Jadestone Energy Share Discussion Threads

[yasx] 26/4/2024 07:56

Nigel,

You know only too well that that is not how every reader interpreted the announcement - it was a clear indication that it was to be conveyed comfortably prior to the results or there was no need to mention it.

He seems to be all over the place. Just look at the Montara communications and how he handled that aspect.

I hope I am wrong but there may be a problem or two announced on Monday. It would be uncharacteristic of PB not to. Over the past 18 months he has delivered very poor performance and plenty of excuses. It needs to change and hopefully Monday has no adverse surprises.

[nigelpm] 26/4/2024 07:54

Very good point about the Akatara update though Yas.

I would "expect" (to use that word again) to hear more on Monday.

[fardels bear] 26/4/2024 07:52

They are quite good at lunchtime RNS releases. And that reopening one came at 10.30am or thereabouts.

[nigelpm] 26/4/2024 07:46

Nothing is a certainty - but when you tell your shareholders to expect something prior to a specific date (when clearly there was no need to) and then faik to meet that expectation it shows poor judgement.

There's technically still until Monday. "Before" could be Sunday at 9pm.

[nigelpm] 26/4/2024 07:45

That's not my reading - the RBL is being utilised to :

"The RBL facility will first be used to repay the US$50 million Interim Facility, which will be fully drawn on 22 May 2023. The RBL facility will also fund the Company's operations and capital investment program, particularly the Akatara gas project onshore Indonesia, and can be also used for general corporate purposes."

It is almost certain that they are not using future revenues from Akatara for redetermination processes.

[pughman] 26/4/2024 07:39

Nigel,from my reading of the 19.5.23 RNS, a delay at Akatara would affect the RBL redetermination. The RBL was signed before the emergency financing, so I'd expect the banks to be all over this, and by now aware of all the Blakeley flannel.

[yasx] 26/4/2024 07:25

Nigel,

Nothing is a certainty - but when you tell your shareholders to expect something prior to a specific date (when clearly there was no need to) and then faik to meet that expectation it shows poor judgement. Moreover, it appears to be an egregious pattern since the 45p raise. It almost seems as though PB is deliberately trying to render this a Co. in which no sane investor shoukd invesr.

It is the same witg Akatara - updates every few weeks about incremental progress to the extent he was indicating progress in percentage terms. He gets to 93pc months ago then complete silence; is the inference to be drawn that the remaining 7pc has proven difficult? I have no idea byt PB us encouraging unnecessary speculation. Once is a mustake, but repetition is sheer carelessness.

It is no wondee this is making no progress despite the rising price of oul. To think PB though he was capable of orchestrating and handling the proposed RTO made me shudder. Woodside surely did us a favour since that represented an existential threat.

PB needs to stop focusing on additional acquisitions and start sorting iut the existing asset base.

[ashkv] 26/4/2024 07:19

FACT? Not so!! In this business such statements are not expectations but assurances!!!

Akin to a team member outlining to the boss that a report for a crucial meeting will be ready at the deadline and the "fact" that it is not so should in "fact" lead to serious consequences for the team member / diminish their credibility!!!

It is a fact that the JSE CFO hasn't come through for shareholders / investors - be it hedging, RBL etc etc it has been one blunder after another!!!

[nigelpm] 26/4/2024 07:12

It's not a defence. Just staying the facts.

[nigelpm] 26/4/2024 07:07

No pughman. Akatara isn't part of the base for the rbl currently. See RNS from early April.

[ashkv] 26/4/2024 07:07

Just having fun :)

[tom111] 26/4/2024 07:05

Off to a good start this morning ash lol Anyway nice to see oil hovering around $90 again

[ashkv] 26/4/2024 07:01

Or rather expecting you have a brain doesn't mean you have one :)
haha

nigelpm26 Apr '24 - 07:47 - 21448 of 21449
0 0 0
Expect doesn't mean it will.. worth reading the RNS wording before jumping to all sorts of lunatic conclusions

[ashkv] 26/4/2024 06:58

The pugnacious and pompous AIM firm PR spouting his drivel yet again - amazing how this AIM chat board infester springs to rhe instant defense of certain select AIM firm managements...

