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I agree with that comment. The oil has been in the ground for many thousands of years, so a few more days and weeks wont change things! I also agree with most of what you say JIM - I have been taught a very good lesson by reading - not just on here - but on other AIM chat boards some of the more moronic comments...one of which was how can JOG have a SP higher than BPs...it does make one weep! I think my only point of issue is that I believe the board view a farm-out agreement valuing the oil more like $10/barrel is more in line with their way of thinking. I have been a wee bit mischievous on here recently talking about a £170/share SP but as I am keen to point out, it's really only because the current valuations are simply daft. Anyway, well done Jim, I might have to follow you in!

Carj squared - or just carj carj - I could not agree more with what you say - there are all sorts of metrics that need to be applied to the final destinational (is theresuch a word?) value of JOG...for eg, oil could well be below $30, I'm just using Woodmac's latest report as $60-80 is their 'core' view...who knows what will happen, we certainly didnt see Covid or the spat between Russia and Saudi coming, did we! Equally, Morgan Stanley had a $190 target! Now that would be a game changer...
Equally, we know from JOG's latest report they 'may' have an extra 200mm barrels lying around...they might not need to do a further dilution...there are all sorts of questions, which us mere mortals certainly don't have the answer to...the reason why I talk about an asset value of £3bn is really just to suggest that the current market cap of £36mm might not be in touch with the future potential...and as you say, OIL might retreat to $20 as we go all green and that will be that....which is kinda why I said recently - on here - downside is zero eg 100% and upside if all ducks align themselves are many multiples of here...you pays your money...
But I completely 'get' the need to discount future cashflows, so fair point...

Not that JOG will exist in my humblest of opinions by 2025 anyway!

Munchbox - you are right in all that you say. No oil til 2025. Now I have a question for you because you have very kindly come on here out of the kindness of your heart and given us foolish holders reason to worry - anyway back to that question - and I agree this is all heresay and nonsense on how we derive some future valuation on the share :
If JOG gets to 2025 in one piece and if JOG has a minimum of 130mm barrels of oil in its portfolio and if the price of one barrel of oil is c $60, what value would you, o wordly wise one, ascribe to the value of JOG at that stage? And for ****s n giggles lets say there is a further dilution and we have 40mm shares outstanding at that stage. Would you agree that a fair valuation of the asset might be :
($60-$30) ( = profit / barrel) x amount of oil (130mm) = $4.2bn. I think we can all agree both the US and UK are equally fooooked so lets say $/£ at 1.3 might be about right. So £3bn fair value of the asset. or £75/share 'value'.
The current market cap of JOG is £30mm and it has an asset that might in 5 years time be worth 100x that.
here's my question : When should the market start to ascribe some value to this potential windfall? I'm thinking it won't be the day before oil is poured. But it might be fair to assume that - as we approach various milestones on this - agreed - lengthy journey that the market might start to work out that £30mm for an asset with this potential is a tad low.
To those that want to day trade using MRSIs excellent charting technique - good luck. But please, if the day you don't have your shares on the day the company announces a surprising farm out agreement whereby it has subsequently the financial muscle to get to closure without any further dilution then please don't say bu55er, why did i try and nip 30p out of the bid/offer only to lose not £1-2 but £10-20 in the SP.
Just a thought....

PS the other day I also said 'I do hope the current newbies have patience...' the fall from £1.65 to £1.25 suggests my concerns were warranted!

For not responding to your question...but I am delighted to say my new learned friend Lobb3r did a considerably better job than I ever could of answering! Chapter 11 primarily exists in the US for corporate restructurings etc and it's hard to believe that should the new combined entity continue to abuse / infringe CPX's patents, then we will come after them as well. This must be done, as I have said countless times,a s without patent protection, our IP would become worthless and then we really will have very little upon which to hang our collective hats! Luckily, it would seem we all have the collective patience of all the saints....as this seems like its going to run n run....more luckily, it seems like Tesla is 3x more valuable than when we started the case against Maxwell, so they have plenty of cash to pay us...:-)

I see your 60% and raise you! Just....I couldn't agree more re the constant lecturing....and schadenfreude is such a good word...but...let's allow him time to come back a better, more balanced poster....

