Jadestone Energy Share Discussion Threads

[taurusthebear] 20/1/2023 15:20

I paid 100 pesos for a dorm bed in Bacolod City 4 years ago - I call that a bargain. :-)

[tom111] 20/1/2023 14:28

Looks good value here a top up for me

[e43] 20/1/2023 13:21

N1953,just done one of my favourite drives San Carlos to Bacolod.

[fireplace22] 20/1/2023 13:12

Apart from the obvious, here's a reason why UK wind power isn't any answer to cheap electricity:

'The Crown Estate confirmed on Thursday it had signed lease agreements for six offshore wind projects which have the potential to power more than seven million homes.

Three of the six projects are located off the North Wales, Cumbria and Lancashire coast, and three are located in the North Sea off the Yorkshire and Lincolnshire coast. Together they will pay around £1 billion to the Crown Estate every year.'

[dunderheed] 20/1/2023 12:51

Nice one matey.
Yes Labour are total mugs but then again, the lack of coherent energy policy for the last 20 years for the whole of Europe doesn't show for much. I suppose isn't suicidal though?
All IMHO, DYOR.

[nicnic1953] 20/1/2023 12:31

Dh
Still heavily in serica ,but not liking impending merger,just glad I been putting last two years divin into here and more so zephyr in USA, the North Sea o&g ain’t going to look good if kier gets in ….I’m living in dumaguete!

[dunderheed] 20/1/2023 12:16

Mate - I knew I remembered you from somewhere!!

[nicnic1953] 20/1/2023 12:15

Dunderheed
And u can always use philippines for a ‘visa run ‘. being nearby !

[dunderheed] 20/1/2023 11:29

Absolutely and would even come out of retirement to live in Thailand, ahem!

[mount teide] 20/1/2023 11:20

With the shipping industry's demand for HSFO forecast to grow by 30% through to 2030, and the APAC region its highest demand and growth market by far, it's not surprising the RNS contained these hints:

"Management believes further equity in the Sinphuhorm gas field could become available in the near-term."

"Establishing a presence in Thailand, as well as re-engaging directly with PTTEP, will also leave us well-positioned to capitalise on further potential asset divestments that we see coming to market in the near-term."

The quality of this deal and the exceptional value of the recent Valeura deal in the Gulf of Thailand seems to have energised the management into looking much more closely at the asset divestment potential of the country.

Goodbye NZ hello Thailand, Malaysia and Indonesia !

[croasdalelfc] 20/1/2023 11:13

Capex plans are in the ppt . Around $4m for 2023. One well on 2023. The high EBITDA but relatively long payback points to higher taxes perhaps

[kaos3] 20/1/2023 11:09

probably lots of maintenance upgrade work needed. specially on ESG front ... plus some down time planned to do it

rust , new and additional sensors, welds etc ...

I am more and more getting why the industry insiders love JSE. as a welcome partner. not only for their geology/pumping expertise but also for providing boring detailed uplift of the /outdated/ infrastructure.....

a makeup expert which can do wonders with the older lady so she looks like a teenage girl

special kind of non downstream expertise

[king suarez] 20/1/2023 11:02

Payback over 3.5 years doesn't compute with an acquisition cost of just $32.5m, but EBITDA of $20m annually.

Presumably forecasting lower EBITDA going forward, or spending a lot of CAPEX to enhance production? Thoughts?

[dunderheed] 20/1/2023 10:48

I personally think its a very good deal.
Also I think Montana should resume in February now and expect a pretty good revaluation reaction then?
All IMHO and dyor of course.

[croasdalelfc] 20/1/2023 10:48

I was intrigued by that and the $20m EBITDA from just 1600boe . The $20m EBITDA figure suggests $34 EBITDA per boe! Which in turn suggests they get >$50/boe!

[mount teide] 20/1/2023 10:36

'The Sinphuhorm gas price is linked to high sulphur fuel oil'

HSFO across APAC is currently averaging $72.5/bbl

If the sales price is directly equivalent to HSFO, then the realised gas price would be circa $12.50/mmcf - around half the price of imported LNG.

[dunderheed] 20/1/2023 10:13

Oh well so much for continuing up to 90p, lol.

