Jadestone Energy Share Discussion Threads

[nigelpm] 22/2/2024 10:20

Yes, with the potential for a whole series of other RNS around Trading updates....bidding progress.....other bolt-on acqusitions.

We could quite easily awaken to a complete different company when shares are unsuspended.

Alternatively we could be unsuspended shortly and out of the bidding process.

I know I'd prefer the former but let's see.

[tom111] 22/2/2024 10:17

After that full Y/E results late April.How long was you expecting us to be reinstated Nigel?

[nigelpm] 22/2/2024 10:06

I hope we aren't reinstated as that will mean we are likely preferred bidder with an opportunity to transform the business.

Next RNS should be confirmation of RBL redetermination.

[tom111] 21/2/2024 14:41

Thats of cause if we are reinstated (hope so)

[mount teide] 21/2/2024 13:18

Q2 obviously means any date up to and including the 30th June, however, I suspect the market would react very well were the contractors to complete comfortably before that date.

Even based on the content of the latest video, I for one would be not bet against a very highly regarded Japanese civil engineering contractor, with a long and enviable track record across the region of completing major O&G industry development projects on time and to budget, to beat the deadline.

AIMHO/DYOR

[tom111] 21/2/2024 11:39

Thats what i was expecting FB

[fardels bear] 21/2/2024 11:19

It said by the end of Q2. So, that's by the end of June.

[tom111] 21/2/2024 08:49

Pretty sure it said to production 2nd quarter

[kaos3] 21/2/2024 07:47

Depends on definiton of completition

Is it physical
Or
Is it operational

Probably physical. Meaning after 100 % finished there is a long way to go to the production.

Certification, test running etc

[pughman] 20/2/2024 23:57

It'll be March next week, I bloody well hope so.

[nigelpm] 20/2/2024 22:25

It may well complete whilst share is still suspended

[pughman] 20/2/2024 22:00

Akatara progress.
20.7.23-42% completed.
31.8-55%.
9.10-70%.
13.11-83%.
4.12-87%.
15.1.24-91%.
31.1-93%.

[mount teide] 20/2/2024 21:31

pughman - had my doubts too - During many months in 2023 they completed 5-7% of progress, so it will be interesting to see how long they take to complete that last 7%.

[nigelpm] 20/2/2024 19:52

It's like a lot of construction. Large part of the time cost is in groundworks. The last bit goes quickly.

[pughman] 20/2/2024 18:59

MT, I've been thinking that with every monthly video they put up. Let's see how long that remaining 7% takes.

[nigelpm] 20/2/2024 18:54

Not that it would make a huge difference but video will have been shot before 93%.

[fardels bear] 20/2/2024 17:26

Been raining there too.

[mount teide] 20/2/2024 17:26

Thanks sea7

'The Akatara development project is currently 93% complete. Approximately 1,850 workers are currently on site.

First gas and final acceptance of the Akatara Gas Processing Facility remains on schedule for the second quarter of 2024.'......31st Jan Trading Update

Having overseen a number of ship newbuilding and conversion projects, and port extension projects, have to say, none looked like the unfinished building site appearance of the Akatara development project when they were at 93% completion.

Would welcome comments from any O&G or civil engineering industry professionals here with first hand experience of delivering such or similar projects who could offer a professional opinion on the 93% completion claim for Akatara?

[sea7] 20/2/2024 17:03

Jan akatara video is up

[mount teide] 20/2/2024 14:58

JSE would have been far from alone in declining to pursue any further interest in the Thai assets - there was considerable doubt as to how much further commercial life the assets had left before some very hefty decommissioning liabilities kicked in. The VLE management took a punt and have been proved spectacularly right/very lucky!

[tom111] 20/2/2024 14:42

Thanks for that last bit,i needed that MT lol

[mount teide] 20/2/2024 14:09

O/T - tom111 - it was - when a microcap they bought in 2023 a producing Thai asset for $10m that has since proved an incredible bargain on every valuation metric.

"Net Cash position of US$150.9 million(1) as of December 31, 2023, versus a Net Cash position of US$5.0 million at December 31, 2022."

Broker Auctus is forecasting net cash of $530m in 2016.....some performance if met, as VLE would have generated over half a $billion of net cash improvement in 4 years from a position where they barely had two pennies to rub together!

Auctus have increased their price target from $6.40 to $8.50.

‘Valuation: We have increased our production forecast to >20 mbbl/d in 2026 and to
>17 mbbl/d in 2027. We have increased our Core NAV and ReNAV from respectively C$5.55/sh and C$6.34/sh to C$7.50/sh and C$8.50/sh.

Assuming US$70/bbl for Brent in 2026, our YE26 net cash forecast is now
US$530 mm (US$410 mm previously) while YE24 net cash is unchanged.'

Understand Jadestone looked at the Thai asset prior to the Valeura team.

[tom111] 20/2/2024 13:22

12th March 11 percent thanks for posting

[11_percent] 20/2/2024 12:58

2 March Jadestone, Barings Emerging EMEA, Polar Cap Financials, Ecora, JPM Global Core Real Assets