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JSE Jadestone Energy Plc

26.50
1.25 (4.95%)
Last Updated: 14:31:17
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
  1.25 4.95% 26.50 26.00 27.00 27.25 24.90 25.00 2,264,247 14:31:17
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 323.28M -91.27M -0.1688 -1.58 136.56M
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 25.25p. Over the last year, Jadestone Energy shares have traded in a share price range of 23.00p to 39.00p.

Jadestone Energy currently has 540,817,144 shares in issue. The market capitalisation of Jadestone Energy is £136.56 million. Jadestone Energy has a price to earnings ratio (PE ratio) of -1.58.

Jadestone Energy Share Discussion Threads

Showing 701 to 720 of 22975 messages
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DateSubjectAuthorDiscuss
20/3/2019
11:24
Stag Field: The two anchor handling/towage vessels left the Ensco 107 yesterday - suggesting a well spud announcement should be imminent. With an expected 34 day drill time, the results should be out before the end of April.
mount teide
19/3/2019
17:35
Depends whether the share price rise slows down.
fardels bear
19/3/2019
15:53
SMTB - on Blakeley's 2019 projections - a 4.5% yield(2.2p) would cost $13.6m, leaving $86.4m to fund acquisitions - so it would be comfortably doable.
mount teide
19/3/2019
15:41
I would prefer a divi to shareholders than merely ploughing it back into acquisitions alone.


Cash

cashandcard
19/3/2019
15:39
I was expecting an RNS on the infill well. Any ideas ?
meteors
19/3/2019
15:29
MT to get more IIs on board I would hope for 4-5% divi to give the market confidence of future earning, this would also give the share price a welcome boost, if your estimates are correct this would be affordable and leave fire power for other acquisitions. Fingers crossed
simplemilltownboy
19/3/2019
15:02
Just 9% of the projected $100 million of free cash left over would pay a circa 1.5p dividend / 3% yield.
mount teide
19/3/2019
13:39
Wot? No div?
fardels bear
19/3/2019
13:15
Jadestone's 2019 guidance at an average oil price of $65/bbl indicates they will generate sufficient cash to pay the:

* Capital and other major offshore spending of US$116-131 million

* and still have $100 million of free cash left over

According to my calculator this means assuming a mid range 14,500 bopd average for 2019, with 5,500 bopd of production hedged at $72/bbl; to generate the amount of cash Jadestone is guiding for 2019 at an average oil price of $65/bbl, MEANS THE OTHER 9,000 bopd OF MONTARA AND STAG PRODUCTION WOULD ONLY NEED A AVERAGE BRENT PRICE FOR 2019 OF $57/bbl BEFORE THE REGIONAL PREMIUM OF $2-$2.5/BBL.

AIMHO/DYOR

mount teide
19/3/2019
12:57
...Could mean a nice dividend announcement in September.
someuwin
19/3/2019
12:48
Brent up to $68.18 - a four month high.

Jadestone after adjustment for the circa $2.5/bbl regional premium to Brent will currently be generating circa $76.00/bbl($73.49 + $2.50) for its 5,500 bbs of hedged Montara production and circa $70.68/bbl for the other circa 7,600 bbls and Stag's production.

By my calculator at the current circa 15,369 bopd production, this is generating:

Gross Revenue of: $34.5 million per month

Cash Flow (at a combined upper end of the range $24/bbl op expenses) of: $23.2 million / month

So it takes just circa 3.5 times the current monthly cash flow to generate the $82 million net purchase price of the Montara Field( and its FPSO which cost $108 million and has another circa 14 years of operational life before its next dry docking, and greater storage capacity than Premier's BW Catcher FPSO without the $210 million a year, ten year contract charter fee).

With each passing day Montara looks less like the O&G sector deal of the decade and more like Paul Blakeley's deal of the last 25 years.

mount teide
19/3/2019
11:09
“Perfect Storm” Drives Oil Prices Higher - Oilprice .com

'Oil prices have already hit four-month highs, forcing a range of analysts to overhaul their expectations for this year.

“The latest Brent rally has brought prices to our peak forecast of $67.5/bbl, three months early,” Goldman Sachs wrote in a note. The investment bank said that “resilient demand growth” and supply outages could push prices up to $70 per barrel in the near future. It’s a perfect storm: “supply loses are exceeding our expectations, demand growth is beating low consensus expectations with technicals supportive and net long positioning still depressed,” the bank said.

