Member Info for Frazerjohn

"I've been following Jersey Oil over the last year and recently took the brave decision of investing at £2.10 a share . This share reminds me of the practice of ' pump and dump ' as seen on Wolf on wall street. Can someone explain

1. Does Jersey have any income ?
2. To get to this stage the directors have fund raised approx £40m, against a mkt cap of £55m ?
3. On very attractive salaries with very little to show for it.

I'd hate to sound negative as I'm a shareholder but the thought smoke screen and mirrors comes to light"

I wonder what genius posted that particular nugget. Or what nugget posted that gem.
931 posts later and still the quarter wit hasn't found a brain cell in her empty dome.
A mischief maker of the first order.
Imagine that being your life?
How sad.

Agree - great start and a rock solid foundation.
As they say, the next Farm In RNS will be "pure gravy"

Good RNS in my view.
Happy to keep holding.
Very pleased for AB and team - only a week out on his forecast, but I would forgive him that.
JOG has a position of strength now.
They have taken the possible now to the probable - or should that be certain in terms of GBA.
With the multiple discussions that have been going on, I wouldn't be surprised if the next farm out materialises pretty quickly - most likely already in place.
Also, future investment in producing assets may be on the not to distant horizon.
The WFT will undoubtedly have been a problem in concluding this deal.
But that problem may well now be our solution when attempting to purchase producing assets.
Finally, as to the share price - unless there was a straightforward takeover, the share price action was entirely predictable this morning..
Traders from the last week were going to cash in straight off the bat.
Some longer term holders said that they had had enough.
Each to their own and whatever works for them, well, good luck.
I think many more LTH will continue to be LTH (I was tempted to buy a few more this morning, but didn't - got enough in here as it stands).
I think we are going to do all right.

Agree completely with what you wrote, Dick.
4 options for today - RNS with deal (no); RNS with no deal (No); Ignore Us (No) ; Excuse (Yes).
As far as the excuse goes, it's good (very good).
But (there always will be till it's all signed) - we now have another date, for exclusivity. Gypsy warning - if that comes and goes, what next. Cash will be a problem, and I think it will be a fair bet that we will have more than 33 million shares in issue.
We could also have a great asset that may look as though it has some sort of a problem (you know, like a house that's been on the market too long).
Negative thoughts above, but well worth keeping in mind.
Let's hope they don't come to fruition.
As I said before, from my perspective, I haven't bought or sold any of these shares for months, just holding till the positive news comes...and I think it will...but don't want to be a thoughtless cheerleader. Be aware of the potential pitfalls.
Finally, the yo - yo of yesterday and today is entirely of our BOD's making.
No more, please.

Yippee - the property I bought on Trafalgar Square, Bond Street and Euston Station on Monopoly has increased in value. Keep trying to sell the advertising, Alexa.

Everyone entitled to their view dgdg1 which is the benefit of these discussion boards.
Personally, I'm not buying the fiscal part of it, WFT floors etc.
What has been added to the fiscal burden since 7 am on 29/11/2022?
They weren't afraid to go into print then.
Time for some explanation.
"Andrew Benitz, CEO of Jersey Oil & Gas, commented:

"We are pleased that the NSTA has agreed to extend the Second Term of the Verbier Licence in order to align it with the rest of our GBA asset base. Although multiple fiscal changes have slowed progress with closing out commercial farm-out discussions, we look forward to a successful conclusion if not by the end of the year then certainly in Q1 2023.""

I see the Alexa and Philip team are out in force.
Pinch of salt with these cretins.
James Simon has been outed for what she is - self confessed. Briggs is her other half from the same address. I see the Vampire Kitten login and password has been resurrected.
The fall today (and unfortunately tomorrow) was always going to happen if promises made aren't kept.
We'll see the cut of the CEO and his Directors tomorrow.
Will they RNS a deal (Don't think so)?
Will they ignore us (possibly, but a dreadful move)?
What will the excuse be (it better be good)?
For most of us mere mortals, we only have ourselves to answer to.
Not so for any Institutional Investors. They have bosses and Clients that need explanations and answers regarding their investments - why invest, why stick, why not sell?
Devils advocate now - we have an RNS from 29/11/2022 which (I'm sure was good intentioned) gave us two target dates - Possibly December 2022; certainly March 2023.
Both have self evidently missed (unless the Hail Mary lands tomorrow).
I wouldn't want to be one of those fund mangers explaining away losses (you were given two milestone dates and BOTH were missed, yet you stayed invested? - rather them than me). Like I said, the rest of individuals stand or fall by our own choices - I haven't sold any, nor will I - nor will I buy any more at these lower prices. Feast or famine for me).
Let's see the cut of these guys tomorrow.
They issued the RNS with the dates (which at the time, were hugely re-assuring to us).
But this is the rod they have made for their own back.
The share price is collapsing.
It's collapsing on the back of statements made by our Board.
It is up to them to address this problem and re-assure/ mitigate the damage it is now doing.
If they have any integrity, they will fess up.
If they have any ability, they will fix the problem and deliver the promised deal.
If they want to treat us and our investment with contempt, they will remain silent.
7 am tomorrow has to be RNS time - good or bad.

