The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Imagine if they forgot to turn the machine on whilst they were floating across our licence. I only mention it as a possible explanation for the deafening silence regarding the findings. C'mon BOD twist your partners arms, we have zero turnover and are in need of some NEWS re our company. ( Hoping the finance department, accounts etc have been given the summer off - without pay)
Hi Dickupham and thanks for the link and the interesting info regarding the stunning recovery in SQZ's fortunes.
If as you say our leaders have been busy - taking decisions with their partners regarding the further exploration of the licence, perhaps - such news would lift the current stagnation in the sp. Indeed, any news would be welcome to alter
the current "black out" scenario. Ihimtioeithrs
(I have invested more than i originally envisaged into this high risk share)
Is the agenda published in advance ? I can't go next Thursday but hope it will answer some of the pressing questions for investors who have no idea whether they are catching falling knives or taking a good opportunity to lower their averages.
Or any news. AGM next Thursday and we badly need confirmation that Equinor will drill again in the next year on our licence. I have found these price levels, valuing the company at less than its cash assets, as an irresistible opportunity to average down but without ANY news, the JOG office is sounding awfully empty.
It has been very reassuring having your measured opinions these past two years and some. Acting on the mantra
"buy shares when they're cheap" (and to bring my average down to £1.50, I have bought twice this week. Our leaders paid themselves a £10k bonus last year and what a good decision it was to raise £24million when the sentiment was right. I suspect that we will have to wait well into 2020 for another drill but maybe I'm wrong. Perhaps the licencing awards and the data analysis will promote an earlier drill. Success of any kind would make new funding much easier.
U2170 has finally started to rise away from the seabed after Graybird suggested that we fire all our torpedoes to lighten the sub and blow me down it has worked. Also able to clarify how much air we have left and it was more than the crew had thought. If we can get the enigma machine working again we can receive the information needed on how to blow the tanks which are jammed and that will surely send us back to the service. Before we put to sea clear instructions were issued to send gifts of new potatoes to Tommy and DUM and these have clearly arrived.
Morale is poor as our dive continues and the crew cannot understand why we are transporting an English speaking passenger to a destination unknown. Mr Griffiths is clearly unhappy at these depths as we all are and there are leaks everywhere even in the galley as we have bought some with us for our Welsh passenger. Graybird may become a thorn in my side as he thinks he heard me referring to First Officer (seconded) Morris as Jenni which I told him was ridiculous as the man's name is Benny. Thinks... What will happen if the crew find out we have a woman aboard
"Cheer up men, there is plenty to play for and when we get back to the surface we'll be after those Tommies. At our refuelling point, we had 200 fathoms under the hull. Now we are 60 fathoms off the bottom but hold fast, First Officer Morris is devising a plan to get us back to the surface. Some of you are worried how much air we have left, is it enough for 15 days, is it 12 or is it ten ? If we stop doing anything, we'll use up less air so no more whining. If we can bottom out at this depth, help is on its way". Thinks ... I may have to send Graybird out to mend the rudder.....
This is starting to resemble a crash dive with Captain Benitz trying to keep his crew calm and reassure them that if we can pump out the tanks with the help of First Officer Morris, dressed as a man, we can get back to the surface. But if Morris, seconded from Battleship Equinor can't decode the data on the enigma machine, this fish is going to start leaking. Achtung baby !
It would be good to know what we do have in the bank and that our expenditure is tightly under control. I hope the BOD do not rush into an overpriced acquisition as I have never thought that asset management was this company's USP. Obviously non of us want a placing at some ludicrous price and hopefully the larger shareholders (now inaccurately listed on the website) will resist this. We need to hear that Equinor have reviewed the data and want to drill again this summer/autumn. We should have the funds for that and if that's a duster game over, if its a find then we're back in business plus we may have applied for a new licence. Lots we're waiting on.
I suspect Ron and Andrew had already faced a bit of displeasure from friends, family and even institutions over the delay to follow up on the original discovery. "Surprised and disappointed" was how they felt... particularly knowing how those who had supported them would feel. It all looked so exciting but Equinor have missed the target. I just can't help feeling that Statoil would have had more success. Oil isn't in Equinor's name .........
I hope that RG said to our board you are worth only marginally more than your cash and I am happy to shore up confidence by buying in this low as the investment is backed by JOG cash at bank BUT only on the basis that there is a moratorium on spending any more of the stuff until Statoil tell us their intentions. On this basis his investment is very low risk. The company could be would up and he and every one else gets 65p or whatever the price at the time is. But
lets hope he can persuade some of his loaded friends to have a punt as well and that Statoil like what they see.
Clearly Mr Griffiths is not as pessimistic as some. Just what we need to sort out our Board and a significant stake of AB and RL combined. They could hardly raise money in the market, perhaps Mr Griffiths will be our source. Great News.
Hope you're still there Ajax, the cavalry are arriving.
I am hoping that Equinor see value in the licence and are attracted by operating without partners at a time of their choosing and mop up us and CIECO who though a very large co cut back their North Sea investment (i think) last year and who right now are probably feeling underwhelmed about the investment. Not sure who else would want to partner up with Equinor right now by picking up our 18% but I know a lot less about all this than Malcy and that's saying something.
I don't know how many JOG PIs there are in Jersey and therefore the chances of our BoD bumping into them but it's a pretty small place, never mind friends and family elsewhere. Everything about the next stages of action for JOG was predicated around getting a better handle on the size of the find. As I've previously stated re cutting overhead, I really can't see there's much more for them to do as they have left themselves exposed to this zero income, totally unknown prospects scenario. But with the price having come down this far, to me it makes sense to hold on for the "data".