Jadestone Energy Share Discussion Threads

[fardels bear] 13/2/2024 11:13

Found a new palantir, have you?

[tom111] 13/2/2024 11:11

Talking about a bad toothache like you did the other day,well

[yasx] 13/2/2024 10:50

I reckon if KSE is not the preferred bidder (and that is likely the probable outcome) it might not be a bad thing. It seems a step too far for PB based on his handling of matters the past couple of years.

[fardels bear] 13/2/2024 10:25

Yes, I suppose there are some knockers about who never understood the philosophy here.

[nigelpm] 13/2/2024 10:24

Agreed MT - no harm in re-iterating the point.

[fardels bear] 13/2/2024 10:18

That's what I thought, MT. That's why we are all here, isn't it? Gor blimey.

[mount teide] 13/2/2024 10:15

npm - Chris is a little late to the party - some of us have been writing(and investing in regional second phase O&G specialists) about the oil majors, NOC's and large independents divesting from the maturing O&G markets of SE Asia and Africa for over 5 years!

[nigelpm] 13/2/2024 10:14

If JSE fails in this bidding process, will the market’s reaction be severe punishment or indifference ?

Apart from some opex and management time I doubt it will make any odds.

[tom111] 13/2/2024 10:11

Fromw what i have been reading a reverse takeover takes 1 to 3 months

[klassic] 13/2/2024 10:11

Question;
If JSE fails in this bidding process, will the market’s reaction be severe punishment or indifference ?

[fardels bear] 13/2/2024 09:47

Sometimes you just have to go with the flow.

[mount teide] 13/2/2024 09:42

Woodside first put the Pyrenees assets up for sale in August 2023 - suggesting, there may well be the potential to negotiate a backdated effective economic date.

At 29,000 boepd of production a day, with most commanding a huge premium to Brent - that's potential revenue of circa $250m a quarter at the current Brent price - the accrued financial benefit for a backdated effective economic date could quickly knock a major hole in the suggested circa $500m headline price.

[yasx] 13/2/2024 09:26

This proposed deal is not in keeping with the recent publicly declared JSE strategy of reduced reliance on a specific asset, reducing risk and financial discipline.

I do wonder what Pb is up to…

[e43] 13/2/2024 09:16

Hope it happens faster than the ongoing suspension and acquisition of and by SAVE

[thedudie] 13/2/2024 09:12

e43 it can be done any number of ways - eg Serica's Tailwind acquisition left Mercuria with a stake in Serica and Harbour's acquisition will be done similarly. Other deals require a placing by the acquirer and are basically done for cash.

[e43] 13/2/2024 09:04

No SteMis,it's classified as a reverse takeover, due to the size of the acquisition being larger than JSE ie JSE is the smaller fish,Woodside don't want a stake in JSE.

[mount teide] 13/2/2024 09:02

The Pyrenees project consists of six conventional oil fields located approximately 45km northwest of Exmouth, Western Australia, in the Carnarvon Basin. Crude oil is offloaded from the FPSO directly to tankers for sale to international markets and attracts a premium to Brent due to its very low sulphur content. Produced formation water is treated on the facility and reinjected for disposal in four subsea water injection wells.

A single well into the Macedon gas field allows for injection or production of natural gas depending on facility requirements. The Pyrenees Phase 4 production development project has been sanctioned with infill drilling and well intervention for water shut-off.

Pyrenees Conventional Oil Fields - Ownership Structure:

Block: WA-42-L
Woodside 71.4%
Santos 28.6%

Block: WA-43-L
40.0% - Woodside
31.5% - Santos
28.5% - Inpex

The Pyrenees conventional oil field - recovered 75.36% of its total recoverable reserves, with peak production in 2010. Based on economic assumptions, production will continue until the field reaches its economic limit in 2047.

The FPSO Pyrenees Venture completed a 70-day inspection, refit and maintenance dry-dock program in Singapore in 2018 - 1,000 maintenance operatives from more than 20 nationalities and 15 contracting companies were integrated into one team to complete the work on schedule and to budget.



Source: Offshore Oil and Woodside


Australian crudes, light or heavy, are the sweetest grades globally. They typically have a sulphur content of less than 0.3%-0.4%, which means, some of the heavy grades can go straight into the low sulphur marine fuel blending pool.

The very high premiums paid for Australian heavy sweet crude's do not reflect the refining value of the crude, but rather its value for blending into the low sulphur fuel oil pool for the marine fuel market.

Pyrenees attracts the highest premiums to dated Brent, largely because it is generally sold in much larger cargo sizes than the other Australian low sulphur heavy crudes:

0.14% Sulphur / 18.5% API - STAG - Australian / JADESTONE
0.19% Sulphur / 19.3% API - PYRENEES - Australian / WOODSIDE and SANTOS
0.37% Sulphur / 17.4% API - VINCENT - Australian / WOODSIDE
0.37% Sulphur / 18.5% API - VAN GOGH - Australian / BHP

[nigelpm] 13/2/2024 09:02

In that situation yes Stemis - would reduce the potential upside but materially increases the chance of getting partway there.

[jnbrw] 13/2/2024 09:01

Is the co suspended?

[thedudie] 13/2/2024 09:01

Yes I expect some equity would be used, but with cashflow and RBL maybe not all of it.

Hibiscus has a strong overlap with JSE (if they dropped the UK assets).

[nigelpm] 13/2/2024 08:57

All speculation at this stage until we see the next RNS.

[nigelpm] 13/2/2024 08:56

I wouldn't be surprised at an RBL extension either but will be equity backed as an offer to Woodside that beats Carlyle and potentially the Malaysian Hibiscus.

[thedudie] 13/2/2024 08:53

Or the banks up the RBL by $300m - they may like the risk spread a bit as well.

[stemis] 13/2/2024 08:49

But presumably will leave Woodside with a majority stake in JSE (unless they can place some of the shares) and a lot of the upside dependant on how expensive/cheap are the assets they acquire. Effectively would dilute some of the upside (to the extent it materialises) from the existing assets...

[e43] 13/2/2024 08:47

Nigel,it's JSE's' management' skills and value destruction over the past couple of years that invite scepticism