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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
  -1.00 -1.13% 87.50 87.00 88.00 88.50 87.50 88.50 284,436 12:51:36
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 159.4 -41.9 -9.5 - 406

Jadestone Energy Share Discussion Threads

Showing 5901 to 5924 of 6500 messages
Chat Pages: Latest  248  247  246  245  244  243  242  241  240  239  238  237  Older
DateSubjectAuthorDiscuss
30/6/2021
15:13
5m barrels accrued at ~$66 for the acquisitions.That is a whole years production ie 2019 was 4.6m from Montara and Stag iirc.
croasdalelfc
30/6/2021
14:31
The 3.6m barrels accrued (4m by end Sept) via Maari acquisition is one big factor - worth $257m revenue by Sept.Alone imo that is worth 20p on share price.The PM assets transaction also has 1.1m boe accrued ( 1.6m by End Sept) worth ~$100m revenue by End Sept .That is worth another 10p on share price given the lower transaction cost .H6 well completion on time and budget with 2000 bopd is worth 5p .Skua workovers another 3p.
croasdalelfc
30/6/2021
14:25
No, it needs to see Maari complete.
fardels bear
30/6/2021
13:54
I don't understand the low share price and low broker targets for Jadestone. Close to 20% of the market cap is covered by net cash, so the market value is a very low multiple of annual free cash flows? Does the market just need to see an expansion of reserves at Montara before being valued more favourably? I can only think this is what holds up back right now?
king suarez
30/6/2021
12:39
Broker Jefferies began Jadestone coverage today. Initial PT 100 pence.
bradvert
30/6/2021
09:47
On Wednesday 23rd June 2021 - NZ Energy and Resources Minister Dr Megan Woods said legislation put before Parliament this week would impose an explicit statutory obligation on petroleum permit and licence holders to carry out and fund decommissioning of petroleum fields. Source: NZ Herald Today.....'Both OMV NZ and the Company continue to work to satisfy the remaining outstanding conditions and to complete the transaction.' Since the NZ Government's new legislation reshape's the rules of business by potentially creating unlimited perpetual liability for former O&G field owners/operators - today's RNS suggests OMV are sufficiently comfortable with their responsibilities under the new legislation to continue working with JSE to meet the remaining outstanding conditions to complete the transaction. AIMHO/DYOR
mount teide
30/6/2021
09:46
https://www.nzherald.co.nz/business/government-changes-rules-on-oilfield-clean-up-after-taxpayers-foot-bill-for-tui/7GGLM27HWHC7HXU6CS7P53ZYAA/
croasdalelfc
30/6/2021
07:23
Yes probably increased confidence they can close Maari deal - only a two month extension
croasdalelfc
30/6/2021
07:17
'Further to the Company’s announcement on 9 June 2021, we are pleased to confirm that following discussions with the seller OMV New Zealand Limited (“OMV NZ”), both Jadestone and OMV NZ have agreed to extend the long stop date under the Maari sale and purchase agreement to 31 August 2021. Both OMV NZ and the Company continue to work to satisfy the remaining outstanding conditions and to complete the transaction.' An improvement on H2/2021 - suggesting improved confidence.
mount teide
29/6/2021
23:28
Which great recession are they referring to? They seem to come around with increasing regularity these days.
