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.