Member Info for PC01

It seems ever since Dave Richards has pulled up his sleeves and moved form the CEO office to running the sales business this whole story has turned around. The outlook is very very bright. My £20 IBM takeover target looking less idiotic by the day!

Served with a topping of hope? At last, beginning to show some decent numbers...Like many I got on board what 4 years ago...been a ride...still have inked in £20 buy out by IBM as reason for initial investment. Fingers crossed!

so - quotes just coming out re importance of energy security....wish they fkin knew what that meant rather than soundbites. How do you have energy security when you want oil cos to take all the risk of getting the stuff out the ground and if they make money you'll tax the living daylights out of them. no joined up thinking! Grrrr.

With you there Leem1. Have gone through huge quantities of shareholder cash and goodwill. The only silver lining is when you've lost 90%, the share price fall of 25% doesnt add up to a bag of beans. the fact that a company that is meant to have state of the art exosome tech which as I understand it it is at the forefront of bioscience at the moment cannot raise any meaningful shareholder funds means its pretty much done. Will watch it wilt on the vine and right it off against all those capital gains I have...oh wait :-)

I think your thoughts yesterday were rather more spot on. No CEO of a listed company would be allowed by his nominated advisor (Nomad) to put out such a clear time line (if not in 2022 then definitely in Q1) without seeing a legal document to that effect. We the shareholders would be able to sue for all sorts of nonsense if by March 31st 2023 there is not a deal signed and sealed. So it’s there in black and white. And back to simple maths.
To wit - still think oil trades aggressively above $100 next year. Just need to keep a clear head, ignore the guttersnipes the end game is in sight.

I think you have this spot on @greener101 - AIM is pretty hot these days on misleading announcements, so the Nomad would have demanded a decent look at some sort of heads of Terms agreement I reckon to allow Mr B to have made this announcement.
re seller - it doesnt really matter does it. the share price will get to where it needs to one day. I have my patience hat on and a slightly bigger spring in my step today.

Interesting word 'unjustified'. What the house broker cannot write is 'the SP has slipped as the year progresses and shareholders have been kept very much in the dark. As a result, a few have lsot their nerve - unsurprisingly - and have sought shelter elsewhere.'
I've been advising patience for what seems an aeon and maybe today we finally get to have a finalised timeline. I have a great deal of sympathy with the board having to deal with all the uncertainty of govt policy made on the hoof, must have made it all very hard. In another world, it might have been better for the company to have sought suspension for its shares when they were trading at the highs - thats me having a joke by the way - as I'd love the news to break with the shares at £3+ rather than £2 where we are today...tho no doubt a healthy bounce incoming today. I wonder how our resident sewer rat will comment today?

I am 99% sure - if they have signed NDAs etc - they’ll be in close period. Be nice tho to see them hoovering!!

Sounds like one of us going to be in trouble!

James - you seem to have 2 persona! Do you really believe a £300k salary is excessive for the CEO of a company that has put the hours in that he has? Remember the mini lecture I gave you a while back about the psychology of investing. Buy when others are fearful and let them have it when the rampers come out in all their glory! There is no new news. There’s a few small PIs selling out having rushed in on the ramp up to £3.50 and regretting their over optimistic view of the likely immediacy of a deal!
I’ve bought a few more here and yday at £2.30. I am no lord informed than anyone else but - and here I come Dick re your call for me to appear from the sidelines - my view on the likely oil price is an average of $100-$150 over the next few years. So I’m still of the view that Jog and its assets are a steal here!

You've not traded JOG very well have you? Consistently buying up at the highs and twice now selling down at the lows (tho who knows if 2.30 is the low?). I think we have spouted many times on this board that some of us have occupied for aeons that patience will be needed. This isn't an easy deal, especially with the future returns being complicated by our wonderful government. But TO THIS IDIOT (ME NOT YOU) the balance of probability leaves me to believe that a deal is in the offing. It'll be a v expensive error if I'm wrong!

Yes, just need to produce 1/ day for next month and get same SP reaction and I'll be about A/s!

