Member Info for PC01

I do so hope your are right James. Its taken a long old time this chap....sunlit uplands always just out of reach! Still for the first time ever, i dreamt last night about CPX shares - they opened up at - v weirdly! - 56p (one aforementioned target lvl but how weird the mind remembers it in a dream! I keep getting research from Allenby talking about cheap and 13p tgt....i'm still of the view its either zero of much higher than that. Good luck all - i gather its raining in Cornwall so heat going to leave us soon!

This is getting silly - let me remind you of your posting history :
16th June - Just topped up another 3,500 shares .
14th June - Goldman Sachs have raised their forecast oil price to $140 - $160 range for this year despite risk of a recession . Great time to be holding Jog !
13th June - A decent £247,000 trade went through this afternoon . It’s probably Bob and his family loading up again . Well done guys .
13th June - MM playing games , dropping the price to fill a buy order . I got in this morning at 8am and paid 3.01 for my top up . Hold tight there’s not much free float . Wait for the RNS , these will double at the absolute minimum . Happy Days !!!!!
10th June - Oil prices are not coming down , more likely to increase . Supply constraints , govt tax policy on new investment have made Jog a safe investment . It’s been a waiting game , patience will be rewarded . Very happy holding Jog shares , recently sold my other investments and bought more shares . Farm out news could land any day . Happy Days !!
9th June - If a FO news lands this will pop and price should hit at the very least £6 a share, all depends on the deal .
9th June - Warming up here , limited shares , MM are short , this is ready to Pop !
9th June - Topped up Couldn’t resist ha ha
9th June - MM short of stock , dropping the price to entice weak holders . I Just tried selling 10000 shares and immediately got a quote . Of course I would be stupid to sell especially as we are so close to a FO .
9th Jne - Exactly this is significantly undervalued . You’ve got to be stupid keeping your money in the bank . It’s a certainty they will get a FO partner . The question is how much , some of our senior respected statesmen have their own ideas . I will stick my neck out and say £300m min ?
8th June - Bugger all , they own the GBA license which has proven reserves , I’m talking millions of barrels !
7th June - Motoring nicely ahead . Next leg up will be 290-300 ish . Great time to hold this stock , FO news could land any day . You don’t want to be out if this in the meantime .
I could go on -
4th May you buy back in - Market sentiment has improved . This looks like a safe bet
hen all through April you were ont he negative stance - this quote on 27th April is illuminating -
Hi alsop the only deal our bod is looking at in the present climate is a rights deal !. The board are only interested in a dilution to strengthen the cash position to pay fir their generous salaries .
Now lets look at the Share Price :
April £1.60 > £2.50
The May ramp up where u get excited...
And then today's nonsense where you discuss being duped and back t being furious at the board.. I was serious the other day when I told you to read about the psychology of trading. It will save you a lot of money. the key to investing is to buy low and sell high, not as you seem to like doing the other way round.
Right. Peace?

I have no frustrations to vent. I've been invested for 5 years now. i have seen 30p and £3.50. My average cost is c £1. I'm truly relaxed. I do however get quite pipped when people like you and brigss start all these ridiculous accusations about the board and how much they trouser for doing nothing. You need to be very careful when you spout on matters of which you know little. This is an intensely complicated matter - with so many moving parts (not the least o which is the govt changing tax planning)...but over the past 3 years alone oil has been -$20 and +$120!

JS I truly believe you should read your last umpteen posts...starting from this is a joke company why does anyone own it. Through to this is going to rip...must buy, cheapest thing ever...to why is this going down...and then back to 'I was duped into thinking'...whilst spewing out the old nonsense about the baord taking large salaries doing f*** all to earn it.
3 things spring to mind
You have done no thinking
the only person duping you is yourself
And using the great line from the Hangover - you are too stupid to insult.
To which you are meant to respond 'Thank you'.

