Jadestone Energy Share Discussion Threads

[mad foetus] 09/1/2020 15:26

Just as well they didn't lose the case!Lols, just a pause, normal business to be resumed soon

[mount teide] 09/1/2020 15:23

'With the satisfactory resolution of this matter, we can now refocus on our strategy to deliver exceptional value to shareholders, through investment in producing assets and DISCOVERIES WHICH CAN BE QUICKLY DEVELOPED FOR EARLY CASH FLOW"'

Paul Blakeley often leaves clues with respect to near term business development activity in his RNS comments.

Today's RNS looks to be another - suggesting an intention to proceed with the fast track development of the Vietnam nat gas assets on receipt of government approval of the FDP.

[mount teide] 09/1/2020 15:02

Yes - large mid-price II to II trade.

Bloomberg $100 Crude Oil Article - post 2847

You have to wonder about the common sense, never mind the intellectual capabilities of the journalists who wrote the article - as with the price of LFSO in Singapore as they report it, it's complete nonsense!

If Santos want circa $100/bbl for their latest spot cargo sold FOB, why would anyone in their right mind pay this if the current best price they could achieve for it after paying transport and blending costs to comply with IMO 2020 of circa $5/bbl is $95/bbl.

The current price of LSFO in Singapore over the last week has been circa $736/tonne / $113/bbl - if this figure had been used the article would actually make sense.

[gymratt] 09/1/2020 14:49

Mates rates?!

[mo2550] 09/1/2020 14:43

Might explain drop over last few days ???

[mo2550] 09/1/2020 14:41

IMHO large NT Purchase

[gymratt] 09/1/2020 14:33

Can you give your thoughts to a novice!

[gymratt] 09/1/2020 14:33

Interesting that the two other big trades add up to the 1.4m

[gymratt] 09/1/2020 14:28

Any ideas on the big trade , MT? Time stamp, buy or sell? Either way I guess it's in the price now !

[mount teide] 09/1/2020 10:53

$100/bbl for premium grade Aussie heavy sweet crude when Brent was $68/bbl and the spot market price of LSFO at Singapore is $113.

This would mean the buyer after transport and blending costs would still clear circa $8/bbl profit. Something most would have ripped your arm off for until IMO 2020 came along and greed reared its ugly head!

[mount teide] 09/1/2020 10:38

We're investors NOT gamblers!

[costax1654x] 09/1/2020 10:35

Anyone noticed ORM ?Gold asset in Salamanca and 5 mil £ Cash,no debts, for 3 mil mcap!

[mount teide] 09/1/2020 10:33

With reference to Santos' 4-5 month dry-docking of its Van Gogh Field FSPO - The risk with sending any FPSO to a statutory docking after it's been operating on an offshore oil field for up to two decades, is that a close inspection will be carried out on the underwater area of the hull shell plating for the first time in circa 15-20 years.

Putting the owners and charterers at risk the Class Surveyors may find something that requires immediate remedial action under the rules, that generates costly over-runs in terms of the time and cost budgeted for the docking.

Under current shipping industry regulation, every sea-going vessel has to undergo two dry docks every 5 years. FPSO's get around this rule for the first 15-20 years of their operating/commercial life by obtaining a dispensation to carry out in-water surveys in lieu of dry-dockings.

[croasdalelfc] 09/1/2020 09:57

And one of those fields is closing from April to August - can't remember if it's Vincent or Van Gogh

[mount teide] 09/1/2020 09:51

Van Gogh, sold at a premium of as high as $19 to Dated Brent in December.

Top Quality Crude Offered Near $100 a Barrel on New Ship Rules - Bloomberg - today

'Australia’s Santos Ltd this week is seeking to sell a cargo of March-loading Pyrenees, a dense and low-sulfur oil, at a premium of $32 a barrel or more above Dated Brent, according to traders taking part in the tender. While it hasn’t been sold at that level yet, it would be equivalent to about $100 a barrel given that the global physical benchmark is trading at about $65 a barrel.