fardels bear
29/6/2021
23:08
‘A mix of government financial aid, vaccination rollout and strong consumer demand have come together to generate an economic recovery with growth in international trade not seen since the Great Recession’ Hackett Associates - Maritime Strategy and International Trade Logistics Consultants
mount teide
29/6/2021
22:37
Drilling Rig 'Valaris 107' is stationary in position 1km SSW of FPSO Montara Venture - tugs are no longer in attendance - suggesting market notification of the commencement of drilling the Montara Infill Well should be imminent. hTTps://www.marinetraffic.com/it/ais/home/shipid:753567/zoom:14
mount teide
29/6/2021
08:25
Opened 1 v 2 / 72p v 74p (rest between 75p and 78p) Now 2 v 1 / 72p v 74p (rest between 75p and 78p)
mount teide
28/6/2021
15:59
Now 1 v 2 / 72p v 74p (rest between 75p and 78p)
mount teide
28/6/2021
14:32
Now 1 v 3 / 72p v 74p (rest between 75p and 78p) Paul Blakeley on completion of the Montara acquisition described it as the best deal he had negotiated in the last 25 years - the performance of the field since completion of the $82m net deal has been remarkable and fully support his view - as does his more recent comment that Montara's huge free cash flow will be the principal driver of the company's business development over the next 5 years. Since 28/09/2018 Montara has produced circa 9.6m bbls of oil, generating around $400m of operating cash flow before changes in working capital. As of 31/12/2020, Montara has 2P Reserves of 23 mm bbls based on a reserves report prepared by ERCE. Current Montara and Birds OPEX is in the range of $17.5-20/bbl, which should drop to around $15/bbl after successful completion of the H2/2021 Montara Infill and Skua Well Work-Over programme. Some background on the Montara Field - it was expected to commence production at 28,000 - 35,000bopd of light, low sulphur crude but, the owner PTTEP (Thai National Oil & Gas Company) elected to save money on the upfront development costs, and so cut the number of initial production wells by 50%. This resulted in first production peaking at circa 14,000 - 15,000bopd ...... nearly a decade later and with just one infill well drilled since (by Jadestone), Montara's production is still in the 9,000 bopd - 10,000 bopd range from field uptime in the mid 80% range since taking ownership - up from under 70% under PTTEP's troubled operatorship. On completion of the acquisition, the Jadestone management estimated that field production for the previous 6 months was circa 7,000 bopd and OPEX North of $40/bbl. AIMHO/DYOR
mount teide
28/6/2021
14:26
Now 1 v 2 / 72p v 73p (rest between 74p and 77p)
mount teide
28/6/2021
14:11
Now 1 v 1 / 71p v 72p (rest between 73p and 76p)
mount teide
28/6/2021
14:07
It's alive ! Maybe it will now start to catch up with the oil rally - Brent Crude $76
thedudie
28/6/2021
13:48
L2: Opened 2 v 1 / 69p v 71p (rest between 72p and 75p) Now 1 v 3 / 71p v 72p (rest between 73p and 76p)
mount teide
27/6/2021
07:23
Considering the quality of the management, production development potential of the assets, the attractive purchase price and quality of the acquisitions nearing completion, and the unprecedented pipeline of priced to sell high quality assets becoming available from major and National Oil companies disinvesting/transitioning from the sector into renewable energy, I intend to hold for at least a further 3-5 years. I believe the strengthening tail wind generated by the quick recovery in oil demand following the huge destruction of production wreaked by the global pandemic, when layered on top of the waterfall drop in exploration by the industry over the last 5 years, the outstanding regional energy market growth prospects, and fundamentals for specialist second phase operators; the huge cash flow generating potential of Montara driving the business for many, many years to come, makes the risk/reward of the Jadestone Energy investment case highly compelling/almost unique in the sector. As Wood Mac recently confirmed, there is a growing number of M&A opportunities emerging within the maturing O&G basins of SE Asia, Australia and the Pacific Rim with very limited competition for the assets. Excellent opportunities are being sold at highly distressed prices by North Sea standards. The fundamental value proposition however, is the reinvestment prospects post acquisition, where Jadestone always looks for much greater potential than the headline acquisition price. The primary difference between Jadestone and the North Sea players is that the company is focused on the Asia Pacific region where the returns are on average much higher, the competition very limited and asset purchase prices relatively modest - high quality assets are increasingly being sold via bilateral deals, with no competition. What’s more, product pricing is highly favourable in South East Asia. Low sulphur crude oil is routinely sold at a material premium to Brent and natural gas is mostly contracted in the $8.00 – $9.00/mcf range (an average of more than three times the US Spot market price over the last decade). In common with Hedge Fund Manager, Jadestone NED and major shareholder David Neuhauser I believe Jadestone Energy can be worth £1.50 - £1.75 a share during 2022, assuming management successfully execute the fully funded production development programme and complete the proposed New Zealand and Malaysian acquisitions. And perhaps much more if they add another Montara scale acquisition in the interim. At $75 Brent, with Montara's ultra low OPEX/bbl providing huge cash flow generation and excellent investment downside protection, as a result of having an early life $108 million converted cost FPSO servicing the Montara field, generating just $17.5/bbl op expenses for Montara and its satellites on production of just 10,000 bopd, I see current fair value today as somewhere in the 100p range. By way of comparison, Premier's Catcher field FPSO OPEX/bbl on a similar production volume would be circa 5-6 times higher! The investment case is underpinned by having a management highly experienced at operating in the Asia Pacific region with longstanding relationships with the principal stakeholders, and deep insight into many regional M&A opportunities. They’re already credited with creating two highly successful independent E&P businesses - one in the North Sea and the other in Asia Pacific - and like our two high performing hedge fund shareholders, believe they can replicate this success again at Jadestone Energy, not least since they're now operating with the advantage of the recovery stage of a new oil market cycle, a post pandemic recovery in demand, and a huge programme of disinvestment from the mature O&G basins of the world by the oil majors; rather than the head winds of the much more demanding decline stage of the oil market investment cycle they mostly operated under when at Talisman Asia. Since Jadestone, in common with most O&G industry quoted companies, is currently trading at a deep discount to the value of the company’s assets, there is a wide margin of safety here. An investment today in Jadestone Energy is not just a direct play on the recovering oil and gas price, but a play on the management’s ability to successfully execute organic growth projects and, identify and buy distressed/unwanted assets at attractive prices and, develop/considerably extend the production life through reinvestment. If the astonishing 2018 Montara acquisition deal ($195m gross/ $82m net / with an estimated annual operating cash flow of circa $200m at $75 Brent), and their incredible track record at Talisman Energy is a reliable guide, an investment here is probably in as safe a pair of hands as the industry can offer. AIMHO/DYOR Declaration: Currently hold 1.22m.
