Jadestone Energy Share Discussion Threads

[sea7] 24/2/2024 10:40

further from the document...

The Macedon Field has been on production since August 2013 with only one full shutdown during that period (late 2017). Despite occasional problems with communications/control problems with some of the subsea wells, overall system availability has exceeded 98%.

Macedon D&R activities are planned to commence two years prior to end of field life and be carried out over a 9-year period. This is realistic, typical of current industry D&R planning, and accepted by GaffneyCline.
....

pyrenees - Since first oil in 2010, the FPSO has been regularly dry docked in 2014 and 2019, with the next scheduled dry docking expected in 2024, assuming a 5-year scheduled interval. Field production is constrained by the FPSO water handling limit, currently approximately 148 Mbwpd.

The Pyrenees development has been in production since February 2010, with 5-yearly planned dry docking for FPSO inspection and refurbishment. The subsea system has experienced problems with communications failures. At an overall system level, the Operator tracks “defermentR21;, that is, the oil production delayed because of unplanned facilities outages. Over the last three and a half years, deferment has averaged 937 bopd, or some 5.5%. This is consistent with the Operator’s planned uptime for production forecasting. The primary cause of deferment is recorded as “weather”;, i.e. precautionary cyclone shutdowns.

Pyrenees D&R activities are planned to commence two years prior to end of field life and be carried out over a 9-year period. This is realistic, typical of current industry D&R planning, and accepted by GaffneyCline.

[the_gold_mine] 24/2/2024 10:29

Fantastic post Sea7, cheers

[sea7] 24/2/2024 10:22

document dated April 2022

in the merger of woodside/BHP, KPMG had macedon and pyrenees valued at (PAGE 133)

macedon - low $308m - high $315m
pyrenees -low $321m - high $323m

Macedon (PAGE 143)

Production of domgas takes place over the period 2022 to 2032, with aggregate forecast sales of 53 MMboe, comprising a mix of contracted volumes and uncontracted volumes. Annual production of domgas follows a steady decline in year-on-year production volumes over the remaining life of the Macedon fields. Production of oil takes place over the period 2022 to 2032, with annual production steadily declining over the period.

Macedon’s total life of project operating cost is US$223 million and is incurred between 2022 and 2032. Capex for the Macedon project totals US$61 million, the majority of which is incurred between 2022 and 2024, associated with the development of the fields.

The estimated obligation in relation to D&R totals US$377 million, the majority of which is incurred between 2033 and 2035.
...

Pyrenees - (PAGE 144)

Production of oil takes place over the period 2022 to 2036, with aggregate forecast sales of 22 MMbbl. Over the remaining life the Pyrenees project, annual production peaks in 2022 before a steady decline in year-on-year annual production volumes.

Pyrenees’ total life of project Opex is US$584 million, which is incurred between 2022 and 2036. Opex peaks in 2023, before a steady decline in year-on-year Opex over the remaining life of the project.

Capex for the Pyrenees project totals US$63 million, the majority of which is incurred between 2022 and 2023, associated with the expansion of the field.

The estimated D&R obligation totals US$820 million. D&R is incurred between 2034 and 2047 and peaks in 2039 and 2040. D&R activities are planned to commence two years prior to the end of field life.
......

Other figures such as opex and DCF valuations are contained in the document on the same pages.

[1ajm] 23/2/2024 22:59

Don't worry Nigel,

If they pay $500m+ for paired assets because no one wants one of them, with $1bn+ decommissioning liability being sold on the back of poor drill results and $150mn annual cashflow (2023-2027 projection), with a $68m pre-tax impairment for 2023? in a region, using their words, becoming 'tight' I won't be here long. Without the deal including a massive back date.

Hence why people use this board to help share information, but half the posters here are too paranoid about some guy from years ago. You couldn't come up with anything useful I guess.

[1ajm] 23/2/2024 22:13

Who?

Explain why it's non-sense.

You seem to be under some spell that collectively gaining information about an upcoming deal is bad? why?

Thanks.

[nigelpm] 23/2/2024 22:11

oh dear. The hope that Forrest would stop posting nonsense on suspension has been banished into the dust.

Ah well.

[tom111] 23/2/2024 21:22

Dosnt look good on paper but im sure they will do due diligence and with two other companies interested it cant be all that bad,can it.

[1ajm] 23/2/2024 20:38

$1bn Decommissioning liability on Pyrenees?

the 28,000 overall boe/d is 85% gas no?

[tom111] 23/2/2024 20:32

Jonny Gee posted yesterday 1034am on Lse, Article by CAPITAL S&P IQ a full detail of whats at stake,good info

[1ajm] 23/2/2024 19:56

Expected decommissioning liabilities for Macedon and Pyrenees assets?

Not really finding anything specific besides articles on overall pressure on mounting decommissioning liabilities across Woodside portfolio.

Is that and the poorer than expected recent drilling results / $68m Pre tax impairment on future performance the motivation for the sale, just trying to get a picture from the other side to understand the picture more.

Any finds welcome.

[ashkv] 23/2/2024 11:34

More influence for Tyrus with a smaller board!!!

[upwego] 23/2/2024 07:18

I like the bottom snippet.. Confirmation that production is over 20,000bopd still Akatara to come on stream later in the year.

"Jadestone has grown substantially from an operator of a single producing asset in 2017 to a multi-jurisdictional operator producing over 20,000boe/d. As part of Jadestone's ongoing process of Board refreshment, it is time for the Board to benefit from a new set of skills to help Jadestone successfully navigate its next phase of growth, and I would like to welcome Adel Chaouch as an independent non-executive director. He brings great international experience, having led upstream businesses globally, and will provide strong technical insight in support of Board decisions going forward. It is also important to recognise the need to balance the size of the Board while maintaining the appropriate capabilities, and with this appointment the Board will reduce by one."

[dunderheed] 23/2/2024 07:09

Interesting board appointment?

[nigelpm] 22/2/2024 12:32

When you say apparently - it's a fact and was in the recent RNS:

13 February 2024 - Singapore: Jadestone Energy plc ("Jadestone", the "Group" or the "Company") (LSE:JSE), an independent upstream company focused on the Asia-Pacific region, notes recent media speculation and confirms that it is a participant in the bid process being managed by Morgan Stanley on behalf of Woodside Energy Group Ltd. ("Woodside") in respect of the proposed sale by Woodside of its participating interests in the Macedon and Greater Pyrenees Projects offshore Western Australia (the "Proposed Acquisition").

[tom111] 22/2/2024 11:30

Morgan Stanley are running the bids apparently

[dcarn] 22/2/2024 10:36

Personally i'd prefer us to remain suspended until Akatara is fully commissioned, when ever that may be.

[nigelpm] 22/2/2024 10:31

hxxps://www.energyvoice.com/oilandgas/australasia/547699/jadestone-signals-interest-in-transformative-woodside-deal/

The Australian reported two days ago that Carlyle, Hibiscus Energy and Jadestone were the “final contenders” in the sale of Macedon.

[tom111] 22/2/2024 10:23

I can only find JSE mentioned as the likely bidder no one else seems to be mentioned

[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.