Member Info for Frazerjohn

Has Walter Mitty/ Billy Liar bought another million has he?
Soon have completed his takeover of the Company.
Erse.

Great to hear that this board's resident Walter Mitty/ Mischief Maker now holds some 500,000 shares.
And the band played believe it if you like....

Interesting read Dick.
You wonder if the so called brains that are in charge of our country (was going to say lead, but that would be completely wrong) realise that 40% of "something" is better than 75% of "nothing".
I doubt that they do - 75% sounds like a lot instead of 40% to the dim witted.

Still think we should hold by the Company's stated timeline of completing the Farm out by December 2022.
However, with such a multi million (billion) deal and transaction, it would be no surprise if things slip, due to any number of factors and commercial issues.
On reviewing the NSTA website, I noticed an updated Form of Guidance relating to Disputes relating to third party access to existing infrastructure - https://www.nstauthority.co.uk/media/8509/final-updated-tpa-guidance-7-nov-22.pdf
Very probably just coincidence that it is updated on 10th November this year, but it could be pertinent to JOG and may have been re-issued with clarifications as a result of possible issues in the Central North Sea. Who knows?!
The timelines for dispute resolution look pretty clear and not overly time consuming (set working dates are stated for various actions to be undertaken, with on overall resolution period of a total of 16 weeks from initial notification, although it implies that a nod as to the outcome will be given before that). Mainly covers cost, but also proposed capacity of a third part access to existing infrastructure. It also looks as thought the NSTA are the final adjudicators, but again, in this litigious world, who knows if that is the case?!
May have nothing to do with JOG in terms of a dispute, but will have been hurdles that have had to be cleared and discussed within any commercial discussions.
Worth a read.

Not really - he's just a weapons grade bell-end

Personally, I don't want to see another RNS from the Company unless it reads Farm Out Terms Agreed/ Concluded/ Company received offer.
Any RNS that doesn't have that type of wording will cause the share price to fall pretty significantly.

If this comes good (fingers crossed), who will reinvest any of their cash into the shares of North Sea Oil Companies? (Not me).

From BBC website - says no windfall tax but "The Energy Profits Levy introduced by the government is also expected to increase from 25% to 35%" until 2028 now. Not great news.
https://www.bbc.co.uk/news/uk-63599465

Wonder the possibility of a hostile bid.
Multiple parties involved apparently.
Due diligence by October.
JOG pursue a farm in route.
One of the multiple parties is rejected/ thinks the proposed plan is too complex/ too many stakeholders..
Decide to go on their own with a cash offer to the existing shareholders.

I think by the end of 2025 none of the so called Leaders of any of the main political parties will still be in place by the end of 2025, and I also suspect that their replacements will all have a similar political compass that points them to tomorrow's front page headlines.
No vision. No conviction. No spine. Just populism and survival.
My hope (perhaps forlorn?) for JOG is that the Farm Down works are soo far advanced that the economics of the Buchan Field still hold good (30 year life cycles will have lots of ups and downs, as well as the moments of self harm we have seen this week).
I hope it comes soon, because I'm getting pretty weary. Nonetheless, I've stuck it thus far, so will most likely be here till the bitter end (whatever that entails).
Good luck to all.

A one page explanatory note on the levy from some legal folk.
https://www.cms-lawnow.com/ealerts/2022/05/new-oil-and-gas-windfall-tax-introduced
Difficult to trust politicians at any level.
The "return to normal levels" is a good one.
What is that figure or range?
Sunset Clause of end December 2025- from a stand alone Buchan Development point of view, the field isn't due to start producing until roughly that time, so taken at face value (and ignoring the macro position Dick correctly alludes to) shouldn't in itself greatly alter the forecasts.
But we are dealing with politicians who stated a Windfall Tax wouldn't be brought in, only a matter of weeks later to introduce one.
Similarly, it would therefore be of no surprise if the sunset clause was torn up, or reinstated at end December 2025.
Only certainties in life are taxes and lying politicians.

