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Jersey Oil and Gas (JOG) - North Sea Oil

Proselenes
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Jersey Oil and Gas (JOG) - North Sea Oil

#161730

Postby Proselenes » August 24th, 2018, 10:57 am

Company Web site : HTTP://www.jerseyoilandgas.com/

Jersey Oil and Gas is a London listed UK E&P Company focused on building its position in the UK North Sea.

In October 2017 JOG announced an oil discovery in the Verbier sidetrack well, 20/05b-13Z drilled in License P2170. The well was drilled safely and within budget to the planned total depth of 3811m and a suite of log data had been acquired via Logging While Drilling (“LWD”), including pressure data.

Preliminary analysis indicates

* The well has proven a hydrocarbon accumulation in good quality sands, up dip of the water bearing sands encountered in the initial well

*Initial Operator estimates of gross recoverable resources associated with the Verbier discovery are between 25 and 130 million barrels of oil equivalent, with a minimum proven recoverable volume, in the immediate vicinity of the well bore, of 25 million barrels of oil equivalent

In addition to confirming the presence of oil in the Verbier prospect, this discovery provides valuable information to help better understand the prospectivity of the license area, which includes the Cortina prospect and the Meribel lead.


June 2018 Presentation : https://www.jerseyoilandgas.com/wp-content/uploads/2018/06/Oil-Capital-June-2018_final.pdf

Image

Proselenes
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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#161732

Postby Proselenes » August 24th, 2018, 10:58 am

Been buying this month. Prices appear quite cheap, seems to have been sold down due to some delays are possible with the appraisal well. But its only timing delays, its all still going ahead, so an opportunity I thought I would buy some in.

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#198308

Postby Proselenes » February 2nd, 2019, 4:40 am

Buy rating from Simon Thompson at the IC.

Write up can be seen in this post for anyone using AFN.

http://uk.advfn.com/cmn/fbb/thread.php3?id=43142265&from=545

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#203340

Postby Proselenes » February 23rd, 2019, 12:05 am

Excitement is starting to build as the Verbier appraisal draws near now.

With the 3D work and also when this appraisal well is done, lets hope for a significant upgrade to the mid and high cases. Presently upper case is 130 mmbo. That would be worth many multiples of the current share price.

Spud could be late March......early April at the very latest.

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#203843

Postby Proselenes » February 26th, 2019, 3:15 am


Proselenes
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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#204456

Postby Proselenes » February 28th, 2019, 2:32 am

JOG and HUR get their mentions on Malcys bucket list update

https://www.malcysblog.com/2019/02/the- ... st-update/

........Hurricane should not be so lowly priced but the risk is about to be proved so it’s not surprising that those who are believers are sitting tight and the shares have seen a few ‘squeaky bums’ taking profits, I still believe that 2019 will prove Dr Trice and team correct and the area is huge.Jersey Oil & Gas is also about to find out quite how much is in Verbier, Equinor has always thought highly of the asset as do I, no change here ahead of imminent drilling.....


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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#204764

Postby Proselenes » March 1st, 2019, 10:47 am

HTTPS://www.heraldscotland.com/business_hq/17468650.north-sea-oil-exploration-star-declares-outlook-for-area-is-bright/



................ A successful appraisal well could help pave the way for a development that could kick start activity in the area around Verbier.

The results of the appraisal well will allow Jersey and Equinor to firm up estimates of the size of the field. Mr Benitz said a find at the 25 million lower end of the estimate range would be commercially viable.

He noted the potential for Verbier to form a hub for a series of field developments in the Greater Buchan area, which the Oil and Gas Authority reckons could contain up to 300 million barrels..............



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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#204773

Postby Proselenes » March 1st, 2019, 10:58 am

Thanks to Motchjv on the LSE site.


Link below is very interesting. Are we looking at just the tip of a big oily iceberg with Verbier and its going to end up a much bigger discovery ? All adds to the spice of this appraisal well and possible sidetrack.


HTTPS://www.pesgb.org.uk/news/buzzard-and-verbier/


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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#205136

Postby Proselenes » March 2nd, 2019, 11:51 pm

Image


Should be a spud RNS sometime this coming week.

