Jadestone Energy Share Discussion Threads

[lauders] 05/5/2021 02:04

So Premier Miton have been buying a nice chunk by the looks of it:

[mount teide] 04/5/2021 19:15

The largest international shipping freight index - the Baltic Dry Index - is up an incredible 651% to 3,053 ( a ten year high) from the Covid low of 407 set less than a year ago.

The global container shipping and oil tanker index's have also seen a very strong recovery and demand for ship bunkers.

Shipping bunker prices and demand were back to their pre-pandemic levels in Q1/2021 ...... the introduction of vaccination programs is supporting even higher bunker demand and higher prices in Q2.

Going forward the consensus view is that the relative price of VLSFO to the other oil benchmarks is likely to rise strongly as diesel demand picks up, as MGO(Marine Gas Oil) production will increasingly shift away from the shipping bunker market to its more typical use as a major feedstock to produce diesel for the surging road transport market.

Source: International Shipping News And Lloyd's List

[mount teide] 04/5/2021 11:52

L2: opened 2 v 1 / 67p v 69p

Now 4 v 3 / 68p v 70p ( rest between 71p and 73p)

[croasdalelfc] 04/5/2021 11:47

So as the worst of the Covid world is hopefully behind us the company has used the covid year to clean the house. Dropped TSX listing - saving cash - moved plc to London - to entice more iisreduced share capital to be able to pay higher dividends - dropped legacy assets with appropriate write offs and moved on from legacy litigation. First class management.

[croasdalelfc] 03/5/2021 21:57

.....All offshore and supply base personnel engaged on the Assets are expected to continue in those positions as employees of Jadestone and the Company intends to expand its onshore team in Malaysia, in support of the Assets, with a primary focus on building a workforce of local Malaysian nationals......

[croasdalelfc] 03/5/2021 21:49

35 new jobs advertised in Malaysia - with more to come .I would have thought they would take on the SapuraOMV staff at least from the operated assets .. Is there something bigger at play here? hTTps://www.jadestone-energy.com/about-us/careers/vacancies/

[king_baller] 03/5/2021 18:54

Fantastic acquisition. Looking forwards to the confirmation of being paid to acquire Maari! Management are a class act, and the timing/region couldn’t be more perfect for wealth creation!

[fardels bear] 02/5/2021 20:09

Anybody read the latest Investment Times from HL?Garbage that reads as if written by primary school children for primary school children. Certainly gone way downhill over the last ten years.

[mount teide] 02/5/2021 08:43

With the Majors increasingly rushing for the exit door as 'cost reduction, improving shareholder returns and decarbonisation efforts take on greater precedence' Petronas is having to highly sweeten the terms for Malaysia's 2021 bid round of exploration blocks.

Petronas has also improved incentives for the developments of small field assets and late-life assets, by allowing bidders to set their own desired production splits in their applications.


Petronas’ move to sweeten bid terms seen as strategy to attract upstream investments - Malaysian Sun - March 2021

PETALING JAYA: Petroliam Nasional Bhd’s (Petronas) decision to put up 13 offshore exploration blocks for bidding in the 2021 Malaysia Bid Round (MBR), an improvement compared with the nine and six blocks that were offered in the 2018 and 2019 rounds respectively, implies that the country remains keen to attract more foreign direct investment into the upstream sector to spur new exploration and stem declines in its proven reserves base.

In a note, Fitch Solutions pointed out that international oil companies’ interest in traditional oil and gas plays risks cooling off as cost reduction, improving shareholder returns and decarbonisation efforts take on greater precedence.

“Petronas is expected to maintain its focus on domestic activities, although the growing investment burden on the state-owned entity (SOE) looks unhealthy, while the SOE itself has sought to diversify into new business areas in recent quarters,” it said.

It acknowledged that MBR 2021 came at an opportune time, as this year is set to see muted upstream appetite return as Covid-19-related headwinds lift and global oil prices strengthen.

Moreover, Petronas has introduced three new production sharing contract (PSC) terms, each carrying strengthened incentives for specific project types in an attempt to attract investors.

For the latest bid round, of the 13 blocks, nine are situated in shallow waters near proven producing zones and at water depths of no more than 200 metres, while the rest are in deep waters, offshore Sabah and Sarawak. The round also attracted some 250 attendees from across Europe, North America and within Asia-Pacific.

Interested firms have until August to submit their bids, while the evaluation and award of the PSC to successful bidders will take place before the end of 2021 according to Petronas’ current timeline.

Fitch Solutions highlighted that the SOE has introduced “enhanced profitability terms” (EPT) for shallow water blocks, which feature a 70% ceiling for cost recovery compared with 50% in regular PSCs, as well as a higher range set for contractor-take of profits to 30%-90% depending on profitability of an underlying asset, from 20%-70%.

It said Petronas also improved incentives for the developments of small field assets and late-life assets, by allowing bidders to set their own desired production splits in their applications.

However, the contract terms for the four deepwater blocks will continue to abide by existing 2018 revenue over cost (ROC) terms whereby permitted cost recovery ranges from 30% to 80% and the contractor-take of profits is calculated using the ratio between cumulative income and cost.

