Jadestone Energy Share Discussion Threads

[fireplace22] 07/10/2022 08:28

Germany has little capacity to import LPG in fact most of it is coming in via the UK. (Angela Knight)

[mount teide] 07/10/2022 08:23

Back in April, the EU launched a new Platform to control gas prices through the common purchase of gas, LNG and hydrogen.

The Platform was intended to help ensure security of supply, in particular for the refilling of gas storage facilities in time for next winter.

Results to date: Europe’s gas storage is running about nine weeks ahead of last year, an impressive feat even after flows from Russia have been severely curtailed. European gas storage levels are close to 90%, and have even surpassed the 5-year average.

As for actually controlling gas prices, the EU has had no success whatsoever, as the cost of replenishing natural gas stocks in Europe is estimated at over 50 billion euros ($51 billion), 10 times more than the historical average for filling up tanks ahead of winter.

Much of this supply of gas has come from China in the form of LNG imported from Russia at less than $10/mmBtu and then resold to the EU/Germans for $50-75/mmBtu - proving that even in times of self inflicted hardship you can still rely on the self serving authoritarian illiberal left to publicly demonstrate that capitalism is still alive and well and DOES work!

[royalalbert] 06/10/2022 11:26

Nice figures moon.

[moonshot3] 06/10/2022 11:03

The share buy back programme was announced on 2 August. Updated position at 6 Oct:

# Shares before buy back on 2 Aug = 466,053,616
# Shares bought back = 9,511,986
# Shares issued = 273,730
# Shares in issue = 456,815,360

The cost of the buy back to date is circa $8.6m, so with a cap of $25m, that leaves dry powder of circa $16.4m. At a share price of say 70p and X Rate of 1.13, JSE could buy back another 20m shares [20m x £0.70 x 1.13 = $15.8m]

So, after buy back, potentially JSE could have 436,815,360 shares in issue.

Roughly that would equate to buying back 6% + of the shares:

Bought back to date = 9,511,986
Potential additional buy back = 20,000,000
Total potential buy back = 29,511,986
Shares at 2 Aug = 466,053,616
Shares after potential full buy back = 436,815,360 (456,815,360 - 20,000,000)
Projected % bought back = 6% [29,511,986 / 466,053,616 x 100]

[mount teide] 05/10/2022 20:52

'Qatar Energy Minister Saad Al-Kaabi absolutely destroying European clean energy policies, blaming them for a big proportion of the high energy prices the world is paying today. "They don't have a plan".' Javier Blas Bloomberg

[mount teide] 05/10/2022 20:13

Goldman Sachs: 'We raise our Q4 oil price forecast by $10 to $110/bbl, the OPEC+ supply cut is very bullish for oil.'

[mount teide] 05/10/2022 08:18

The oil price manipulators don't like a taste of their own medicine!

That's because the authoritarian illiberal left in the US and Europe only like markets they can control!

The price control and windfall tax(theft) policy action of the EU this year would put a smile on the face of the New York Mafia never mind the leaders of Communist China!


The White House Is In A Panic To Stop The OPEC+ Production Cut - Oilprice.com

The White House is up in arms to try and prevent a potentially major production cut in OPEC+ just a month before midterm elections when the current administration least needs higher prices at the pump.

According to a CNN report, all available human resources in the administration have been mobilized, with the White House “having a spasm and panicking,” per one unnamed official.

According to the latest reports on OPEC+, the extended cartel is considering a production cut as deep as 2 million barrels daily. This would be the biggest cut in production since the first pandemic year when lockdowns destroyed demand.

“It is hard to overstate how anxious the Biden administration is about a potential resurgence in oil prices,” Bob McNally, of Rapidan Energy, told Bloomberg ahead of the OPEC+ meeting, which is taking place later today in Vienna.

“A large OPEC+ cut would antagonize the White House though officials may wait to see how prices respond afterward before pulling the trigger on policy responses.”

Indeed, CNN reports that some of the talking points drafted in a state of urgency by the White House had suggested the OPEC+ production cut is viewed as “a hostile act”.

Figures such as Amos Hochstein, Janet Yellen, and BrettMcGurk have been tasked with making the case for no cuts with Gulf nations, with the CNN reporting noting that the Treasury Secretary’s talking points would focus on potential reputational damage in the West for the Gulf OPEC members that support the cut.

“There is great political risk to your reputation and relations with the United States and the west if you move forward,” CNN cited a talking points draft as saying.

