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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 | |
---|---|---|---|---|---|---|---|---|---|---|
1.25 | 4.95% | 26.50 | 26.00 | 27.00 | 27.25 | 24.90 | 25.00 | 2,235,809 | 11:30:30 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 323.28M | -91.27M | -0.1688 | -1.57 | 136.56M |
Date | Subject | Author | Discuss |
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06/3/2019 16:31 | Jadestone Energy predicts significant production uplift in 2019 - Proactive today 'Australia- focused oil group Jadestone Energy PLC (LON:JSE) expects output will double this year as production from its two fields offshore Australia ramps up. Average production will be between 13,500-15,500 barrels per day, said the AIM and Australia-listed group, compared to an average 7,615 barrels in 2018. Production was running higher than that forecast in February due to flush production from a restart at Montara in the Timor Sea. Over the coming year, Jadestone has in-fill wells planned at Montara and Stag, its other producing asset offshore Australia. This new well at Stag will be the first on the field in six years and will add material production and significantly reduce unit operating costs, said the statement. Capital and significant offshore spending will be in a range of US$116-131mln. Jadestone also expects to get the go-ahead for the Nam Du and U Minh gas fields offshore Vietnam. Paul Blakeley, Jadestone’s chief executive, said "We are forecasting completion of FEED, gas sales agreement negotiations, and major contract tendering, leading to formal FID, all within the year. "Collectively, the catalysts we are forecasting for 2019 put us well on our way toward achieving our longer-term goal of growing to a circa 30,000 boe/d producer by 2023, with our existing asset base." ' | mount teide | |
06/3/2019 16:30 | OK, I'm in.. | fardels bear | |
06/3/2019 15:30 | Nothing I've read so far. | fardels bear | |
06/3/2019 15:19 | "2-3 years and on $500m+ revenue at quoted oil/gas prices could be paying 10p+/share." That would mean peeps buying now would be getting an annual divi of 25% of their current investment! PLUS the value of that investment having multiplied in value a few times too. What's not to like? | someuwin | |
06/3/2019 14:25 | Malcy "Jadestone Energy Jadestone has given the market some guidance this morning and expect 13,500-15,500 b/d this year with a longer term forecast of 30,000 b/d by 2023. Average unit production costs are $21-24 and the company expects capex this year to be in the range $116-131m. With operatorship of Montara expected in Q2 2019 the company is progressing faster than I had imagined although management is impressive and highly experienced. They say that they are making ‘good progress’ in Vietnam and expect sanction of the project this year. So much has changed with this company in the last year it is hard to keep up but the acquisition was an absolute peach and already paying out in spades, this company is without doubt going places." | someuwin | |
06/3/2019 13:43 | $320m+ revenue at assumed oil prices. Every $6m if used as a dividend = 1p/share. 2-3 years and on $500m+ revenue at quoted oil/gas prices could be paying 10p+/share. I'm expecting to see at some point a significant sized acquisition increasing revenue. Certainly possible to see a future $1b of annual revenue. | zengas | |
06/3/2019 12:00 | Some analysis/thoughts of today's update and new presentation: Feb production 15,369 bopd - Montara Feb production; 13,181 bopd At $65.5 current Brent price, $2.00 regional premium and, 5,500 bopd of circa $72 hedge, this suggests the Montara field is currently generating US$28.8 million per month of gross revenue and using even the previously advised $22/bbl of operating expenses (at 10,000 bopd of production), an astonishing circa US$19.6 million of monthly cash flow with ongoing asset optimisation expected to deliver further cost reductions. Ogan Komering - 'Jadestone anticipates re-engagement with Pertamina on negotiations to re-enter the PSC for up to a 40% working interest following the general elections in April.' With an assumed re-entry date of 01 October 2019, suggests a realistic prospect of a deal announcement during Q2/Q3. 'Potential for additional value accretive regional M&A in 2019' - suggests one of the two prospects that were previously advised as having reached the latter stages of evaluation and negotiation has significant potential and a deal could be concluded this year. Full year operating expenses in the range of $21-$24/bbl is an outstanding achievement as when Jadestone acquired Stag and Montara the average operating expenses were circa $75/bbl and circa $50/bbl respectively. Montara to add a further 6,200 bopd of production via the Q2 light well intervention(3,200 bopd June-Dec 2019), and 3,000 bopd in 2000 via H6 infill well in Q4/2019(less than 12 month payback time at $65 oil). Skua 11 Well intervention - opening up the previously shut-in heel of the well delivers accelerated Skua production in 2019 and higher overall field recovery, delaying the need for the Skua-12 infill well, saving $38m of 2019 capex; enabling a revised northeast location for optimal well placement in the future to maximise recovery. Considering the progress made to date at Montara, management's highly material 2019 programme to deliver further production optimisation and opex reduction, continues to highlight how poorly the previous owners managed the asset. Stag Infill well to spud next week - with a 34 day drill time - we should have news by mid April. Highly significant upside potential to further lower opex through production development - a 1,500 bopd production increase lowers opex by 50% from $30/bbl to $20/bbl. Commitment to look at the introduction of a cash dividend by Sep 2019 strongly validates the progress made during the last 12 months. | mount teide | |
