Member Info for PC01

No debt, cash to last til end of 2021, within 3 months of deciding concept selection and thereafter a farm out. Oil finally realising there will be life after Covid 19, still think we have all the ducks in a row for a very powerful rally in the oil price back to $100/barrel as demand starts to grow and production sink. 'orrible current share price completely unrelated to value but as relaxed as can be with a great management team keeping costs under control.

i keep thinking that JOG is uniquely placed. it has no debt. it has cash to keep working in the project for another year. and the huge collapse in demand for oil will lead to a unique squeeze in 1-2 years time when we emerge from this depression (sadly rather than recession)...US GDP -4.8% in Q1 and likely -25% in Q2 ain’t no recession.
but mankind is a resilient creature and the recovery will come. For JOG the absolute level of SP doesn’t actually matter. it’s not great for sure that 125mm barrels of oil are valued at nothing but then last week we saw - thru a fluke of futures market fun and games - it was actually worth less than zero! So who’s to say today’s price on that basis is wrong! However i think sanity will prevail and as the oil price starts to react to production cuts which meets an uptick in global oil demand then JOG will be able to extract said reserves and some value from them for its shareholders...but hard to see a catalyst today that sends the shares rocketing back up i would also agree!
Long winded. Apologies.

That's right. blame the keyboard...poor thing can't even defend itself :-)

Yep, all a bit weird...as - hopefully - all of you know I have been a massive fan of this company for far too long and at all sorts of wrong prices...but I do generically prefer SP rises to be accompanied by news rather than hot air as what normally follows is more selling as those tempted in by 'this time its different' move on to the next hot potato...fingers crossed and thks for the repsonse.

I usually find some lubrication and a new screw tends to solve the problem of 'done in nuts' MC :-)...

Lumpy old trade posted at the end of the day?

Thank you for the informed responses yesterday...next question. If someone has been working an order to buy a stake in the company, how long do the market makers have before they have to announce the trade...if (big if) this page is right, there certainly doesn't seem to have been anything like the buying to justify a 50% rerating (apart from the usual soliloquies that it's cheap, Covid is coming under control, Australia is reopening, all building of the factory on time etc)...or will we just see a trade post of 5mm shares at 3.25 say appear in a few days time?

To what is this NT that is referred to on here?

So it seems 2p finally been left behind (hopefully for ever!). Next major hurdle is right here with the 50day moving average @ 2.65p, then we have the 3p placing where I think resistance will be heavy...unless news starts to flow. Finally, a long haul back to 4p where the 200 dma resides. For those of us dreaming of a return to 12p and beyond, today's move is of interest but worth nothing unless the interest follows through. But as a few have said, provided (god thats a big word) they can build out the plant in Australia (and good to see the lockdown being slowly removed there) on time and on budget then as we head into next year, we can start to build out projections where the company actually makes money. Now that would be worth cheering!
Good luck as ever to all.

I don't. Like everyone else, I have no idea of the likely direction of the SP over the next 10 days, given the uncertainties of Covid 19 and the oil price. What I do know is that mathematically it makes no sense for a new buyer to bid up the shares just to get a 6p dividend of which I would have to pay 25% away in taxes, unless of course you could guarantee that the SP would not fall by the 6p on ex-div date?

Without wishing to be shouted at again by Mr Blueril - who's response wasn't actually that unfair tbh, as it wasn't a very well written question by me......the SP reaction today makes quite a lot of sense. If you buy the shares today at 22.5p, you will indeed be entitled to a 6p dividend which does give an optically rather pleasant 25%+ return. However, you will pay tax on that dividend if you are a UK tax payer and the share price will likely open the day after the dividend has been paid 6p lower, so at 16.5p...roughly...leaving you with a 30% loss on your investment but with a 6p dividend on which you may have to pay 1/4 (1.5p) away on tax. And the company subsequently has less cash and remains - sadly - at the whim of an excessive oil production cycle at a time of a collapse in global demand.
I can't get my head round whether another share buyback at 30p might have been a better use of the company's money? Market cap of £100mm, buying 27% back (cost of dividend) if the company thought the shares were truly cheap at these levels? Or maybe the major shareholders need to see some sort of return...who knows. Anyway, good luck all and apologies again BR, my intention was not to wind you up more to get down and dirty to see if SLE was worth a re-entry...which I missed!

Afternoon all - its been a while. I currently have no holdings in SLE (having held a large amount) but have been reading the reports and all seems good once this devilish oil price recovers...think that happens in Q3 when demand starts to pick up as economies emerge globally from this government induced economic coma. I have an apology to make as i was one of the big sellers higher up - I admit to be spooked by the poor SP performance and lack of comms from the company, but in the 15-20p range, this looks a decent level to be getting involved, no? Assuming we still have unfriendly fire from the saddos who'll laugh me out of court, this looks like a 50-100% upside trade over the next year? All thoughts much appreciated.

is not the bulls or the bears...its the pigs...its very difficult for CPX SP to do much if the market makers persist in quoting 1.7p-2.2p...or a 25% bid/offer...I'm sure there is 'liquidity' within that (I don't have access to Level 2) but purely from a glance, its a bid/offer that is designed to stop the flow of business not encourage it. If any of you MMs read this (they won't) get a grip, grow a pair and quote the stock on a 0.1p bid.offer.
There we are, rant over!