A day and a bit to go for Mr B.
Remember, the deal was "a certainty" by close of play tomorrow.
What are the fiscal changes (if any) that have happened since 7 am on 29/11/2022 to scupper the deal?
Being blunt, the farm out has been going on for over 2 years - nothing! (yet).
Communication over that time?
Notice of (a botched) dilution.
Statutory Financial Reports telling us how the money from said dilution is being spent.
Add- ons telling us that there is a farm out going on (like a breeze with companies falling over themselves to get involved).
A Licence Extension.
A message from our CEO telling us that everything is in the bag by 5 pm tomorrow.
I think that briefly sums it up.
Reality at the moment is.
A lot (an awful lot) of money has been spent.
We as shareholders are no further forward than where we were 2 years ago - still a 100% ownde oil company with a lot of potential but only 4 or 5 million in the bank.
A (well paid) CEO and associated Directors, whom we have trusted to take potential to reality.
As of 13.30 today, he/ they have failed.
Failed to meet their guaranteed date.
I have no problem with well paid Directors IF they deliver.
Big 24 hours for MR B (and his cohorts) reputations.
My bank balance is rooting for them, but my head is telling me we'll be getting the "Bronx Cheer" on Friday/ Monday.
How will we take anything they say seriously after this?
They look like they have been "had". Any negotiating parties will seem them as being weak or at best naive after the 29/11 RNS. Certainly not a good place to be.
Let's hope they pull the rabbit out the hat, but based on the last 24 months, you wonder if they could pull a hare out their ****.
As an aside, I have never bought into this Ithaca old pals act.
Not to say Ithaca wouldn't be involved in farm out/ JV discussions, but I have found business to be a particularly jealous place.
Staff leave to bigger and better things with all good wishes (ha ha), but their replacements, be they from within or without, like to put their own stamp on things, and that usually means rubbishing what went before with a good dose of "what did they know" thrown in for good measure.
If they were that good chums with Ithaca, they wouldn't have left.
JMO

The option of saying nothing, although possible, would really be a slap in the face.
The RNS statement was akin to saying "I'll pick you up this afternoon, possibly by 4.30 pm but certainly or definitely by 5 pm"
If there was a no show, you would be more than entitled to ask "Where were you?" and expect an answer.

Options I had were - announce deal; announce no deal; issue an excuse.
Further possibility - say absolutely nothing. End of first quarter comes and goes without a cheep from HQ.
Wouldn't surprise me one bit.

It looks like they have been offered the option to enable offshore wind energy to directly supply offshore oil and gas platforms in the Buchan area (if I'm reading the various bits of paper correctly).
https://www.crownestatescotland.com/news/intog-13-projects-selected-to-support-green-innovation-and-help-decarbonise-north-sea
Options to be offered in 2024, but they seem to have some sort of exclusivity.
Will probably feature in JOG's future (if we still exist), so may be of little significance in our current 2 week window.
Did see that Cerulean have previously partnered with PING petroleum UK, who are also operational in the Central North Sea with an Aberdeen office.
They seem to be looking to extend their 2P reserves to 100 million boe
http://www.pingpetroleum.com/assets_anasuria.php.
Their assets include 3 fields - one a 50 % interest with Hibiscus Petroleum; one non operated to the South East of Buchan; one non producing field which has Ithaca as the operator.
Ping is a 90 per cent-owned subsidiary of Dagang NeXchange Berhad (“DNeX”), a public listed company in Malaysia with pioneering expertise in eServices for Trade Facilitation, System Integration and Consultancy, Technology and Telecommunications. DNeX is also currently making its mark as a reputable player in the oil and gas, and energy sector.
Just another name to throw in the ring.

PC01
Afraid not in Aberdeen.
They say the Scots are mean, but Aberdonians are as tight as paper on the wall.
However, Yorkshire folk make Aberdonians look like Santa Claus in my experience.
Long way of saying none of them have ever bought me a drink!!
Hope the doorman wasn't the bloke at the local dole office or credit union!!

Yes and we have all been counting on £43 per share.
Anything less is a failure.
This figure and it's workings have been discussed many times, and nobody, not even Dick who calculated that number, remotely expects us to come close to it.
Have another go JB, James Simon, Alexa and Philip - or whoever you are today/ this minute.

