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I accept that we are five minutes after the CMD on the other hand I expected to be nearer 287p than 187p this week. Maybe our BOD only heard of the Equinor decision shortly before the event and their presentation was already finalised. I think Dick has alluded to his concerns about the sector going forward and he has been very informative about the potential numbers going forward. I would really appreciate his thoughts now that he has had time to think about what he heard at the CMD and our strategy going forward without Equinor on Buchan hub. In the three years that the company has traded it has spent few days north of £2.50 and none in the last two years so bird in the hand, potential change of government / hydrocarbon policy etc, I would bite your hand off at £5
Multitasking is all well and good as long as a sufficient percentage of your top people are out there looking to grow your business. This is AIM we know the risks and we have seen how tough it is partnered with one of the best. I just hope there is no complacency about the award and the need to scale up fast to make it happen. IMO
I am sure it is very exciting drawing hub diagrams with lots of spokes coming out, hell you might even think you were an oilman, but when you have zero income and an sp history that is a nightmare (that we have all held on through) I think you need to be reassuring your investors that you are looking to do a deal as a priority rather than talking about derisking over the next two years. If some pundits are correct, Eurozone could be heading in a direction that is not conducive to a strengthening oil price in fact quite the reverse. Time as they say is of the essence.
Amidst the excitement shown by some posters (nor currently reflected in the sp) I would like to express some concern about the tactic of assessing over 50 potential asset purchases and now potentially looking at a hundred different ways to build the hub. Don't get stuck in the bicycle shed guys, we need you out there talking to potential partners now not in two years time
when our cash position has deteriorated. Lets focus on what we're good at FINANCE and now we are not working with Equinor lets waste no time partnering up. I don't think JOG without Equinor is going to attract institutional interest but if we tack on the expertise we'll get the job done quicker and look much more attractive.
Clever guys who selected a name without Oil or Gas in it and drawn from Greek mythology. We should partner up with them to remove the hydrocarbons from our name (as Statoil have done). Maybe its the Oil and Gas in our name that has put Equinor off.
Hi fairdealer20, as we both know the "GBA" award is all about the governments desire to raise tax although if successful this would have positive benefits to the Scottish economy. I regard this as an award rather than a deal (as in you do a lot of work in a presentation to get an account without really knowing what will accrue) I need to see our Board do a deal to get us away from the offer price (£2.00) and nearer the Arden figure of £6.00
So after a merry dance we are back at the price that funds were raised at. Other than the successful farm out to Statoil,as it was then , we have only done that deal and we have no income. Our deal-making record since then has been zero as we have not managed to buy a cash generating asset, not a bad thing if the prices were wrong. Now we need to do a deal either to sell the business or find the right partner to take us to a better place to sell the business. I hope our Board possess that skill. I am holding whilst I await feedback from Dick. I am concerned that our plans are too grandiose.
I am liking the tone coming out of Brussels as Juncker faces up to the failure to resolve the impasse on his watch. In typical EU fashion, sensible negotiation will start at about ten to midnight. I actually think it will be resolved without an extension because even politicians can appreciate when eventually you have to move on. Timing could be great for us (that is if you are comfortable with a negotiated Brexit which I personally would be assuming a modest sweetening of the terms)
I said it before when the subject of a revenue generating acquisition was being discussed (seems a long time ago now). The core skill sets here are in Corporate Finance (AB at Deutchebank) and exploration (FL at various big oilers). Now we know that our BOD has deal building skills as well, with these successful licence awards. Joe public still worried where the money coming from but for this BOD, I don't see the funding issue being a tough nut to crack and as previously discussed on here the matter has almost certainly already been resolved. My view and one shared by others here is that our BOD will never get involved in the messy business of actually getting the stuff to shore, they will be have filled their saddle bags by then and ours too.
An island resident with far more investment experience than I , suggested I sell an amount to cover my investment and run the profit. My reply was that having painstakingly acquired JOG at low price levels, I did not think now was the time to be doing any selling with so much potential "good" news in the pipeline. However, as it has been a while, I am naturally keen to learn more about the prospectivity of P2170. Need to stop checking the price and enjoy what's left of the summer.
On this date, JOG announced that the 3D seismic survey (of P2170 ) had been completed and delivery of the final image data was due late Q1 2019. My question is "If the data does not result in Equinor showing an interest in drilling again at Verbier or for the first time at either Meribel or Cortina, will their decision to take up their option balance out this downside news or leave the share negatively rerated".
Good to see the SP breaking through the offer price (not that I paid the offer price) and good for our board's reputation that institutions and PI's who have held are now in a position to have that faith rewarded. I had no idea whether buying in the 60's made sense as our BOD had gone rather quiet but couldn't resist topping up with a further 14,000 all for just £9k over two months. If the scan of our licence is at the lower end of expectations this news would have been crushing to JOG but could now be absorbed, if the results are to the middle or upper end of expectations and a further drill or two are announced then things could get very interesting indeed.