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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 bagā¦ when this clears I think weāll see a good riseā¦
Iād be buying not selling Jamesā¦ 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 ~ Ā£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 buildingā¦
https://www.thetimes.co.uk/article/neo-energy-moves-for-old-oilfield-g6qbfjp5n
Dyor
I know itās 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 positiveā¦ 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
All are inherently positive, perhaps unsurprisingly ..
WH Ireland - short note, essentially they are repeating their conviction buy guidance and stating this vindicates their long held view on Jog and the GBA
Key messages are they expect the share price to rise a lot. The energy crisis is just starting to bite with the language āgame onā
Zeus - Consistent with previous Arden notes and super positive but shorter than normal.
FinnCap - Very upbeat. Stating that there is always an expectation of leakage in farmout a, but the news is exciting and they consider their 660p target (which they increased in November as āconservative.ā Of all the 3 brokers Finn Cap have been the most conservative historically, so I would say as an indicator this is really strong language
No doubt Simon Thompson to follow and also the Evil diaries.
Lots to look forward to in the next 2-3 weeks. My money is Ā£300-350 pre farmout .. with a potential doubling to Ā£7 on confirmation.
The other key point we should consider is that an exclusivity period doesnāt preclude a different third party take out bid if itās credible.
There was an interesting extract from Proactive on Friday.. stating that regardless of the emotion from big producers toward the windfall tax the facts remain that the incentive is going to force investment .. and inevitably make the GBA attractive to large existing producers..
A major capital event may yet materialise in the next few weeks if not before as the clock runs down..
Exciting times
DYOR
3x broker notes out from Zeus (already mentioned), WH Ireland and Finncap on Friday - all very positive and worth a read..
I am convinced personally that it's Ithaca.. and I suspect there were 2 x plans for Friday depending on Thursday energy day announcing a floor.
I am also expecting a note from Simon Thompson at the IC early next week!
Happy weekends
DYOR