Without wishing to sound pompous, arrogant or anything else...JOG is a < £100mm O&G exploration company. The recent rally up to £3+ was caused by many folk expecting news to drop today / tomorrow/this week/ next monday call it what you will and jumping on a band wagon in thin, illiquid markets. the pull-back to £2.45 today is caused by said day traders and fly-by-nights simply getting bored and easily stopped out by the market. Nothing changed to get it to rally to £3.15 and nothing has changed to get it to fall to £2.45. Just sentiment. We'll either be up or down tomorrow and still the scenario wont have changed. You should read about the psychology of trading...its fascinating. You yourself were bearish as hell, then had a damoscene experience and became JOG's loudest cheer leader. Now you are uncertain, long the stock and probs 10-25% down and thinking...whats changed? What if is a dud as I always expected? Should I cut now? Can i afford to lose my investment?
Which is why I have tried to be consistent. Big project. takes much time. With great patience might come great reward. But its not for widows nor orphans this stock as we have seen when the chancellor throws taxes at the sector and associated bombshells. I suggest James if you liked it so much at £3.10, then 30% lower you should love it. But it's hard buying more here, isn't it? Psychology....:-)

From the dark days of 30p to the good days of today there’s been about 8 of us posting on here. Dick the sage who’s a little cross with our great leader but might yet thank him, Ajax who has gone missing, Abatt Bob n his son who’ve hoovered up the cheap shares and now own 10% and a few other chancers! Then in come the cavalry- lovely to have you here. Come in the waters warm. Remember these numbers:
160million barrels of oil
Cost of extraction $30
Current POO $120.
All else is conjecture- how large a % does JOG need to give away to be in for free in the production of that oil.
$90 x 160million barrels = $14.4bn. For every 10% JOG can keep its ‘worth’ $1.4bn or £1.12bn. Now accountants like Dick will talk about PVing and NPVing cash flows. But the mkt cap is now £100m. We are so far from true value it’s a joke.

With Brent now at $122, and rising after huge inventory drawdowns at the SPR (the US reserves) and Goldmans talking about $140, JPM at $150 etc etc...JOG is ideally placed. With a new partner only paying 9p in the £ for their capex, and with oil at this price, the mathematicians amongst you should be able to realise the goldmine the company is sitting on. i said it a few days ago, i'll say it again. There is no better geared company in the CNS - and £3 as you suggest James, whilst on the cards maybe as early as tomorrow, is by no means the end of the road here.
Just go back 2 years. $30 was the estimated cost of getting the oil out the ground. It must be closer to 50 given all costs have risen. But with oil on a multi-year bull mkt caused by a shocking lack of investment (and not just here in the UK) as well as every evidence that US shale simply cannot pump in the way it used to, i stick with my view (not shared by all) that we are at the very foothills of our own Mount Everest. Base camp is £5...!

Morning Dick - we have to stay optimistic (re your comments at the end of last week!)...I am interested and indeed heartened to see Arden come out with some research today whereby they are seemingly rather more bullish on the prospects for JOG and the efforts to find a farm-out partner because of the tax rebate for capex....and am equally interested to see oil at $120 this am. Or just a $90 premium to anticipated cost of getting the stuff out the ground. Onwards n upwards I think for both the POO and JOG. No losing heart after all this time!

Dick - you and I have broadly agreed on much of what JOG has to offer over the years and indeed have met the once! I hope again soon - maybe the £42 party we’ve laughed about over the years.
But for once I’m going to disagree with you. Whilst Sunak is trying to appease those who view his appointing the top 100 richest men in Britain - the tax he has thrown at Oil Co won’t - at all - impact Jog despite the negative headlines. I do - for once - truly believe that the ‘invest or get taxed’ incentive actually means JOG will be in much more demand than it was. It’s cheap by a factor of at least 3x and if I’m right about $150 oil then by 5x. Not a seller here nor for the next £5 higher.

