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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Jadestone Energy Plc | LSE:JSE | London | Ordinary Share | GB00BLR71299 | ORD GBP0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.20 | -0.76% | 26.00 | 25.50 | 26.50 | 26.50 | 26.00 | 26.50 | 1,389,749 | 11:00:15 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 323.28M | -91.27M | -0.1688 | -1.54 | 141.69M |
Date | Subject | Author | Discuss |
---|---|---|---|
03/3/2019 13:36 | Looks like oil field drilling and production development costs and are likely to stay low by historic standards for the foreseeable future according to latest research from Wood Mackenzie: “Oil and gas companies are back in the money,” Wood Mackenzie’s chief analyst Simon Flower said in their latest report. “Operationally and financially, all lights are green – production is up, costs are down and margins are up.” The oil majors are making more money now at $60 per barrel than they were five years ago when oil traded above $100 per barrel, Flowers said. However, oilfield services companies are lagging behind. Since 2014, oil producers have demanded highly material pricing concessions from service companies. Service companies, desperate for work as drilling and investment dried up, have had little leverage in negotiations. Surplus drilling rig capacity depressed pricing. WoodMac says that floating production system fabricators still only stand at a 50% utilisation rate. Meanwhile, even though the oil price and market has rebounded strongly from the 2016 recession lows, producers are largely “sticking to capital discipline” and “shunning growth.” Global upstream spending is expected to rise from $450 billion in 2016 to $500 billion by 2020, but that would still be sharply below the $750 billion spent at the 2014 peak. Rystad Energy in a hard hitting report suggests the US shale industry will struggle to cover debt payments AND pay out dividends this year. Rystad's analysis of the 33 largest shale companies in the US, accounting for 39% of production, finds that while the industry cut debt in the second half of 2018, they will likely struggle this year: “Shale E&Ps will struggle to please equity investors and reduce leverage ratios simultaneously. Despite a significant deleverage last year, estimated 2019 free cash flow barely covers operator obligations, putting E&Ps on thin ice as future dividend payments remain in question,” said Rystad Energy senior analyst Alisa Lukash. Rystad's research suggested that the industry may need to trim at least $4 billion from its promised dividend payments over the next seven years due to inadequate cash flow. The report is likely to prove a sobering read for investors in the sector as it not only suggests its best days are now in the rear view mirror but, that investor sentiment towards the sector could be at or close to an inflection point. | mount teide | |
03/3/2019 12:54 | The stock market is not always the perfect arbiter of value. Howard Stanley Marks, the serial value investor and founder of the multibillion, wealth management firm Oaktree Capital Management, once opined that: "All intelligent investing is value investing — acquiring an asset for less than its value means seeing what everyone else sees and thinking what no one else thinks." The previously unloved and poorly managed Stag and Montara Fields are proving to be good examples. | mount teide | |
01/3/2019 11:58 | The Stag Field is serviced under long term contract by the FPSO Dampier Spirit operated by Teekay Offshore. Teekay secured a 10 year contract extension for the vessel in 2014 - as part of the terms of the extension of the charter, Dampiar Spirit entered drydock during H2/2014 for $11m of capital upgrades. According to data sourced from the FPSO operaters and Lloyd's List the vessel is generating around $25,000/day of revenue under the contract(circa $15k/day of cash flow). The FPSO cost to Jadestone is currently circa $7.35/bbl of production, which could fall to circa $5.50/bbl in the success case for the infill well due to spud this month. The Dampier Spirit has an oil storage capacity of 700,000 bbl - some 205 days of current field production - so requires as few as just two shuttle tanker visits a year to deliver the annual field production to market. By way of comparison, Premier Oil is currently paying $575,000/day for the charter of the BW's