JOG currently trades at a c55% discount to its pre-farm-out share price (April 2023), despite the Company successfully completing two farm-outs to industry heavyweights NEO Energy and Serica Energy, providing the Company with a fully carried 20% stake in the 70mmbbl Buchan development. JOG remains well positioned to navigate the current headwinds facing the UK oil and gas industry, with cash at YE24 of £12.3m and a current cash run rate of £1.5m.