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#205915

Postby Proselenes » March 6th, 2019, 12:08 pm


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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#213316

Postby spasmodicus » April 7th, 2019, 11:57 am

The Verbier well came in at the low end of expectations, closer to 25mmboe than the hoped for 130mmboe. The well failed to find the expected Jurassic reservoir sand, causing JOG to plunge from 228p to 99p on Wednesday, 3/04 before sagging further, closing the week at 76.5p.

It just goes to show that fancy-pants 3D seismic intepretation doesn't guarantee anything, as it always was and still is just that - intepretation. Nevertheless, there still seems to be significant value in this outfit and I think it may be oversold, so having been sitting on the sidelines previously, I dipped in with a modest purchase at 77.2p on Friday. At least they are carrying out some honest to goodness exploration, which is not at all fashionable at present, despite the OP pushing past $70/bbl recently.

S

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#223078

Postby Proselenes » May 20th, 2019, 7:46 am


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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#224940

Postby Proselenes » May 28th, 2019, 11:54 am

28 May 2019

Jersey Oil and Gas plc

Settlement Agreement entered into with Total E&P UK Limited regarding Licence P2032

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf ("UKCS") region of the North Sea, is pleased to announce that it has agreed terms with Total E&P UK Limited ("TEPUK") in relation to TEPUK's termination of its 2013 farm-in to licence P2032 (Blocks 21/8c, 21/9c, 21/10c, 21/14a and 21/15b). By way of a full and final settlement, JOG will receive GBP750,000 from TEPUK.

Andrew Benitz, CEO of Jersey Oil & Gas, commented:

"We are pleased to have reached agreement on this legacy issue regarding the farm-out of our former interest in Licence P2032, which was relinquished in 2015."

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#232312

Postby Proselenes » June 27th, 2019, 11:54 am


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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#238324

Postby Proselenes » July 22nd, 2019, 8:01 am

Massive news today.

Totally changes the outlook..........due a massive rerating upwards now.

Well done all holders :)

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#238380

Postby Proselenes » July 22nd, 2019, 12:36 pm

https://www.investorschronicle.co.uk/comment/2019/07/22/jersey-gushes-higher-on-transformational-licensing-award/?utm_campaign=Copy+of+ICDailyEmail_new2016

......That’s because it is a transformational development for the company and one that has prompted analyst Daniel Slater at house broker Arden Partners to almost double his target price from 230p to 450p based on a risked net asset value (NAV) estimate of 537p a share, using a US$65 a barrel long-term oil price. That’s because the acreage awarded to Jersey in the licensing round includes the Buchan oil field that was discovered by BP in the mid-1970s and came onstream in 1981. Production continued until May 2017, when the Buchan Alpha platform was no longer compliant with the current Safety Case, by which point a total of 148m barrels had been produced............

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#238552

Postby Proselenes » July 22nd, 2019, 11:59 pm

https://www.offshore-mag.com/regional-r ... n-area-hub

........BP discovered Buchan the mid-1970s and production started in 1981, continuing until May 2017 when the Buchan Alpha platform no longer complied with the current Safety Case. By that point 148 MMbbl had been produced.

Buchan has light 33.5° API oil with a low gas-oil ratio of (285 cf/bbl), and an estimated 80 MMbbl-plus could still be produced, according to Jersey’s estimate.....................

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#238565

Postby Proselenes » July 23rd, 2019, 6:48 am

The current Market Cap (35m) is below Cash (13m) and Tax Losses Carried forward to use against future production(25m) totaling 38m GBP.

Therefore we are below Cash and TL.......and all the 104.5MMBO of proven oil is in the price for nothing.

So the share price could double again today, and it will still be undervalued significantly. Thats how cheap it was and still is.

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#238794

Postby Proselenes » July 23rd, 2019, 10:52 pm

Another director buy, this time at 185.5p levels.

They know, as we all do, this is massively undervalued based on that now they own 100% of 104.5MMBO recoverable proven oil.

Need to churn the weak holders out and allow profit taking before the next let upwards in the share price happens.

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Re: Jersey Oil and Gas (JOG) - North Sea Oil

#239253

Postby Proselenes » July 25th, 2019, 3:21 pm

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.


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