06/3/2019 10:07 | Spangle - in the November presentation of the Q3/2018 Results, the market was notified of an uptime target for Montara in 2019 of 84%, a 17% increase over the 72% performance previously achieved. The 2020/21 target was advised as 92%. | mount teide | |
06/3/2019 09:12 | The target is 30,000 boepd by 2023 through self financed organic growth. | mount teide | |
06/3/2019 09:12 | Spangle, could that be due to the subsea umbilical replacement happening this year (page 9 of the pdf)? | homebrewruss | |
06/3/2019 08:45 | that 144p estimation, based on the c$0.71 jump to c$2.60 ? what is the timeframe on that estimate there seems to be no timeline on that chart... any idea? | meteors | |
06/3/2019 08:27 | "Vietnam At the Nam Du and U Minh fields, offshore Vietnam, FEED, gas sale and purchase agreement negotiations, offshore surveys, and tendering for major contracts are progressing smoothly, and are forecast to be finalised in Q3 2019 along with financing arrangements. The Company anticipates completion of these steps to culminate in field development sanction and a final investment decision later in the year." This is also huge for Shareholder value IMO - roll on Q3! | meteors | |
06/3/2019 08:27 | The weird thing is that even with all the work in the shutdown, Montara uptime is only anticipated to be 84%. I hope that's conservative | spangle93 | |
06/3/2019 08:24 | 144p per share value Page 5. (total tangigble asset value). Montara light well intervention Q2 after Stag infill well. Should add 3,200 bopd Jun-Dec this year. Saves $38m in capital spend. Montara infill well to add 1.8 mmbls P2 and up to 3,000 bopd entering next year. Further $15m of cost savings expected in 2019 (new supply boat/helicopter contracts etc). Committment to look at introduction of dividend at September 2019. | zengas | |
06/3/2019 08:11 | Excellent update. With plenty of upside potential. "...As we increase our influence and control over the Montara asset, in preparation for taking over operatorship, we are identifying more opportunities to generate value for shareholders, including innovative ways to add reserves and resources, while optimising both production rates and operating costs." "...The Company continues to evaluate inorganic opportunities to grow its presence in the Asia Pacific region, adhering always to its strict acquisition screening criteria." | someuwin | |
06/3/2019 08:06 | Highly impressive update - Montara under Jadestone's ownership is proving to be as transformational as the Board predicted when announcing the acquisition last summer. | mount teide | |
06/3/2019 07:50 | "Jadestone is a dramatically different company compared to this time last year. Following our acquisition of the Montara asset, offshore Australia, we have tripled production, all of it high quality premium-priced oil from offshore Australia, and are making good progress on a significant development project in Vietnam, which we expect to sanction this year. Such a promising statement to be made! :D | meteors | |
06/3/2019 07:24 | RNS Number : 9548R Jadestone Energy Inc. 06 March 2019 Jadestone Energy Inc. Jadestone Energy 2019 Guidance Outlook March 6, 2019-Singapore: Jadestone Energy Inc. (AIM:JSE, TSXV:JSE) ("Jadestone" or the "Company"), an independent oil and gas production company focused on the Asia Pacific region, is pleased to provide guidance for 2019. The Company has posted an updated corporate presentation to its website www.jadestone-energy 2019 Outlook -- Average crude oil production expected to be between 13,500-15,500 bbls/d -- Average production for February 2019 of 15,369 bbls/d following some flush production from Montara restart and continued natural flow from wells Skua-11 and Swift-2 -- Average unit production costs of US$21-24/bbl -- Capital and other major offshore spending of US$116-131mm -- Regulatory acceptance of Jadestone's safety case for the Montara asset and change of operatorship expected in Q2 2019 -- Infill wells on both Stag and Montara in Australia, as well as a riserless light well intervention campaign at Montara -- Development sanction for the Nam Du and U Minh fields in Vietnam -- Over 5,500 bbls/d of 2019 production covered by swaps at an average price of approximately US$72/bbl Paul Blakeley, President and CEO commented: "Jadestone is a dramatically different company compared to this time last year. Following our acquisition of the Montara asset, offshore Australia, we have tripled production, all of it high quality premium-priced oil from offshore Australia, and are making good progress on a significant development project in Vietnam, which we expect to sanction this year. "At the same time, we have changed the character of the Company's finances, such that we are well-positioned to deploy significant cash generated from operations to pursuing attractive reinvestment opportunities, while comfortably servicing our debt obligations and further strengthening our balance sheet. "As we increase our influence and control over the Montara asset, in preparation for taking over operatorship, we are identifying more opportunities to generate value for shareholders, including innovative ways to add reserves and resources, while optimising