Demand for so-called heavy-sweet oil like Pyrenees has surged in recent months due to cleaner global ship-fuel standards, known as IMO 2020, which took effect Jan. 1. The new rules have boosted the value of these crudes that are low in sulfur and also viscous, which makes them better for marine engines. Low-sulfur marine fuel, another IMO compliant type of oil, cost about $640 a ton this week in Singapore, the equivalent of about $95 a barrel.

Pyrenees is also particularly valued because of its relative scarcity, with production of about 15,000 barrels a day pumped from fields off Western Australia, according to BHP Group Ltd, the majority owner and operator. A cargo to load this month was sold in November at more than $17 a barrel over Dated Brent. Another Australian heavy-sweet crude, Van Gogh, sold at a premium of as high as $19 to Dated Brent in December.'

[beeks of arabia] 09/1/2020 07:25

A few more quid on the bottom line :)

[mount teide] 09/1/2020 07:24

Jadestone Energy Announces Award of Damages in Respect of Philippines Arbitration

January 9, 2020 - Singapore: Jadestone Energy an independent oil and gas production company focused on the Asia Pacific region, announces an award of monetary damages, plus a portion of the legal costs and expenses, as a result of an arbitration action between its wholly owned subsidiary Mitra Energy (Philippines SC-56) Ltd ("Mitra SC56") and Total E&P Philippines BV ("Total").

Mitra SC56 commenced the arbitration action in response to a breach of the 2012 farm out agreement between Mitra SC56 and Total (the "FOA"), claiming that, among other things, Total failed to drill an exploration well on the deepwater Halcon prospect, located within the block covered by Service Contract 56 ("SC56") in the Sulu Sea, offshore the Philippines.

The tribunal found in favour of Mitra SC56, concluding that Total breached the FOA, awarding (i) monetary damages to Mitra SC56 of US$11,075,000, less specific expenditures incurred prior to the breach to be agreed or determined if the parties cannot agree; and (ii) legal costs of approximately US$4,300,000. The tribunal's costs will be borne by Mitra SC56 and Total 25:75.

When considering the aggregate award, together with amounts payable by Mitra SC56 including legal fees plus repayment of a third party funding facility used to finance the arbitration action and other related fees, the Company anticipates it will not experience a significant change to its cash position.

Total remains the Operator of SC56 with a 75% interest, with Mitra SC56 holding the remaining 25%.

Paul Blakeley, President and CEO commented:

"The SC56 asset is not consistent with our strategy and was inherited from the former Mitra Energy management team. It has remained in the Jadestone portfolio solely as a result of the carried well commitment, which was intended to provide a cost-free option to further test this frontier basin. It was important for the Company and our shareholders to pursue our legal rights to a successful conclusion. With the satisfactory resolution of this matter, we can now refocus on our strategy to deliver exceptional value to shareholders, through investment in producing assets and discoveries which can be quickly developed for early cash flow."

[croasdalelfc] 09/1/2020 07:18

Sorry wrong board

[croasdalelfc] 08/1/2020 19:27

One for Spangle ;) https://pubs.spe.org/en/jpt/jpt-article-detail/?art=6402

[mount teide] 08/1/2020 16:27

S'Pan - my thoughts too, particularly since the joint house brokers were controlling the action - no one got poor underestimating house broker/MM greed.

We've seen it here before - they have previous 'form' the British Horse Racing Board handicapper would be impressed with, never mind AIM Regulation.

[saucepan] 08/1/2020 16:14

Vietnam news is likely to drop any day soon, judging by Company guidance. I wonder if today's markdown was an attempt to accumulate stock, ready to sell it on with a mark up when news lands?

[gymratt] 08/1/2020 15:33

Bottom in, dip being bought and back up we go! AIMMHOOC!

[mad foetus] 08/1/2020 15:23

I think that figure came from an IC comment when they basically said looks very cheap but we don't buy O&G: sorry to not be more specific, not at desk!

[mad foetus] 08/1/2020 15:22

I seem to recall 31 (cents?) as an EPS being bandied about in September. Was that for 2020: broker coverage is so thin.