Jadestone Energy Share Discussion Threads

[mount teide] 11/10/2021 10:51

Moved to 2 v 2 / 89p v 92p - first buys at the full 92p offer price

[mount teide] 11/10/2021 10:44

L2 opened 1 v 3 / 88p v 91p

then moved to 1 v 3 / 89p v 91p

now 2 v 1 / 89p v 91p (rest between 92p and 94p)

[croasdalelfc] 11/10/2021 08:15

PM assets: At $84 Brent (today) plus $3 Tapis premium operating cash flow is $71 at 7000 boepd or a staggering $181m a year A cash cow for years to come

[croasdalelfc] 11/10/2021 07:54

The PM assets have annual Opex of ~$40m or $18/barrel at 6000 boepd. as stated by PB during acquisition webcast. H1 had production of 7492 boepd or $14.67/ barrel Opex. Current operating cash flow is over $67 a barrel even at 6500 boepd.At 7500 boepd it is $70 a barrel.

[mount teide] 09/10/2021 17:15

B2 - exactly. I see high energy prices as here to stay for many, many years, principally for the reason you mention(economic justification for renewables), together with the fact that the global O&G industry has massively underinvested in replacing and developing it's reserves since 2014, largely as a result of low oil prices and the political success of the environment lobby.

The copper industry is in a similar position ......it invested tens of $billions up to 2017 in an attempt to find new reserves and found very little that was commercial by historic standards - they concluded that with copper at $2.50/lb most of the low hanging fruit(large near surface deposits that were cheap to develop and produce) had been found and further exploration was largely a waste of money. The recent doubling of the copper price appears to be changing that view!

[bamboo2] 09/10/2021 16:32

MT, I see a higher oil price as essential in the economic justification for renewables. This helps us all, as a broader mix of energy supply will help reduce swings in end user pricing, and avoid overreliance on any single source of supply.

[mount teide] 09/10/2021 16:15

Black is the new 'Green' - the same as its been for the last 100 years !

Economic and political reality comes back to bite the West's climate change and green lobby zealot's mad stampede into renewables on the a*se big time!

China orders its Coal Mining Industry to work double shifts to double its 100 million tonnes a year of production to secure energy supply for the winter “at all costs” to prevent power outages that would cripple economic growth and put further strain on global supply chains.

Sadly, with 90% of the World's population living on less than $2 a day, today's global energy crisis has been entirely predictable, and is delivering a once in a lifetime investment opportunity for those that had the foresight to see it coming and invested accordingly.

The reason why the Swedish teen-age snowflake never lectures the emerging Nations on climate change and reducing fossil fuels is because her advisors know exactly the response she would get, which I suspect would be far from complementary!

"So, the children of the Nations of the World that have used fossil fuels for over 50 years at a rate between 25 to 50 times greater consumption per capita than us, in order to develop their economies and living standards to a level that 99% of our population can only dream of, want us to start reducing our fossil fuel usage just as our average consumption per capita finally reaches one tenth of the West?" Hmmmmmm.

[mount teide] 09/10/2021 14:59

The $30+ rise in the price of Brent from the effective date of the Malaysian Petronas PM acquisition, means that the PM assets (circa 6,500 boepd) are today throwing off circa $154 million a year in operating cash-flow before very modest capex and other adjustments.

From the effective acquisition date the net $9 million cheque given to JSE on completion for these assets, must make this one of the deals of the year.


AIMHO/DYOR

[bamboo2] 08/10/2021 18:40

MT, Brilliant. All you need is volume!

My Brent chart pausing this afternoon as it contemplates the recent high at $83.44
The pause will not last long.

[mount teide] 08/10/2021 17:04

Up 3.5p (4.07%) today on 1.3 million transaction volume .... the highest daily volume in nearly three months.

[mount teide] 08/10/2021 16:24

Moved to 1 v 5 / 88p v 91p (rest between 92p and 94p)

[mount teide] 08/10/2021 15:58

A further 10,000 at 89p breaks the dam

Moved to 1 v 3 / 88p v 90p (rest between 91p and 94p)

First buys coming in at the full 90p ASK price.

[mount teide] 08/10/2021 15:51

L2 moved to 1 v 1 / 88p v 89p (rest between 90p and 94p)

JEFF now on the BID .......full 89P ASK price being paid.

[fardels bear] 08/10/2021 15:36

At least it's not that Teddy Bear Bunch who sit there for weeks at the same price

[mount teide] 08/10/2021 15:27

WINS and they're paying 87.8p

[fardels bear] 08/10/2021 15:00

Which one is at 87p?

[mount teide] 08/10/2021 14:44

Moved to 1 v 1 / 87p v 89p (rest between 90p and 94p)

[mount teide] 08/10/2021 14:25

Now 1 v 1 / 87p v 88p - through the 1.0 million shares traded mark, which is multiples of the average volume this year for a Friday.

[mount teide] 08/10/2021 11:58

L2: 1 v 2 / 87p v 88p (rest between 90p and 94p)

[mount teide] 08/10/2021 09:05

As many well researched investors here have done ....Its rarely a bad move to front run leading hedge funds!

