Jadestone Energy Share Discussion Threads

[pughman] 12/3/2024 22:53

Blakeley stopped giving detailed info on FPSO repairs a long time ago. 7 months to fix a tank wall, probably will need to extend the tanker charter. No Q&A, the nightmare continues for shareholders.

[pogue] 12/3/2024 22:42

MT PB threw loads of numbers about even 6 months he didn't know at all. Then again they may pull out so could be long before that.

[mount teide] 12/3/2024 22:40

Thanks Pogue - 'They are still running the numbers on the idea of bidding it should be noted there is no guarantee they will bid. The leak was very early in the process.'

Considering that Woodside appointed Morgan Stanley back in August 2023 to run the bid process(according to O&G industry journals), if the leak is very early in the bid process, to the extent that JSE are still running the numbers on the idea of bidding, we could at this rate of progress remain suspended until well into summer!

[king suarez] 12/3/2024 22:28

Thanks, pogue :)

[sea7] 12/3/2024 22:21

Thanks pogue

[pogue] 12/3/2024 22:20

No he had one other JSE employee plus a part time one who were there to answer questions and make sure PB did not say anything he shouldn't. He consulted with them before answering some questions.

[nigelpm] 12/3/2024 22:17

Thanks Pogue. Really helpful.

Great news on tanks and Akatara already in commissioning phase.

Out of interest was it just PB from JSE there?

[pogue] 12/3/2024 22:10

One more but decom costs at Woodside around A$350 million.
90% of this I got face to face as there was no Q&A after presentation as he over ran.

[pogue] 12/3/2024 22:05

As soon as the information got out on the reverse takeover the rules are that the company must suspend the share price. Simple as that I am afraid.
They are still running the numbers on the idea of bidding it should be noted there is no guarantee they will bid. The leak was very early in the process.
The damage to Montara was done during the conversion in Singapore. Looks like a scaffold pole was dropped down the hatch and damaged the tank wall which was never found by any inspection since. Should be fixed end Sept maybe earlier maybe end off year. Clearly not wanting to commit for fear of being held to it.
One of the tanks is coming back online tomorrow, no RNS, this will mean the tanker will be able to take a bigger load each time.
Could not get any line on when the bidding process will finish i got the impression they did not know either.
The sale date will be backdated so some production will be included. I asked if that was August but was told that there will be a date.
Aktara is being commissioned right now expected first gas Q2.
I strongly suggested more shareholder interaction and that was already being planned. Online and face to face I suggested a pub night for shareholders and it was not rejected. Thank me later.
Fund raise to fund purchase is unlikely to be by dilution it is something they have been advised not to consider or want to by the sound of it.

[nigelpm] 12/3/2024 21:45

Question - Trading Suspension - on re-reading this RNS, why didn't Jadestone Energy remain trading until Woodside announced who, if any, of the interested companies, they had selected as preferred bidder.

My sense was:

There was a leak clearly as it appeared in "The Australian".

As soon as that occurred you don't have a lot of choice given the materiality of the potential deal.

[tom111] 12/3/2024 21:42

That has been thoughts from day 1 imo there was no reason what so ever to suspend trading until such time we were nominated.I did mention that and was shot down lol

[mount teide] 12/3/2024 21:23

Jadestone: '......confirms that it is a participant in the bid process being managed by Morgan Stanley on behalf of Woodside Energy Group Ltd, in respect of the proposed sale by Woodside of its participating interests in the Macedon and Greater Pyrenees Projects.

The Proposed Acquisition would include Woodside's interests in the Macedon producing gas field and a cluster of producing oil fields collectively known at the Pyrenees Area. For reference, Woodside's net working interest production from the Macedon field and Pyrenees Area in the second half of 2023 averaged c.28,000 boe/d.

Were Jadestone to be selected as the preferred bidder and reach agreement with Woodside on acquisition terms, the Proposed Acquisition would be classified as a reverse takeover transaction in accordance with AIM Rule 14, and accordingly, the Company's ordinary shares will be suspended from trading on AIM with immediate effect and will remain so pending publication of an AIM admission document setting out, inter alia, details of the Proposed Acquisition, or confirmation is provided that the discussions for the Proposed Acquisition have been terminated.'

Question - Trading Suspension - on re-reading this RNS, why didn't Jadestone Energy remain trading until Woodside announced who, if any, of the interested companies, they had selected as preferred bidder.

[mount teide] 12/3/2024 21:07

npm - yes - Thanks for pointing out the mistake - have amended the post accordingly.

[nigelpm] 12/3/2024 20:47

You mean Macedon and GPP from Woodside?

[mount teide] 12/3/2024 19:52

Woodside's Macedon and GPP assets - poster on the twitter group claiming the effective date of any deal would be August 2023.

8 months and counting of accrued benefit from production of 29,000 boepd.

[pogue] 12/3/2024 18:45

For the bid?

[molatovkid] 12/3/2024 18:24

Timescales!

[pogue] 12/3/2024 18:16

Anything u want to ask? I am at the presentation JSE are on last.

[paduardo] 12/3/2024 12:17

Hi is anyone going this evening to the event? If so would they mind posting a quick summary afterwards?

[nigelpm] 08/3/2024 09:21

I'd say it will be hugely distracting but worthwhile even if it doesn't go ahead. Lots of data/opportunity.

[nigelpm] 08/3/2024 09:20

Agreed Dunder - lots of considerations and price whilst a key one is not always the driver.

[dunderheed] 08/3/2024 09:18

I'd imagine they could all be structured differently and even if each similar in terms of structure this will have different fiscal parameters and timings set which will drive the ultimate NPV of project for disposer and even then, there will be other operational items to consider that finally determine the best fit for a deal, before all the political preferences as well of course.
I just hope that this isn't too distracting for a team that appears to have a lot on its current plate anyway?
IMHO.

[tom111] 08/3/2024 09:11

At the end of the day it comes down to the highest bidder that obviously hasnt been reached yet theres only one agreement thats the highest one.

[nigelpm] 08/3/2024 08:58

Not necessarily - time is more a question of getting all parties to agree to an agreement - it's a very complex process.

[tom111] 08/3/2024 08:37

The longer the delay the more likely the bids will get higher is my take,after all this is an auction for all intent and purposes