Jadestone Energy Share Discussion Threads

[thedudie] 26/1/2024 08:40

At last ... JSE must be very pleased that this is finally signed. They have been working away for years on this!

Although a fair way off .....

£140m of existing recoverable costs
Phased development Nam Du pays for U Minh
Big increase in reserves when FDP approved (presumably).
What looks like good terms ....

What's not to like.

[spangle93] 26/1/2024 08:17

... due to the considerably lower opex

[mount teide] 26/1/2024 08:05

Vietnam - 80 mmscfd under a take-or-pay arrangement over a targeted minimum plateau period of 55 months - that's equivalent to 13,700 boepd take or pay.

The circa $8.0 mmBtu regional nat gas price is around $50/boe - and would generate the same annual revenue ($251m) as 8,600 bbls of oil per day at a sales price of $80/bbl.

[nigelpm] 26/1/2024 07:56

Been a very busy few days but confirmation and further details behind the link croasdale posted...more future growth.

[croasdalelfc] 26/1/2024 06:46

30m barrels 2C resource become 2P reserves at some point. No problem with reserves based lending in 2026 then :)

[croasdalelfc] 26/1/2024 06:41

hTTtps://www.pvgas.com.vn/en-us/news/artmid/1355/articleid/13632/signing-of-heads-of-agreement-hoa-for-nam-du-and-u-minh-gas-fields-development

[1ajm] 25/1/2024 20:37

On a side note are those people you keep mentioning as 'trolls' that because they said the price would drop?

[1ajm] 25/1/2024 19:39

What a mundane response.

Also I don't know who those people are.

Also, tell me why i'm wrong.

How will it not slip to 20p on another 4-6weeks of waiting to dodge a bullet. Then April we get 2023 results.

Oil Price $82 the only hope.

[ashkv] 25/1/2024 16:18

God this is getting bad... JSE soon going to have negative Enterprise Value.

At 25p Enterprise Value of USD 177Mn for 26,000 boe/d production. Even with Decommissioning Costs EV/Flowing Barrel a low ball USD 29k boe/d at a share price of 25p!!!

JSE Share Price: 25.00p
Brent: $81.00
JSE Current Share Price vs 52 Week low of 21p on 18 Aug 23: 19.05%
JSE Current Share Price vs 52 Week High of 93.2p on 8 Mar 23: -73.18%
Shares Outstanding: 540,693,017
GBPUSD: 1.2700
Jadestone 2024 Production Mid-Guidance (20,000-23,000 Boe/d): 21,500
Current Production -> Past 4 week average (As per 15 Jan 2024 RNS): 20,000
Jadestone Production Average for 2023 (Including Montara Shut-Down): 13,800
Production Average for 2022: 11,487
Debt (USD) (USD 200 Million Reserves Based Lending (RBL) Draw) as of 31 Dec 2023: $157,000,000
Cash (USD) 31 Dec 2023: $152,000,000
Net Debt (USD) 31 Dec 2023 : -$5,000,000
Available Credit (Remaining USD 200Million RBL Available + USD 35Million Standby Facility): $78,000,000
Market Cap (GBP); £135,173,254
Market Cap (USD): $171,670,033
ENTERPRISE VALUE (Market Cap + Debt - Cash) (USD): $176,670,033
EV/Barrel(USD) 2024 Mid Guidance Production 21,500 Boe/d: $8,217
EV/Barrel(USD) -> Current Production -> Past 4 week average (As per 15 Jan 2024 RNS): $8,834
EV/Barrel(USD) Jadestone Production Average for 2023 (Including Montara Shut-Down): $12,802
JSE Decommissioning Expense Liability i.e. Asset Restoration Liability per HY 2023 Results: $574,656,000
EV/Barrel (USD) JSE 2024 23,000 Boe/d Production [Added Decommissioning Expense Per HY 2023 Results to Enterprise Value]: $32,666
EV/Barrel (USD) JSE YEAR END 2024 26,000 Boe/d Production [Added Decommissioning Expense Per HY 2023 Results to Enterprise Value]: $28,897
2P Reserves (Boe) as of 31 December 2022: 64,800,000
EV/2P: $2.73
EV(Including Decommissioning Costs)/2P: $11.59
Bloomberg Analyst Summary -> JSE Target Price (Avg of all 5 Analysts Reviewing JSE per BBG) as of 16 Jan 2024: 71.50p
% Upside to 12 Month Analyst Target Price: 186.00%

[yasx] 25/1/2024 16:02

I think they ventured beyond what is their core expertise and those mistakes have proven costly. A classic case of ne supra crepidam...

[saucepan] 25/1/2024 15:50

Going back to IPO days, wasn't a large part of the investment case the view that management were the bee's knees?

They don't seem to have lived up to their billing. Or is that unfair?

[yasx] 25/1/2024 15:08

Nigel,

Thanks for the update re IR.

[nigelpm] 25/1/2024 13:03

December video on website I just noticed also. A lot going on!

[nigelpm] 25/1/2024 12:46

HBR and NANO will go on to outperform I'd think.

[nigelpm] 25/1/2024 12:44

Also. Further with IR....Regarding peel hunt coming on board that is more around trying to get the jadestone investment case out into the market more widely.. certainly I saw that as a positive move when reading RNS this morning.

[nigelpm] 25/1/2024 11:26

Horrible performance I agree but looking forward as I always try to do.... the current valuation made little sense at 36p so it surely makes even less at 25p.

[nigelpm] 25/1/2024 11:13

I reached out to IR this morning RE: PM428 - see below:

"The PM428 licence application was a tactical decision by Jadestone in the context of its ongoing discussions with Petronas around the Puteri Cluster (renamed from PNLP, or the previously non-operated PenMal assets acquired in 2021). The PM428 licence is in very close proximity to the Puteri Cluster and would represent upside potential in the event we were awarded the Puteri Cluster. However, as those discussions are ongoing, we need to take a balanced approach and not create unnecessary “hype” around the PM428 award, which carries a minor financial commitment to reprocess vintage seismic. This does not signal a change in strategy (I have seen some speculation that we are pivoting towards exploration with this award, which is incorrect)."

[tom111] 25/1/2024 11:08

There are no shorts showing atm

[fardels bear] 25/1/2024 10:57

I don't think confidence has anything to do with it. There are far more shorts here now than ever before and it would seem that any rns is greeted with increased volume by shorts to drive the price lower.

[tom111] 25/1/2024 10:54

buyers almost level now seems like we may have bottomed out now,topped up anyway oil is over $81 should help