Hedge funds cash in as green investors dump energy stocks - FT

'Big institutions’ exit from oil and gas companies leaves hedge funds as among the only buyers

Hedge funds have been quietly scooping up the shares of unloved oil and gas companies discarded by environmentally minded institutional investors, and are now reaping big gains as energy prices surge.

Hedge fund managers in the US and UK have been betting that the eagerness of many big institutions to be seen to embrace environmental, social and governance (ESG) standards means they are selling wholesale out of fossil fuel stocks, even though demand for some of these products remains high.

“It’s such a great and easy idea,” Crispin Odey, founder of London-based Odey Asset Management, told the Financial Times.

“They [big institutional investors] are all so keen to get rid of oil assets, they’re leaving fantastic returns on the table,” added Odey, whose European fund is up more than 100 per cent so far this year.

The company has been building its position in oil and gas stocks this year and has sizeable stakes in groups including Norwegian oil company Aker BP, whose shares are up about 43 per cent, and Asia-Pacific-focused producer Jadestone Energy, up 44 per cent.............

.....Alongside Odey’s fund, Goldman Sachs’s prime brokerage division, which provides a range of services such as stock lending and execution, recently told clients that energy stocks had had their biggest net buying by hedge funds since late February, according to a note seen by the FT.

“People don’t understand how much money you can make in things that people hate,” said Bison Interests’ managing partner and co-founder Josh Young, who says his fund avoids the “dirtiest companies”..........'

[mount teide] 07/10/2021 20:11

The Baltic Dry Index (cost of shipping dry bulk commodities) continues to surge, and is now up an incredible 1,387% (from 1,177% last week) from its pandemic May 2020 low'

The astonishing rise in the BDI is the driving force responsible for the exceptionally strong demand for marine fuel oil over the last 18 months and, in particular, the Australian low sulphur heavy sweet crudes like Stag, that meet the IMO 2020 Shipping Fuel Oil Rules without the need to go undergo expensive industrial processing in a hi-tech oil refinery.

[mount teide] 07/10/2021 18:50

As some here have been predicting and investing accordingly since 2018 - A new oil price super cycle — an extended period during which prices exceed their long-term trend — seems to be marching over the horizon, driven by pervasive supply shortages from the lack of investment that has continued since the 2014 oil price collapse and, more recently, reduced investment in shale oil production; together with accelerating demand growth triggered by a strong recovery in China, India and SE Asia, a big stimulus package in United States, and global optimism about vaccines.


Moody’s: Oil Industry Must Spend $542 Billion To Avoid Supply Shock - OilPrice.com

'Global annual upstream spending needs to increase by as much as 54 percent to $542 billion if the oil market is to avert the next supply shortage shock, Moody’s said in a report on Thursday carried by Bloomberg.

Currently, oil exploration and production (E&P) companies around the world are underinvesting in supply as they continue to keep capital expenditure (capex) low after the 2020 price crash and crisis, Moody’s notes.

Annual upstream investment crashed by around 30 percent in 2020 and has only slightly recovered since, according to the credit rating agency.

Most producers continue to stick to conservative capital budgets for 2022, but slight growth can be expected as commodity prices jump, Moody’s analysts say.

Yet, “Our analysis demonstrates that upstream companies will need to increase their spending considerably for the medium term to fully replace reserves and avoid declines in future production,” Moody’s Vice President Sajjad Alam said in a statement.

This year, spending is expected at $352 billion, while medium-term annual investment has to grow to $542 billion to keep with the demand returning from the pandemic slump, according to Moody’s.

“The industry will need to spend significantly more, especially if oil and gas demand keeps climbing beyond pre-pandemic levels through 2025,” Moody’s analysts wrote in the report, as carried by Bloomberg.

Underinvestment in upstream projects is a major wild card for oil markets going forward, analysts and industry officials say.

The oil industry is “massively underinvesting”; in supply to meet growing demand, which is set to return to pre-COVID levels as soon as the end of 2021 or early 2022, Greg Hill, president of U.S. oil producer Hess Corp, said last week.

Last year, global upstream investment sank to a 15-year low of $350 billion, down from around $600 billion before the pandemic, according to estimates by Wood Mackenzie from earlier this year.'

[mount teide] 07/10/2021 18:32

Croas - think I recall Paul mentioning in a 2019 presentation that at $70 Brent Montara and the Birds had the potential to remain commercial for oil production until circa 2032 subject to drilling the infill wells.

[croasdalelfc] 07/10/2021 18:04

To get the gas they need to tie into the Crux development to the South West. It would be towards Montara end of life probably 2026 and beyond.Crux itself hasn't reached FID (probably 2022) and is a backfill for the Prelude FLNG https://www.shell.com.au/about-us/projects-and-locations/the-crux-project/_jcr_content/par/relatedtopics.stream/1625630094518/c53ade99a9ee4e12ebaeae6cd9becf3a12c8287c/2021-shell-crux-licence-applications-fact-sheet.pdf