Jadestone Energy Share Discussion Threads

[tim000] 25/3/2019 10:45

Yes, VST, now that was a sad story. A lot of people might have become extremely wealthy if that one had come in...

[tim000] 25/3/2019 10:36

Bobobob5 was a major investor in GKP and did very well, selling out near the peak and before the enormous crash.

[fardels bear] 25/3/2019 10:26

@ kurdistan..

[zengas] 25/3/2019 10:24

Jadestone only became investable to me after new management, investment and a turnaround, In prior days it was the old Mitra Energy with legacy assets (then new Mitra - then Jadestone/under new management and new assets and substantial backing from Tyrus/Livermore etc).

Sey is now in the same potential category with a m/cap of just £24m.
It's got more cash than its current valuation such is the boredom and being overlooked plus it also has a 34% interest in a fully carried major licence until 1st drill - sometime in 2020.

$46.3m cash with the cash burn of $3m expected to fall 15% ie down to circa $2.5m for 2019 - so cash for investing purposes at $43.8m and equal to 14.8p versus 11p current.

There's nothing in it for it's sole 34% asset interest. If it can acquire the right assets with such a cash pile (£34m) it could easily be a £100m+ company so that's why it is one to definitely watch as it has shed it's baggage that has held it back this past number of years.

[tim000] 25/3/2019 10:07

PS: If I remember correctly, SEY had a free carry on an exploratory well in Kurdistan, which failed. Everyone and his wife invested in Kurdistan in those days, but making profitable investments was rather harder than finding oil: GKP, GENL, etc.

[tim000] 25/3/2019 10:03

Bobobob5 was an early investor in Emerald Energy (EEN), which did very well when taken over. Its Chairman was Alastair Beardsall, who went on to be CEO of SEY I believe. I guess bobobob5 followed him there, but with less success.

[fardels bear] 25/3/2019 09:55

SEY, not AEY. That's a whole different horror story .

[fardels bear] 25/3/2019 09:54

AEY, eh?Wasn't old bobobob5 into that in a big way? Him and the family?

[tim000] 25/3/2019 09:37

Likewise I bought a further 5k for the sipp.

[zengas] 25/3/2019 09:37

At least that explains the delay given the time since the rig arrived. Was beginning to think they may have spudded without issuing an RNS.

Off topic and going to flag Sterling Energy (SEY) up to any investors who may like myself see it as a very undervalued opportunity ie for its significant cash pile which could create a material upside change to its valuation.

Results out this am and appear closer to a near term deal according to the Chairmans comments this am. Share price has suffered out of boredom, lack of activity and a thin market and now below actual cash asset value.

220m shares in issue and at 11p current share price = m/cap of £24.2m versus $44m minimum cash ($46m end Dec 2018) or £32.5m (using ex rate £1/$1.35) = 14.8p share cash value with existing asset not included in this.

"Sterling retains a strong position on the AIM listed oil and gas sector with a strong cash platform of $46.3 million and no debt or other liabilities.
Activity has doubled on opportunity and asset screening and we are gaining deal traction due to the renewed focus and simplicity of the Group as mentioned above. Many smaller companies with viable developments but low cash reserves are looking for merger opportunities, giving them access to cash that is currently not available from capital markets.

The Group's remaining African exploration focused Odewayne block provides fully carried exposure to a frontier basin that has the potential to deliver material hydrocarbon reserves.

Our team is working hard screening a number of opportunities. Expectation is that from these efforts will materialise a value creating deal in the near term.
The outlook for 2019 is exciting."
===============================================
220m shares in issue
Waterford Finance 29.45%
Zion SPC 16.64%
MistyVale 15.66%
Denis O'Brien (Irish Telecoms Billionaire) 7.16%
Banque Heritage 6.78%.
Other retail and institutional 24.31% (which would account for circa 53m shares).

Waterford Finance' Michael Kroupeev is the Chairman - they invested in EEN and created 25+ bag returns.

David Marshal (ex Enquest) CEO
Leo Koot a recent n/e Director

Most recent 2019 presentation.

[homebrewruss] 25/3/2019 09:27

Great, bought 15000 odd for the sipp. Would love a further drop :)

[fardels bear] 25/3/2019 09:21

So storm jib and keep your head down in a small boat. On a rig, careful on the steps..

[mount teide] 25/3/2019 09:18

The rig shutdown must have been purely precautionary as the centre of cyclone Veronica never got closer than 500km(300 miles) to the Stag Field - winds peaked yesterday at 95 knots and have since declined to 45 knots (Gale force 8).

[mount teide] 25/3/2019 09:02

FB - There currently does not seem to be much stock around for those wanting to buy!

[someuwin] 25/3/2019 09:02

Had a feeling cyclone Veronica might cause a slight delay. Not a big issue really.

[fardels bear] 25/3/2019 08:51

Good buying opportunity for those with cash.

[spangle93] 25/3/2019 08:48

Blimey, it's a bit of a spooked market at the moment.

A brief weather delay



... and down goes the share price

[mount teide] 23/3/2019 10:39

Croas - 'The predicted uptime of circa 84% influences the whole year average somewhat'


This is a key point - by raising the uptime from 72% to 84% the management expected to achieve an increase in production during 2019 from Montara of circa 1,900 bopd from the circa 7,500 bopd 2018 average figure. ie 9,400 bopd before decline.

However, the first few months of 2019 production from Montara suggests the anticipated circa 10,000 bopd estimated post shut-down stabilised figure could be materially higher - this is also inferred by the 2019 production guidance of 13,500 - 15,500 bopd.

If Stag is currently producing circa 2,750 bopd and the infill well adds let's say 550 bopd in 2019 (H2 production of the expected 1,100 bopd) then Stag could contribute circa 3,050 bopd (3,200 less 150 bopd after say 6% decline) during 2019.

This would suggest the estimated production guidance range for Montara including declines at 84% field uptime is circa 10,450 to 12,450 bopd.

Paul Blakeley is a highly experienced and successful O&G sector professional and outstanding at presenting to an Institutional Investor audience and so has probably pitched the production guidance skewed to achieve a high end of range result or better - the two high performing activist hedge funds who headhunted him and now own a third of the company, not only backed him with their own investment funds but also provided the highly material level of initial loan capital for Jadestone to make acquisitions with cash flow and re-investment potential, such is their confidence in him.

[buffythebuffoon] 23/3/2019 09:53

Hi meteors,

‘...is it not concerning that there have been a huge amount of sells last few days ?’

Yes, if you have the attention span of a gnat, and a similar investment horizon.

Buffy

[croasdalelfc] 23/3/2019 07:13

The predicted uptime of circa 84% influences the whole year average somewhat

[meteors] 23/3/2019 07:04

''Nam Du and U Minh are in block 46/07 and block 51 and again Blakeley knows the area well as they are close to a Talisman-developed project already supplying gas to Vietnam.''

I was not aware of that! A brucey bonus and no coincidence im sure ;)

''A gas sales agreement is required to get this project up and running, but Vietnam is short of power, a Talisman-built pipeline is handily near, while a gas -fired power station onshore is running below capacity.''


Im sure most have read this, however it makes for an entertaining read

www.proactiveinvestors.co.uk/companies/news/216411/jadestone-energy-primed-to-expand-as-asia-pacific-oil-province-matures-216411.html