The outages in Venezuela could swamp the rebound in supply from Libya, Goldman noted. But the real surprise has been demand. At the end of 2018 and the start of this year, oil prices hit a bottom and concerns about global economic stability dominated the narrative. But, for now at least, demand has been solid. In January, demand grew by 1.55 million barrels per day (mb/d) year-on-year. “Gasoline in particular is surprising to the upside, helped by low prices, confirming our view that the weakness in cracks at the turn of the year was supply driven,” Goldman noted. “This comforts us in our above consensus 1.45 mb/d [year-on-year] demand growth forecast.”

Demand in China is growing at a stronger rate than expected, while other emerging markets are set to shake off a rough 2018 that saw a strong dollar, rising interest rates and high oil prices.

Meanwhile, other analysts are also similarly bullish. “As risky assets focused on macro concerns, oil markets have largely overlooked supply-side tightness in 1Q19 that has helped global oil markets to rebalance since the end of 2018,” JPMorgan Chase said in a report. “With a potential for a US-China trade talk resolution emerging, oil prices should finally break out of the narrow trading range and should be supported in the very near-term due to policy-driven supply-side tightness.”

A supply deficit could become rather significant, the bank said, with total oil products demand growth at 1.03 mb/d against supply growth of only 0.3mbd. The second quarter is particularly tight. “As OPEC+ cuts begin to bite and non-OPEC supply tightens in 1H19, due to Canadian curtailments, a temporary US production growth slowdown, and maintenance in some of the key global oil fields (Kashagan particularly), we expect 2Q19 to have a theoretical tightness of over 1.2mbd in global balances.” A supply deficit of 1.2 mb/d is rather notable given the roughly 1.5 mb/d surplus in the fourth quarter of last year, the bank said.

Both Goldman Sachs and JPMorgan see the supply deficit fading in the second half of the year unless OPEC+ continues to over-comply with the production cuts. U.S. shale could rebound from the current lull, while the fate of OPEC+ compliance is up in the air. “Hence, we think OPEC+ cuts will need to be extended not just to the end of 2019 but also into 2020 if they want to avoid another oil price crash,” JPMorgan wrote.

Of course, there is no shortage of uncertainty to these – or any other – price scenarios. In particular, the Trump administration will have a lot of influence over what unfolds this year in the oil market. Trump has helped exacerbate the crisis in Venezuela, where the output declines had somewhat stabilized late last year. Venezuela’s production fell by 142,000 bpd in February, while the losses this month have the potential to be even worse.

The U.S. is also weighing the expiration of sanctions waivers on Iran, and the tight oil market could force Trump to extend some of them. The Department of Energy could also release oil from the strategic petroleum reserve, while the U.S. Congress is working on NOPEC legislation, which could threaten OPEC coordination. Moreover, it is unclear how OPEC+ might respond to any of those actions. For instance, Saudi Arabia could ramp up supply to crash prices in response to NOPEC being signed into law. Or, they could continue to over-comply with production cuts after making the mistake of abandoning them too early last year. The permutations are endless, so take each price forecast with a grain of salt.'

mount teide
18/3/2019
12:50
Links to the Jadestone CEO's London South East Investor Evening Presentation/Q&A and recent Proactive interview are now in the header for easy reference.
mount teide
18/3/2019
12:28
L2: 49.8p v 50.0p

FWIW - using a few dummy trades - currently getting the full 50.0p offer price to SELL!

mount teide
18/3/2019
08:21
Just got around to watching the City Index presentation by PB from March 12th. I have watched hundreds of these things over the years and I liked what I saw. The phrase quietly confident comes to mind with Paul and his team. Right team right time right location. Stag profits pay for everything else plus money left over. Very positive presentation and great opportunity for us here in this off the radar company. Thanks to all the posters over the last week or so and a big thanks to MT who ploughed a loan files here for a long time and highlighted the opportunity.
fozzie
17/3/2019
22:13
Montara has 2c resources according to the Admission Document including: close to a half a trillion cubic feet of Nat Gas.

Some further Admission Document information:

Montara Field:
The limited number of qualified offshore operators in Australia looking to deploy second phase specialisation, and Jadestone’s recently proven ability to obtain regulatory approvals, in particular approval as operator culminating in the transfer of operatorship of Stag in July 2017, proved a significant competitive advantage when engaging with the seller. (This together with the Jadestone teams long regional experience and industry contacts should place them as serious contenders for future opportunities - the NOC's and IOC's are likely to consider only companies with the highest operational/safety standards when selling down their regional assets).

