Paitech
06 Nov 2017
Re: Open offer? - reply from iii.. gutted.. I am not sure how much I will get diluted by ... as Ihold 10k £ worth at 206p... Thank you for your secure message dated 5 November 2017. With regards to the offer for subscription for your Jersey Oil and Gas shares, it is part of our terms and conditions that we do not notify you of any offer for subscription of placings. We do not handle placings on our platform but we can apply for an offer for subscription on a best endeavours basis if you notify us how many shares you wish to apply for and you have the cash available in your account. Unfortunately we cannot apply for you for your Jersey Oil and Gas shares as part of the application we had to complete paperwork and raise a cheque on your behalf and the timing to do this and for the company to receive this has passed. Please accept our apologies for any inconvenience that this may have caused. Should you have any further enquiries, please do not hesitate to get in touch again. Our response time to secure message or email is usually 1 working day, although in times of high volumes we may take up to 5 working days. Yours sincerely Michael Cochrane Customer Services Executive Interactive Investor
Mikeclayton2
06 Nov 2017
WHAT THE RIGHT PRICE FOR JOG The market cap tonight is circa £25mil and it has raised a further £24mil giving say £50mil.The Verbier project is estimated at min 25 mil barrel and JOG has 18pc that’s 4.5mil barrels.Costs are estimated at 22 per barrel. I know Oil is currently circa 62 a barrel so if we take 4.5 mil times 40 we have 180mil. Over 3 times the current share price and that if the find is the minimum and we ignore any other assets the company has.Do not sell these for a quick 50p profit, the stock is in short supply and the potential is terrific.All assuming my arithmetic is correct, all views welcome
Mikeclayton2
05 Nov 2017
Re: Open offer? My view is that the open offer will be well oversubscribed so most will not get what they asked for. I expect a small fraction of my quota. All indications are the SP not be anywhere near 200p I expect 230 plus
BBanker
05 Nov 2017
Re: Open offer? It will probably increase in value as those that do not get what they applied for seek to top up. No guarantee one way or the other until we know if the oil in place will exceed or fall short of expectations. Hopefully there is still more to be discovered. Definitely one to hold on to.
BOWOOD
05 Nov 2017
Re: Open offer? What will happen after the open offer closes? Will those who have subscribed their 200p then sell to bank a quick profit? What will then happen to the sp?
TheDrewster
05 Nov 2017
Re: Open offer? I have ii (ex TDW) and had no issues subscribing for 25,000 shares.Money has been taken from account, so holdings and any refund this week I'd imagine.
mt4500
05 Nov 2017
Re: Open offer? I looked in corporate actions every day and nothing. I gave up in the end and bought 25% on open market at 205P. It was difficult to buy with it asking for limit orders most times I tried,The price rose on Friday so might not get the chance to buy around 200P now. Still poor that they have not given the opp to take part in the placing.
GFDGPD
05 Nov 2017
Re: Open offer? The JOG open offer info has been communicated by HL for at least a week (I don't hold any via iii). Responses have a cut-off of 9am tomorrow morning with them - I'd phone up iii first thing tomorrow, if I were you!Good luck
Paitech
05 Nov 2017
Open offer? Hi all,I haven't received any open offer in my iii account?When was the last day to get open offer andHas anyone received this?TaG
eagle51
25 Oct 2017
Re: Value I can't do the same as you, admiralty (apply for as many share as I currently hold. I'd have to sell my house and there isn't time. Besides, someone else might complain and start saying: "and another thing too while we're on the subject"...........b hell....we don't want that. I'd have to start doing the dishes.Unfortunately cash doesn't grow in trees and I added last Friday at a favourable price.I reckon Statoil think they've hit something big............all the signs are there. Hope so anyway - I'd hate all this to end up being a damp squib. There's good quality oil (mostly 33-43 API) all around. Why not? I'm sure you've seen it - P7: [link]
admiralty12
25 Oct 2017
Re: Value Thanks for the info. Eagle. It makes for interesting reading. I have applied for as many shares as I currently hold - I am not too bothered what the scale back will be (and I suspect will be considerable) - as I will pick up shares as and when I see an opportunity.
admiralty12
25 Oct 2017
Re: Value Eagle...I thought the directors take-up of shares was a little poor actually, but at least they did buy some.
up protherics
25 Oct 2017
Oil Invested in this at 2.6looking to get out at 10 prtcent profit.Nyone know terms of open offer.
eagle51
24 Oct 2017
Re: Value admiralty - the greater part of the £20m placing proceeds (£11m) are to be spent on further appraisal of Verbier. I was surprised to learn that the arrangements relating to CIECO 10% carry of JOG on total P2170 spend (as I had thought was the case) has now ended. Puts JOG on the ticket for 18% instead of 8%. Pity.From the RNS:"Use of ProceedsThe Directors believe that in order to exploit the significant potential of the P.2170 licence area, the operator will suggest further appraisal and exploration wells to better define and determine the prospectivity and commerciality of the three key prospects: Verbier, Cortina and Meribel. The Company's carried working interests from both Statoil (U.K.) Limited and CIECO Exploration and Production (UK) Limited have now expired and as such the Company will need to fund its 18 per cent. share of any costs relating to the P.2170 licence. The use of proceeds is therefore largely attributed to ensuring that the Company can fund its proportion of the costs of these expected appraisal and exploration wells as it continues to pursue opportunities for the acquisition of production assets in the UKCS. Based on the Company's current management estimates, which are subject to change once Statoil has formalised its forward plans, the Board estimates that costs attributable to the Company in relation to the Verbier discovery in the upside case outlined above will be up to approximately £0.5 million for technical studies and £11 million for the well appraisal programme. In addition, the Company's management estimates that its share of costs in relation to an exploration well on the Cortina prospect, if drilled, would be approximately £6 million. These figures are current management estimates, which include contingency and are likely to change, but form the basis for the Company's estimated fundraise target for operational costs of up to £20 million. It is currently envisaged that appraisal and definition activity in relation to Verbier will run through 2018, followed by execution of the development plan currently estimated to achieve first oil in approximately 2022. The balance of the Placing proceeds not required for operational expenses will be used to provide the Company with general working capital and a stronger balance sheet to enhance any bids it chooses to make, which the Board believes will provide a greater degree of financial certainty to sellers of such assets of the Company's ability to fund any acquisitions".
