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Labour have taken a position on new licences... that's it... which new licences?!? The ones that would be granted after 2025? It's all totally ambiguous.. Thats politics for you.. Not new in anyway.. as I'm sure most of us know

Buchan will be approved, and well in flight - and almost at first oil by the time they come to power (if !?!) Hard to argue that their current rhetoric doesn't enhance the value on Buchan (No new licences from a point in time makes this more attractive). Even with the existing shock show it is clear that Buchan is accretive to NEO + whoever + JOG (25%).

The GMB noise helps (Labour are said to be in listening mode)- and then there is the point around NS employment, and Scottish votes. Labour cant afford to shut down O&G.. arguably its more important to them and getting into power than it is the Tories staying in power.. I suspect they will support a windfall concession on 'existing developments'.. for further development of current developments (e.g. GBA), etc..

This will all play out.. As ST in the IC said.. this is a cracking deal, which will rise in value when investors understand it - the above makes this clear

On the Horizon :

-Farmout confirmed, inc pass from NSTA

-Feed Confirmed outlining the economics

-Second Farmout confirmed (likely more attractive given the above)

-Cash in to consider a new investment / existing production asset (maybe even something with NEO?!?)

Sit tight

Energy security is a thing now, it's hardly about to disappear.. !

DYOR/IMHO

DYOR

The GMB are calling it out as a bad play.. they need Scottish votes..

DYOR

Labour need Scottish votes … partly why the GMB are kicking off…

They will soften.. the question is when

IMHO

And here begins the u-turn!

Financial Times,

GMB attacks Labour plans to end new North Sea oil and gas licences

--

Jim Pickard, Deputy Political Editor

--

Read the full article at:

https://on.ft.com/3MYFi2i

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

Agree, that would be my take on things too!

Very quiet recently.. know you've been working on PDR.. do you think both prospects are equally exciting - or different!

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

DU - I assume that despite all of this you 'remain in' in regard to JOG

BM - you seem to take every opportunity to bash AB, the CEO

Would love your view on Les Thomas, the Chair...

Just read the broker note from WHI, brilliant!

F.O. James Simon, that seems to be the key theme!!

DYOR

You would think that a T/O is increasingly more likely immediately following the introduction of a floor, assuming that happens!

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

I'm holding too and firmly on the bus.. but you have to laugh! Lets see what next week brings..

I suspect we will see a big uplift when they formally ink this!

DYOR

Good note Didas, my working assumption is that one of the big holders is potentially selling.... have made some money..

Once this clears, there is clear upside and better news on the horizon!

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