Hiya Afish - the great unknowns - are a plenty. Who knows what the govt will do - pretty safe to assume they'll get it wrong whatever they do if recent pronouncements are anything to go by. As I understand it, the rules that Mr Sunak originally introduced were very advantageous for any would-be suitors of JOG as any Capex could be claimed back under 92% tax relief. Basically meaning any investment would be almost free (with I guess the view that you lump a soddin; great tax bill on success, but you make building the damn thing as cheap as possible)...I actually thought the idea was a very good one to try and increase investment in the CNS. Not sure if anything has changed, but given we had that quick 44 day outbreak of lunacy, who knows?
The more I read, the more i think oil prices are going to be here for a considerable period of time, so I'm pretty sure we are in good hands at the mom (with our dear friend patience on our shoulders). Plenty of cash and from what I can read between the lines the likelihood that any deal will return to JOG a decent windfall to pay for existing works done. So I do wonder if JOG might be thinking of semi- going it alone (will send shivers up Dick's spine) as they buy a few producing assets with that cash they receive. I have no doubt the best return to shareholders is for JOG to keep as much of the management of Buchan in house, but equally have seen fortunes won and lost in the oil mkt over the years as the oil price has a habit of making fools of all of us (anyone remember -ve prices just 2years ago?).
Not long now...he says...!

Not sure ban on fracking v good for oil prices...but defo good for JOG....makes a bit of a mockery again of what Truss et al were up to!

what i think is the most important announcement YTD for JOG happened 2 days ago. OPEC basically said to Biden OIL is not going below $90. Capice Mr Biden.? and the US SPR is at its lowest levels since 1984. For JOG, they can with confidence pencil in $85 as a sensible average oil price for the next 2 years and maybe longer. Remember we've had no chinese demand this year. What happens to oil prices when they come back on line? I dont buy demand destruction that some have been talking about. I'm sure the $30 cost of extraction must be 25% higher...so pencil in $40 cost. But pencil in sale price ditto that much higher. When they started the project, I'm pretty sure long term market expectations for Brent were c $55-60. So whilst costs have gone up $10 (my thoughts, no company mention of this but allows for inflation at 10% for 2yrs) future receivables have gone up $20-30/brl.
Happy days.
PS, patently obvious a Saudi / Russia alliance is a pretty horrible one, so the happy days bit is a little mischievous.

Hahaha - Its a bugegr when that happens! I think I said a while back, if it blows higher, we'll all wring our hands and say it was so obvious, why didnt we have XYZ more shares...that said, mkt cap still only £110m. 100m brls of oil down there - at least - $50 profit / brl (at least) ... they could give away 90% of the economics and still the SP would be cheap. Still v lovely rally.
re leaks - I just think, all along, this is a very well run and orderly ship. the one time they had a leak (re the cap raise at £1.60) I personally have little doubt that fingers pointed very clearly at one of the funds who were asked if they'd be interested in adding and used that info to no good at all. A lesson learnt then I reckon. I have my wish tho. News can come and the SP at the highs makes for an interesting few days n weeks. Now, where is ole John Briggs?

Not sure its that steady! Up at £3.30 a new high. Intersting times. I'm 100% sure there is no leak so pretty sure this is PIs jumping on board. Which doesnt actually fill me with huge confidence given their ability to scatter to the 4 winds in a blink of an eye!

Evening all - been a while. Well the SP at 4p is a tad sad. Each year we think it’s happening. I still owe Open a 10-er from 3 years ago (I think?!) when I had the temerity to suggest CPX might be FCF +ve!
I remain long - c 5mm shares or so. Long and wrong but I still believe that the stars are aligning.
TD I thank you for your efforts and recent email and good luck tomorrow. It should be an easier call.
But to all of you best of luck. It’s hard to stay with an investment this long. Fingers crossed, Rodney this time next year ….!

Ha we have all been there! if the share price does what we hope (and like the answer of the meaning of the universe is 42, we have oft suggested £42 is about right here!) then a number of lives will be changed in a meaningful manner. Of course, should it rally as you suggest Greener, alot of us will be saying...could have and indeed should have owned more! I mean it was so obvious.....hahahahah!

Ha - is that you spending your money or Jersey? Very dangerous to presume the shares will jump post news tho we'd all like to believe they will. Tho the whole project will then be derisked somewhat! Am i alone in wondering if JOG might be bidding for these gas license coming up in CNS?