I think the point is very simple. Yesterday they were not in receipt of a binding bid and as the directors were in a position to be able to buy stock, they felt the current price of £2.65 where they traded was too cheap a level to ignore in their opinion. They have said - very clearly - they are in talk with multiple interested parties - eg more than 2. Who knows if / when one of said parties decides to sign a full agreement. The main point of this is you don't buy shares in your own company just to make 10 or 20%, especially when you stand to lose a majority of that (and maybe your salary) if you fail to get a deal done.
So all good here - shares still cheap (the directors think that patently) and OIL still nowhere near the top. Love to see the news yesterday of the US looking to refill their special reserves and buying 90mm barrels. Just wait when China wake up and remove these nonsensical covid restraints. Then $150 maybe higher. That is going to eb the key support for future value creation here.
Loving it.

I think I probably speak for the majority of this board that I’m not sure anyone cares what you think or how you are invested or not. Then I’m probably the only chap who hasn’t filtered you !
Re option grants of yesterday - I think we should probably assume that means no deal for quite some time. Worries me not - with the EU stopping russian oil imports by the end of the year by which time even China will have to start thinking about reopening then Oil should continue its move to $150…and the economics of this trade looked quite exciting at $80!

our friendly troll when you need him? It is amazing how they disappear when the SP has a day or 2 in the sunlight and then crawl out from underneath the rocks when we drift t'other way! Dick, I think you've been remarkably circumspect in your language, i imagine your bow tie was spinning round in circles!! All good it seems here...not sure my generic impatience can stand waiting much longer for news, but someone once said good things happen to those that wait! I still think OIL reaches $150 this year and perhaps as high as $200 once India starts to realise it will become a social pariah if it keeps buying Russian oil. That makes the maths of this project much more exciting!

Sorry interrupted by far thumbs! But a producing oil field and seek to develop Buchan on their own? Be painful in the very short term but maybe where true riches lie?

Too much food allegory! Left field thought - which will infuriate many especially as I have been an arch bull! What happens if the board, emboldened by their calculators which have got lots of 0s on them come to the conclusion that any deal simply does not reflect their own value of the company…that any offer they have leaves them with too little of the sunlit uplands? And they decide to raise £££, but a producing asset

I think we have to assume that Jog is going down the carbon neutral route. So feel - however attractive it might be given current oil prices that we are unlikely to put an old drill in place. Re future oil prices - if we remind ourselves that oil was at a -ve prices just 2 years should after the Saudi /Russian stand off then we’ve come along way. Those who I’ve bored will know $100 was a long term target based purely on supply n demand - and is probably an acceptable level for all concerned in and around opec. The risk obviously remains that Russia goes rogue and oil goes parabolic but then we’ll have a lot more to worry about!! Lovely tho thus last weeks SP move has been I stil think we’ve barely reached base camp given all the positives expounded on here over the last couple of years. Luckily tho we’ll be able to buy more at 60p apparently…

G f y mr contrarian.

Or you could say another $10 on price of crude adds a further $1.7bn to the NAV! Who knows might eke out another 10p rise!

Yes very nice close to the week. Would quite like a positive announcement to keep the momentum going - but I am delighted that we’ve left £1.25 behind! Fingers crossed forever! Good weekend all.

Just watching the news tonight - it’s pretty clear that Russia will be an international pariah for many years to come. Urals crude is already trading at a $20 discount to Brent …being bought mainly by the Indians n Chinese. I could not agree more re security of oil n gas supply …and of course make these ‘absurd’ views on the value of Jogs asset really to underline the equal absurdity of the current SP. whether oil can stay above $100 for the foreseeable future is a moot point but for those on here who gave bothered to read my nonsense over the past year the world has Been sleep walking into an energy crisis because of its fixation on ESG policies which are well intentioned and complete misguided. It doesn’t help when you lose such a large provider of the western worlds oil n gas supply almost overnight at a time when we were about to experience the first ever time when demand was going to outstrip physical supply. I think Mr Benitz will be a v happy chap.

Just reading JPMorgan suggesting Brent will reach $185 if Russian sanctions remain. Sounds about right. Would add another $10bn of value to JOG's assets. Might even see the SP breach £2 if thats the case!