...PP1 has many faults, as do we all. The move in Boo shares will remind him of his fallibility and you've all seen my run ins with him (I think I have been filtered by him!)...but in fairness he has tried to provide a decent 'story' about why invest in CPX even if it has been a bit cut n pasty at times. And equally, there is very little coming form the company as per bloody usual to keep enthusiasm high. So give him a break - rubbing his nose in a 40% fall in one of his declared shares is stuff of the playground and I thought we were better than there here...except in the gentle pi55take of OS to whom I still owe a £10er!

With quite a lot of stock changing hands. I’m not expecting any news soon so i hope a few of the newbies are rather more patient! Dick will email you when i get back from missing pigeons!

...would be in the shape of a rockrose type takeover for JOG...all short term holder see a £3.50 bid and think yippee. Would really pi55 me off!

Longwait - you've sussed me! I am being mischievous of course, but what I am trying to suggest is the value of the assets is so far in excess of the current SP that a move from £1 to £1.30, whilst undeniably preferable to a decline from £1 to 70p, is still a mere blip on the longer term hopes, aspirations and expectations. Of course for a day or short term trader these are fabulous moves and I begrudge nobody making his or her 10 or 20%. For me, this asset offers a life changing opportunity.

You ask for a balanced view - but I'm not sure how to give you one! Longwait wanted to know how I arrived at £140 SP target - so let me explain the optimistis view using only data and the top end of expectations.
JOG has c 130mm barrels of oil in Buchan and in its latest company results said it may have a further 200mm barrels of oil.
Woodmac, one of the foremost OIl analytical groups out there have a 2025 target for crude of $60-$80/barrel. Morgan Stanley recently suggested we might get to $180...
JOG said cost of getting oil out of the ground = $30/barrel.
JOG has 22mm shares outstanding.
So, using simple maths and the very top end of all optimistic expectations eg OIL at $80/barrel, 330m barrels of oil and assuming they do a deal whereby they give away 1/2 of all barrels to pay for the development and extraction we have :
$50/barrel profit x 165mm barrels divided by exchange rate of $/£ 1.30 and 22mm shares.
50 x 165mm = $8.25bn. Divideby FX rate = £6.4bn. Divide by 22mm gives a SP of £288.
Then for ****s and giggles 1/2 everything, gives a SP of £144.
And we get excited by a move from £1 to £1.30...or 55p to £1.30....
I can find no other stock anywhere where the blue sky is like it is here. To counteract, we may never see oil above $50 (tho if you read my posts when it was at $20 I was suggesting we are creating a great supply shortage)...we may not do a deal with anyone and cost of getting the oil out might be way more than $30. So. upside £140/share. Downside Zero. And 55p of cash in the bank. Seems a good bet to me.

There would appear to be no stock about...tried to buy 10k at £1.20, no offer, then 5k then 3k....interesting Mr Bond.

I think its more than that Longwait...as your name suggests, you might have the attention span of something greater than a gnat, which is way beyond most day traders and spivs especially on AIM who love to swarm on to the next great thing. A bit like a puppy with a new toy, play with it and then discard when it gets a little dull. The market is beholden not to value but to noise - look at how Hertz shares were traded from $1 to $6 after it announced bankruptcy filing and the senior debt was changing hands at 30c in the $. The equity is worthless, but if you can buy something and persuade someone else its worth more than what u paid for it, who cares?
Our greatest risk for JOG is a cheap industry takeout thus preventing us from realising anything like the full potential. I used to think any bid under £10 would be thrown out, now sadly a £5 bid might get thru....and I know everyone thinks I'm daft to have a £140 px target but the maths doesn't lie, IF (and its a big IF) all the oil exists that JOG thinks and the OIL px in 2024/25 averages the $60-80 that the latest Woodmac report suggests then its in the ball park!
Ho hum!

