Jadestone Energy Share Discussion Threads

[yasx] 04/6/2024 08:08

Any delay (given what has happened over the past year) would be inexcusable especially since for months PB has been reaffirming the q2 timeline.

[upwego] 04/6/2024 06:18

Lets hope production start up Ankatara is on time this month - now that would be nice!

[mrscruff] 03/6/2024 18:01

I know most of you favour oil 🛢️

But oil today down significantly while natural gas is up by the same percentage. I love a barbell inside a stock. When we are dead and gone gas will continue.

[chessman2] 03/6/2024 17:45

Excellent comment Pugh but I like to think PB already knows and will soon put us out of our misery!!

[pughman] 03/6/2024 15:55

Thanks for letting us know. Have you told Blakeley yet?

[neo26] 03/6/2024 11:04

This is the month...

[sea7] 31/5/2024 14:38

drilling development plan for skua 11 submitted to nopsema 9th May 24



attached EP Plan states..

Skua-11 ST1 Well Drilling Environment Plan




The existing Skua-11 subsea production well consists of primary and secondary barriers to maintain the integrity of the well. Issues with the production casing, a secondary barrier were identified in 2020 and the well was worked over in 2021. A casing patch was installed at approximately 145 m below the seabed to restore the integrity of the casing. In late 2023 a loss of pressure in the gas lift system indicated a further failure in the production casing. While the integrity of the primary barrier remains intact, activities are required to restore the integrity of the secondary barrier.

Activities will be undertaken to restore the integrity of the secondary barrier for the Skua-11 well, and to allow additional access to the Skua reservoir, via a side track of the existing Skua-11 well (termed Skua11 ST1). An overview of the activities required under this plan include the following;

 Re-entry of the existing Skua-11 well
 Isolation of the reservoir at Skua-11 with two barriers
 Retrieval of the upper completion tubing
 Permanently abandon the reservoir
 Recover the subsea Xmas Tree
 Cut and retrieve 9 5/8” casing (production casing)
 Cut and retrieve 13 3/8” casing (surface casing)
 Side track below the existing 30” conductor
 Drill surface hole section to 13 3/8” casing point and run surface casing to approximately 1,700 m MD
 Install high pressure riser and BOP
 Drill intermediate hole section to 9 5/8” casing point and run production casing to approximately 2,900 m MD
 Drill 8 ½” to well total depth (TD) at approximately 4,900 m MD
 Install sand screens
 Displace well to completion brine
 Suspend well recover high pressure riser and BOP
 Install the subsea Xmas Tree
 Run upper completion


The Skua-11 ST1 well activities are scheduled to commence between Q4 of 2024 and Q2 2025 subject to MODU availability, Regulator acceptance and long lead equipment arrival. Operations are likely to last for a period of approximately 72 days in total, however timings are subject to weather and operational efficiency. Therefore, this EP validity period is from November 2024 to November 2025. Once accepted, Jadestone Energy will be permitted to undertake the activities at any time during this period.

[mount teide] 31/5/2024 13:58

Well, well - new study says a sudden and significant increase in global warming this decade is the UNEXPECTED consequence of REDUCING shipping emissions following the implementation of the IMO's low sulphur fuel regulations for shipping in 2020! This regulation resulted in Stag's low sulphur crude increasing in value by circa $20/bbl overnight, as it could meet the rules without the need for being refined, or through blending with lighter crudes.


Unexpected Global Warming Spike Due to Abrupt Reduction in Shipping Emissions, Study Finds - GCaptain 30th May 2024



'A new study has highlighted an unexpected consequence of reduced shipping emissions: a sudden and significant increase in global warming.

Human activities have long influenced the Earth’s climate, primarily through altering the atmospheric composition. This change generates what is known as “radiative forcing,” referring to the change in energy within the Earth’s atmosphere due to factors like greenhouse gases, which can affect climate change.

The warming impact of human-produced greenhouse gases has been somewhat counterbalanced by the cooling effect of human-made aerosols. However, in 2020, the International Maritime Organization’s low sulphur fuel regulations reduced the maximum sulfur content of bunker fuel burned by the global fleet of ships from 3.5% to 0.5% to benefit public health, leading to an abrupt 80% reduction in sulfur dioxide emissions from international shipping.

