Jadestone Energy Share Discussion Threads

[moonshot3] 14/10/2022 10:18

Buy back to date # shares repurchased : 10,007,430Cost : £7,908,810Average cost / share : 79.03pBuy back terms:Cap # shares: 46,574,528Cap ($) : 25mRemaining firepower :# shares : 36,567,098$ : $15.9m

[mount teide] 14/10/2022 09:50

It's an updated view based on the information from the company now in the public domain, a technical assessment of the tank and shell plating photo's, together with long industry experience of working with Classification Society Surveyors.

[arlington chetwynd talbott] 14/10/2022 09:25

Fingers crossed that your conclusions pan out. Kudos to you all if they do.

[mount teide] 14/10/2022 08:40

ACT - two shipping industry friends(Shell and BP) that I first met during pre sea training over 45 years ago. All Master Mariners, that collectively have over 130 years experience, most at senior management level running shipping companies and ports.

Both hold similar size positions in JSE and TXP to myself.

[poacher45] 14/10/2022 08:23

Because of the small buybacks the 25 institutional holdings have only gone up by 0.15%. There have been no institutional sales according to simply wall street.

[arlington chetwynd talbott] 14/10/2022 08:09

Who are “we”? Do you have a link for that quote? I hope you have not just dressed up talking your book to make it sound as if you are quoting a third party!

[mount teide] 14/10/2022 08:04

It was very useful to view the internal condition of the tanks in the photos the company recently published. As these strongly suggest the overall physical condition of the FPSO is much closer to what we would have expected and that required by compliance with the Classification Rules and Regs. Consequently, we now believe the likelihood of the FPSO requiring dry docking is extremely low.

When considering the information in the photos together with NOPSEMA's requirements, we now also believe the FPSO could be back in production by the end of November and possibly as much as 2-4 weeks earlier.

Subject to, prompt appointment of the auditor and their early access to the FPSO, and the auditor's not unreasonable acceptance that following completion of the permanent repairs and assuming no adverse findings from the remaining cargo and ballast tank inspections, the FPSO could be operated while carrying out the review of the Ship Operating Manual's Inspection, Testing and Maintenance arrangements to manage the control of structural corrosion within the tolerances required by the Class Regs.

[alvarodrs] 13/10/2022 17:08

They could always do a tender offer at 75-80p of 10-20M. That would be easy enough.

[fireplace22] 13/10/2022 16:24

Nor can there be at this meagre level of trades. Pay day tomorrow though, is it not!

[alvarodrs] 13/10/2022 16:16

And meanwhile there are no (significant) buybacks

[pughman] 13/10/2022 14:39

We appear to have entered a phoney war period, where buyers and sellers await on the sidelines for news.

[arlington chetwynd talbott] 13/10/2022 08:01

Is it not one of those wear and tear issues that typically isn't insured?

[thegreatgeraldo] 12/10/2022 15:07

ount Teide11 Oct '22 - 07:55 - 11215 of 11219
0 6 1
Biden's disastrous “no ability for the oil industry to continue to drill, period, ends” policy, called out yesterday by Jamie Dimon the CEO of Wall Street's largest investment bank, who said the O&G industry should have been supported to pump more oil and gas from March.

Biden's crazy policy of thinking he could rely on murderous regimes across the world to make up the US' shortfall in O&G that his disastrous policy of ignoring energy security has unleashed on the US people and beyond, in the ludicrous pursuit of a 'green' renewable nirvana, has completely blown up in his face.

With the US SPR now running dangerously low

...Rather thought the US was a net O&G exporter, if not it's pretty close

[donald pond] 11/10/2022 21:21

Is there any insurance for the Montara issue? That could be very material

[alvarodrs] 11/10/2022 16:11

About the payment, it's a different one than the previously reported of 10.3M. It also relates to the Skua 11 well issue, but it is a separate claim under different levels of cover in the insurance policy.

The 10.3M was received in H1, actually. This is an extra 17M of which they will have to pay taxes, of course. Either way, it is close to 5% of the MC at a time where management is super conservative, so hopefully it will help them advance future Capex. I'm more hopeful everyday that they will end the year with the same cash as H1.

