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Worth re-reading these articles discussing the Greater Buchan Area when it was up for grabs. This is the exciting opportunity which can be put into production with tie backs to existing pipelines..........which JOG was awarded.

https://af.reuters.com/article/commoditiesNews/idAFL5N1ZU7G7

https://www.energyvoice.com/oilandgas/north-sea/191724/buchan-area-plan-viable-without-new-platform-analyst-says/

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Simon Thompson in his IC write up also intimated that there will be lots of things happening ahead, and you imagine he spoke with the company and perhaps got the feeling we are going to be getting lots of news in the months ahead.

I think JOG is going to be very active on releasing RNS in the months ahead :)

Enjoy the ride.........going to be fun ! Hold on tight to those shares.

One would hope some of those multiple catalysts will be :

3D results for Verbier / Verbier Deep / Cortina / Meribel (all of the P2170 area)

Deal signed with Equinor

Reworked seismic and updates for the new license areas.

Deal with something/someone else.

Finally, the CPR in December.

Would make sense to update with P2170 first......ahead of the deal with Equinor and then update on the new license areas some time after the deal is done.

I think when AB said there are "multiple catalysts" in the remainder of 2019, it means we are going to get lots of news flow......this below from the results statement.

https://www.investegate.co.uk/jersey-oil---38--gas-plc--jog-/rns/final-results-for-the-year-ended-31-december-2018/201905200700204835Z/

Andrew Benitz, CEO of Jersey Oil & Gas, commented:

"JOG continues to benefit from our initial Verbier oil discovery announced in 2017, notwithstanding the recent appraisal well results. We look forward to delivery of the new 3D seismic data and working with our co-venturers on assessing potential future appraisal and exploration drilling opportunities on the licence area. Additionally, we are excited by the potential for a new area hub catalysed by the 31st Supplementary Offshore Licensing Round and the positive impact we believe this will have for Verbier.

"The Company benefits from a strong funding position and we are optimistic that we can create value for shareholders through our core asset base, with multiple catalysts that exist for the Company through the remainder of 2019."

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Only news next week should be, all being well, spud of Red Deer-1.

Monday 12th of August start watching for any volume spikes.

mp, thats exactly my thoughts. This 3 month period whilst Equinor cough cough "decide" if 104.5MMBO recoverable is commercially viable, is purely a time gap to allow certain large parties to garner lots of stock from the hands of the private investors. A clean up job to hoover the weak PI's out where possible.

Most privates always get bored easily, always think the grass is greener on another stock, get scared of not taking a profit - and often end up gifting their shares away cheap while the bigger gains are further down the road of the patient people.

QUOTE

mariopeter
26 Jul '19 - 15:11 - 2112 of 2116

Yes many ways to skin the finance cat Guys and outline funding plans will be discussed (if not already done) before Equinor come on board. I suspect funding will be much much softer with Equinor's involvement.

The West Phoenix rig left Verbier to another Equinor drill and here is the result:

https://www.equinor.com/en/news/2019-07-26-lille-prinsen-main.html

Two statements need reconciliation:

1) Equinor are considering if 5 to 25 mmbo (STOIIP)is commercial(see link above). and

2) The stock market does not believe that one pint of our 125 mmbo RECOVERABLE is commercial.

For newbies "Recoverable" is cc 40% of STOIIP and get out of the groundable.

The answer is small investors are being duped (very sad although day traders swell the freefloat) to sell their shares and the only way around that is press releases at the weekend and Equinor to RNS that they feel this hub is like JOG say it is and is commercially viable and that they are excited too.

UNQUOTE

There will be no fund raising in 2019 I am pretty well 100% certain. JOG dont need the money, they have 13m cash. No plans to drill at the moment.

They will wait for 3D results, Deal and then also the CPR in December.

Might then raise money in 2020, depending on the drilling plans. Nobody is going to raise money before their CPR is published. The big boys want a credible CPR before they part with big money at high prices.

2019 - 3D results, Deal with Equinor, Deal with others ?, December CPR........thats the events flow.

A question I would like to ask........

What is the deal with Equinor if it goes ahead ?

All we know now is that should the deal go ahead Equinor can farm in for 50% and just pay for the costs incurred getting the license.

But you do wonder if there is more to that....... so the question I would have is are Equinor going to pay for all costs to first oil ?

Two options :

Equinor funds all development costs to first oil and then JOG pays back from future oil production.

Equinor funds all development costs to first oil as part of the farm in for 50%, hence the only cash they pay is the costs incurred in the 31st SLR application.

Going to be interesting when the terms of the deal come out if/when Equinor farm in, most likely in September after August release of the 3D. I would be more than happy if Equinor fund development to first oil and then JOG pays back from future revenues........in effect a loan from Equinor meaning zero dilution to JOG........just giving away the 50% to Equinor in the first place.

2016 was the year of massive oil surplus.

Remember shale producers cutting back massively. Investment in oil and gas was slashed across the board and across the world. Oil price was never going to recover and peak oil was nonsense, the world was flush with oil and remain so forever more. That was 2016 and the time Buchan stopped as the operator did not want to spend money in a time where investment was being slashed left, right and centre.