Sky News
Sunak's "investment allowance", ensuring that for every pound companies invest in the UK, they will get 90% back in tax relief.
Sounds pretty good for JOG, although any additional tax on oil and gas is generally bad news for the North Sea.
The big guys (Shell & BP) Share Price don't seem to have been bothered by the announcement. Wee guys like Serica, unfortunately, seem to be getting clobbered.

"Farm-out to established industry player is key next step to unlock major shareholder value"
I think we all knew that the farm out is "key", but why use "established"?
Any clues from the Infrastructure diagram?
Ithaca are shown (as are Total) but they would appear to be some 150 km away from Buchan with no obvious infrastructure works detailed on the diagram.

Not much new, although in terms of Development Solutions "Technical screening of options completed– confirmatory diligence on-going" - hopefully means we're a bit further down the road, and the Farm Down being completed in 2022 is more likely.

2022 AGM Corporate Presentation from JOG Website
https://wp-jerseyoilandgas-2020.s3.eu-west-2.amazonaws.com/media/2022/05/JOG-Corporate-Presentation-May-2022-.pdf

Attached is a link to this morning's RNS from Orcadian Energy relation to the the electrification of Central North Sea Platforms.
https://www.lse.co.uk/rns/ORCA/orcadian-report-provides-carbon-emissions-solution-iceurcv12k9c7bn.html
I think this will be of more than interest to JOG (and it's shareholders).
The RNS announces it's final report to the NTSA (which implies to me it has been discussed with the NTSA and "approved" - in terms of feasibility and Carbon Reduction Targets).
ORCA are going to present their findings/ report in Aberdeen to the Press on 10th May 2022 (tomorrow).
Of interest
"Advantages of the Orcadian approach include:

? Emissions reductions - approaching an estimated 80% reduction for offshore facilities.

? Lower costs - potential saving of almost US$2 billion and more than 25% cheaper compared to a solution that uses power from the UK grid, when capital and ten years of operating costs are included, for a subset of platforms.

? A practical way for operators to meet their North Sea Transition Deal commitments in terms of both the emission reduction targets and timeframe.

? Could be delivered quickly, and in phases, which allows a staged deployment with a steadily improving reduction in emissions.

? Opportunities for the core infrastructure to be re-used or redeployed - which could provide legacy infrastructure for the grid and/or other users."

I hope JOG will be listening.
Our initial Capital Costs were circa £1 billion (with a 20% contingency built in) - a reduction of 25% of 25% to the powering of the rig should be very attractive.
Perhaps a slightly higher carbon emission figure per barrel (but still well within the NSTA aspirations)?
Earlier start up, possibly taking advantage of the high oil prices?
Initial payback was noted as 3 years - reduced initial costs combined with a higher oil price would surely reduce the "pay back" period significantly.
I think this is all positive and good news for JOG.

Indeed.
I always thought being a share basher was the lowest of the low.
Imagine being a failed share basher!!
(Started when the price was about 169 p, and it never went lower - today 217 p)
I think her desk will be out in the corridor now, with a Dunces hat stuck on her head.

Below is a link to the NSTA web page on platform electrification.
https://www.nstauthority.co.uk/the-move-to-net-zero/platform-electrification/
Some edits from the page "platform electrification is both essential..."; "critical to preserving the industry’s social licence to operate".
Note also the phrases "the industry should deliver at least two operational electrification projects by the mid-2020s".
What's JOG's timeline for first oil?
Do Government Bodies make bold statements like that, risking the words to come back and bite them (without having a bit of an inkling as to what is going on in their patch?)
Hopefully more good news to come.

The Scum of the Earth.
My sympathy to the parents who had the misfortune to bring that rodent into the world.
The shame they must feel that their offspring try to make a living in this way must be haunting.

Where have JOG ever said they are going to use an FPSO?
Why would they enter into negotiations for something they will never use?