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Or maybe not, didn't realise LSE stopped issuing them recently ... ;-(
"Service notice: Due to low readership of PME notices, RNS will cease their publication in late March / early April 2023. Please contact rns@lseg.com if you have any questions related to this change...."
Mikey,
"the Buchan field is forecast to deliver 35,000 barrels of oil per day at peak production..... 7000 *50 = thats like $100m in cash every year.... FREE.."
Or another way of looking at it is, wait for a few years then collect ~250p/s dividend EVERY YEAR thereafter.
aimo & dyor
Just a few more pieces of news and we should see staged rise to circa ~380p and beyond, news which I may add is about as nailed on as you can get during these turbulent times.
Given the almost 'certainty' of said news, offers for our remaining equity would surely follow, just hope our board choose the right path for shareholders at that particular moment.
In the meantime, JOG's coffers are overflowing with milestone payments ..... :-)
PS ~32m shares in issue at this point with a minnow O&G players is unheard of.... talking of 'herd' !!!
PPS They tried extremely hard to close the gap over past few days, almost made it too, absolutely NO chance this time around, although they had a good go this morning.
DU, a very Good Morning, Me Ol' Mucker.... ;-)
aimo & dyor
Mommur,
"or are we looking at a possible bid / dilution for us folks again as the "business" grows...."
For sure the price reflects to some degree EPL but I also think we could be close to a deal, or even a mega-merger.
As for DIVI re-investment, made my mind up some time ago to plough no more back into SQZ.
aimo & dyor
Https://asos-12954-s3.s3.eu-west-2.amazonaws.com/files/7217/0065/7934/ASOS_Annual_Report_2023.pdf
More interesting to me is the fact Jacques Tohme who was always in-line and quoted as replacing Andy as CFO wasn't given the position.... hummm !!
Maybe Jacques Tohme other 'interests' offer more reward now he's already collected a massive amount of SQZ shares as part of the TW deal with more in Q1 24.
https://find-and-update.company-information.service.gov.uk/officers/SjIPMEwy6j_QHpXQ4zkN5O0wZNs/appointments
aimo & dyor
Interesting one, wasn't aware of the attributable 'compound 10% a year', clause, every little helps :
"Ring Fence Expenditure Supplement (RFES)
The RFES assists companies that do not yet have sufficient taxable income for ring fence corporation tax purposes against which fully to set their exploration, appraisal and development costs. The RFES currently increases the value of losses carried forward from one accounting period to the next by a compound 10% a year for a maximum of 10 years, not necessarily consecutively..."
Today's close ...Flat as Feb 21, 2023 !!
Managed to pick-up a few more sub 15p with help of profit takers just before close.
Strong UT of £2.27 to end the day nicely, lol.. ;-)
Good w/e all, next week is yet another week closer.
"This is another piece of good news from JOG who are clearly working extremely hard in order to deliver the GBA in a remarkably short time frame. Firstly it is a really good, young piece of kit, I think that it is a really good boat and has only been operating since 2017 which makes it a perfect fit for Buchan and I’ve seen a few FPSO’s…
Costs will be within the capex as defined in the FEED process which is making ‘good progress’ as is the FDP where the draft and environmental data is expected to be submitted later this year with approval at present hoped for in H2 2024. And of course JOG benefits from triggering of payments following the NEO farm-out, today’s transaction results in a $9.4m credit and another $12.5m on FDP approval.
The company are also in negotiations with regard to further farm-out of the GBA and today’s announcement will surely have accelerated that process, discussions are continuing but there is no formal guidance as to how long it will take. Overall this is a superb result, it gives tangibility to the project both from an investor and an industry perspective and firms up the overall time scale, apart from anything else it proves that electrification and movement towards a low carbon strategy can and will happen and thus this is a leading light project for the whole industry.
I have always said that the value of JOG is significantly above current levels and as progress like this keeps happening that value realisation becomes more visible. The GBA project is of such scale that once it is fully underway my Target Price for JOG of £10 per share could easily be an underestimate….."
https://www.malcysblog.com/2023/11/oil-price-jog-reabold-and-finally-2/
MPO818,
"A bit disappointed at no mention / update regarding the further FO.."
No need to guess why !! .... ;-)
"With a further $9.4m in the bank they remain well financed.."
Oh, the additional $9.4m (£7.6m) is worth circa ~24p/s so would expect that to be factored in, pronto.
Only negative is that massive opening pesky gap, which I hope will be ignored given the gravity of the news and cash boost too.
aimo & dyor
Significance of this 'known' news will take a few days to sink in and the none-followers (believers) to jump aboard. Of course the next major SP driver could drop any time now we have essentially, confirmed route to market.
Once we have that full-flush, extra straps will be required, until then our SP is open to the usual market games. atb
aimo & dyor