Jersey Oil and Gas Live Discussion

Pro_S2009 25 Aug 2019

Jersey Oil and Gas - North Sea Oil Hi Dick, Yes, it is most strange. I am guessing its just the wrong time of the year (institutional holidays) and everyone is waiting for Equinor to rubber stamp the project. Equinor farming in along with everyone back from summer holidays should see plenty of buying and perhaps then JOG will rerate upwards to more where it should be. At this moment in time should be over 500p…that it is not just represent a massive bargain.

eagle51 25 Aug 2019

Jersey Oil and Gas - North Sea Oil Pro_S2009: someones summary of JOG. …“someones summary of JOG”…?? …mine actually, Pro_S2009…I don’t mind at all btw; glad to see JOG get some coverage, even on here. Everyone’s abandoned ship! Not sure how far you can go back now on ii but TRAP was an interesting story and my posts go back a long way if you’re interested. The shares I bought in JOG at 8p turned out to be a good buy. As did multi buys at between 10p and about 35p Sept 15 through to about March or April 2016. I also subscribed in all the placings. Top slicing at 375p+ (it wasn’t there for long) got me a decent holding in SQZ as well, so I owe a lot to JOG. I’m presently holding more than I’ve ever held after ditching CLNR and putting 2/3rds of the proceeds into JOG (in the 60s) and the rest into SQZ at around the current price. SQZ is a long way below fair value too imv - it’s full of cash and adding a lot more daily. They’ll buy something soon but I’m not quite sure what!! It’s nice to get a few decisions right for once. You know the value I see in JOG - it wouldn’t imv be overvalued at 5x the present price, although there’s uncertainty over how ownership of JOG’s proven resources will pan out, which I suppose will put some people off. I’d like to see commonality of ownership between the P2170 partners across the 5 GBA licences, which would hopefully get JOG to first oil without too much dilution and leave it with plenty of cash. Wdik? The directors are incredibly switched on in this regard and want to see the shares even more tightly held than they already are, I’d wager. I’m looking forward to JOG telling an invited audience (or more) in London early in Q4 exactly what they’ve got and what they intend to do with it. One or two institutions (hopefully well informed and a bit more patient than the clowns in Schroders & L&G) buying into JOG’s story would change the dynamics and probably result in a sharp price increase that hopefully could be maintained instead of sold into by weak holders, many of whom I hope have now gone. It must be one of the biggest anomalies in the history of the markets that JOG, with discovered and proven to flow reserves in the NS of 120mmboe, hundreds of millions of barrels prospective and £10m+ in cash has a market cap of about $45m, whilst UKOG, with the square root of f*** all, has a m/c of $65m. Tells you how uninformed most of those making up the market must be. But we already knew that… GL - eagle (aka dick)

Pro_S2009 24 Aug 2019

Jersey Oil and Gas - North Sea Oil HeraldScotland North Sea minnow eyes 120 million barrel development after licence coup NORTH Sea minnow Jersey Oil & Gas has seen its shares surge around 15 per cent after the company was awarded acreage containing a significant…

Pro_S2009 24 Aug 2019

Jersey Oil and Gas - North Sea Oil Arden have increased their Target Price for JOG to 550p a share from 450p a share following this extra license award. They assumed that the newly awarded license will also see JOG give 50% to Equinor and so included just 50% of the new license into their NAV modelling. Anyway, their new NAV are : Risked NAV now 597p a share and unrisked NAV 1352p a share (these NAV values based on long term oil price of 65 US$ per barrel) Unrisked 1352p a share after the 50% Equinor option take up (or as we stand now 2704p a share 100% owned) .

Pro_S2009 23 Aug 2019

Jersey Oil and Gas - North Sea Oil Energy Voice – 23 Aug 19 Jersey claims 120m barrel Buchan opportunity after latest block award - News for... Jersey Oil and Gas has taken the next step in its mission to amass a major resource base in the outer Moray Firth after clinching the block containing the Glenn discovery. Jersey claims 120m barrel Buchan opportunity after latest block award by Mark Lammey 23/08/2019, 70 am Jersey Oil and Gas has taken the next step in its mission to amass a major resource base in the outer Moray Firth after clinching the block containing the Glenn discovery. Block 21/2a is an additional award from the Oil and Gas Authority’s 31st supplementary licensing round, which focused on the Greater Buchan Area. London-listed Jersey previously announced that it had been handed acreage containing the Buchan and J2 discoveries during that bidding round. At the time, Jersey described those awards as the “most significant event since its inception”, while the firm’s shares skyrocketed. The assets are in the same vicinity as licence P2170 containing the Verbier discovery, in which Jersey holds an 18% stake. Equinor-operated Verbier underwhelmed in April when an exploration well showed the field contained closer to 25 million barrels of oil, not the 130m barrels partners had hoped for. Jersey said today that the addition of Glenn to its existing Greater Buchan acreage provided an opportunity to develop a major new area capable of producing 120m barrels of oil equivalent net. Chief executive Andrew Benitz said: “We are delighted to announce this further licence award within the Greater Buchan Area. “This additional acreage completes a 100% success rate of awards across all of the acreage we applied for in the 31st supplementary offshore licensing round. “The Glenn oil discovery contained therein adds additional discovered resources net to Jersey as well as operatorship of another discovered resource in the area of our Buchan-centred development hub plans for the GBA.”

