Member Info for Robsroom

Sure thing dick, do you know oil is largely traded in dollars? Our forecourt prices are higher than they where a year ago because our currency has fallen against the dollar, anywhere between 10-20%. Who’s benefitted? Asset owners.

DU, you make a big deal about the conservative government but I suggest you stop reading the daily mail. Read the daily mail and it workers pushing inflation with wages that are actually real term pay cuts, no mention of the inflation busting divi us shareholders got from shell yesterday;) get wise, look behind the headlines and there has never been a more successful government in recent times in transferring wealth to asset owners (most of our portfolios are testament to that), they pulled an absolute blinder with furlough and the covid contracts. They’ve even managed to get a billionaire on seat as PM, rest assured our wealth is safe. The political news is just noise for business, the big deals rolled on, and when this one lands we will be laughing (because behind the headline this wft will actually line our pockets).

This **** always goes down on a Thursday. Be nice folks, it’s you and our keyboards, that’s all we got!

Greener, I’d stop sort of saying I’m informed, but the way I see it, is that to create a hub or go back into buchan is complex, expensive and time consuming (billions of £, massive risk and integration). Jog haven’t operated *anything*, let alone complex, expensive or time consuming (they’ve done a good job on the farmout with the later). Hopefully the Ithaca guys have brought some reason and told them, you ain’t BP, Shell or Total (so forget doing what BP figured wasn’t feasible), but if we can get 200m from a farm out, we can stick an FPSO on top, or drill verbier and tie back with a pipeline to existing infrastructure and get some oil in our life time ( 2 or 3 years time). That’s how I see it, time will tell. Off to the moon.

Rest easy tomorrow morning Abatt, the sun will rise, but the JOG SP won’t, at least not to the £5,8,14,43 we hope for on a deal. I tell you, this is running till the end of the quarter, AB has given up on the hub and is now going for a cheap and cheerful tie back…good news is he won’t need a billion that he would have needed for his hub. This **** usually goes down on a Thursday, but think end of March rather than end of Jan or Feb. Hold in there.

Hold in there dick, end of Q1…certainly.

Well stumbled on this beauty at the weekend and bought in at 475 this morning. Looks like a proper falling knife, but the revenue and normal profit figures look fair value (cheap for the sector?). If they can get F1 manager right, massive grown potential with F1 leaning heavily into the USA . GLA

Yeah amazing they get away with it, highly questionable integrity of the ceo. Masters of f corporate finance. I bought in at 27 and averaged down to 16p, ended up owning about 0.5% of the company, so sold up today at 29p (didn’t quite trust them to hold for 30p). A sweet return in the end, but agree there is far more value in the company that £15m. So where next?

Undertaking my market research at the weekend, I notice AB liked an article on LinkedIn about flogging a dead horse. I can imagine that’s what theyve been doing chasing a hub instead of a tie back, he’d be one sick little pup (or just another AIM oil co ceo) to like something like that if he don’t have a deal up his sleave, dyor (on fintwit & LinkedIn obvs). I see James Simon has been buying again today, nice rally. Off to the moon.

It’s been there for well over six months, used to have coffees nearby last summer and kept an eye out for AB. It was pretty quite. Will be a place of work for the Ithaca guys, they are Scottish. Also keep an eye out for AB at the Repsol office when I go for my Pizza on Holborn Road. This time Rodney!

Good luck Dick, your best post yet! I too threw caution to the wind with a foolishly large purchase just before Xmas (sorry to disappoint Chessman, I was the fool). Alas not quite as hopeful as dick at getting out with a sale, can see this hitting 50p with some corporate finance magician taking us PI’s out for nowt…as AB says ‘certainly’ and as the kids say…YOLO. GLA

A nice description of being a JOG shareholder there Dick. I’ll be spending it with Dr Seuss in the waiting place. Next year we’re off to the moon.

I’m not an accountant but tried to figure out what was going on with the cancellation of the share premium, my guess was Mayfair partners loaded the company with 40 mil debt to buy the original owner out, they then pay that debt back issuing shares at ipo, cancelling the debt creates the excess in the share premium account which has to be paid back (or cleared) before shareholders can get a payout? Would be nice for a finance bod to have a look. This drops because nobody buys retailers heading into a recession (apart from desperado’s like us), there are no buys so every sell moves the price down. But I honestly think they are setting themselves up for a good run, they got credible staff coming onboard, clearing the decks for when the tide turns. May 2020 French connection had a market cap of 4 million, 6 months later it had 5 bagged before a sale, same deal here but I think this is a better business and will actually start turning a profit. Not for widows.

Reading this drivel is cathartic…certainly q1 will keep me in festive cheer

3b4b is highly desired, big farmout almost sealed, think the recent sell off has over looked that. Full year ahead of positive news in this part of the world. 35p by Christmas ?? Looks cheap at 65M

All the stars point to Ithaca stumping up on the back of their recent IPO, good value at 240, bounced sharply last time it hit this level :) to the moon!

I’m with you Margaret, looks very cheap and well positioned for a turn around. Only thing that worries me is the motives of Bertie from Mayfair partners, he clearly pulled a fast one with the IPO. Can someone explain the £40 million capital reduction, how that works and what it means?

Some fall, looks like admin costs are killing em. Would be nice to see som DD’s here.

50 to 100p in 3 years on the LTIP, very doable I expect, see if I can top up at 17 :)

Just sold down a big chunk, no problem shifting them, so someone is accumulating. With the tax regime changing daily and 33rd round on the horizon can’t see a deal before Christmas, hope I’m wrong.