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people tend to show more interest in attending such meetings if they know where it is being held.

I see Brent has put on a New Year spurt. Up approachingf 5% @ $56.50. Every little helps :)

And what do you keep on the small holding - turkeys :)
That's another resolution down the tubes within 48 hours.

Dick - Peace and goodwill to all men. One of my NY's resolutions has been tested to the limit :)

Let's look at things from a different angle then.
I'm invested in JOG because as I've alluded to previously, I like the risk vs reward.
Against the risk I look at their assets, largely potential oil discoveries under the N. Sea and against published information work out the future value of the Company in line with those estimated parameters and the chances of success.
Clearly at this stage of the process Cortina is more of a risk than Verbier and finding 130 Mmbls of oil within Verbier is more of a risk than say finding 70 MMbls and that's more of a risk than finding 35 MMbls. But one has to work out what that potential reward could be because if you do not then you are investing blind. So again, what value would you apportion to that 70 MMbls scenario @ Verbier.

Thanks for the reply but I was rather hoping that you were going to answer my question. After all, it's a pretty basic one.

So if JOG and their partners prove up reserves of just the mid case of circa 70 MMbl at Verbier, what do you anticipate the value to be of JOG's 18%.

Dick, A HNY to you too and all the other Joggers.
As I mentioned in the original post, I felt we had gone off on somewhat at a tangent around the Equinor asset sale to BP, (comparing apples to pears) so thought I'd put out a balance to that based upon the basics but at top end re costs.
There are plenty of intangibles with a NPV valuation, the forward oil price as a prime example. I was more focused on the here and now. There is also the very real possibility of a buy out from Equinor, Cieco or some other party. Prove up the asset and I'm happy with either scenario.

Given the side track of the Equinor asset sale and subsequent comments about the value of JOG's assets, perhaps we should have a closer look at what the Company have told us.
We believe we have 25 Mmbbl in the hutch and the appraisal well is to determine the resource range of Verbier up to 130 Mmbbl with a mean figure of 69 MMbbl.
Cortina is for later and subject to ongoing work on the latest 3D survey but it is estimated to contain between 39 and 249 MMbbl recoverable. As Dick recently stated both Verbier and Cortina straddle the Bucham oil field. Interestingly, Buchan was originally estimated to contain between 50 and 120 MMbbl. It has finally produced just over 150 MMbbl. The fact that we are so close to Buchan not only helps from a potential oil perspective but also it keeps extraction costs low, due to the infrastructure already in the area.
So let's have a closer look at the Verbier parameters. JOG have stated that the combined costs, capex, opex and abex as being in the range of $26-35 per barrel of oil, over the lifecycle. So taking the price of oil at $54 per barrel, that gives us a gross profit of $19 a barrel or £15 at the top end of costs. Presumably, the more oil we discover the economies of scale will move the costs down pro rata towards the $26 per barrel level.
25 million @ 18% = 4.5 million x £15 = £ 67.5m or £3.10 per share.
69 million @ 18% = 12.4 million x £15 = £186 m or £8.55 per share.
130 million @ 18% = 23.4 million x £15 = £351 million or £16.10 per share.
These figures do not take into account the outstanding cash after Verbier of approximately 50p per share or Cortina and the other assets on P2170.
This is of course tempered by the fact that it all has to be proved up but we have very good partners to help us do it.
The risk vs reward in my view is excellent.
https://www.jerseyoilandgas.com/wp-content/uploads/2018/12/JOG-Proactive-Investors-December-2018-Read-Only.pdf

Your reference to trap and your earlier comment about tax, leads me to ask if you are aware of JOG's tax losses, which can be offset against profits.

The only point I'd like to add is that we will know the result of Verbier before any decision is taken to drill Cortina, so your £5 million can be added back into the pot. Thus the value rises to circa £2 a share plus the hopeful upside to Verbier. For all that, even allowing for market weakness, this share price action is not normal. Even for an AIM O&G stock.

Well that doesn't appear to have panicked many into selling and it's now moved back up on precisely zilch.
Somebody is hovering these up and it looks as if they want some more.

In the interim results rns of 20th September, this was put back to Qtr 2 2019. It's a bit of a mystery as to why it is taking so long, as the data was acquired last June. In any case the Verbier appraisal is not dependent on it, although I'm sure elements of it will assist them, even though it's not the final imaged data.

I see from your posting record that, like the rest of us, you don't always get it right :)

Thanks for the clarification and good luck to you too.

It seems a bit strange to abandon ship after a year, when we are fast approaching spud date.
I suppose you can always re enter in January.

If you listen to the video mentioned (14th March @ around 22 mins) Mike Buck hasn't been very clear in this instance.

Over that and it's 9.1525p.

I can get a price of 9.14p on line for 250,000.

None of us know is the honest answer but we can all continue to hazard a guess.
DT9 (1766m) and DT10 (1740m) both took 19 days to reach TD. In round terms that 92 metres a day.
I would assume the Davsan Tolgoi geology isn't that much different to the "benign geology" in western Mongolia.
On that basis it would take around 36 days to drill 3350 metres, all things being equal. We spud Snow Leopard 42 days ago this coming Monday. Interesting week ahead :)