Pro_S2009 23 Aug 2019

Jersey Oil and Gas - North Sea Oil Nice post on LSE… someones summary of JOG. I would agree that ultimately JOG will be 1000p before too many moons pass, it will come in stages and reward those who keep holding and wait : RE: Time for some simple maths.Today 08:12 I get your gist PC01, but not your maths I work on a conservative value of $7 per barrel. This is an estimated selling price achievable for discovered resources in the ground pre-infrastructure spend, in an area of the NS that’s close to the Forties Pipeline for tie-back purposes (recent evidence is there to support this price - higher actually). JOG has 18% of Verbier’s minimum of 25m barrels, which is 4.5mmboe. Add to that the 52.5mmboe (net of likely transfer to Equinor) in Buchan & J2 and this gets us to 57mmboe (ie 57 million barrels of oil equivalent -‘oil’ - in simple terms). Today’s addition takes us to 71mmboe. 71mmboe alone (ignoring the value of hundreds of millions of barrels of prospective resources across JOG’s five contiguous licences) gives us a value of $497m - say $500m. I don’t really see a reason to discount the $7pb but, even if one did, it would still leave a value of the discovered resources alone of $250m - or £200m using a $/£ rate of 1.25. This is £9.16 per share (I think much higher because I wouldn’t discount my $7pb by 50%). Throw in 84p for the rest of what JOG has (not least extremely talented and committed management and staff) as we’re being ultra conservative - and £12m of cash, plus the prospective resources referred to above, and say £10 a share. I’m doubtful the directors would entertain a bid at that level. One day the penny will drop dyor

Pro_S2009 23 Aug 2019

Jersey Oil and Gas - North Sea Oil [link] Another 14 MMBO to JOG. JOG now has 123.5 MMBO of proven recoverable oil. (ECO has less than 40MMBO by the way…compare the market caps) .

Pro_S2009 04 Aug 2019

Jersey Oil and Gas - North Sea Oil If anyone wants to download and read the Arden Partners note on (Jersey Oil and Gas) JOG then you can in the link below: uploadfiles.io Uploadfiles.io - JOG-Arden-July2019.pdf Upload files, for free, securely, anonymously, without limits. @UploadFilesFree .

Pro_S2009 02 Aug 2019

Jersey Oil and Gas - North Sea Oil Just to give some figures for reference. The House Broker believes : Current cash level is 15m GBP. JOG to end 2019 with 10m GBP cash. Unrisked NAV is 2462 pence per share - reducing to 1231 pence per share when Equinor take their 50% (current share price only just over 200 pence per share) Risked NAV of 1074 pence per share - reducing to 537 pence a share when Equinor take their 50%. JOG have the funds for the FDP and also a well on p2170 in 2020. Drilling plans for 2020 should be known by end of 2019. CPR will be coming in Q4 2019. In effect, what I take, keep on accumulating JOG shares and when Equinor exercise their option in the coming months the share price should move up much closer to the Risked NAV of 537 pence a share post Equinor option. Q4 will see the CPR released and also drilling plans for 2020 and so Q4 should also see a significant uplift to the Risked NAV from 537p up to ??? and so the share price should rise as well with that. Basically, anything below 300p should see a decent profit when Equinor take the option in a month or two and should rise further come Q4 and the CPR/drilling plans. Broker current target price pre-Equinor taking their option is 450p.

