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JSE Jadestone Energy Plc

23.75
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
  0.00 0.00% 23.75 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 448.41M 8.52M 0.0183 12.98 110.46M
Jadestone Energy Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker JSE. The last closing price for Jadestone Energy was 23.75p. Over the last year, Jadestone Energy shares have traded in a share price range of 21.50p to 71.00p.

Jadestone Energy currently has 465,081,237 shares in issue. The market capitalisation of Jadestone Energy is £110.46 million. Jadestone Energy has a price to earnings ratio (PE ratio) of 12.98.

Jadestone Energy Share Discussion Threads

Showing 6451 to 6475 of 21225 messages
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DateSubjectAuthorDiscuss
20/10/2021
17:08
A good example of the pace in the recovery (and continuing rate of growth) in oil demand across SE Asia is India, where gasoline consumption today is already 15% above pre-Covid levels; and diesel 6-10% above pre-Covid levels.
mount teide
20/10/2021
16:13
KS - thanks for your analysis.

Following previous oil price crashes - the equities without exception lagged the recovery in the oil price. It seems the market always wants to see any massive potential improvement in cash generation before giving its seal of approval.

This is likely to come when the sector/majors shortly report a V-shaped free cash flow recovery for H1/2021 to record levels.


O/T - Advance Energy - if only this game were as easy as taking a position on Friday and making 30% in three days! Hopefully, a few others saw the value and got 'lucky' too!

Edit: For the avoidance of any confusion - IMO Advance Energy has the fundamentals/potential to generate multiples of today's valuation over the minimum 2-3 year investment outlook I have for the business.

It has many similarities to an early stage Jadestone Energy .......high quality management; focus on Asia/Pacific's maturing O&G basins being vacated by the majors; looking to grow by acquiring potentially low operating cost producing assets with re-investment potential, and through yet to be developed discoveries.

AIMHO/DYOR

mount teide
20/10/2021
16:00
KS I couldn't agree more with your sentiments. I suspect PI's who look at Stockopedia or other sources see a backward looking position rather than the value being created today which will become highly visible in the next few months eg in Stockopedia 2021 estimated EPS is 1.6c growing to 16.8c in 2022. Even these figures understate reality. However, other O&G companies may look superficially more attractive. I lose no sleep over JSE and its excellent management unlike some other investments I hold.

It is possible that Sandgrove are selling below the threshold which may explain a lack of upward movement in the share price in recent days as the price of oil rises - a temporary blip.

zeusfurla
20/10/2021
14:32
I reckon we are currently priced at around $45 to $50 Brent at most - assuming a $20 - $25 netback at those prices.

The longer oil stays around this level, and JSE share price does not go up, the bigger and bigger bargain this becomes.

Is the market always this slow?

20k bopd next year at this price would be generating somewhere in the region £200m of profit after tax? Pretty soon cash in bank is going to exceed market cap..

Just checked the FY 21 accounts and depreciation was at c$16 a barrel with Opex at $23.

So $83 Brent + a couple dollar premium, less $16 depreciation and say $20 Opex (if they can get it down a tad with increased production, presumably?) gives you around $50 a barrel is net profit pre-tax.

20k x 365 x $50 = $365m pre-tax

Corp tax is 30%? At today's exchange rate gives not far off £200m post tax profits. AND we have over $100m net cash in the bank AND that doesn't include any production from Maari nor the cash owed on change of ownership.

It is not a hard calculation to see the value is it?

MT has already done the cash flow analysis, which is ginormous.. (thank you)

king suarez
20/10/2021
14:22
Re Brent. The consolidation zone continues to form, just below historical resistance, gathering strength. Price holding above the breakout zone approx $84

The possible turn for today I mentioned earlier in the week looks like it will confirm as a low or valley turn at approx $83.63

bamboo2
20/10/2021
08:24
2020's - the Decade of high energy prices!

Previous energy crises were supply side shocks with geopolitical origins. Today, supply constraints around gas and oil are evident once more but, crucially, and as some here predicted, these constraints are happening at a time when energy markets are trying to continue absorbing the massive and still accelerating 20-year Asian energy demand shock, increasingly now exacerbated by the naive rush over the last decade by the green, woke West's 'transition' into expensive and comparatively poorly performing renewables.

Per capita energy consumption in China was more than 750% higher in 2020 than in 1973, yet today, despite importing more oil than the entire annual production of Saudi Arabia, Norway and the UK combined, and recently usurping Japan as the world's largest LNG importer, Chinese energy consumption per capita is still only one eighth of the USA.

There has been no historical equivalent to the recent situation of the Chinese government demanding that energy companies procure supply of all energy sources at any cost.

The scale of the energy demand problem is given perspective by the fact that the energy demand per capita of the 3.4 billion emerging nation populations of SE Asia and India (excluding China - population 1.4 billion) is accelerating faster than China, while still having an average per capita energy consumption around one fourteenth of the West.

Data Source: mostly from Lloyd's list and BP's Annual World Energy Review

mount teide
19/10/2021
08:38
IMO 2020 spike aside, ship bunker prices hit further new 7 year highs this week, not seen since the days of $100 Brent in 2014.

At today's $85/bbl Brent price, Jadestone's Stag production should be realising circa $92/bbl inclusive of the most recent premium to Brent.