both production rates and operating costs. "Stag continues to improve in operating performance and the infill well we will shortly spud, the first at Stag in six years, will add material production and significantly reduce unit operating costs. "Meanwhile, we continue to make excellent progress toward development sanction of the Nam Du and U Minh gas fields offshore Vietnam, providing strong growth, further value crystallisation from within the portfolio and a diversification of product mix towards fixed price, long-term gas contracts. We are forecasting completion of FEED, gas sales agreement negotiations, and major contract tendering, leading to formal FID, all within the year. "Collectively, the catalysts we are forecasting for 2019 put us well on our way toward achieving our longer-term goal of growing to a circa 30,000 boe/d producer by 2023, with our existing asset base." Australia All of Jadestone's forecast 2019 production is crude oil from its two producing offshore assets offshore Australia, Montara and Stag, expected to be in the range 13,500-15,500 bbls/d. The Company is implementing measures to streamline operations on both assets, resulting in both lower gross operating costs and higher production rates in 2019. In addition to the impact of adding new production volumes through infill wells and well interventions, the Company anticipates increasing facility uptime towards a target of 84% at Montara this year. Jadestone intends to start its infill drilling campaign on the Stag field with the Stag 49-H well in March 2019, and with a Montara infill well towards year end. In addition, planning is well under way on an innovative light well intervention programme at Montara focused on three wells, including a high potential operation within the Skua-11 wellbore, which will target bypassed crestal oil pay in the Skua field. This activity, which is planned to commence in Q2 2019, will access substantially the same new resource as a new well, but at a fraction of the capital cost. Capped swap programme The Company's existing capped swap programme provides substantial downside oil price protection with over 5,500 bbls/d in 2019 swapped at around US$72/bbl. Additionally, 76% of these 2019 swapped barrels retain full oil price upside above US$80/bbl via purchased calls. Vietnam At the Nam Du and U Minh fields, offshore Vietnam, FEED, gas sale and purchase agreement negotiations, offshore surveys, and tendering for major contracts are progressing smoothly, and are forecast to be finalised in Q3 2019 along with financing arrangements. The Company anticipates completion of these steps to culminate in field development sanction and a final investment decision later in the year. In the meantime, Jadestone has built a highly experienced project management organisation at its Ho Chi Minh City office, in preparation for the detailed engineering, design, and construction phase, leading to forecast first gas production from U Minh and Nam Du in 2021. Additional assets Jadestone is maintaining an ongoing dialogue with Pertamina and the Indonesian authorities, with the expectation of confirming its interest in the Ogan Komering asset in Indonesia. The Company continues to evaluate inorganic opportunities to grow its presence in the Asia Pacific region, adhering always to its strict acquisition screening criteria. 2018 results Jadestone will release its 2018 operating results and consolidated audited financial statements, as at and for the 12-month period ended December 31, 2018 on April 18, 2019. | someuwin | |
05/3/2019 18:24 | I reckon its because of the Spud at Stag. odd its dropped if they are Buys. Maybe leaky news? Anyhoo looking forward to it regardless! | meteors | |
05/3/2019 17:10 | 2.83 million trade / £1.14m at 40.4p reported after the close. Considering the volume of buying at 40.6p and above over the last few days (yesterday's 1.43 million trade at 40.6p being the largest example), i suspect today's big single trade may be the clear out of a large sell order, reported to look like a buy at the full offer price. | mount teide | |
05/3/2019 13:18 | London South East | Oil & Gas Investor Evening with CEO’s from Jadestone Energy Inc, Tower Resources and InfraStrata, alongside independent oil analyst Richard Slape Date / Time: Tuesday 12th March 2019 from 6:15pm Location: Brewers Hall, Aldermanbury Square (Off London Wall), London , EC2V 7HR ... Paul Blakeley, President and CEO of Jadestone Energy Inc. (AIM and TSXV: JSE) Jadestone Energy is an upstream oil and gas company in the Asia pacific region, with a focus on production and near-term development assets. The company produces c. 14,000 bbls/d of oil from two projects offshore Australia. In addition, Jadestone is working toward development sanction of two gas fields offshore Vietnam. The Asia Pacific region is familiar territory to the Jadestone team, who have spent much of their careers running Talisman Energy’s highly successful Asia Pacific business, generating outstanding returns. Paul will provide an update on the company, and demonstrate the deep value opportunity within Jadestone, including a clear line of sight to grow production to c. 30,000 bbls/d by 2023. | someuwin | |
04/3/2019 16:36 | didn't seem to effect SP, was way before market close. Some guys before mentioned this was exchange of funds between hedge funds. Can somebody clarify what is happening here ? | meteors | |
04/3/2019 15:59 | 1,430,000 buy. | someuwin | |
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 |
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