Member Info for jim333

Surety, yes nothing changed. i still think that JOG will pull through. now is the darkness before dawn. there are very few transactions so absolutely nothing should be concluded about the price. Mt should be taken out and shot.

meanwhile Serica have just bought Parkmead's licenses. This means that Serica are still optimistic of a continuing UK oil activity. AB is scouring around looking at other oil activities. i have businesses in Africa so we have had the odd conversation on the subject. JOG is by no means dead

Have been in touch with AB. he re-iterated the view that although there is some headwind the budget has clarified matters and is appearing helpful. to put it another way it could have been a lot worse. equally Zeus have the same opinion - one of cautious optimism. next step is to see the attitude of the partners. AB is in Aberdeen today. On the subject of milliwonk my impression is that he has been told told to keep clear of current NS projects and concentrate on developing Green projects a la Great British Energy (disaster). hence his silence. The rest of the budget ? well if the socialists continue to think they are in the 1970's they will only have one term.

Surety,

all i know from Ab is that the industry is very concerned. there have been many efforts by many people demonstrating the consequences of downsizing the north sea and indeed showing that tax revenues are down 40% on last year. there are still many mps who think that big oil should be taxed to death. the level of ignorance is appalling. unfortunately the media is rife with printing "in the know " rumours. fact is nobody knows . what Starmer did some 7 weeks ago was in incredibly naive and the country has practically stopped ever since. so all i can say is that most stories coming out are not true but that does not make it easier for any us. i continue to sit tight and hope.

Hi Surety, well it is a tense time. this new govt has not distinguished itself. main priority stated to be growth - ha! and so far ominous speeches on bashing the private sector. well you cannot have both. milliwonk coming up with more and more loony ideas. its a judgement but i think jog will squeeze through. the green issues are taken care of and i think Reeves needs the revenue from Buchan.

the Treasury has been bombarded by employers, unions, et al saying the same thing. the video was yet another well aimed arrow. nevertheless it is fingers crossed as the govt are still a bunch of amateurs. i have not changed my shareholding. i know that AB has been working hard with partners to present the Buchan case. so its squeaky bum time!

Surety, you are right. it does not change my investment. it is irritating but not a deal breaker. the govt. are now being bombarded by angry oil companies and even angrier unions. Neo's attitude is probably a sound move - i cannot blame them even if it is a touch posturing. For a govt who claimed that growth is their no.1 priority they have a strange way of showing it. we are not LTHs anymore but VLTHs!

Surety, firstly i do not believe that the Govt would be so stupid as to make NS investment totally unattractive. they may well play a game of poker but even that is a dangerous game when oil companies can find more attractive investments elsewhere. secondly the specific measure announced yesterday were pretty marginal and generally were expected. The pain is the delay on capital allowances which will not be decided until October. that is bad news as it is inevitable that everything will drift until then. only a civil servant would think like that. a few bargains to be had, today i topped up.

James, i confirm i went to the AGM. the mood was upbeat and there was many complementary remarks about the two FO partners. it was requested that there should be more spotlight about the political dilemma that NS operators are in and you may have noticed a flood of articles in the last three weeks in the financial press, many mentioning JOG. now the matter is simple...investors hate uncertainty and that is currently the situation. each investor has to decide whether they have the appetite for this see-saw. i do as i believe that Rachel Reeves will have a stronger voice than ed milliwonk. the brokers Zeus capital have summarised the current situation well ie it will go ahead but possibly with slightly reduced returns. good enough for. my family and i have been investing more in the last two weeks

Onthe 6. as i am sure you are aware today has the AGM. yes i will be there, yes i will be seeing AB.

On the 6... yes indeed, for me i have not sold anything since the minor cash raising exercise in february. the delays are a pity and frustrating but i still believe Starmer wont put a spoke in the wheel. his policy is to announce "change" without saying what it means and hope it will get him over the line. unfortunately he is probably right. but it is not good for confidence. my family are trying to buy.......

Surety et al. confirming the rns . it so happens that my daughter and i are in the process of buying houses. it required some disposal of JOG shares. that exercise is finished now. otherwise nothing has changed, whilst disappointed (as is everyone) that the SP is in flat mode my opinion that JOG has a promising future is still held. Am also happy with AB. to me the only significant cloud is the likely incoming leftie govt which may or may not play to the green gallery. i totally support the policy of ensuring the UK has its own energy production whether it's oil/gas/windfarms/nuclear. As none of the green ones are in no position to replace oil/gas for the next 10/15 years it is better to continue to encourage the North sea. and not import at higher cost from outside sources. i am sure the GMB union will have something more to say as well.

JS my thoughts are that this is very welcome news as it takes further uncertainty away. in terms of possible hostile acquisition i think it extremely unlikely for shareholders to agree a bid of £4. a good 40% are LTH. my family (inc myself) have 10%+ and no way would we agree to that.

AB was in London yesterday seeing institutional investors. i met up with him after that. the reason for "silence" is that there is nothing to say. the project is going to plan and announcements are still scheduled for 4th quarter. Relationship with Neo is fine. AB doing a fair amount of networking whilst the operational staff are deep into hand overs with NEO. pretty standard stuff. no particular reason to feel fearful of a crisis round the corner

Surety, you ask for views... one conclusion is that JOG has too many IC investors ie those who look to make say 15% in three weeks and then sell. each to their own but JOG needs some more longer term institutional investors. that could well come later this year. i know AB is setting out for a sales drive with the very same in the very near future so maybe that will raise the price...

Poor timing, you are correct i do not support D.O's view. we are in a lull and so far AB has ticked all the boxes he promised.

This is massive news. i had been given the wink it was very likely and its a pity that it has taken so long. nevertheless it will give north sea investment a shot in the arm. banks previously had taken a very cautious attitude to lending just in case the price fell down to $50 or so. now banks will have a lot more confidence.

in addition rishi has been very clear about govt policy (at last) and starmer has shot a brilliant own goal even having the unions questioning his eco zealot attitudes. i would put my house on the price going up - oops done that already!

Greener.. i have opposite information. the govt are just waiting for things to calm down a bit and (very likely) will then introduce an EPL floor - probably in the next month. it is understood that currently banks are very cautious in this field and the introduction of the EPL will be a significant confidence boost to this sector.
i have no intention of selling.

greener101. - yes. so now and again AB calls me. battery metals - you are wrong. i said that was my take on the future ie everything is ok but who can be precise over the exact dates when so much is happening

AB called me on Friday. my conclusion was that generally the headwinds are very much in JOG's favour but sometimes the little issues can delay things so precise forecasting can sometimes be difficult. my take is that there should be positive news end of April but no-one should collapse with anxiety if it stretches into May. meanwhile as per DU - don't sell!

james, i have been involved in 4 acquisitions in the last 10 years. every one has been the same in terms of time - ie way over the forecast end date. it is usually that people involved underestimate the pernickity nonsense of lawyers with their "what if" questions. there will be may different groups involved as well. so in summary i am not that surprised. i am sure AB has (had) the best intentions when he made his forecasts but there could well be delays. the good news remains that many directors have shares and essentially there has not been much significant exits (bar one) from major shareholders. so i know the wait is painful but the fundamentals remain good.

Dick, brilliant - one of your funniest ever. may i also wish those on the bus a happy christmas and very prosperous new year courtesy of one AB