This unexpected change has resulted in what researchers describe as an ‘inadvertent geoengineering termination shock’ with a global impact. The sudden decrease can temporarily accelerate global warming by dimming clouds across the global oceans.

Scientists estimate that the regulation has led to a significant increase in radiative forcing across the world’s oceans. The study warns this increase could potentially double, or even triple, the warming rate in the 2020s compared to the rate since 1980.

The warming effect aligns with the recent observed temperature rise in 2023 and is projected to make the 2020s exceptionally warm. The radiative forcing is equivalent to 80% of the measured increase in planetary heat uptake since 2020, creating a strong hemispheric contrast with important implications for changing precipitation patterns, according to the study.

The study suggests that marine cloud brightening, where marine low clouds are seeded with aerosols to become brighter, temporarily cooling the climate, may be a viable geo-engineering solution. Of course, this comes with its own unique challenges.

The study, titled Abrupt reduction in shipping emission as an inadvertent geo-engineering termination shock produces substantial radiative warming, can be found in Communications Earth & Environment.'

[neo26] 31/5/2024 08:44

Tomorrow is june, the fun begins..

[yasx] 31/5/2024 08:03

Only a few weeks to go at most before gas sales from Akatara - shares should start rising in anticipation of that.

[sea7] 28/5/2024 10:35

Congratulations to

@JadestoneEnergy

's KL team for winning a Silver award in the Project Delivery Excellence category at last week’s Malaysia Upstream Awards 2024. The award recognised the very successful East Belumut drilling campaign in late-2023. $JSE #JSE #Jadestone

[neo26] 28/5/2024 10:27

Looks like ther was an overhang..Onwards and upwards..

[fireplace22] 26/5/2024 18:31

Three, four years ago the base load for our electricity was destined to be nuclear, particularly the small reactors developed by Rolls Royce, said at the time could be up and running within 10 years, how's progress or is that yet another failed ambition of our rapidly degenerating nation?

[mount teide] 26/5/2024 16:38

tim000 - Exactly - Ed Miliband has been a Labour MP for 19 years, yet according to the manager of his local Working Men's club located just 100yds down the road from his Constituency office, Ed has never set foot in the place, never mind have a beer and a chat with the members.

[tim000] 26/5/2024 16:38

It should be obvious even to morons like Miliband that, in the absence of highly efficient energy storage systems (a pipe dream), a modern economy dependent on renewable energy only works with near-100% backup capacity of fossil fuels. So more than twice the cost of energy infrastructure utilised by our international competitors - ie those churning out the majority of the world’s carbon emissions.

[mount teide] 26/5/2024 16:27

No prizes for who is paying the huge cost of moving to zero carbon energy by 2030, while the development of renewable energy technology is still in its infancy and extremely expensive compared to fossil fuels!

Household electricity prices worldwide in September 2023

$US per kilowatt-hour - Country - Main Source of Electricity
0.44 - UK - Renewables
0.40 - Germany - Renewables
0.28 - Australia - Coal & Renewable
0.22 - Japan - Nat Gas & Coal
0.18 - South Africa - Coal
0.17 - US - Coal & Gas
0.12 - Mexico - Nat Gas
0.11 - Norway - Hydro
0.08 - China - Coal
0.08 - India - Coal
0.06 - Russia - Coal & Nuclear
0.05 - Turkey - Coal & Gas
0.05 - Saudia Arabia - Nat Gas and Oil
0.03 - Qatar - Nat gas & Oil

Source: Statista

[tim000] 26/5/2024 16:05

Intelligent people tend to be cognisant of their own limitations wrt knowledge of subjects they know nothing about. That’s particularly true of the “hard sciences”, which are intellectually challenging and hence rarely studied by the political classes. Unfortunately, this generalisation never applies to lefty politicians, who are hardwired towards authoritarian control of society - notwithstanding their renowned cluelessness. Does Miliband ever look in the mirror and consider self analysis?

[fireplace22] 26/5/2024 15:10

When we are bankrupted Miliband can fly out to China and convince them of his cunning plan?

[fireplace22] 26/5/2024 15:06

Things can only get ........


The Guardian

“If every country in the world adopted Labour’s position [on deciding not to issue new oil and gas licences] it would have a transformative effect on the debate,” he said.