The acquisition price represents a 32% discount to the NPV10 of the 1P reserves as estimated by ERCE; a 59 per cent discount to the NPV10 of the 2P reserves and a 75 per cent discount to the NPV10 of the 3P reserves. Free Cash Flow pay back of the acquisition price (before adjustment and contingent consideration) is estimated to be two years based on the assumptions used by ERCE. (If they deliver on 2019 guidance - it will blow the 2yr timetable out the water by cutting the payback time in half!)

12% increase in uptime and circa 25 per cent decrease in operating costs at Montara Assets targeted within 12 months of assuming operatorship. Jadestone management estimate that this will increase annual production by circa 1.7 mbbls/d in 2019.

The successful completion of an additional producing well, Montara H5-ST2, in October 2017 increased production at the Montara Assets by 3.5 mbbl/d.

The Company plans to drill two in-fill wells targeting identified 2P reserves of 3.5 MMbbl. These wells are included in ERCE’s reserves case for the Montara Assets. A further three in-fill targets, not included in ERCE’s reserves case, have been identified by Jadestone management targeting 5.3 MMbbl. The intention is to drill these in-fill targets as part of a 2020 or 2021 work programme. The Company has also identified numerous operational improvements on the production facilities to increase efficiency.

Reflecting on the savings obtained at Stag to date, the Company is confident of its ability to deliver significant additional value creation at the Montara Assets following a successful transition period and subject to the required investment by the Company.

Stag Field - Jadestone received notification, on 30 April 2018, of the renewal of the Stag production licence for a further 21 years. (This provides the Company with the opportunity to further develop and invest in the field, to grow future oil production and deliver additional operational efficiency initiatives.)

mount teide
17/3/2019
13:03
cro - 'Also annoyed I didn’t fjnd JSE in the 30s as I see it as a £1B Mcap company in a few years.'

If the management create a £1bn company over the next 4 years - whether buying at 35p, 45p, 55p of 65p is likely to make little difference to the overall return.

Its like getting in on the 3rd or 4th floor of a 42 storey office block under construction

Blakeley and his team developed Talisman's SE Asia business unit into a $6bn company in less than 10 years - this was the primary reason he was approached by our two high performing US activist hedge fund shareholders to run Jadestone. That he has since brought over most of his Talisman team together with a number of other highly regarded individuals from within the sector, provides the best possible foundation with which to replicate Talisman's performance with Jadestone.

Add to that, for downside investment protection, the market circumstances are better than when they ran Talisman, since the SE Asia / Pacific Rim / North Australia oil and gas basins are seeing the US majors and NOC's retrenching with increased momentum as a result of 68% of regional production now coming from mid-life and mature fields.

Blakeley reckons there is a huge opportunity for smaller second phase operators, that currently are thin on the ground in the region, to grow quickly through a combination of organic growth and the selective purchase of and re-investment in mid/late stage high quality regional assets.

With the managements track record in the region and before that in the North Sea - it would take a brave man to bet against them delivering a similar performance with Jadestone, given the strong demand and premium prices paid for energy in the region, early years of the recovery stage of the market cycle, and number and quality of mid life and mature assets currently in the hands of retrenching International and National oil companies.


AIMHO/DYOR

mount teide
17/3/2019
10:48
They are 815p now and may be a lot hight upon readmission following Marathon deal.
fardels bear
16/3/2019
21:54
I was first in RRE at £1.25 £18m Mcap and kicked myself for not just holding and adding. I hold a few at £6 now . Also annoyed I didn't fjnd JSE in the 30s as I see it as a £1B Mcap company in a few years.Another with a similar Modus Operandi is DGOC which I hold for the 10% dividend and growth . Junior ISA material for my kids . 71000 boepd . All reserves proved, producing, 450m barrels or so - EV about £1B comprising Mcap £650m and debt of £350.
croasdalelfc
16/3/2019
14:52
2018 Container Port Traffic(TEU) at the top 25 Nations: Ranked regionally:

218 million - China
170 million - SE Asia & Pacific Rim
84 million - Europe
53 million - USA and Canada
52 million - Rest of the world

Against this backdrop, it does not take a Phd in Applied Mathematics to work out why the 4.8 billion population of the fast growing Chinese, SE Asian and Pacific rim markets has been responsible for the entire 34 million bopd increase in global oil consumption since 1980 and, where the overwhelming majority of the future growth in energy and commodity demand is forecast to come from over the next decade. China alone already consumes more than 50% of the entire global production of copper and the region is expected to consume over 75% of global nat gas production by 2030.

Data Source - Lloyd's List

mount teide
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