Good to know they remember that an RNS can also tell good news

[mount teide] 11/10/2022 08:42

OPEC+ 2m bopd cut - what has really got the Biden Administration's back up is that the Saudi's said this cut will last for 14 months, until December 2023.

[hierarch] 11/10/2022 08:11

It actually means they expected an original receivable of the $10.3m as this would have been managements best estimate of the receivable at YE - but actually received the $17m instead - 70% higher than they expected (although there would have been a probability/risk factor + discount factor for maybe 1 year or so incorporated into that original $10.3m recognised)

[mount teide] 11/10/2022 07:55

Biden's disastrous “no ability for the oil industry to continue to drill, period, ends” policy, called out yesterday by Jamie Dimon the CEO of Wall Street's largest investment bank, who said the O&G industry should have been supported to pump more oil and gas from March.

Biden's crazy policy of thinking he could rely on murderous regimes across the world to make up the US' shortfall in O&G that his disastrous policy of ignoring energy security has unleashed on the US people and beyond, in the ludicrous pursuit of a 'green' renewable nirvana, has completely blown up in his face.

With the US SPR now running dangerously low - the future is pointing in one direction - that which Dimon called for yesterday - Drill baby drill! The woke illiberal left's eco loon, climate change and flat earth communities, more commonly known collectively as the Democratic Party (a complete misnomer if ever there was one!), are going to 'warm' to that this winter!


JP Morgan’s CEO Urges U.S. Oil And Gas Drillers To Raise Production - Oilprice.com

'Jamie Dimon, the chief executive of JP Morgan, called on the U.S. oil industry to boost crude production to make up for OPEC+ cuts that could cause a severe shortage in the global oil market.

“In my view, America should have been pumping more oil and gas and it should have been supported,” Dimon told CNBC, adding “America needs to play a real leadership role. America is the swing producer, not Saudi Arabia. We should have gotten that right starting in March.”

Dimon also noted that the oil and gas supply problem is a long-term one and it is interfering with global energy security and even the energy transition by extending dependence on coal.

Meanwhile, the Energy Information Administration reported that the number of drilled but uncompleted wells in the U.S. shale patch in August had fallen to the lowest level since records began in 2013.

This is seen as a good signal because it means that drillers are not leaving a lot of wells uncompleted but are completing them and beginning production. The total of completed wells for August stood at 969 in August, up from a low of 253 in June 2020.

Despite these encouraging signs suggesting production growth, the industry itself remains guarded. The latest Dallas Fed survey, for instance, revealed that many executives in oil and gas are bracing up for a recession, contributing to their problems with cost inflation and supply chain challenges.

The Dallas Fed’s oil and gas industry index fell to 33.1 points from 66.1 points from the second to the third quarter of the year, "Our outlook remains positive, but is becoming more uncertain given continued monetary and fiscal tightening coupled with persistent inflationary pressure," one of the respondents said.'

[paduardo] 11/10/2022 07:44

I have a limited understanding of accounting, but the tax liability I believe is the amount they expected to pay in the future recorded in the year when the obligation is incurred. With the headline corporation tax rate being 19% in the UK does this mean the originally anticipated receiving closer to $50m but instead have settled for $17.2m? Don't look a gift horse in the mouth etc but still that is a big gap...

[croasdalelfc] 11/10/2022 07:30

Annual report 2021 page 71 :The Group further recognised deferred tax liabilities arising from the insurance claim receivable of US$10.3 million on the well control claim for the Skua 11 well workovers. The insurance claim will be taxable in future following cash receipt;

[arlington chetwynd talbott] 11/10/2022 07:30

Every little helps.

[thommie] 11/10/2022 07:18

Another 17,2m in the coffers. Was that due to the operational problems drilling the montara well that needed to be sidetracked? Good to be insured in that case...

[poacher45] 10/10/2022 14:05

This is not the top 11 holdings but the top 25 holdings on simply wall street.

[nigelpm] 10/10/2022 10:30

Thanks for that - really high level of institutional interest and plenty of names that won't be bothered by ESG mandates. Any good news here will see big uptick.