reports
- Daniel Slater
Jersey Oil & Gas (JOG LN) - Government scope 3 guidance should help Bu...
The UK government has released new guidance for the inclusion of project scope 3 emissions in applications for environmental consents for oil and gas development projects in the country. This has come post the Finch court ruling in 2024, and an industry consultation carried out over the winter.
- Daniel Slater
Jersey Oil & Gas (JOG LN) - Full year 2024 results - Corporate
JOG has released its full year results to the end of December 2024. These reiterate the company’s significant cash position and the optionality this affords, alongside acting as a reminder of the company’s attractive asset position, including a full carry on its 20% stake in the >70mmbbl Buchan development project in the UK North Sea.
- Daniel Slater
Jersey Oil & Gas (JOG LN) - FPSO update - Corporate
JOG has announced that the agreement for the Buchan JV to acquire the Western Isles FPSO, having reached its longstop date at the end February 2025, has been terminated by Dana KNOC. The Buchan JV continues to work towards FID on Buchan, in the context of continued positive momentum in the UK oil and gas sector, with further government consultations recently launched and news on scope 3 emissions guidance and subsequently long-term tax terms upcoming. In our view, the value and attractiveness of...
- Daniel Slater
Jersey Oil & Gas (JOG LN) - Buchan license and development update - Co...
JOG has announced a two-year extension to its Buchan license, helping continue to underpin the project as the JV works towards project FID, including awaiting UK government updates on scope 3 emissions and the post 2030 fiscal regime. The project continues to represent an attractive proposition for the JV and for the UK overall. Alongside its Buchan work, JOG is also progressing potential UK acquisitions, which could accelerate cash flows and drive further value.
- Daniel Slater
Audio Note: Jersey Oil & Gas - It’s the wrong price
In this audio note, Zeus’ Dan Slater summarises the investment case for Jersey Oil & Gas. JOG shares are currently trading near a four-year low, around levels not seen since 2020, when oil prices had collapsed and well before the company executed its Buchan farm outs with NEO and Serica.
- Daniel Slater
Jersey Oil & Gas (JOG LN) - It’s the wrong price - Corporate
JOG shares are currently trading near a four-year low, around levels not seen since 2020, when oil prices had collapsed and well before the company executed its Buchan farm outs with NEO and Serica. JOG’s £13.0m cash holding means the EV is now minimal, but we believe the environment for UK North Sea operators is improving, with potential catalysts on tax and environmental terms due in 2025. These could help underpin a successful Buchan FID, which would act as a significant upside event. We beli...
- Daniel Slater
Audio Note: Jersey Oil & Gas - UK tax update provides additional clari...
In this audio note, Zeus’ Daniel Slater summarises the investment case for Jersey Oil & Gas. In the recent UK budget the government announced an update to the UK oil and gas tax regime, alongside two sector consultations on long-term tax and environmental rules. In our view, these announcements have provided helpful additional clarity on tax for JOG and the company’s Buchan development project, and a route to further clarity in the coming months.
- Daniel Slater
Jersey Oil & Gas (JOG LN) - UK tax update provides additional clarity
In the recent UK budget the government announced an update to the UK oil and gas tax regime, alongside two sector consultations on long-term tax and environmental rules. In our view, these announcements have provided helpful additional clarity on tax for JOG and the company’s Buchan development project, and a route to further clarity in the coming months.
- Stephane Foucaud
AUCTUS ON FRIDAY - 20/09/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX CN)C; Target price A$0.75 per share: Production boost at Anshof in October – The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir. The reservoir quality encountered at ANS-2A is consistent with ANS-2 (porosity and permeability ~20% higher than at ANS-3). The oil-water contact was encountered very close to the top of the water wet reservoir encountered ...
- Daniel Slater
- Daniel Slater
Jersey Oil & Gas (JOG LN) - Buchan update
JOG has announced that Buchan project operator NEO Energy has taken the decision to slow activities on projects across its portfolio, including Buchan. This is in response to the recent announcement that the UK government now believes new environmental guidance is necessary for UK oil and gas projects, in light of the recent UK supreme court ruling that scope 3 emissions now need to be taken account of in project environmental impact assessments. This new guidance will now be subject to a govern...
- Daniel Slater
Jersey Oil & Gas (JOG)
On Monday the UK government announced an update to the country’s oil and gas fiscal terms. This was largely as featured in the Labour party’s manifesto during the recent UK general election, though uncertainty around capital allowances applied to the Energy Profits Levy remains, with further clarity expected at the time of the UK budget on 30 October. As a UK company pursuing development FID on its Buchan field, this is relevant for JOG.
- Daniel Slater
Jersey Oil & Gas (JOG LN) - Labour plans are not a showstopper for Buc...
The UK Labour party recently released its election manifesto, including additional detail on its plans for UK oil and gas fiscal terms. In our interpretation, these plans would represent a limited, though still significant, deterioration in fiscal terms, and, on confidence from the industry that these would be unlikely to change again, we believe incentives to invest in new projects remain.
- Daniel Slater
- Daniel Slater
- Daniel Slater
Jersey Oil & Gas (JOG LN) - Share price fall creates opportunity
Since November, the JOG share price has moderated from a high of 250p to current levels of 149.5p. This is despite JOG having now made significant progress towards FID on its c.70mmboe Buchan project, with FID upcoming later this year. In our view this share price move is unjustified, with current levels further enhancing the value on offer, and making an attractive opportunity for investors
- Daniel Slater
Hybridan Small Cap Feast - 26 Feb 24
26th February 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obj...
- Daniel Slater
- Daniel Slater
Jersey Oil & Gas (JOG LN) - Corporate update reiterates Buchan progres...
JOG has released a corporate update, reconfirming expected FID and first oil timing for its Buchan development project, and the end 2023 cash holding, which will be augmented by significant further farm out payments during 2024.
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