[mount teide] 20/1/2023 09:56

The North Sea's largest O&G producer Harbour Energy announces hundreds of job cuts as it shifts it's investment focus to outside the UK, in response to the UK Government increasing the corporate tax rate to 75% on the industry.

Total recently announced a 25% cut in North Sea investment in 2023 owing to the tax.


Oil giant Harbour Energy blames windfall tax as it cuts hundreds of jobs - Telegraph

'Britain’s largest North Sea producer has blamed the new windfall tax as it prepares to cut hundreds of jobs and shift attention to outside of the UK.

Harbour Energy says it is reviewing its UK organisation “to align with lower future activity levels” after the tax rate on North Sea drillers was increased from 40pc to 75pc following months of soaring gas and oil prices.

The FTSE 250 company told staff of the planned job cuts on Wednesday. It has not revealed how many jobs will be lost. Industry sources believe it is in the hundreds. It employs around 1,500 in the UK.

The move is likely to ring alarm bells in Whitehall, which has been trying to boost North Sea oil and gas production even as it raids producers’ profits to try and help households facing record energy bills.

Harbour’s profits climbed from $120m [£97m] in the first half of 2021 to $1.5bn in the first half of 2022, thanks to higher energy prices and higher production.

Drillers across the industry have been reporting record profits after Russia’s invasion of Ukraine triggered market disruption and worsened shortages, pushing up prices.

Harbour made revenue of $4.1bn during the nine months to September 2022. It has said it expects to pay an extra $400m in 2022 UK taxes because of the higher rate, taking its total UK tax bill for the year to $900m.

It is the first company to blame job cuts on the windfall tax, although others have warned it could curb investment.

TotalEnergies, the French oil and gas giant, has said it will cut North Sea investment by £100m or 25pc this year owing to the tax.

The tax rate was raised to 75pc in two stages, in May and November, and includes investment allowances. But Harbour Energy had invested heavily in a new Tolmount gas field in the southern North Sea which started producing just as the windfall tax came into effect.

Linda Cook, chief executive of Harbour Energy, has been a staunch opponent of the extra tax. She warned the Government to “carefully consider” the consequences as it prepared the November increase.

Mike Tholen, sustainability director at Offshore Energies UK, the trade group, said the government needed to “rebuild confidence” among industry.

He said: “These tax increases, and the threat of more to come, have made the UK a much riskier place to invest and so makes it far more likely that investors will look overseas instead.”

Harbour Energy became the UK’s largest producer after buying up oil and gas wells from Shell and Conoco-Phillips in 2017 and 2019.

It joined the London stock exchange after taking over Premier Oil in 2021. It is currently focused on the UK, which accounted for 97pc of its production during the first nine months of 2022. It also has assets in Mexico and Indonesia.

It comes as oil prices are expected to rise in the second half of this year amid rising demand as China’s economy reopens.

The International Energy Agency said the prospect of this recovery is one of two “wild cards” that will dominate the market in 2023, the other being the impact of sanctions on Russian supplies.

A spokesman for Harbour Energy said: “Following changes to the EPL [energy profits levy], we have had to reassess our future activity levels in the UK.

“We will continue to support investment on the many attractive opportunities within our existing portfolio, but we are scaling back investment in other areas such as new exploration licensing.

“As such, we have initiated a review of our UK organisation to align with lower future activity levels.”

A Treasury spokesman said: “The Energy Profits Levy strikes a balance between funding cost of living support while encouraging investment in order to bolster the UK’s energy security.

“We have been clear that we want to encourage reinvestment of the sector’s profits to support the economy, jobs, and our energy security, which is why the more investment a firm makes into the UK, the less tax they will pay.” '

[dunderheed] 19/1/2023 17:40

I reckon we will creep up until 90 for what it's worth!

[tom111] 19/1/2023 16:10

We may hang around 82p until we have conformation

[croasdalelfc] 19/1/2023 15:47

A group of JSE long term holders who are also in twitter

[tens machine] 19/1/2023 13:13

What is this twitter group that you speak of?

[mount teide] 19/1/2023 13:03

L2: 1 v 1 / 82p v 83p (rest between 84p and 88p ) - Stifel on 81p v 85p