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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
  6.00 7.5% 86.00 84.00 87.00 86.50 79.30 80.00 1,618,538 16:35:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 159.4 -41.9 -9.5 - 400

Jadestone Energy Share Discussion Threads

Showing 11526 to 11548 of 12425 messages
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DateSubjectAuthorDiscuss
17/11/2022
09:58
Montara - by appointing a leading Classification Society as Auditor, Paul Blakeley is demonstrating to both NOPSEMA and the wider market that he is dealing with the issues in a highly professional way.

DNV provide independent Classification Services to nearly 20% of the global shipping fleet, including many of the leading shipowners across the three main shipping sectors. As mentioned previously, ship owners of poorly maintained tonnage keep well clear of the likes of DNV and Lloyd's Register when looking for Classification Services.

2022 production at the lower end of the range suggests H2 production of circa 7,250 bopd. Which by implication, suggests little if any contribution from Montara in H2 and, that although progress with the tank inspection, repairs and remediation work is progressing satisfactory, it's at a pace consistent with the limitations of carrying this work out in situ, rather than a fully manned and equipped shipyard.

Montara tank photos - the internal condition of the 4S Ballast Tank is in a very good overall condition - as with Cargo tank 2C, its much better than I was expecting.

What I take from today's update is that when the work on Montara is complete, NOPSEMA, Jadestone shareholders and the wider market can have a very high confidence in the structural condition of the FPSO and its production machinery. And, that the revised inspection and maintenance plan formulated with the DNV surveyor, will be designed to not only meet future Classification Society requirements but, to ensure safe operation of the FPSO through to at least the end of its expected commercial life in 2032.

AIMHO/DYOR

Good to hear the Stag heavy sweet crude premiums have bounced back very strongly following the summer weakness

mount teide
17/11/2022
08:35
Sorry eight oh two.
fardels bear
17/11/2022
08:35
Strange no trades being reported since five past eight.
fardels bear
17/11/2022
08:15
Maybe not but dry dock is looking increasingly unlikely so all is well.
arlington chetwynd talbott
17/11/2022
08:05
Not having a restart date is no change to the position since the FPSO was shutdown- the company did talk of "towards the end of the year" as one scenario - so I think the market is largely pricing in for the end of the year at present.

there will no doubt be some sellers and weakness in the price today, as some may have positioned for a short term trade against a restart rns catalyst.

sea7
17/11/2022
07:56
Good news then but is it as good as the market was pricing in?
fardels bear
17/11/2022
07:53
If you were a market maker for Jadestone surely you would expect a warning that good news was on the way you would not want to be caught short.
poacher45
17/11/2022
07:43
Good sensing yesterday for an rns today Mt :) it again shows that this game isnt fair, as the MM seem to have infos before PIs...
thommie
16/11/2022
15:48
Thanks for feedback Alvar. I will take a look back at the presentation. Sometimes it feels like we have to fill in the blanks a bit with less than perfect information!
moonshot3
16/11/2022
14:23
Moonshot3 - Answers to the NWS 2023 earnings

-650kbbls lifting (don't count prod, they counted only the amount that will be sold)

-US$100/bbl realised! price (incl premiums)

-10% royalty (the CWLH fields pay a 10% royalty to the Western Australia government – note we have applied this conservatively with no deductions. In reality, there will be allowable deductions like depreciation which could reduce the absolute royalty payment).

-Opex of US$17m, or US$25/bbl – this was the figure used on slide 7 of the acquisition presentation

alvarodrs
16/11/2022
14:09
L2: MM Scap wants your shares and is prepared to pay a 3p premium to the rest of the MM'a on the BID to get them.
mount teide
16/11/2022
14:06
moving up again.
sea7
16/11/2022
13:55
Or have picked up news of an RNS being prepared for tomorrow!

Never underestimate MM greed - no one will ever got poor doing so.

mount teide
16/11/2022
13:44
L2: the two MM's at the top of the offer moved from 79p to 82p after 11:30 on minimal published transaction volume.

If a substantial buy is not published later, the MM's are probably trying to generate buying pressure to push the price higher.

mount teide
16/11/2022
13:35
and on very few trades.
fireplace22
16/11/2022
13:34
sea7 - that damage to the structural integrity of Oil Tank 2C has since been traced to a faulty weld carried out by the shipyard during conversion.

The corrosion damage in tank 2C was found to be localised to the faulty weld and not representative of the overall condition of the cargo tanks.

Something which could be confirmed to the trained eye by inspection of tank, deck and shell plating photographs subsequently made available by the company.

mount teide
16/11/2022
13:29
did wonder that fireplace - seems to be moving
sea7
16/11/2022
13:27
sp may be indicative of a positive outcome and news of the FPSO?
fireplace22
16/11/2022
13:22
re the cessation of montara fpso ops earlier this year

hTTps://www.nopsema.gov.au/sites/default/files/2022-06/A851284_0.pdf

Environmental Prohibition Notice
Dated 20 June 2022

The grounds that have satisfied me that an activity may occur at the premises that would involve an immediate and significant threat to the environment are:

 Cargo oil tank 2C (COT 2C) has structural integrity failure and is currently carrying 10,000m3 of petroleum and has a temporary containment device installed in a 35mm hole (approximate) in the tank floor;

 Based on this known failure it is now reasonable to conclude that the structural integrity of the remaining cargo oil tanks is uncertain.

and

Action that may be taken that is considered adequate to remove the threat to the environment is:

1. Prevent further loss of containment of petroleum liquids by ensuring petroleum product does not exit leak point(s) in cargo oil tank 2C; and

2. Implement engineering controls to restore structural integrity of cargo oil tank 2C in a manner that prevents the recurrence of loss of containment to the marine environment; and

3. Assess the fitness for service of any tank capable of holding petroleum and undertake any appropriate remediation works prior to loading into that tank.

Or, by any other means that satisfies NOPSEMA the threat to the environment has been removed.

sea7
16/11/2022
13:02
thanks for the sums moonshot. Good stuff.
winnet
16/11/2022
11:25
In the Moram note they state similar premium as Montara. 3 to $4 to Brent.If they can buy the woodside 50% they should get 100 million net cashflow from tis asset alone
jeff114
16/11/2022
10:13
North West Shelf Acquisition:

Per RNS, dated 28 July 2022, JSE said:

Unit operating costs for the Seller's interest are estimated at US$22-23/bbl
2023 EBITDA will be approximately US$40 million at realised oil price of US$100/bbl
The oil is low-sulphur, low-density and commands a premium to Brent

2023 ESTIMATE

2,100 bopd x 365 days = 766,500 bbls for the year
Revenue = $76.6m (at $100/bbl)
Opex = $17.6m (at $23/bbl)
Revenue - Opex = $59m

If EBITDA is $40m, then that implies other costs, pre EBITDA of $19m

CAPEX = $2m

Cashflow before tax = $38m
Tax at 30% = $12m (no PRRT as JSE has PRRT credits)

Net cashflow for 2023 = $26m [assuming realised price of $100]

Does anyone know the amount of the premium attached to NWS oil over and above Brent pricing? For 2022, I have seen the Stag premium between $12 and $22 and the Tapis premium between $3 and $9, so the premium can make quite a bit of difference to the final realised price.

moonshot3
16/11/2022
08:51
If there is any tax problem with buybacks it would be relatively straightforward to migrate the company to a jurisdiction where there wasn't. I'm surprised that JSE appears to be a UK company tbh.
donald pond
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