haha - AIM famous nobody in reality...prattle on Sir Pugny!!!

nigelpm26 Apr '24 - 07:47 - 21448 of 21448
0 0 0
Expect doesn't mean it will.. worth reading the RNS wording before jumping to all sorts of lunatic conclusions

[nigelpm] 26/4/2024 06:47

Expect doesn't mean it will.. worth reading the RNS wording before jumping to all sorts of lunatic conclusions

[ashkv] 26/4/2024 06:23

Hopefully the RBL RNS arrives today - as otherwise the CFO is only confirming his dubious credentials / capabilities - in which case rather than a COO it would appear a competent CFO is a more pressing addition to JSE's helm!!!



Restoration of Trading on AIM

11 April 2024 - Singapore: Jadestone Energy plc (the "Company"), an independent upstream company focused on the Asia-Pacific region, discloses that, further to the announcement of 13 February 2024, it has been advised by Woodside Energy Group Ltd. ("Woodside") that Woodside is cancelling the sale of its participating interests in the Macedon and Greater Pyrenees Projects offshore Western Australia.

As a result, trading in the Company's ordinary shares is expected to be restored to trading with effect from 10:30 a.m. today.

As previously announced, the Company will publish its full-year 2023 results on Monday 29 April 2024, prior to which the Company expects to announce the outcome of the March 2024 reserves-based loan redetermination.

[pughman] 26/4/2024 06:14

Would a delay at Akatara affect the RBL redetermination.

[nigelpm] 25/4/2024 23:21

They have used the word "expect" but if it doesn't come tomorrow or on Monday some explanation will be required.

[yasx] 25/4/2024 23:02

Sea,

You are wrong I am afraid - read the Rns dated the 11th - RBL to be announced PRIOr to the results. So PB is creating unnecessary uncertainty for no good reason other than sheer incompetence. He handled Montara restoration in the same way. He seems to suffer periodic bouts of amnesia.

[nigelpm] 25/4/2024 21:33

I'd assumed "shortly" would be before results also but does now look like it will either come with results or hopefully shortly after.

[neo26] 25/4/2024 15:02

I love it if it comes tomorrow. :)

[sea7] 25/4/2024 14:50

rns 10th april 2024..

The March 2024 redetermination process, which will set the borrowing base for the six-month period commencing 1 April 2024, is at an advanced stage. Primarily due to the proposed changes to the RBL facility borrowing base assets, namely the de-designation of Stag as a borrowing base asset and the inclusion of the recently acquired 16.67% interest in the CWLH fields, the RBL facility banks require additional time to complete the redetermination. The Company expects to announce the results of this redetermination shortly.

Notice of Full-Year 2023 Results

Jadestone will issue its full-year 2023 consolidated audited financial results on Monday 29 April 2024.

[yasx] 25/4/2024 14:35

Thought the RBL redetermination was to be announced prior to results.

No point setting expectations then causing uncertainty.

[mount teide] 25/4/2024 13:53

Global oil demand is up over 13 mb/d since the 2020 Covid Low.

Yesterday StanChart put out a Note forecasting global oil demand will continue to pick up strongly in May and June, hitting 103.15 mb/d for the first time in May, and then rising to 103.85 mb/d in June.


Standard Chartered: Global Oil Demand Will Pick Up Strongly In May And June - Oilprice.com today.

'Oil prices have held steady week on week despite a significant inventory build in U.S. crude two weeks ago, which was countered by a draw in U.S. crude stockpiles for the week ending April 19th. Next to this, traders have become less concerned about a potential supply disruption in the Middle East.

The crude inventory build at the middle of the month triggered fears that oil demand could be weakening; however, Standard Chartered estimates that global inventories will increase by only 74,000 bbls/d April, a much smaller build compared with the 2.2 mb/d build in April 2023 and the 1.4 mb/d build in April 2022. StanChart notes that the markets could be more sensitive to this change in trajectory following the strong counter-seasonal inventory draws during the first quarter of 2024.

