Member Info for Robsroom

Looks cheap to me at 5p. Brand must be worth 10 or 20 million, 8 million in the bank, business rates relief, market cap 4 million?

How is the debt structured? When is it due, can they pay? Who owns it?

client site rep; goes onboard the vessel to represent his multinational client.

Good friend just accepted a seismic survey CSR job in Tanzania...mobilisation in May! It’s going to rip when the licence drops :)

Yep gets tempting to load up as we head towards double digits. Dick ‘two extensions’ makes a good point on the value of reserves drawing comparison with the valuation prior to the appraisal, but the difference was they had a major onboard at the time (I.e. source of capital). They can try and farm out, but hard to see what they bring to the table apart from the OGA award, which any serious player could have got themselves with a study. Worth a gamble in double digits.

A little frustrating, oil not fashionable, but a great stock for the patient. It might be out of fashion but we use 100M barrels a day and hard to see any meaningful decline in that factoring in population growth. Train is debt free, cash accumulative, low oil price resilient, will benefit from changes in macro/external environment e.g. oil price, SPT reform. Safe oil stock you can leave in your portfolio, good chance of significant re-rating in next couple of years as production continues to creep up and cash accumulates.

After the news that Equinor didn’t want to farm in, AB did an interview on one of the stock channels suggesting they were looking at 1000’s of concepts and it would be a couple of years before share holder value was realized. If they are looking at 1000’s of concepts, really means they don’t have any idea how to commercialize this, better sell down now and come back when we go sub one pound. The faster we get down to a pound, the faster we get to fair value and the chance of some upside here.

Sensible move Banjo. The risk is you miss out on massive upside if JOG manage to find a partner prepared to stump up the cash, the last interview with Benitez didn’t suggest that was likely to happen for a good while. Would nice to see their CFO buy some stock, he’s the one who can apparently work the magic with corporate finance. I’ve done the same and keep only a very small JOG holding now, bring my proceeds back here when it gets to a pound :)

Good company and good chance for significant SP growth in the future, but bear in mind..

* They don’t ‘own’ any oil...its deep underground in the North Sea and needs 200M to get it out.
* Any major could have spent 5M on a study and got the licence from the OGA, but they didn’t want to because its a mature basin and there are better options elsewhere.
* Jog is a bunch of guys in an office in Jersey, nothing anyone with capital couldn’t replicate themselves.
* The licence award was a get out of jail free card after the disaster of their ‘safe’ appraisal well which turned out to be a duster.

I’ve been in this stock for the best part of 3 years, they are a good outfit and most likely will come good one day, but that day is years away (I‘ve still got 5k here). Sell now at 160, double within three months at Aminex or FUM....if you like fundamentals look at Trinity which has production in a growth basin and 5M+ profit a year! Like it or not, this will drift down to a pound and even below before any rise :(

Ha, well said, sad to think people really think comments on forums like this move a company SP with a 50M market cap. This bad boy is about to explode, Tanzanias great and good have been buying into this over the last 3 months, cash advance from Oman, options granted, licence drop in the new year and onwards and upwards. Road being built to the well pad as we speak...ready to drill in March. Happy days.

If I understand the options correctly it allows the BOD to buy shares at the price the options where issues (1.4p I think). The only logic for that is if you think the SP is going to be significantly higher at some point in the future. Obviously you can’t print options like they are going out of fashion as you would lose credo with the board, so do it when you think the timing is right and you have confidence they will be worth more at some future point. Very good news in my opinion, Licence drop early in the new year and drilling in March, onwards and upwards to 7p!

Beware of your bias for the status quo, game changing policy if you think about it. Rent extraction from BT is really holding back potentially massive industries like IoT, could deliver big productivity gains (just like free access to roads does). If the FANG stocks have to pay for it, they will also benefit from it. Don’t expect a big reaction from markets today but its a three horse race, I’m a Tory voting for revoke this time around!

I took the plunge today and loaded up on Trinity. Figures look good and will lock it away for a couple of years, should come good. Do you know if brokers cover this stock?

Good to see this holding at £1.75

Did the fail to restore Kiliwani North-1? Assuming licence is granted and exploration\appriasal drilling continues, all good, but looking at the company report I think their admin charge runs about 3M a year and they have 1.5M in the bank. So what worries me is where is the revenue coming from in the short to medium term?

Very impressed to see this holding at 185! Arden have always under estimated the cost and logistical challenges of building a hub. I still have a small holding but largely sold down at 180 and plan to buy again at sub 100. Good Luck.

Looks like a fair price to me, significantly below NAV but looks like they are building a cash pile for offshore development, when and if this is successful they will step much closer to their aspired 30k bpd. However, whilst this is undertaken you have the back drop of on going bear market (and general sp drift lower) and possible raise against shareholders to supplement cash. You rarely get anything for free and this looks attractive, very tempted. Might also be attractive acquisition target for local staff capability.

Just looking into Metro bank and thinking of trading the unwind of the short positions. There was talk back in Feburary of a cash call to share holders, did this materialise?

Seems like a real unloved stock, financials look robust to me. I wonder what the plan is for the cash pile they are building? An offshore development? They also look like an attractive takeover target for someone looking to enter the country.

I sold down this morning :( its been a rollercoaster ride these last few years - interesting to see my 34k sale came through as a buy :-! I will jump aboard if it drifts sub £1. Hope to be proven wrong and that you LTH's get to see £5 and beyond but some uncomfortable truths for me...oil in the ground is worth next to nothing (and certainly not £40M) unless you have £200M+ to get it out. Enjoy the ride.