Apart from that, the round will have other non-fiscal incentives, which include the ability to bid for more than one block under a single PSC scheme, the ability to transfer work commitments from one block to another and simplified administrative processes during evaluation, milestone review and audit phases.

In addition, Petronas Carigali will no longer be entitled to a mandatory equity stake and itwill be subject to the bidding process if it wishes to partake in a PSC.

On the whole, the research unit sees the stronger PSC terms and potential for new block awards provide upside risks to forecasts for future reserves and output growth in Malaysia.

“However, it remains to be seen whether the set of incentives outlined above will be enough to coax global IOCs to invest,” it said.

“For instance, the shallow water blocks may not have the size or the scope to attract larger oil majors, although smaller domestic firms or oilfield services companies may find the scale sufficient to be profitable.”

Fitch Solutions reasoned that the anticipated cooling off of IOC interest is as much a reflection of an ongoing shift in long-term corporate strategies than a mere reaction to uncompetitive licensing terms, as fossil fuel developments are increasingly shunned in favour of renewables and decarbonisation efforts.

“This is already affecting other oil and gas markets across emerging Asia where IOCs have begun to slow investments and divest upstream stakes, although Malaysia is a much lower risk market than similar sized regional peers and so may appeal to firms that are risk-averse.”

Petronas has introduced ‘enhanced profitability terms’ for shallow water blocks and improved incentives for the development of small-field assets and late-life assets, notes Fitch Solutions.'

[thommie] 02/5/2021 08:33

sleeven, Im afraid I cant contribute anything about last date of the pre emption right. but refering to the probability of it, it is normally hardly unlikely as I would think that sellers first speak with their partners of the psc if they wanna takeover their stake of the license. and as majors are commonly rushing to exit oil production, particularly small matured fields, I dont see a big risk. maybe they are glad that someone else is in that could be willing to take their own stake in the near future as well. but who knows :) as we see with maari nothing is done until it is done...

[sleveen] 02/5/2021 07:51

When does the first dibs clause expire?

Given the great deal on the table might the other oil company exercise it first dibs?

[fardels bear] 01/5/2021 20:21

Probably best avoiding New Zealand while the magicians are in charge.

[mount teide] 01/5/2021 19:16

Acquisition of Peninsula Malaysia Assets - Presentation

You don't need to be a AAA rated Investment Fund Manager with a team of analysts specialising in the O&G sector to work out where Jadestone's next acquisition is likely to come from.


Slide 6 - highlights the Jadestone Vietnam and Peninsula Malaysia assets alongside the legacy Repsol assets (which were Talisman Energy assets prior to the 2016 takeover of Talisman SE Asia for circa $6bn), all sitting close together in the same prolific O&G basin.

Malay Basin - A familiar address for the Jadestone(former Talisman Energy) Team

— Malaysia’s main development focus since the 1960’s
— Resources held primarily by majors ~ potential for further M&A

Familiar subsurface environment
— Close to former Talisman acreage and current Jadestone assets in Vietnam
- We have extensive experience with these types of reservoirs

[11_percent] 01/5/2021 13:27

Good info bamboo2....cheers.

[bamboo2] 01/5/2021 11:49

FB, Know what you mean! :o)

[fardels bear] 01/5/2021 11:06

Sounds like mine after a year of no sailing and lots of cake.

[bamboo2] 01/5/2021 08:25

JSE confirmed both a Double bottom and an INVH&S reversal pattern yesterday.

The DB targets min 72.4, the INVH&S min 73.6

Resistance approx 71, 81

[davidspringbank] 01/5/2021 01:25

Excellent news, stunning deal to catapult us from base level.

Chris, thank you for your notes.

[croasdalelfc] 30/4/2021 19:47

Hi Spangle - sorry - I only use ADVFN on my phone and it doesn't give notifications of DMs . I note you message from Feb - which I also haven't answered- :) will answer both this weekend - the first glass of red is about to pour after picking up son from football training - have a good weekend ;)

[spangle93] 30/4/2021 17:18

Croasdale o/t did you get my PM on Tuesday?

[croasdalelfc] 30/4/2021 17:08

Imagine the purchasing firepower after Maari completes : 2P reserves increased plus another $20m or so in the bank .RBL facility would be capable of $300m plus the $120m cash .Then imagine it after this acquisition? Say Q4 : another 12m 2P , over $150m cash :))

[croasdalelfc] 30/4/2021 17:08

Imagine the purchasing firepower after Maari completes : 2P reserves increased plus another $20m or so in the bank .RBL facility would be capable of $300m plus the $120m cash .Then imagine it after this acquisition? Say Q4 : another 12m 2P , over $150m cash :))

[mount teide] 30/4/2021 16:47

4 transactions totalling circa 2.4 million shares at the full 69p offer price reported following the closing bell.

[mount teide] 30/4/2021 16:13

L2: 2 v 1 / 67p v 69p (then rest between 70p and 72p)

[king suarez] 30/4/2021 16:03

If they can add 6k bopd with just $9m cash, imagine what they can do with the rest of the $80m+ we have in the bank..