Member Info for Greener101

I feel this is a legitimate red herring as these guys are in the same boat as JOG?

They announced they had great new high-probability finds in seismic, and it would look like there main field is a goer if GBA is a goer.

The worry is that equity gets wiped because of cash burn.

Does anyone have a view? I have stock here bought at 16 (oops) I hoped would be a leveraged play on JOG farmout (like buying JOG way back when at 40)

I think you mean WFT Shredders but I understand the sentiment

I am very happy that's been agreed

Good news. I am however reminded of the long car journey as a child: "Are we nearly there yet?".

If we get a F/O, or even HoT tomorrow, all good.

If no RNS or nothing substantive, could be dicey....I agree we'll see a deal at some point but in the meantime... ooof

...all this a distraction, as I used to think before EPL floor potential announcement drew near without a deal.

UK will be a high tax environment for the life of GBA's producing period, with a Lab gov in power all but certain.

Best option is for people to just grab the allowance now, and get going.

We can only hope the delay is nothing to do with EPL floor, and just a 'down to the wire' negotiation to a deadline, bracketed on one side by AB's guidance, and FY year end on the other.

Heads of terms agreement this afternoon RNS or tomorrow am.

Good luck all

Well, to kickstart discussion... does lack of clarity on EPL preclude an announcement in the the next few days?

Unless someone announces something in Aberdeen (It doesn't seem like this is happening?), no clarity on EPL.

"Supporting long-term investment

The Government recognises that fiscal policy plays an important role in securing long-term
investment in the UK Continental Shelf and supporting the sector to maximise domestic
production of gas. The Government has announced a review into the UK’s long-term fiscal
regime for oil and gas, to ensure that it delivers predictability and certainty, supporting
investment, jobs and the country’s energy security."

Page 16 from the link you sent Carcosa 61. So nothing soon.

I note big money is exchanging hands for undeveloped oil in NS (rosebank), but pressure is still being applied by players on fiscal security.

Conclusion - why can't JOG get players signed up for GBA, which some rhetoric along the lines of: "F/O of fantastic opportunity, but post FID contingent on improved fiscal regime' etc. Get heads of terms in place, maybe even start some initial work.

Hoping Friday gives some clarity

Does anyone know when the gov is going announce this energy security stuff? I had understood there was going to be an announcement in Aberdeen?

Does anyone know when this stuff is published or announced?

Looks like we are down to the wire...!

Millario - I had though of this myself. But any insider buying could easily be absorbed by retail sellers?

Also, all of the insiders are existing shareholders, on dealing lockdown, and already stand to gain hugely anyway. Why take more risk be getting your best mate to buy another 100k?

The deal will be done with limited people in the room.

Christmas eve when you're not sure if you're going to get the GI Joe with the Kung Fu grip.... but yes.

Do we think JOG know what the EPL floor is? I don't, and it being so close to an announcement, it'll take a while to run the numbers on the financials?

Would seem odd to announce a big development before Chancellor has committed to a floor?

I will be reading Ithaca's results RNS carefully and will listen to the call as well. Looking for a hint.

Hoping for an RNS deal closed Friday am, but if they miss that without saying anything I would amazingly take it as a positive (although nervy) waiting for a result next week.

I don't know about anyone else, but if I'm going to miss a deadline I manage expectations - I don't wait until the day it's due and say 'sorry I haven't done it'.

I think it's fair to point out if they had acquired a producing asset to keep themselves busy shareholders would have taken a bath.

The marginal benefit of a small player snapping up an asset in NS is 10000 times less interesting than getting Buchan farmed out. There is competition from smart money in that area at the moment anyway.

I'm sure if they were dead in the water they would not take it to a cliff edge. Expectations would be managed. A hint from Ithaca in their call or results Thursday and we'll be back up there. Ithaca is 'committed to NS'... and without Buchan reserves down 30% by 2025 (first oil GBA?).

Whatever. Anyway the day of judgement is nigh, let us brethren stand and be counted. I added another few k just now selling something else.

https://www.energyvoice.com/oilandgas/north-sea/492271/uk-government-plans-energy-security-day-in-aberdeen-report/

Me hearties. Good luck to all in the next week. By Friday we could be rolling in Spanish Duckets or keeping Davey Jones company roughly 100m under @33 API.

Who will steadfast at their post till 1630 on 31st? Or who will mutinee and flee after no mention at Ithaca's results?

I'm not even sure meself. Although I remain all 3 sheets to the wind today.

Me too. But spare a thought, care in the community and all that: https://youtu.be/rRZ-IxZ46ng

Agree Surety. Hoping crashing Brent gets us an earlier EPL floor also.

Brent's drop may focus the govs mind also.

A little high inventories and demand a little weak plus stronger dollar and risk off this week... Does not impact long term bull case.

But a gas and oil are both not at windfall levels.

Hopefully some good news to come. Independents will see a rally?

https://www.reuters.com/world/uk/britain-announce-energy-security-measures-by-month-end-2023-03-15/

By month end!!!!

My heavens. There are filter buttons for a reason.

I don't think any of these recent events are delaying things. Possibly the budget would be an odd week to announce, but everyone I know in the industry is a long term oil price bull, and I shouldn't think FO partners are different? Brent up or down over this year has little influence.

This delay must be something deal-related. The Ithaca guys were brought on to facilitate something, who knows what, and they're trying to get it over the line. Perhaps Benitz's RNSs were to impose a deadline on the process itself - it can't drag on and on as Surety pointed out.

We will see a deal before end March in my view. The question will be how good it is.

I wonder if the SP will wilt over the next ten days. Who would have the nuts to sell now? Aren't the cynics out already? But who knows SP action is unfathomable to me. Could do with a 'leak' haha