The main argument that is being put forward in the lobbying effort, however, is the one about the adverse effect tighter oil supply would have on the global economy right now.'

[mount teide] 04/10/2022 17:41

OPEC+ Considers Cut to Output Limit of as Much as 2 Million B/D - Bloomberg today

"OPEC+ is considering a reduction in its production limit of as much as 2 million barrels a day, although the impact on global supply could be smaller.

The group may discuss a cut of that size, plus smaller reductions ranging from 1 million to 1.5 million barrels a day, when it meets on Wednesday, delegates said. Based on current discussions, so far curbs would use existing baselines to measure each country’s contribution, one delegate said.

Several members are already pumping far below their official quotas, meaning they could automatically be in compliance with their new limit without having to curb production. It could still result in the cartel’s largest reduction since the deep cuts agreed at the outset of the Covid-19 pandemic in 2020, but the actual impact on global oil supply could be significantly smaller than the headline number suggests.

Ministers were tight-lipped about their intentions as the arrived in Vienna on Tuesday. Saudi Energy Minister Prince Abdulaziz bin Salman declined to comment. His counterpart from the United Arab Emirates, Suhail Al Mazrouei, said the group will make a decision after reviewing market data provided by its technical committee.

A reduction of that size, if it were to be agreed tomorrow at the meeting of the Organization of Petroleum Exporting Countries and its allies in the Austrian capital, would reflect the scale of the producer group’s concern that the global economy is slowing in the face of rapidly tightening monetary policy.'

Nah....it reflects that OPEC+ have had enough of the Biden Administration's manipulation of the paper oil market!

[mount teide] 04/10/2022 17:32

Moram Note: 23 September 2022

Montara - 'Our thoughts are that solving this issue is going to take 2-4 months (based on our interpretation of the information published)'

After carefully examining the photographs of Montara's hull, cargo tanks and superstructure published with the results, we believe on the balance of probabilities, Montara is more likely to have its Class reinstated within 1-2 months, for four reasons:

* Generally, the internal condition of the cargo tanks looks to be very good, with little evidence of corrosion.

* The permanent tank repairs should not take longer than a week and can be carried out in parallel with the cargo tank and water ballast tank inspection work.

* The hull's bottom plate external protective coating looks to be largely intact. The relatively small build up of underwater fauna and sea life on the keel is of no consequence......the fish in the photo clearly see it as a useful protective sanctuary.

* The tank damage/hole was apparently the result of failure of a defective weld found on a section of steel replaced during the shipyard conversion.


Downside Risk associated with this view:

* The smaller water ballast wing/side tanks are yet to be opened and inspected.

* The Hull and Tank Inspection, Testing and Maintenance manual and programme of work to be completed in lieu of dry docking, is found to be in need of a comprehensive review to improve the monitoring, identification and mitigation of structural corrosion.

AIOHO/DYOR

[fardels bear] 04/10/2022 16:32

Good God. It went up!

[mount teide] 04/10/2022 16:29

L2 - Stifel on the BID at 70p.......next MM is on 68p !

[mount teide] 04/10/2022 13:05

Short position reduced to 0.17% from 0.19% in the latest Euroclear report published today.

[mount teide] 04/10/2022 12:47

We have a new sticky shareholder - my son tells me he has just bought 2 x 100k @ 69.5p

[stemis] 04/10/2022 12:24

Figures like that are meaningless without comparatives such as how much has been spent on non renewable energy sources and how much growth has there been in energy consumption.

[winnet] 04/10/2022 10:46

Yes, because Goldman Sachs obviously doesn't say anything that doesn't support its agenda.

Obviously the fault of the socialists. Hang them all.

[mount teide] 03/10/2022 19:18

Horror stories like this is what happens when you allow authoritarian illiberal left shysters to dictate policy!

Taxpayers should demand their money back!

"At the end of last year, overall fossil fuels represented 81% of energy consumption. 10 years ago, they were at 82%. $3.8 trillion of investment in renewables moved fossil fuels from 82% to 81% of the overall energy consumption"

"Given what has happened over the last 6 months, its probably back up above 82% now, so we've made zero progress in 10 years after spending $3.8 trillion"

Jeff Currie - Head of Commodities / Goldman Sachs
.

[thedudie] 03/10/2022 09:19

Few comments on JSE for Moram who have recently doubled their stake.

