel for H2 20. In the event it was not needed but IMO the board did the right thing There was no knowing whether poo would continue to rise and had it fallen again that put would have made the difference between survival or bankruptcy.
But you know that.

I noticed that trade and you have to ask were was all the selling that has pushed the closing price back down to £2.50.
I'm not one to bleat on about mm's but there does seem to be some thing odd going on.

All we need now is the BOD to put out an RNS saying they have no explanation for the rising SP.

$65 by the next lift

10% per day will do me fine.

poortiming
Thanks for the link.

Near term catalysts as advised in the last presentation were Concept Select report in February and Sales process launch in March. I would be interested to hear any views on what sort of detail is likely to be include in the Concept Select report and will it include cost estimates. The most pertinent question is the market expectation and whether the report will excite further interest.
I’m not a regular poster on this board but I have been a holder for 4 years.

ETA at berth is 15.00h tomorrow. Anyone who wants to see watch on:
https://webcam-hoekvanholland.nl/pages/cameras/waterweg-ingang.php
or
https://fotopaulmartens.netcam.nl/breeddiep2.php

MrWilks
As far as I am aware HUR have never disclosed the precise form of the pricing agreement with BP other than it is based on the Brent price around the time of the lift. Obviously it will be at some discount.

Thanks Lonestag
Note that they have contracted Paul B. Loyd, Jr. and the question is will they be keeping her on for Lancaster.