Now of course is 2019 and everything as changed again. JOG have been nimble and focused and seen an asset that is very valuable but small enough to be under most peoples radar, an asset that was written off due to the gloom over oil in 2016 when all the big companies were slashing spending and nobody wanted to spend money on the small fry anymore.

Buyers of JOG know it. This stock has now done 4 blue days in a row. Yes, 4 share price rising days in a row. Pretty remarkable.

The churn is coming to an end, most of the weak have sold out. Still some to go, but getting less and less. The accumulate on dips time is now for most people - ahead of the next news.....which is likely the 3D results in August. However, at any time a fundy could decide to buy a lump and if they do, the price will jump with that while its filled.

My targets are :

3D seismic news in August. This propels JOG into the 250+ area.

Deal with Equinor in September. This propels JOG into the 325+ area.

CPR in December. This propels JOG into the 400+ area.

Just need to be patient and those who are are going to be richly rewarded imo.

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This will double again and more. Just dont expect it immediately. News flow will drive this and there is plenty to come.

The 3D seismic results are due soon. The deal with Equinor. More updates. The CPR end of the year. If they farm out 50% to Equinor, will they then farm out again ? Farm down their 50% to 25% for a free carry to first oil........ So many options. The big mover for the share price next is of course Equinor signing on.......when that happens that will be a 50% plus rise in a day of the share price again.

And of course, its still summer and lots of people are on holiday and funds are not strong in the market. When buyers return in the Autumn.....things will pick up as well.

Newsflow will be strong and each time the share price will rise upwards. JOG should end 2019 with a share price well over 450p levels.

be_a_Share_Bear.

Read the small print on any trade reporting page and they will say the buy/sell column is only a representation of the trade based on the price and the stated advertised buy/sell prices at the time of the trade.

Now, to explain it as short as possible.

An MM has 3 minutes to report a trade.

During that time the price may move. When they report the trade the automated computer systems can register the trade wrongly......and the buy/sell data is only REPRESENTATION, its not accurate and nobody claims so.

EG. The advertised price is 180p sell and 185p buy. I buy 100,000 at 185p. The MM then moves the prices upwards to 185p to sell and 190p to buy. They then report my 100,000 trade at 185p. The automated systems then say ok thats 100,000 at 185p and therefore as buy and sell prices are 185p sell and 190p buy then that trade was a sell. It was not of course.

This is why MM's have 3 minutes to report a trade, it allows nobody to know what are real buys and sells in times of heavy trading.

They can also delay very large trades 1 hour.........and they can delay filled order reported until end of day when the fill or kill is completed.

So, you do not know if a trade is a buy or sell, you can guess, like the automated reporting guesses, but its wrong a lot of the time. Share price up.....buyers are dominant. Share price down then sellers are dominant. Thats the only sure thing.

I think some big buyers will hold back waiting for Equinor to confirm they are in, but others are making hay now and filling their boots.

However, I think the news has been released like this to allow the big buyers to buy loads of JOG and clear out most PI's........and then Equinor confirm their 50% and the share price doubles again.

They want to ease the share price up slowly, so will release news slowly, all the time clearing out the weak holders and moving stock from weak to strong hands (eg the big boys looking at the big prize long term).

Yes, and if sells exceed buys what happens is the price falls and goes into the RED.

Amazing as it seems.........when buys exceed sells the share price rises and when sells exceed buys then the share price falls.

Hope that is easy enough to understand, I know its a bit mind blowing....... :)

Nobody knows whats a sell or buy.......prices are hidden, you only get a computer saying what a computer thinks it is based on mid-price.'

Note...the share price is up........therefore today, so far, buys have exceeded sells.........else it would not be blue and the share price would be lower.

MM's doing their job, shake it all over the place, up and down, hold the price down while getting people to sell out - fill those buy orders and earn their commission for filling them.

JOG market cap is still below cash/tax losses carried forward.......all the oil has at the moment zero value.

News flow in the coming weeks and months will rerate this upwards, but before that, those wanting to buy lots of JOG are getting their orders filled by all this shaking up and down.

When no more stock falls out, they will move to the next level and do it again, probably 250p is the next stop once the sellers around 200p have dried up, be it today, this week or next.

Remember, the current Market Cap (35m) is below Cash (13m) and Tax Losses Carried (25m) totaling 38m GBP.

Therefore we are below Cash and TL.......and all the 104.5MMBO of proven oil is in the price for nothing.

So the share price could double again today, and it will still be undervalued significantly. Thats how cheap it was and still is.

https://www.offshore-mag.com/regional-reports/article/14036572/jersey-oil-gas-plans-north-sea-buchan-area-hub

........BP discovered Buchan the mid-1970s and production started in 1981, continuing until May 2017 when the Buchan Alpha platform no longer complied with the current Safety Case. By that point 148 MMbbl had been produced.

Buchan has light 33.5° API oil with a low gas-oil ratio of (285 cf/bbl), and an estimated 80 MMbbl-plus could still be produced, according to Jersey’s estimate.....................

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Shorters also will be trying their best to close out......tomorrow should be another strong blue day, they will want to close out and buyback today, not tomorrow.

Hence a few people posting nonsense looking to scare people into selling.

Over 4m volume.....thats a decent churn for the day.

Only 21.8m shares in issue.

Once these get into long term holders hands.....this starts the next phase up through 250p and 300p levels as less stock in the free float and ongoing accumulation continues