Jadestone Energy Share Discussion Threads

[11_percent] 16/2/2024 10:33

Seems to me its cheaper to scoop up the smaller oil and gas companies themselves while they are at rock bottom valuations than mess about buying assets divested by majors.

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Good point.

[fardels bear] 15/2/2024 10:20

Or the soup kitchen

[trump45] 15/2/2024 10:11

Nice timing. I put my entire pension in here on the drop from the Jan RNS. Go big or go home.

[fardels bear] 15/2/2024 09:35

Seems to me its cheaper to scoop up the smaller oil and gas companies themselves while they are at rock bottom valuations than mess about buying assets divested by majors.

[ashkv] 15/2/2024 09:31

Incredulous how so many big companies are seeking to sell non-core high carbon intensity hydrocarbon assets in preference of more carbon efficient oil extraction operations!!!

So much opportunity for small/mid E&P firms to scoop up these assets as they are not maligned by activist investors unlike the mega/large hydrocarbon firms!!!

And as "It" was in a facetious slant inquiring as to claw back of decom costs - as the excellent recent substack analysis conveyed these costs are not clawed back for the already transacted JSE deals.

For CWLH assets decom costs are paid upfront in full and for Malaysian/Penmal assets the lions share of the decom costs have already been fulfilled in a dedicated abandonment fund / are also paid on an ongoing basis.

The majority of JSE Decom liabilities are for Montara and Stag - the latter has a shelf life till the mid 2030s... And Montara also has a ways to go!!!

[nigelpm] 15/2/2024 08:01

Very nice timing!

[upwego] 15/2/2024 06:55

Bought £25k worth day before suspension. I`m also in SAVE as well suspended also due to a RTO been 14 months to date, I`m sure it won`t take that long for JSE as I feel Africa is just long, real long.

Anyway happy to have bought at that price with already another 2300bpd added and if they can pull it off, then it fireworks for sure.

However, there is no confirmation that any offer has been accepted by woodside so pretty much still pie in the sky.

Will see, in the mean time 2 big share holdings of mine both suspended.

Good Luck all

[the_gold_mine] 14/2/2024 21:09

I can´t speak for recent operational performance but in terms of track record for closing top quality O&G acquisitions I don´t think there are many out there better than Paul Blakely. And I wouldn't put it past him to pull a rabbit out of the hat on this one.

[nigelpm] 14/2/2024 12:17

Well quite - but Tyrus would need to be happy to relinquish shares so any other external bid would need to be at a material premium to 50p one would think almost certainly ruling that out too.

[1ajm] 14/2/2024 11:44

Hope it keeps going in a positive direction MT.

Glad the RNS was as expected today, a bad RNS today would have felt devious.

Quick question with regards to abandonment funds in general. If an asset is sold with an abandonment fund can it be claimed back by the seller and the new owners have to fulfil the liability? as in a transfer kind of scenario. (either way of course it is taken into account when reaching a deal, I was just curious on specifics without searching through the abandonment fund act pages)

2nd question. more specific to todays RNS. Japan Australia LNG (Mitsubishi Australia ltd) have they public given any reason for their decision to pay for someone to take their share of CWLH? is it change of strategy? not wanting to fund decommissioning obligation? Not wanting to deal with oil anymore?

Thanks.

[winnet] 14/2/2024 11:09

Okay, thanks, MT.

Probably wouldn't stop AN Other investment house from doing the same though... The longer we stay off the market, the more progress we make, and the more chance of what I suggest coming to pass.

Just my opinion.

[mount teide] 14/2/2024 11:07

Winnet - Tyrus - it’s an opinion based on research that strongly suggests it’s not in their investment model DNA.

[pughman] 14/2/2024 10:34

ashkv, those current production numbers feel about right. The CWLH March 24 lifting has been sold at a small premium to Brent.

[fardels bear] 14/2/2024 10:33

Make that the half time score.

[fardels bear] 14/2/2024 10:31

I'd say rather that the current state of the game being played against JSE shares the current score is 23.5p

[winnet] 14/2/2024 10:26

ashkv - Yes, but the last time I looked the market valued us at 23.5p!! So if Tyrus came in [as part of the Woodside deal] with a bid to take us private at 50p, I would not be surprised in the slightest!

MT - zero chance? Care to share why?

[ashkv] 14/2/2024 10:25

Eye of the tiger MT!!! All the best!!! May the force be with you!!!

[mount teide] 14/2/2024 10:23

Pug - Malaysian O&G basins - already shaping up to be one of Jadestone’s primary areas of organic production development and M&A activity. If the speculative interest in Pryenees is unsuccessful(Blakeley likes a bargain) I strongly suspect Malaysia will prove to be of even greater interest to the company, as it’s a market they know very well from their Talisman days and where operators of mature fields are getting very attractive fiscal incentives to extend the licences. On what I know, I fully expect to be Jadestone shareholder in 2 years time, probably at a share price much closer to 100p than the current price. I believe there is zero chance of Tyrus making an offer for the company. AIMHO / DYOR. Sent from a phone as I sit in a clinic having the latest round of immunotherapy drugs intravenously drip into me for hours on end - a very small inconvenience considering the incredible life extending impact they‘ve had on me over the last 5 months! Whatever happens over the year ahead the disease knows it’s in a real fight against an opponent that hits back and won’t be going quietly!

[ashkv] 14/2/2024 10:18

I would be flabbergasted if JSE agreed a bid at 50p

Share price should be 80-90p by year end 2024/early 2025 at $80 plus Brent, and Montara behaving....

PB himself in a recent conference call/webinar valued JSE at 90p!!!!

[ashkv] 14/2/2024 10:14

MONTARA (H1 23 Premium to Brent $1.5) 6,000 boe/d
STAG (H1 23 Premium to Brent $16) 2,500 boe/d
CWLH (Brent? No mention of adj in H1 23 Results) 4,600 boe/d
PENMAL (H1 23 Premium to Brent $3.5) 6,500 boe/d
SINPHUHORM (Reported as Dividend for JSE Share) 1,500 boe/d

Current "Estimated" Production Prior to Akatara Start -> 21,100 boe/d

[yasx] 14/2/2024 10:05

It has for a while been something of a concern - is PB playing to the tune of Tyrus and what do they have in mind?

[winnet] 14/2/2024 09:58

I did say i was speculating, Tom. I'm just thinking about what I would do if I was PB.

[tom111] 14/2/2024 09:47

We dont know if our bid will be accepted yet,jumping the gun somewhat

[pughman] 14/2/2024 09:43

Over 50% of 2024 production with today's news and Akatara producing for 6 months will come from Australia, where costs seem to be rising inexorably. If yesterday's deal goes through, that will rise to over 80%. MT said Malaysia offered far more value, if there are so many deals out there, why are Australian assets dominating the JSE portfolio.