Member Info for marineclark

I was actually considering buy back in here a few days ago, but quickly remembered how much a turd it was. I would buy back in if management was replaced, but until they are gone, they will without losing much in shares as they they have much, trash the share price while still taking home pay and bonuses,

Support has broken intraday all time low of 27p,a close below is ominous.

Good find MPO818, I forgot about Finncapp, used to use it often untilk recently.

https://www.finncap.com/research-portal#/portal/finncap

Don't need a password to read the analyst report, just an email address.

I have copied and pasted only the summary, for the rest please check our the link

"JOG has completed the 50% farm-out of its GBA licences to NEO Energy despite the tough industry environment, a testament to both management’s capabilities and the quality of the project. Management are now pursuing an additional farm-out(s), with the ultimate aim of retaining a 2025% fully carried stake in the development. We have updated our valuation to reflect JOG retaining the low end of management’s ambitions, which drives a 14% increase to our risked NAV and price target to 755p/sh, with upside beyond 900p/sh if the upper end can be achieved. The muted response of the shares to the farm-out is more a reflection of the political backdrop than the success of this transaction. It opens up a considerable valuation gap and leaves risk/reward heavily skewed to the upside if JOG can secure a further partner(s) for its GBA development. "

Interesting reaction or non-reaction to the news today. Not much volume traded. No where close to the volumes traded when news first come out on the the farmout agreement in April. Unfortuntely, as in life, nothing iis guaranteed. So todays news did not replicate the same price reaction as the intial news of the farm out. However, due to the very low number of shares in issue, this share is volatile and can swing up and down very hard. The fact that the price has fallen on the weekly candlesticks for the last 10 weeks and is now showing the first green, assuming price holds tommorow, will indidcate a possible bottom. that means any price movement will mosty likely go upwards. So you dont neccasarily need massive news to drive this up, if the natural price movement is that the sellers have gone and any buyin, even small will push this up.

We still have SImon thompsons update coming soon, maybe tommorow as it often does, and that will bring the volume here to drive the price much higher.

From the RNS the" The Company is also pleased to report that the GBA partners are well advanced

with selection of the Buchan re-development solution and it expects to be able

to provide an update on this shortly." which wil release $9.4 million on finalisation into JOG's coffers.

Still lot to play for, and lots of news to come. Todays news, derisks JOG going forward, as without the inking of the deal, could never be 100 percent. Price wont double overnight but if it doubles in a month or two, or a bit longer, I will take that just as well.

Not long to go now JamesSimon. Looking forward to the completion of the deal. And the 2nd farmout possible around the corner too. According to Brokers, the NEO deal alone is worth around 450p.

Price appears to be holding at these levels, so agreed superb entry price.

1st green candlestick in 3 weeks, excluding the one last Friday which closed near the bottom and and had a long upperwick and was therefore still bearish. Still about 1 hour 20 mins from market close, but if it stays like this, then we could be at the bottom. I did get my entry a little off when I bought recently but it wasnt too far off this price - it is a volatile share so getting near the bottom is good enough. Also price has retraced exactly back to when it was just before the farmout agreement announcement, around the 170p level, which it has now bounced off now.

Assuming the deal is signed, I see no reason why the price cant go back to 365p highs, it reached in two days, the last time, and even higher, as any uncertainty will have gone for good, but you have to be in it to win it as they say!.

Good luck ,and DYOR.

On the flip side Greener, when the good news comes, this will rocket. Can;t be long to go now... ..

WHo knows, the 2nd farmout, could be just around the corner too.

Desale, suprised you havent bought back in with the proceeds at 3 pounds, you know its heading back up there when the deal is completed.

JOG is worth a punt, farmout deal anticpated to be inked this month. When it was first informally agreed the price doubled in two days, but has since retraced all of those gains. I think the market is waiting for deal to complete and it could double again when that happens shortly. Also, it is one of Simon Thompson's tips and once the news comes out, he always give an update the following day, and that typically leads to a strong rally in price.

As for jadestone, it will be a while before I buy here again. Nothing in the chart is telling me to buy right now and probably for a while yet. But good luck to those who do.

Market is waiting for the certainty of the inking of the deal. Unless you think it wont happen then now would be a superb time to get in before the its shoots up on the news. Just over 2 weeks left till that happens. 2nd farmout could also happen any day as well.

According to IC, unrisked nav once both farmouts are inked is worth £10, but the NEO farmout deal alone is worth £5 unrisked. Fair enough, market want the certainty, it will get it soon.

Price is has retraced pretty much back to the price before the intial deal announcement in April, I dont think a opportunity like this is going to come around again anytime soon. BUt DYOR.