Why the move in SP today - Simon Thompson has reiterated his optimistic case...he's only going for 5 or 6x current SP, unlike me who remains stuck out on a limb with a £140/share target!
https://www.investorschronicle.co.uk/comment/2020/06/29/bargain-shares-opportunities/

I do think it is more a statement of the current life on AIM where various darling like Hurricane, Sirius Minerals et al have lost their owners 50-90% of their investment despite great promise of the sunlit uplands. I am sure that were this stock on Nasdaq with this newsflow it would be worth in the hundreds of millions of $.
The other point is the chart - we have a very interesting technical pattern emerging - you can draw a line from the low of March '20 and thru the low of June '20...and one from the high of Oct '19, May '20 and June '20 which gives us a descending triangle pattern - typically a pretty bearish pattern. Add that to the fact that all 3 major moving averages on the daily chart (20, 50 and 200) all lie between 1.35 and 1.55 and it's pretty obvious we have a major break out coming soon. I've gone way too soon paying £1.38 for a few shares the last week but a clear break of 1.55 and then 1.70 would be a v bullish sign. Sadly, Mr market does not feel that the recent news warrants such a move, which means I probably have to get back in my box!

Agreed all! So I have gone and bought another 10k at £1.40...the news of the past week and my very patient nature (hahaha) make me feel that someone, one day will see value where we do...

Well I am not sure Chester...the SP seems stuck with a lack of follow through interest. I'm not sure quite what Reneuron has to do to get the SP back above £2...which I think is roughly my b/e! I own plenty and think it remains the most likely of all my AIM 'hopes' (they are not investments are they, really?!) to make a meaningful difference to my life (thru a rising SP) and the lives of the patients it hopes to provide with a long term solution to their underlying health problems. However, it might be evidence as I have previously suggested of an improved cashflow outlook so that we dont get a further significant dilution. I still pin my hat on the fact that directors were buyers way above here and their option strikes are at multiples of the current SP...
On an aside, the market maker 10% bid/offer is a real pi55-take and probably as good a reason as any why we don't see more flows...

TD - we know the company is short on cash...and we know it needs to pay its staff...I think it shows a degree of 'this is what it has to be' - itis in order to survive as a going concern. The SP grant is 3.38p, which with shares sub 3p mean they are already getting a 15% pay cut immediately. It does mean the powers that be have a huge vested interest in getting the SP up which must be god for shareholders, no? I'm sure the directors would much prefer a steady salary, like the rest of us...I'm equally sure, after a raise at 8p and 3p, there is no more coming back to shareholders unless they have a plan so cunning they can put a tail on it and call it a weasel.

Well i've bought 10k more at 138....soon will be holding a few too many but as per my post earlier, the SP could double and we'd still be cheap! Time will tell of course, but there does seem to be an awful lot of good 'stuff' going on.

Well Chester, you've pinned well :-)...The only thing I would love to se is more granular detail. I am sure reneuron will not need more investor cash due to these parenerships / collaborations etc, but I am sure the market would welcome clarification of such. £42mm market cap is simply the wrong price and I'm not sure the addition of another zero would even value the company anything like where its peers in the States seem to trade...I guess we have been patient for so long what's another year or 2....good news today tho for all that.

PP1 - you make 8 dare I say it interesting points :
Murata purchase at an excellent price with ready made customers - tick (tho as I have posted before it wont get valued as a growth investment if it doesn't increase- exponentially - its sales of said Murata production)
Moving HQ - sensible and VFM
'the chance' to grow more customers - yep, tho you can equally argue they've had that chance for the past umpteen years
3 heads of sales - mmmm - I think they have 3 salesmen tbh. I'm the head gardener at home. i'm also the only gardener.
More use of supercaps - yep, that's why I'm invested. Tesla may, it might not, involve supercaps. heads you win...
Will win the court case - love the optimism. You may well have much more court case experience than any of us, and whilst David does occasionally beat Goliath, if Goliath is worth over 100bn$$ and David is worth 2 bob fifty, the odds are stacked if Goliath chooses to delay, and delay, and delay....not fair but...
All profit can be re-invested back into CPX - probably not your wisest statement of the 8. Where else is any profit going to go? Unless into the back pocket of the CEO, it aint going to be paid out to shareholders.
I love your optimism. I really do. But the 2.8p current SP tells me that investors are waiting for rather more than hope of execution. All I ask for - and its pretty simple - is evidence that CPX can transfer i-o-i's and orders into transactions that turnt he company's financial fortunes around. The last 5 years it has existed purely on the whim of its long suffering shareholders and r+d tax grants from the Australian govt. neither of which are long term successful formulas.
Again, bon chance and keep the flag flying.