A rapidly emerging technology attracting significant investor and pharma company attention. Oxford-based Evox Therapeutics recently signed a multi-target collaboration with Takeda, to use Evox’s exosome technology as targeted delivery agents for Takeda's protein replacement and mRNA-based therapy payloads. Evox may receive up to $44m in upfront, near-term milestones and research funding, and in total up to $882m in upfront, development, and commercial milestones, as well as royalties on net sales of each product that reaches the market. Similarly, Codiak secured a multi-target agreement with Jazz Pharmaceuticals in January 2019, to use Codiak's exosomes as delivery agents for potential therapeutic agents in oncology, also on substantial terms: $56m upfront, up to $200m in milestones for each of five targets, additional pre-clinical development milestones up to $20m, and royalties on future net sales. Prior to these deals, both private companies attracted significant investor support, with Evox securing a £35.5m Series B round in 2018, and Codiak securing a $76.5m Series C round in 2017. We note that both of these pharma deals with Evox and Codiak were also at very early stages of development, even before pre-clinical studies, so not dissimilar to ReNeuron's now two collaborations.

Its getting a little more exciting again.

That’s a very hush hush RNS! No name no numbers! But good news...deal rushed thru methinks before NDA signed!!

I would like think that was the final crescendo of his lordships selling? Quite rare for this volume to be going thru but it might be that at very long last we can start to add..I dipped a toe yesterday ....which is about all I have left to dip!

I think Open assumptions are dangerous in this febrile world. The last press release suggested all progressing, with the first shipment having left Kobe and en route to Sydney. The company has plenty of cash to last a 6-12 month delay given their cash burn and the future R+D payments they are expecting to get. I would think if they mothballed everything, equally that would be something of which they would have to inform the market. And if the Aussies can frolic on Bondi beach, I'm thinking they can continue to build a factory (!!) - joke! Afraid we are in the lap of the gods here but not sure much point in trying to sell and then get back in so either sell and take a 75% loss of just wait for the sunlit uplands. I know what I will be doing...

Mr Haynes is a non-executive director of Woodside Petroleum Limited and Worley Limited. Chris has a wealth of experience gained from a 39-year career with the Shell Group of Companies and their affiliates where, in 2008, Chris assumed responsibility for the delivery of Shell's major upstream projects worldwide. He retired from Shell in August 2011.



Subsequently, Chris has worked in oil and gas exploration and production, LNG and chemicals businesses, primarily in project development and delivery, and in operations. Chris graduated from the University of Manchester with a Bachelor of Science degree with Honours in Mechanical Engineering and obtained his Doctorate in Applied Sciences from the University of Sussex. He is a Chartered Engineer and Fellow of the Institution of Mechanical Engineers in the United Kingdom and also a Fellow of the Institution of Engineers, Australia. Chris was appointed to the Order of the British Empire in June 2009 for his services to the British oil and gas industry in Nigeria and is also a Fellow of the Royal Academy of Engineering in the United Kingdom.

Our little company is doing a great job of just 'bu55ering' on as the world falls apart. This looks a great appointment. As predicted last week, Russia capitulating. Oil bouncing and whilst there will be a huge excess of the stuff in the near term, as we get back to what will be the new normal, its very easy to see the price recover $50-60 by the end of the year. And given the only way out for the world is a huge inflation shock to get rid of all that debt, I truly think 3 digit oil by 2023-24 is really quite possible.
JOG remains a 5yr trade from here. And by the day its lack of debt and very competent management team make me feel increasingly optimistic that I will be joining Dick n Ajax and others at the £20 party!

definitely a buyer out there picking up quite a bit of stock....which is good to see...For the first time, my baby 2p top up purchase looking ok!

Someone was having a rant about a lack of updates yday. We got one a couple of weeks ago and in the view of the board all is proceeding on time on budget. If there are Covid 19 incurred delays I’m sure we will be told. If there are court updates we will be told. If there is anything meaningful to be told, guess what we will be. Remember AK and his fellow workers gave substantial skin in the game with options n equity providing a large part of their income. We are all aligned. Just relax and stay safe!

I think you need to be slightly careful....what was wrong? The fall from £3 to 70p over the past year on nothing other than good news (in my view) or the rally from 70p to £1.10 as markets recover some poise? Shell and BP and Carnival all rallied 25% yesterday and no one suspects anything there...just a bounce. Same here, got too cheap and a few buyers step in.

15%/day for a month should bring a smile back to my face!