As per the notifcation of mjor holdings RNS on that day, UBS's holdings dropped below 5 percent on the 18 April (), the level that no longers needs to be reported. The price on that day was around 257p. I reckon they have been steadily selling since then, thats why the price has retraced back to today's 185p. Once that deal completion comes we shoud be in for another big rally, you can bet that the day after Simon thopson will be providing an update, and that can often drive the share price much higher.

IT was UBS that sold most if not all if its shares here... and that doesnt make sense as the risked NAV is mutiples higher than the current price. However, it cant be concidence that it was a bank that was selling shares. in the context of the recent banking crises, UBS practically had no choice but to buy credit suisses out of liqudation to prevent contagion and a further run on banks. So it appears that UBS is a forced seller and took advantage of the large price rise to acquire much needed funds probaby to cover cerdit suisses debts etc... Now that they've sold out, when the completion of the deal is inked, I would fully expect a large move upwards. but DYOR as always.

"The Company intends to farm-out additional equity in the GBA licences in order

to ultimately retain a 20-25% carried interest in the development following

FDP approval. NEO has an option to increase its 50% interest in the Buchan

licence by up to an additional 37.5% in exchange for a further cash payment

should any of JOG's equity share in the development remain unfunded ahead of

FDP submission, with such payment being the pro-rated balance of future cash

payments due to JOG post completion in relation to the GBA development

solution and Buchan FDP as outlined above.

JOG remains well funded for its on-going and planned work programmes, with a

cash balance of approximately £6.5 million as at 31 December 2022. It is

intended that the cash payments anticipated to be received from NEO following

completion of the transaction will be utilised to pursue the Company's stated

growth strategy and provide additional working capital for the Company."

Completion of the deal is anticated this month, so any day now:

In exchange for entering into definitive agreements to divest a 50% working

interest and operatorship in the GBA licences to NEO, the Company will

receive:

§ 12.5% carry of the Buchan field development costs included in the FDP

approved by the North Sea Transition Authority ("NSTA"); equivalent to a 1.25

carry ratio

§ Carry for JOG's 50% share of the estimated $25 million cost to take the

Buchan field through to FDP approval

§ $2 million cash payment on completion of the transaction

§ $9.4 million cash payment upon finalisation of the GBA development solution

§ $12.5 million cash payment on approval of the Buchan FDP by the NSTA

§ $5 million cash payment on each FDP approval by the NSTA in respect of the

J2 and Verbier oil discoveries

Expecting a decent rise when the deal is signed any day now. Not much volume, and as the market cap is small won't take much to move this in either direction. Also, 2nd farmout could also come any day too, the last time the deal happened a week after a notification RNS was released.

Chart wise, retracement is now 50 percent of recent highs of 365p. I may have gotten amytiming a little off, but didnt want to miss ang big move up on imminent news.

Thanks Gammer. I bought in earlier this morning as the price has retraced to a support level around 195p. I had missed the last rally to 365p but will be ready for the next one., which could come very soon with the inking of the farmout deal with NEO this month. The second farmout deal could come any day as well, so lot to play for in the short term. Risked nav of 703p, very nice indeed.

Could someone copy and paste here Simon thompson's most recent article on JOG?

I'm out. With some relief, the placing price wasnt as bad as intially feared. It did drop to close to 45p only a few days ago. My average was slight above 48.5p so took the loss. However, the other smaller losses at higher prices has added up nontheless easily recoverable with a few good trades trading something other than this.

With this placement, whats not to believe another is going to happen six months from now? Who burns through cash like there is no tommorow. It's like the lotto winner who a few years down the line is clamining universal credit. And Aktara producing in 1h 2024? Lol, year right, that would be suprising indeed.. I would guess more like 1h 2025.

CHarts wise, a break past 45p portends a serious drop below. Good luck here all, but I won't be putting in my hard earned cash in gunslinging cowboys management shooting out cash instead of bullets.

we all know that investing/trading shares comes with a health warning, financial and mental. the nuke of an rns was deliberately released after market closed, which i can't fault, but instead the fallout will land tommorow. among the **** that was dumped today on existing investors , there are still gold nuggets to be found in the stench of filth.

tommorow, i can see what will happen chart wise, but i'll keep it to myself for now.

We have until latest 6.30 pm for the RNS to come out today, so still 2 hour 15 mins left.

Https://tradingeconomics.com/commodity/brent-crude-oil

OIl price is down 1-2 percent, unless yo are day trading oil you shouldnt be looking at the intraday price. Over the last months, the price has ranged between 88p and 72p. Opec+ won't allow the price to drop beyond, and will cut production to reduce supply to raises the price. As posted, this is the plan until end of 2024.