mount teide
25/6/2021
20:54
Leigh Goehring on the Many Factors Sending Oil Prices Higher - 24 June 2021 'Managing Partners Leigh Goehring and Adam Rozencwajg recently hosted a video conference call along with Stacy Havener, CEO and Founder of Havener Capital Partners. During the event, they discussed the outlook for different natural resources including oil and copper as well as factors affecting investors such as inflation. Here is Leigh discussing the current state of oil-related equities. “Oil today is in the class of being an uninvestable asset. And if you just look at the way oil stocks are performing, they've gone up a lot. They've gone up about 120% off their bottoms that were reached back in the beginning part of April of last year. But as far as we can tell, there has been no real buying that has taken place in the oil names. This is hard to believe, but since they bought them back over a year ago, most of the upward pressure on oil stocks has come from short covering from both hedge funds and algorithmic traders who have been massively short the energy space over the last several years. Of course, it's that massive shorting which has made oil stocks such radical underperformers. And just to give you a statistic to show you that this is indeed true. If you look at the E&P index which is embodied in the XOP ETF, the open interest in that ETF over the last year, since it bottomed back in April last year, is only up 15%. And usually what happens is that when true buying comes to the open interest, ETFs begin to expand. Now, you compare oil relative to copper, where there has been real buying and we'll talk about copper in a minute. For example, the various copper ETFs, their open interest in the copper stock ETFs are up 700% over the last year. Now how'd you like that? 700% versus 15%. There's no buying taking place with long only fund managers in the oil space. However, that is going to change because the underlying fundamentals in the oil market are excellent. And there's several issues in the oil market today that very, very few people understand. In fact, I would say that next year, we're going to enter a situation in global oil markets where we have never ever been before in the 160 years of history of oil, since it was discovered back in Oil Creek, Pennsylvania 1850 by Colonel Drake. The global oil market has always been what I would call a structural surplus. There's always been more supply than there has been demand. Even back in the two energy crisis in the 1970s, the '73 Arab oil embargo and the 1978 and 1979 Iranian hostage crisis. There was a temporary supply disruption, but there was never a situation where there was more demand and there was oil supply. However, based upon our modeling going forward over the next year, given the fact that global oil supply has now fallen by about 2 million barrels a day, specifically outside of OPEC, that if we ever get back over 100 million barrels of global oil demand a day, which we think we're well on the way to have that happening, that next year we're going to be in a situation where we're going to have 101 million barrels a day of demand. And we may only have 100 million barrels of oil supply. And like I said, we have never ever been in that situation before in global oil markets. How oil prices react to that, is going to be very, very interesting. But that's the setup. And there's also something else that's very interesting about oil. I don't know if you've followed the various news headlines last week, that the IEA, that is the International Energy Agency, which is sort of the global energy watchdog group that monitors global oil markets for the OECD countries. The IEA came out with a grand pronouncement, that they're recommending that all oil companies cease upstream capital spending starting now. So we're already supply constrained in oil because of the huge cutbacks in capital spending that have taken place in the last two years. And the fact that the shales, which have been 100% of the world's supply growth over the last decade have now stopped growing for a lot of interesting geological reasons, which we've written extensively about in our letters - this is only going to further crimp global oil supply going forward. And so the setup for oil, which, like I said in our last call, we outlined that it had fallen firmly into the bucket of being an uninvestable asset, is now going to wind up being the star performer in this coming decade as we progress through the 2020s.” '
mount teide
24/6/2021
13:42
Baltic Dry Index - Cost to ship commodities world-wide - has surged to a 12 year high of 3,147 after bottoming at 298 in 2016 following 8 year of falls post the 2008 shipping cycle peak, and 398 at the pandemic low in early 2020.
