Member Info for fairdealer20

The important words issued with the Interim Results and Trading Statement on 20th September are as follows:-<br /><br />"..... and we will notify of any change to current guidance on timing if and when advised of such by Equinor, in its capacity as operator of the drilling programme."<br /><br />Investors should be aware JOG as a Junior partner are not in control and the Industry is frought with unknowns over which even Mega Operators have little control. <br />Whether any of us like it or not that is the nature of the business sector within which we are invested.<br /><br />As always PATIENCE is required.

Statement issued with the Annual results in September:-

"The Verbier appraisal well programme is part of a larger Equinor operated drilling campaign and, further to a change in the scheduled drilling order, JOG currently expects Verbier to be drilled in mid to late Q4 2018. This change in the order of the Verbier well slot, to later in the year than originally envisaged, has had a negative impact on the Company's share price. However, in our view, the delay is not material and we look forward to getting started on this campaign. We are pleased to note that operations will commence imminently on the first well in Equinor's drilling campaign. As previously stated Equinor has three wells to drill before drilling Verbier (the Ragnfrid North prospect in the Norwegian sector and the Bigfoot and Pip prospects in the UK sector) and we will notify of any change to current guidance on timing if and when advised of such by Equinor, in its capacity as operator of the drilling programme."

Some facts to remember and help form opinions as too speed of results.

Original Verbier drill started mid-August 2017
Failed results announced 1 month later.
Successful side-track drill took 3 weeks and assessment of field reserve announced immediately ( 9th October).

A 3D seismic survey was completed in June 2018 and the data will be used to further identify the extent of the Field and one assumes the ideal spot to drill.

Against this back ground it is reasonable to believe drill results will be announced promptly. Remembering Schroders etc will be keen to know after the unplanned delay.

Seem to be in and out like a Yo yo. Any ideas?

Murray thanks. He(GB) does attract attention. He must be charismatic.

Murray not my comment. Am quite sure the Rig operator will not want any shutdown as they are already up against a tight drilling schedule.
Believe GB is the Operations expert and usually visits Aberdeen and reports shut-downs!!!

So late (Jan), what a pity. Always best to get straight from the Horse's Mouth. Ah well just wait then.

What position are you taking up in Helsinki?

Now you (GB) are working near Bergen and as stated a few days ago,a visit to Equinor HQ may shed some light

. Did you get any further info from the the Project Manager?

Did AB mention 12th December? IF not what is the significance of this date?

I have virtually given up contributing too this BB, but when I read such illogical rubbish, it deserves a reply.
Reading " I don't care if the SP goes up or down", really wonder why the poster bothers to make any contributions to this board, or indeed invests at all.
English is one thing but to make statements which are either speculation or pure de-ramping designed for one purpose which most experienced Investors will see through and Novices should completely ignore.
As with any investment DYOR before committing.

This news was known 2 months ago which just goes to show Financial Analysts can be behind the times. Even so Marstons have dependable Maltsters which gives them an edge.

JC it is likely HL are holding in Trustee Accounts, even so there is less than 50% of the stock in PI's hands or just over 10m, not many in the great scheme of things which augurs well for the future; imo.

Abatt glad someone can as they are hard to understand. He wavers between plumbing lows and expected highs(SP), some thing of an enigma!

....sorry what is rude?

GB what is your investing strategy? Your posts are inconsistent symptomatic of a Trader and not a committed investor in JOG.

If , as you state, the potential upside for the SP is diminishing why, if not a Trader, are you still interested in JOG?

Surely the point is with the ever increasing Oil price the value of late life producing assets become more and more marginal ( risky) to contribute reasonable returns to shareholders. Any fund raising to acquire such assets at this time will obviously dilute the existing asset value, something major Shareholders would consider with caution. Not sure if the Articles of Association allow the BOD to issue additional shares without the agreement of existing Investors. It would be usual the BOD have authority to issue up to a given level without reference to Shareholders. This being the case it is extremely doubtful adequate funds could be raised.

That said and the fact AB has stated he does not wish to see any dilution, should make PI's confident NO additional share placing is planned.

Good morning Dick..... you're quite right. Wanted others to form their own opinions by research!

Is the rainy season over. The mud-hut would be most uncomfortable otherwise? Are you prospecting for Mr Lenigas, believe he has interests in that part of the Globe?

He was a very frequent poster several months ago, often ramping.

"Scaremongering, gossip + BS, about sums it up"

Before making such scurillous remarks, knowledge would be enhanced if factual statements, and documents released not only by JOG but Equinor, Seadrill and evidence within the public domain is viewed . Put all the pieces together and maybe the picture will be clearer
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There were several here a month or so ago who were equally uncertain regarding timelines set for the WHOLE drilling programme contracted to West Pheonix. Do you seriously believe it wrong for shareholders to ask questions?

Serious investors are those who take an interest in their Company,and holding Directors too account.
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Hope that helps.

zebbo suggest you reflect on those cheap throw-away comments, which have no substance or any meaningful facts, whereas contributions, here, by some have been well researched contain valid information available for anyone, who is a serious investor.

Unlike Casino players, committed long term investors, research not only the subject Company but those closely associated.