Jadestone Energy Share Discussion Threads

[croasdalelfc] 27/10/2022 10:36

I would say they wanted todays bad news out the way before the restart good news.Much better than the reverse but they also had to update about Montara and were as explicit as possible

[croasdalelfc] 27/10/2022 10:34

At no point has the company indicated that a dry docking would be needed . MT's unfortunate typo - is just that - a typo.The previous webcast on 20th Sept indicated it would take 4 weeks for a full repair of the tank though it depended on cleaning it first and how long that would take. We are 5 weeks on- The independent auditor still needed to be appointed and the scope of work decided. That would have 2 possibly 3 weeks . I would think an update would include detail on full repair of all the tanks plus the scope/detail on actions before a restart.

[fardels bear] 27/10/2022 10:23

Would you bet on it?

[fireplace22] 27/10/2022 10:21

Colder waters FB, rate of corrosion much less.

[fardels bear] 27/10/2022 10:19

Didn't the Maari FPSO get converted in the same shipyard that did the Montara FPSO?That could be a huge silver lining, guys.

[ashkv] 27/10/2022 10:07

I didn't see any such indication and with Green / Left Wing government in power in Australia - all regulatory bets are off. 4 Days to November and no guidance / affirmation as to Q4 2022 for restart upon repair completion followed by regulatory review / clearance.

Q1 2023 more probable and later if issues with repairs and/or regulatory process drawn out due to the lefties / loonies running life in Aussie Land.

pughman
27 Oct '22 - 08:46 - 11292 of 11302
0 1 0
This RNS indicates a pathway to Montana restarting, either in Q4 22 or Q1 23. If that turns out not to be the case, management credibility will be wiped out.

[mount teide] 27/10/2022 10:05

Apologies guys - massive typo - it should have read it does NOT require dry docking!

[papy02] 27/10/2022 10:01

MT when you say does require dry docking, do you think that, or did you miss a Not?

[fireplace22] 27/10/2022 09:48

So far we've had or will have had 3 months lost production, 3 months of cleaning, inspection and repairs only to discover that it now needs dry docking for further repairs, regardless of the size and complexity of the work this all seems a bit incompetent? If indeed it is the case?

[royalalbert] 27/10/2022 09:48

Anyone know the actual production at this point.

[arlington chetwynd talbott] 27/10/2022 09:43

You now think dry docking is likely to be required then? Ouch! Surprised it has not fallen further this morning.

You previously said:

“guided by the technical information/management statements in the public domain, completion of the outstanding tank inspections and permanent repairs could potentially progress to permit a resumption of production during November.”

At least we will get a good bang for our buyback bucks over the dip...

[dunderheed] 27/10/2022 09:41

MT, agree re dry docking IMHO.
Disappointed but not surprised by Maari and hope to be surprised to upside with some new left field BD opportunities to counter the possible news re Montara.
All IMHO, DYOR.

[elsa7878] 27/10/2022 09:34

Dry docking = more comprehensive repairs, extended timescales and more expensive I assume?

[mount teide] 27/10/2022 09:22

Maari - disappointing, but had become increasingly inevitable when considering the behaviour of the NZ Government.

Montara - 'We now have a clearer path towards completing the repairs on the Montara Venture FPSO and we will provide a more detailed update on this soon.'

Suggests they have agreed with the appointed auditor/surveyor the repairs/remedial work to be carried out and that it does require dry docking.

[nigelpm] 27/10/2022 09:18

Yes, expected news combined with some very positive outlook - market reaction tamed by buyback for sure.

[royalalbert] 27/10/2022 08:59

Must say this part of the RNS does sound highly encouraging.

"Elsewhere, Jadestone is making good progress on a number of fronts with several potential near-term positive catalysts. We now have a clearer path towards completing the repairs on the Montara Venture FPSO and we will provide a more detailed update on this soon. The Stag infill drilling programme is progressing well, with the first well now at the completion stage and the second well soon to reach the reservoir interval. The Akatara gas development remains on track and the Vietnam gas sales discussions with the end-user are making progress. The completion of the North West Shelf oil acquisition from BP is still expected this quarter, as is the acquisition of the remaining 10% interest in the Lemang PSC. Finally, there are a number of inorganic opportunities across the Asia-Pacific region which are under evaluation. Overall, the outlook for Jadestone remains positive and we are excited for the future."

May even end blue today.

[tens machine] 27/10/2022 08:59

I would not be surprised, to see another acquisition in pipeline as maari seems too much trouble than it's worth which can be laid at the foot of lack of investment due to the governments ineptitude

[pughman] 27/10/2022 08:46

This RNS indicates a pathway to Montana restarting, either in Q4 22 or Q1 23. If that turns out not to be the case, management credibility will be wiped out.

[fardels bear] 27/10/2022 08:39

Well, that last one for a start.

[buffythebuffoon] 27/10/2022 08:37

FB,

What metaphors are you mixing?

Buffy

[fardels bear] 27/10/2022 08:27

Markets hate uncertainty. Maari has been a sea anchor around our necks for years. I love mixed metaphors.

[elsa7878] 27/10/2022 08:27

I think it was assumed that Maari would lapse. Say 90% chance. So in my view the share price reduction today is about Montana as much as Maari.

[arlington chetwynd talbott] 27/10/2022 08:25

Still sounds encouraging though (i.e. does not sound like dry dock). The Maari issues have been well flagged.

[fardels bear] 27/10/2022 08:24

Fair enough. I don't particularly care if you never buy back in.