mount teide
24/6/2021
12:11
An example of how JSE extend field life:Dec 2017 CPR Montara and Stag reserves:1P : 27.9mb2P: 45.3mb3P : 61.1mbDec2020 CPR :1P: 23.2mb (-4.7mb)2P: 37.1mb (-8.2mb)3P: 54.4mb (-6.7mb)In that time they have produced 10.5m barrels.After H6 is online then some 2P moves to 1P
croasdalelfc
24/6/2021
08:27
Shipping's boom and bust commences a new boom cycle ! With the Baltic Dry Index falling a record 98.8% peak to trough during the last cycle - you would think the industry would finally learn from the past and only add new vessel capacity in line with the long term 2% annual growth in demand ! Ship Orders Surge as Carriers Rush to Add Capacity - Wasll Street Journal “I’ve never seen such demand in 20 years,” Global shipyards that were retrenching and consolidating in a faltering maritime market barely more than a year ago are now flush with new orders, boosted by efforts by shipping lines to add capacity to meet resurgent consumer demand in Western economies. Orders for new container ships in the first five months of this year were nearly double the orders for all of both 2019 and 2020, according to London-based maritime data provider VesselsValue Ltd., with the biggest gains going to shipyards in South Korea and China. The order tally has been so strong that some yards have stopped giving quotes for new vessels and are trying to renegotiate existing orders for more than 20 ships as the price of steel plates used to build vessels has doubled since the end of 2020, according to people involved in those deals. The resurgence in ordering is being driven mainly by container ships as Western retailers such as Walmart Inc. and Amazon.com Inc. scramble to restock after a year of supply-chain disruptions from the coronavirus pandemic. The rush to replenish depleted inventories, along with congestion at major ports in North America, Europe and Asia, has left cargo space hard to find and sent freight rates soaring. That has spurred big profit gains at operators like A.P. Moller-Maersk A/S, CMA CGM SA and Hapag-Lloyd AG , as well as triggered moves to renew and expand their fleets. “They are making bucketloads of money and when that happens, owners invest in new ships,” said Peter Sand, chief shipping analyst at Denmark-based shipping trade body Bimco. “Orders have doubled so far in 2021, nearly reaching the total tonnage ordered for all of last year. I won’t be surprised if there is another wave of ordering.” The strong orders are in contrast with the past couple of years, when a long downturn in maritime trade left a dwindling backlog of orders at shipyards and forced some to consolidate. Data from London-based shipping broker Braemar ACM Shipbroking show that in the first five months of this year, ships totaling capacity for about 2.6 million containers—measured in 20-foot equivalent units, a standard maritime measure—are on order, putting the business on track to surpass an annual record of 2.8 million containers’ worth of capacity ordered in all of 2007. “It’s been our busiest period in years and it’s very much about container ships,” said a senior executive of South Korea’s Hyundai Heavy Industries Co. , the world’s biggest shipbuilding facility in terms of capacity. “The orders are mostly for bigger ships with all the extras to emit less, which is good for margins. We are almost out of slots to build new ships until late 2023.” “I’ve never seen such demand in 20 years,” this executive said. South Korea’s three big yards—Hyundai Heavy, Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. —account for more than a third of all shipbuilding orders for all types of vessels. The other shipyards with big shares of global orders are China State Shipbuilding Corp., China Shipbuilding Industry Corp. and Japan’s Imabari Shipbuilding Co. In the first five months of this year, 208 container ships worth $16.3 billion were added to the global order book, compared with 120 ships valued at $8.8 billion for all of last year and 114 vessels worth $6.9 billion in 2019, according to VesselsValue. The South Korean shipyard executive said the boxship orders are mainly for vessels that can move around 14,500 containers and behemoths with a capacity of more than 20,000 boxes that are mainly deployed on Asia-Europe trade lanes. Related Coverage An executive at one of China’s big state shipbuilders said owners of roughly two dozen ships are being asked to pay more if they want their vessels delivered because of rising steel prices. “If the yards adhere to the original contract, they will be delivering the ships at a loss,” said this executive. “A big cargo ship needs around 25,000 to 30,000 tons of steel and that’s an additional $15 million on average from last year in terms of cost. There are at least 22 ships on order that are being renegotiated at big Asian yards.” Steel can account for up to 30% of a vessel’s cost, depending on the type of ship. Tankers and dry-bulk movers need more steel than container ships. A very large crude carrier now costs around $100 million, up from $85 million last October. As the container shipping industry continues to boom, companies are adopting new technologies to move cargo faster and shifting to crewless ships. But it’s not all been smooth sailing and the future will see fewer players stay above water.
mount teide
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