Pro_S2009 31 Jul 2019

Jersey Oil and Gas - North Sea Oil Some useful links re-posted : OGA announcement and links to GBA downloads: [link] PGS announcing they have good 3D over the whole GBA and its available: PGS Data Show for Greater Buchan Area Fast-track GeoStreamer 3D data is now available for the Supplementary Licensing Round in the Greater Buchan Area, with significant broadband uplift that offers a better understanding of the plays. PGS will show the latest 3D results … Wood-Mac write up on the GBA potential pre-award: woodmac.com New opportunity in UK North Sea with Greater Buchan Area round The Oil & Gas Authority's (OGA) decision to launch the 31st supplementary offshore licensing round, focusing on the Greater Buchan Area offers a material opportunity for players active in the UK North Sea AC write up of JOG post GBA award: [link] Simon Thompson (IC) write up on JOG early July: investorschronicle.co.uk – 22 Jul 19 Jersey gushes higher on transformational licensing award The three blocks the UK North Sea-focused upstream oil and gas company has been awarded in the Oil and Gas Authority’s latest licensing round have major positive implications for the commercialisation of its acreage. 29th July further comment by ST at the Investors Chronicle: investorschronicle.co.uk – 29 Jul 19 Bargain shares: director dealings, buy-backs and an institutional placing Directors of two constituents of Simon Thompson’s 2019 Bargain Shares Portfolio have been heavily buying shares in their companies. .

Pro_S2009 30 Jul 2019

Jersey Oil and Gas - North Sea Oil Indeed. Write up on JOG. PDF file in the link below. [link] .

Pro_S2009 29 Jul 2019

Jersey Oil and Gas - North Sea Oil 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. AF – 31 Jan 19 Britain auctions 300 mln barrel offshore oil, gas field Britain's Oil and Gas Authority has launched an offshore licensing round fo... Energy Voice – 31 Jan 19 Buchan area plan viable without new platform, analyst says - News for the Oil... More oil could be pumped from the Greater Buchan Area (GBA) without the costly installation of a new platform or floating production facility, an analyst said. .

Pro_S2009 27 Jul 2019

Jersey Oil and Gas - North Sea Oil 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 from the results statement. [link] 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." .

Pro_S2009 25 Jul 2019

Jersey Oil and Gas - North Sea Oil 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.

Pro_S2009 25 Jul 2019

Jersey Oil and Gas - North Sea Oil A good summary post on LSE by dickupham which is worth posting here. I’ll try to explain again why JOG’s present SP is an aberration. Feel free to comment on my logic. When the Verbier appraisal well was being drilled and JOG’s SP was 240p (which was felt by many to be too low given it had c.5m barrels of confirmed reserves in Verbier, the Cortina prospect and a load of cash) it was generally thought that on the appraisal drill being successful and Verbier oil showing up near the top estimate of 130m barrels - 23m barrels to JOG including the 5m already confirmed - JOG’s SP would increase to somewhere between £5 and £8. When the appraisal showed no more oil than JOG presently held (still holds), the share price was trashed down to 70p or thereabouts, giving a total value of the Company of less than the cash it had in the bank. Utterly daft . JOG has recently been awarded 100m barrels + of top quality oil in Buchan and J2, without having to do any exploring. Most of this oil is known to flow, because it WAS doing until as recently as late 2017. The oil won’t have run away. Furthermore, there is already some useful infrastructure in place that will reduce the cost of getting back to production and shorten the timescale. No doubt JOG (and probably Equinor) will be giving considerable thought as to how to maximise what has come their way at no cost to them so far. So today, with 110m barrels of top quality oil (apv33) JOG’s SP hasn’t even recovered to the level it was at when it only owned 4.5m barrels in Verbier. Discovered oil in the North Sea has recently been changing hands at prices per barrel of between $7 and 15$ per barrel. Buchan is at the heart of the GBA and it offers enormous potential not only for the future delivery of hundreds of millions of barrels more than has been discovered (and flowed). It can also act as a ‘hub’ for nearby producing fields to tie into for onward tie in to the Forties pipeline, which makes Verbier and Cortina even more viable: [link] Work can immediately start of a field development plan that sets out exactly how the field will operate. JOG might not need to take things beyond that as, by then, it will be a very attractive proposition indeed. Both main directors have significant holdings and the one thing no-one says on their deathbed is: “I wish I’d worked for longer”. Mr Market thinks JOG is worth less than it was before any of this happened. Good for Mr Market. If you didn’t think Mr Market was born without a brain, you do now. Mr M comprises a whole lot of desperate for money dimwits who don’t know their proverbials from their elbows, are fixated only on ‘price’, have no interest in value and wouldn’t know what it was if it jumped up and bit them. JOG is ‘worth’ the min price its oil would fetch on a sale (post 50% to Equinor). $275m - c.£10 ps. Price is about supply and demand. The supply will stop as the reality sinks in.