Marine Fuel Oil and Major Oil Benchmark pricing - Change compared to pricing on 9th December 2020 in brackets - (all prices rounded to nearest whole number)

$121 / (+42) - Marine Gas Oil - APAC Average
$101 / (+37) - VLSFO - APAC Average
$92 / (+34) - Jadestone / STAG - $10.15/bbl latest premium to Brent)
$86 / (+34) - Jadestone / Montara - $1.5/bbl latest premium to Brent
$86 / (+34) - Jadestone / Peninsula Malaysia - est $1.5/bbl premium to Brent
$86 / (+34) - Maari - est $1.5/bbl premium to Brent
$85 / (+36) - Brent
$85 / (+41) - High Sulphur Fuel Oil - APAC Average
$83 / (+35) - WTI

At today's Brent price, 2021 guidance OPEX and latest IMO 2020 premiums to Brent, Jadestone should be realising circa $66/bbl operating cash flow for its Stag and Montara production, and circa $68/bbl for its Peninsula Malaysian production.

With estimated current total production of circa 19,500 bopd(13,000 bopd /Montara and Stag - 6,500 boepd / PM), Jadestone should be realising circa $475 million/yr of gross operating cash flow per year, with the potential to increase to $535 million/yr by December on completion of the Skua and Swift work-overs, and up to $620 million/year on completion of the Maari acquisition.

Current market cap: $568m.


Estimated Annual Revenue at $85/Brent:
$620m - Current
$700m - Plus Skua and Swift Work-overs (Early November)
$810m - On Maari Completion (plus a circa $65m-75m net consideration cheque)

AIMHO/DYOR

mount teide
18/10/2021
19:57
B2 - thanks for the info.

Sand Grove are a special situation hedge fund located in the City - since inception in 2015, they've achieved an annualised return of 11.8%.

Significantly less than our two founding hedge fund shareholders who have previously stated their ideal Jadestone Energy exit strategy would be the sale of the company as a mid cap - the 38% annualised return their investment here has achieved since the 2018 London IPO suggests the strategy is progressing very well.

mount teide
18/10/2021
17:49
Hi MT, understood. I guess we will have to wait to see late reported volume to see the true picture.

For info, I did check back. The last TR1 rns for Sand Grove I could find was dated 2/3/2021. It referred to threshold changes on 26/2/2021.

It showed holding prior to 26/2/2021 as,
shares 1.99% cfd 3.24%
Resulting holding notified 2/3/2021
shares 0.70% cfd 2.59%

My figures based on total shares of 463,789,477. Sand Groves percentages were based on 461,967,811, as dilution has occurred in the intervening months, this means final reported figs may vary slightly.

0.70% of shares = 3,246,526.339
2.59% of shares =12,012,147.4543 [cfd]

It all hinges around how the volume of reporting, if any, of CFD is handled.
Hope I have read the rns correctly!

bamboo2
18/10/2021
15:58
'Announces that it has received notification from Sand Grove Capital Management LLP that it has no notifiable interest in the Company.'

b2 - Understood that a formal notification is required as soon as a previously notifiable holding falls below the 3% threshold. Which would mean that Sand Grove would have to inform the market were they to dispose of more than 1.25 million shares.

Sand Grove's holding prior to this announcement was 15.2 million - how many if any were held in a CFD I don't know.

mount teide
18/10/2021
15:15
Mt, you follow this more closely than I do, but I think Sand maybe completely out.
Can't remember the make up of the holding, but some was a CFD[?], therefore would not necessarily appear clearly in the daily volume.

bamboo2
18/10/2021
15:07
There's definitely been a bit more liquidity in the last few days so that explains it!
squareloss
18/10/2021
15:00
I bought a few of theirs, tyvm :)
king suarez
18/10/2021
14:57
RNS - Sandgrove Capital drop from 3.27% to below 3%
mount teide
18/10/2021
13:28
L2 moved to 2 v 1 / 89.0p v 90.6p (the 1 x 91p, 3 x 93p, 4 x 94p and 1 x 95p)
mount teide
18/10/2021
12:43
Not 100% but the companies want to see it through otherwise one would have walked away- .
croasdalelfc
18/10/2021
12:21
I've added at 90, GLA
donald pond
18/10/2021
12:20
L2 moved to 2 v 1 / 89p v 90p (rest between 91p and 95p)
mount teide
18/10/2021
12:20
Is it a given Maari will be approved? Sometimes these sales are rubber-stamping by govt, sometimes not in the case of the kiwis
winnet
18/10/2021
12:15
The CAGR of the share price is outstripping the 10% growth of the dividend. I would like divi growth to be nearer 20% as it started at a low base but on the other hand - a large cash pile for acquisitions is important as the next acquisition is likely to be a substantial Cash has also been squeezed by the large capex in H2 2021 ($90m) and production weighted to Q4 (probably 1.5m barrels) with cash from that production likely late Dec or Jan JSE is also 'owed' a cash pile from Maari acquisition which is probably $50m now and $60m by year end.I
croasdalelfc
18/10/2021
11:34
L2 strengthening from 2 v 2 to 4 v 2 / 88p v 90p (rest between 91p and 95p)
mount teide
18/10/2021
10:59
the above makes the 1.3% divi look mean.
winnet
18/10/2021
10:41
$86 Brent With around 3 weeks until Skua 11 and 10 come online and 20kbopd milestone is reached - 85% will be getting $89/barrel12% -$94-95/barrel3% - gasOperating cash flow ~$70/ barrel or $42m a month - $500m a year -
croasdalelfc
18/10/2021
09:06
Nor can I but obviously somebody can
fardels bear
18/10/2021
08:55
I took another 50,000 this morning, been adding on the way up as I just can’t see how these aren’t much higher given their excellent net backs and potential to do something transformational on the acquisition front.
squareloss
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