Even better for the bulls, StanChart has forecast that global oil demand will pick up strongly in May and June, exceeding 103 mb/d for the first time in May (at 103.15 mb/d), With the next key ministerial meeting just six weeks away, concerns about demand and the macroeconomic environment are likely to dominate the meeting. StanChart says we are likely to record a 1.6 mb/d Q3 draw in stocks if there is no increase in OPEC output, compounding the price effect of a H1-2024 draw of 1.1 mb/d.

Recently, the Biden administration passed new sanctions on Iran’s oil sector as part of the $95-billion foreign aid package to Ukraine, Israel and Taiwan. In a move aimed at reducing Iran’s oil trade with China, the broadened sanctions now target Chinese banks that conduct transactions involving Iranian crude and products.

The sanctions now include foreign refineries, vessels, and ports that knowingly process, transfer, or ship crude oil in violation of existing sanctions. The new sanctions could prove significant in disrupting market fundamentals considering that Iran currently produces about 3 million b/d and is expected to increase output by a further 280,000 b/d this year.

StanChart has predicted that whereas the upcoming U.S. presidential election may influence the timing of the next swing down in Iranian exports, Iran’s oil flows are bound to take a hit regardless of who ascends into the Oval Office in 2025. The analysts note that existing U.S. policy instruments were enough to drive Iranian exports down to close to zero in late 2020, before the international context, and the associated implementation policies, changed.

StanChart has argued the Biden administration has room to start implementing the sanctions immediately despite the risk of increased fuel prices during an election year. StanChart notes that the record-high on the day of a U.S. presidential election is $3.492/gal in 2012 (when the incumbent won), equating to about $4.80/gal in 2024 money terms after adjusting for consumer inflation.

That’s $1.14/gal higher than current prices, with the U.S. national gasoline price average at $3.66 per gallon. StanChart says that whereas recent U.S. international oil policy has clearly been designed with a view to moderating oil price effects, it does not mean that the U.S. has necessarily chosen a policy of minimum pressure on Iranian and Russian oil exports.

The commodity experts have predicted global oil inventory draws of 1.53 mb/d in May and 1.69 mb/d in June, tightening physical spreads significantly. StanChart also says that OPEC is unlikely to increase output in the near-term thanks to the stall in the oil price rally despite having room for at least 1 mb/d of extra OPEC output in Q3 without increasing inventories.

With the next key ministerial meeting just six weeks away, concerns about demand and the macroeconomic environment are likely to dominate the meeting. StanChart says we are likely to record a 1.6 mb/d Q3 draw in stocks if there is no increase in OPEC output, compounding the price effect of a H1-2024 draw of 1.1 mb/d.

Recently, the Biden administration passed new sanctions on Iran’s oil sector as part of the $95-billion foreign aid package to Ukraine, Israel and Taiwan. In a move aimed at reducing Iran’s oil trade with China, the broadened sanctions now target Chinese banks that conduct transactions involving Iranian crude and products.

The sanctions now include foreign refineries, vessels, and ports that knowingly process, transfer, or ship crude oil in violation of existing sanctions. The new sanctions could prove significant in disrupting market fundamentals considering that Iran currently produces about 3 million b/d and is expected to increase output by a further 280,000 b/d this year.

StanChart has predicted that whereas the upcoming U.S. presidential election may influence the timing of the next swing down in Iranian exports, Iran’s oil flows are bound to take a hit regardless of who ascends into the Oval Office in 2025.

The analysts note that existing U.S. policy instruments were enough to drive Iranian exports down to close to zero in late 2020, before the international context, and the associated implementation policies, changed. StanChart has argued the Biden administration has room to start implementing the sanctions immediately despite the risk of increased fuel prices during an election year.

StanChart notes that the record-high on the day of a U.S. presidential election is $3.492/gal in 2012 (when the incumbent won), equating to about $4.80/gal in 2024 money terms after adjusting for consumer inflation. That’s $1.14/gal higher than current prices, with the U.S. national gasoline price average at $3.66 per gallon.

StanChart says that whereas recent U.S. international oil policy has clearly been designed with a view to moderating oil price effects, it does not mean that the U.S. has necessarily chosen a policy of minimum pressure on Iranian and Russian oil exports.'

[sea7] 25/4/2024 13:31

published a week ago re akatara...



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