From the CEO and Chairman Report 0f 22/09/22
"As previously highlighted, since launching the farm-out process, a broad range of competing development solutions has been generated to supplement the initial work on the proposed installation of a new processing platform. The alternative solutions include tiebacks to existing platforms and the re-use of available floating production, storage and offloading ("FPSO") vessels."
The wording of the RNS is very positive with what looks like multiple solutions/ and parties.
Hopefully the due diligence that was supposedly completed by end October 2022 narrowed everything down.
Possible worries looking at that in hindsight? "Too many cooks..." or "can't see the woods for the trees.."
Good news is that there appear to be options.
Also from that report (and not the general health warning at the end of most RNS issues).
"Whilst there can be no certainty of a successful conclusion, constructive commercial discussions are also now well underway."
Fast forward to 29/11/2022 and we have our CEO saying that there is certainty in Q1.
Cash burn isn't an issue (yet) but worth keeping an eye on.
We had £8.7 million in the bank at end of June, with a cash burn less than £1.5 million per quarter.
Three quarters have now passed, so fair guess that £ 4million has been spent leaving £4.5 -4.7 million in the coffers.
No panic yet, but don't dismiss it if this runs a couple of more months with nothing agreed.

One thing I may add, the delay thus far may have been a blessing in disguise for me.
I would have probably bought into the following shares with any gains from the JOG deal.
Longboat Energy - liked the Management from Faroe - price roughly 80 p, now trading at 8.5p.
Pantheon Resources - looked at them at 80 p - then went to 120 p roughly - now trading around 25 p.
Orcadian Energy - looked at them about 28 p - now trading at 8 p.
Serica - did okay out of them over time, but would probably have bought in around high 200's - 280 - 290 p - now 220 p.
In short, I've probably been quite lucky.
Also, I am absolutely hopeless at picking winners!!.
Hopefully, JOG bucks that trend.

Re-post of a message from February - still holds true. So does my shareholding - maybe more fool me!
Certainly meaning.
"without doubt"
Certainly usually means 'without doubt' or 'definitely', and is used to show that you strongly believe something or to emphasize that something is really true

If you believe JAB, 6 days till a deal and a possible (double your money plus, hopefully).
If you don't. 6 days to jump and stop a possible 50% drop on your present investment value).
LTH - can't see any jumping after all this time.
Newbies, gamblers, how lucky do they feel? Could be quite a big buck payback in a short space of time.
OR JAB could be working on his "Excuse" RNS - would need yo be a good one.
Credibility on the line and the humble pie section in the local ALDI could be set to do a roaring trade.

Dick
Saw the Repsol website Buchan page a few months ago and wondered why it was still showing.
At the time, my take on it was like alsoppc's - they just hadn't bothered to update it.
But, who knows?

"I will come clean the negativity gives me the opportunity to buy on the lows . I think I’ve reached my limit now".
Like we didn't know this from day 1.
The 700 plus posts are all negative.
An attempt at market manipulation, admitted from your own post.
One of humanity's lowlifes.
Briggs is the same person.
Battery, not sure, but if I've got you wrong, then I do apologise.
As for the advisors comment, it related to JOG's advisers. You know, the ones listed in the RNS.
They are there and paid for a reason, so I can't believe the RNS of 29/11 didn't go before their eyes prior to issue.
People can "talk the talk", but can they "walk the walk" as the saying goes.
End of first quarter is fast approaching, the date on which some folk's credibility will be tested. Will it pass or fail?
I hope for a big success and for Andrew and the team to wallow in glory.
I think they have achieved a massive amount in their time.
Huge, and I can quite genuinely say I hope they succeed for their own financial gain (as well as mine) but also for the satisfaction in achieving all that they have with JOG and bringing the business to production, which will have it's own rewards for them, not just financial, but as a business challenge.
This is business. Any criticism that comes from me to Directors will be from a business perspective, not personal.
As for the R.Swipe that is/are James Simon, life can't be cruel enough to you.

dgdg1
Correct.
One year we've had to put up with his/ her garbage (and their other aliases).
If anyone could be bothered to re-read the guff in his last million posts, you will see nothing positive, if not negative, there is a hint of some trouble, whether it be someone selling, salaries, you name it.
All regular and genuine posters have got their number for what they are, but it's worthwhile having reminders for any poor soul dropping in on the board and believes them to be knowledgeable or in any way genuine people.
They would be poor souls to invest on the basis of BB comments, but these folk do exist - perhaps a better terminology would be to punt rather than invest.
Alex, Philip (James, Briggs, Battery) have been rumbled long ago.