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Has also borrowed the FinnCap headline...
A good, simple set of historic accounts from JOG with no surprises and reinforces the excellent position the company is in right now. The company has a strong cash position and with cash payments due from the NEO Energy deal is set on a sound footing.
I am looking forward to the ‘value catalysts’ of which there should be many throughout the year and consequently feel that my existing Target Price for JOG of £10 per share is still very achievable but for the longer term somewhat conservative.
Fairly generic one paragraph.. super positive.. talking about a very positive period and importantly finished with the below..
'Alongside US$24m of cash milestone payments over the next 12 months, this provides a catalyst-rich environment for investors. '
DYOR
Good note DU, we also have the closeout of the F/O deal in H1 according to Zeus capital .. which may in itself trigger institutional interest.. To quote ST 'material rise when investors realise'
As you say lots of news flow in the coming weeks / few months
Not one to be out of you would think, especially as it has been significantly de-risked to state the obvious..
I wonder if UBS are fully out yet !?!
DYOR
Where's your money on the news content / timeline DU? I know you said : we should get a number of news releases in quite a short timescale.. Would be good to share a bit more re: your view on this (if you're happy to), and would likely create some healthy and more meaningful exchange / interaction rather than the recent utter BS on this forum..
IMHO
Https://on.ft.com/3Oc6Q5p
The noise continues.. note the internal discussion point.. sooner or later something will give!!
DYOR
From the OGV article
Jersey Oil & Gas has agreed to farm-out a 50% interest in the Greater Buchan Area (GBA) licences to NEO Energy. Jersey Oil & Gas is set to receive a $2 million cash payment on completion of the transaction, a $9.4 million cash payment upon finalisation of the GBA development solution, a $12.5 million cash payment on approval of the Buchan final development plan FDP by the NSTA, and $5 million in cash on each FDP approval by the NSTA in respect of the J2 and Verbier oil discoveries.
""Jersey Oil & Gas will be working in partnership with NEO to select the preferred development solution, having confirmed a short list of attractive options for the GBA which utilise existing North Sea infrastructure""
DYOR
Https://www.ogv.energy/news-item/uk-north-sea-energy-review
DYOR
UBS clearly trying to fund their Credit Suisse acquisition.. :-)
In all seriousness I am quite heartened by this.. they were clearly in for a short term sand bag… when this clears I think we’ll see a good rise…
I’d be buying not selling James… but WDIK!
DYOR
ST from the IC has completed two updates in a week, the second at such pace that he clearly thinks there is almost certain material upside (from ~ £2.77). He actually describes the deal as 'Cracking' and believes the market have badly misread it.. Simon Cawkwell also seems to believe in it..
Lots of people off for Easter, Jog's PR co can definitely improve on comms, although I accept that NEO may not be overly keen on the 'outstanding deal' point being laboured too much.. always a tricky balance
I suspect Farminee number 2 is already lined up... and.... until the deal is signed JOG also remains a takeover target IMV, especially at it's current market cap...
@Jim333 - Would be interested in your view. I know you referenced AB had indicated that the deal could run into May, and was obviously completed quickly following the last RNS! Appreciate any thoughts you may have if you're willing to share..
DYOR
Momentum is building…
https://www.thetimes.co.uk/article/neo-energy-moves-for-old-oilfield-g6qbfjp5n
Dyor
I know it’s been posted already, but my advice is have a thorough read .. it tells you everything you need to know..
https://www.investorschronicle.co.uk/ideas/2023/04/06/jersey-oil-gas-deal-is-being-overlooked-by-investors/
This feels very positive… forget the share price today.. when this deal formally crystallises .. and management farm out their remaining target this is going to rise significantly ..
As someone said earlier, I suspect that farminee 2 is already lined up!!!!!
My suspicion is that investors of scale will get their heads around this shortly and start buying!
WTS/DYOR