Offshore's FPSO stationed at the Catcher field - circa $8.80/bbl at the current peak production rate - and need to offload the FPSO weekly to avoid production shutdowns due to storage capacity constraints. Stag Field History - Malaysia's Sona Petroleum Berhad agreed to buy the field for $50 million in 2015 (average oil price circa $55, down from $100 plus in 2014)) - long before the deal was due to complete the oil price commenced a further rapid decline (during which Sona elected to walk away by paying a penalty fee), on its way to circa $28 during H1/2016(the Stag field at that point had operating costs close to $70/bbl). Paul Blakeley/Mitra Oil(now Jadestone) stepped in at the oil market nadir in H1/2016 with an opportunist $10m offer - which was accepted. The deal completed in November 2016 by which time Brent had recovered to $56, double the H1/2016 market low. After taking over operatorship of the field in Q2/2017, Jadestone has reduced field operating costs to circa $30/bbl(target low 20's post two 2019 infill wells and further operating cost savings). As with Montara, Blakeley and his team clearly have considerable expertise at spotting lowly valued SE Asian O&G market midlife/mature asset purchase opportunities with material upside potential under their management eg: a poorly managed and oil price low ravaged asset (STAG) and a very poorly managed asset operated by an IOC looking to vacate the region (MONTARA) - long may it continue. One of the great attractions of investing in a highly experienced second phase operator in an energy hungry, high population region like SE Asia/Pacific Rim is the much reduced market competition for high quality mid/late life assets and, the mostly benign sea and weather conditions compared for example to the gale lashed Northern North Sea and even more challenging conditions found in the North Atlantic west of Shetland, which routinely experience huge depression generated oceanic swells (10 metre plus) and appalling weather conditions from September through to May. The near year round reality of operating in the Northern Sea Sea and North Atlantic: | mount teide | |
01/3/2019 10:50 | We're now into March. So Stag spud can't be far away. "The Company is planning to spud the Stag-49H well in early March 2019 and drilling operations are expected to take approximately 34 days." | someuwin | |
28/2/2019 16:29 | L2: 40.4p v 41.0 - Bidding 40.6p for volume into the close. | mount teide | |
28/2/2019 14:19 | Still not showing on LSE website though. Buffy | buffythebuffoon | |
28/2/2019 13:09 | Yes I noticed that. That's why I checked with JSE Investor Relations yesterday. They confirmed that JSE CEO would be presenting there. | someuwin | |
28/2/2019 12:56 | Thanks. Weirdly doesn't show on the calendar page, if you click on it. | alan00 | |
27/2/2019 19:52 | Half way down this page... | someuwin | |
27/2/2019 19:49 | Where does it say this?Thanks | alan00 | |
27/2/2019 19:34 | Jadestone Energy CEO Paul Blakely will be presenting at... London South East Oil & Gas Investor Evening Date / Time: Tuesday 12th March 2019 from 6:15pm Location: Brewers Hall, Aldermanbury Square (Off London Wall), London , EC2V 7HR | someuwin | |
27/2/2019 12:13 | Any linkys? | fardels bear | |
27/2/2019 00:52 | Latest Broker coverage: Cantor Fitzgerald - BUY - 94p price target - 'An Asian Treasure' - 11 Feb/19 BMO Capital Market - Outperform - 100p price target - 'Finding A Hidden Gem' 22 Nov/18 | mount teide | |
27/2/2019 00:16 | Costax - lol! - i'd lay off the crackpipe son - as they told you on the RRE thread; do some research worthy of the name instead of wasting your time spamming embarrassingly amateurish 'research' on companies you're invested in on dozens of other competitor company websites. | mount teide | |
26/2/2019 22:57 | Mcap too big,debts,small reserves,small daily oil debit for such a big mcap!!!! | costax1654x | |
26/2/2019 20:58 | ahh i get it now, this months highest share price ;) | meteors | |
26/2/2019 20:48 | Does breakout mean an increase in share price and also how do you know from that chart? (obvious noob here) Thanks | meteors | |
26/2/2019 20:48 | Does breakout mean an increase in share price and also how do you know from that chart? (obvious noob here) Thanks | meteors | |
26/2/2019 20:34 | Chart looks better on the TSX imo - close to breakout... | someuwin |
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