[jacks13] 02/10/2022 10:48

Adam Rozencwajg, (Managing Partner at Goehring & Rozencwajg),talks to Top Traders Unplugged on the global energy crisis and how the world (the West) arrived at this situation.

[mount teide] 02/10/2022 09:59

Opec+ ups the anti on the oil paper price manipulation of the US - Bloomberg reports this morning that OPEC+ is now considering a production output cut of more than 1.0 million bopd to get ahead of the market.

[the_gold_mine] 02/10/2022 09:33

David Neuhauser of Livermore Partners gives a pump to Jadestone about half way through this short interview (<3 minutes),

[mount teide] 02/10/2022 09:31

IEA Warns of LNG Tightening in 2023. The head of the International Energy Agency (IEA) Fatih Birol warned that LNG markets in 2023 might be even tighter than this year amidst higher demand from China, India, and other parts of Asia, as stronger Asian growth ramps up the need for more gas. (India is currently growing at 13.5% and urban and industrial China is now opening up after spending most of the year in lockdown).

OPEC+ Seems to Be Serious About Cuts. According to OPEC+ sources, members of the oil group have started talks about potential oil production cuts in November 2022 as Russia has already suggested a 1 million b/d target reduction for the October 5th meeting. With production cuts being discussed as a means of maintaining palatable prices, an upward run towards $100 per barrel might be on the cards for ICE Brent. (Soundings from OPEC participants suggest there is a growing consensus for at least a 500,000 bopd cut).

Warren Buffett Really Likes Occidental. Warren Buffett’s Berkshire Hathaway bought another 5.99 million shares of Occidental worth 352 million this week, boosting its stake to 20.9% after the US energy regulator gave Berkshire the permission to buy up to 50% of the firm’s common stock.

US Slaps Further Sanctions on Iran Oil Trade. The Biden Administration targeted 6 companies in India, Hong Kong, China, and the UAE for allegedly enabling the sale of Iranian crude and products into South and East Asia, as most Iranian exports still sail towards Chinese buyers.

Europe’s Industry Shut-Ins Now Move to Industrial Metals. Commodity giant Glencore is considering shutting its lead operations at its Portovesme plant in Italy after high electricity prices made production commercially unsustainable, potentially putting at risk development of an EV battery recycling plant there.

Source: Oilprice.com

Germany's manufacturing industry 'miracle' was a mirage built on ultra low priced nat gas imports from Russia, who with impeccable timing, sprung their energy supply trap in February with its invasion of Ukraine, after being buoyed by their success of a decade ago, when, after annexing Crimea, they found all the egocentric Germans wanted to do as soon as the smoke had cleared and dust settled over Crimea, was to negotiate a further large increase in their imports of cheap Russian Nat Gas!

Putin, the ever scheming shyster's shyster could not believe his luck, playing the reckless, self serving Germans and their EU glove puppet like a finely tuned grand piano until their reliance was total and the trap set, allowing him to make his move.

Played out on the public stage the script was so predictable, that even a largely disinterested Trump could see it and lectured them accordingly, to nothing but contempt and ridicule. Never has the phrase "none are so blind as those who will not see" been more apt!

With energy security now firmly back at the top of the global economic agenda, the days of cheap energy, not just for the Germans and EU but, everyone, are now well and truly in the rear view mirror and likely to stay there for decades.

The sabotage/destruction of the underwater sections of the Nordstream Nat Gas pipelines where the Baltic Sea is the deepest with the most difficult seabed terrain, was a final slap in the face to the Germans. It was basically an unwritten message telling them to stop wasting their time postering behind the scenes in the hope of a negotiated settlement in Ukraine, as only a total Russian withdrawal would be acceptable to Ukraine and most of the West and, there is simply no possibility of that and so, no way back for Germany to continue receiving cheap Russian energy.

[sea7] 30/9/2022 08:43

The facility is designed for continuous service with a design life of 20 years. The FPSO vessel, turret and mooring systems have been designed to allow all essential maintenance and mandatory inspections to be performed in the field whilst in continuous operation without dry-docking, with in-water survey in lieu of dry docking.

[mount teide] 29/9/2022 21:14

'After Norwegian company warned of sighting of drones near its offshore oil and gas fields in the North Sea last week, now Total of France is warning about the same.

The later reported a drone near its Halfdan B platform, >200 km offshore. No chance that's a civilian drone!' ....Javier Blas