Miliband said the party’s plans to ban new oil and gas licences are “the most progressive position of any major country in the world” but that the transition in the North Sea has to be properly managed to protect those working in existing fields.

Miliband said Labour plans to “follow the science” when it comes to climate policies, should it come into power. If Labour wins, he said the UK would “be the first major country in the world to commit to having all of our power coming from zero-carbon energy services by 2030, which is a massive commitment and requires massive change”.

[mount teide] 26/5/2024 11:57

As predicted by many here, the legalised theft more commonly known as the UK O&G Windfall Tax regime, which applies to exploration for, and production of, oil and gas in the UK and on the UK Continental Shelf:

Ring Fence Corporation Tax (30%)
Supplementary Charge (10%)
Energy Profits Levy (35%)

has been a total disaster for O&G companies(and shareholders) that have most of their assets located within the scope of the UK Windfall Tax regime.

Shareprice performance since announcement of UK O&G Windfall Tax in May 2022:

+880% - Valeura Energy (SE Asia)
+275% - Afentra (West Africa)
+25% - Arrow Exp (S America)
+24% - Petrotal (S America)

-39% - Serica Energy (UKCS)
-58% - Enquest (UKCS)
-67% - Jadestone Energy (SE Asia)
-68% - Kistos (Entered UKCS in July 2022)


Shareprice performance since Q4/2021 London IPO of Arrow Exploration:

+1,075% - Valeura Energy (SE Asia)
+301% - Afentra (West Africa)
+228% - Arrow Exp (S America)
+105% - Petrotal (S America)

-24% - Serica Energy (UKCS)
-38% - Enquest (UKCS)
-57% - Jadestone Energy (SE Asia)
-61% - Kistos (Entered UKCS in July 2022)

AIMHO/DYOR

Not satisfied with the current Government's ruinous 75% tax take from the UKCS O&G industry, an incoming Labour Government has said it plans to introduce 'a proper Windfall Tax' on taking office!

Robin Allan, chairman of the independent explorers' association Brindex, recently said the industry is: "close to collapse, as almost no new projects in the North Sea are profitable with oil below $60 a barrel. It's almost impossible to make money at these oil prices"......."In terms of new investments - there will be none, everyone is retreating, people are being laid off at most companies. Budgets for 2025 are being cut by everyone".

[mount teide] 26/5/2024 11:55

UK's Labour reaffirms plan for higher North Sea oil, gas tax ahead of vote - S&P Global - 22 May 2024

'The UK Labour Party on the cusp of national elections reaffirmed plans to increase the Energy Profits Levy on North Sea oil and gas producers while removing tax breaks, with shadow chancellor Rachel Reeves saying renewables had a "really bright future" and would increase energy security.

The comments at London's Chatham House on May 22 came as the incumbent Conservative government called a general election for July 4, with opinion polls suggesting Labour are positioned for victory. It comes as multiple companies have reduced activity and investment, citing fiscal instability and exorbitant tax rates, with some specifically pinpointing Labour's plans.
Reeves took aim at previous Conservative governments for allowing reductions in gas storage capacity, which are now being partially reinstated by utility Centrica.

The UK still derives 74% of its energy needs from oil and gas, according to industry group Offshore Energies UK.

Current Chancellor of the Exchequer Jeremy Hunt said March 6 the government was extending the 35% Energy Profits Levy to 2029 from the previous cutoff in 2028.

Reeves, whose party was instrumental in pushing the Conservatives to bring in the EPL in 2022, said the levy would have a lifetime "no longer than the next parliament," albeit at a higher rate than presently. She added that greater use of renewables could be disinflationary thanks to technology advances.

Labour envisages "doubling down on the investment that we need to see in home-grown renewables so we are less at the mercy of those global markets for oil and gas," Reeves said. "This is about diversification, and it's about seeing what more we can do at home -- we've got huge potential ... to be producing more home-grown energy. This isn't just about meeting our climate obligations, it's also about ensuring that we are more secure as a country, and in turn bringing down energy bills."

Comparable to Norway's rate
On the EPL, which lifted the headline tax rate on upstream oil and gas to 75%, Reeves said her proposal for a further hike to an overall rate of 78% would be comparable with Norway. Critics of Labour's plans note Norway has a long record of tax stability, staged tax allowances for investment and generous tax breaks for exploration.

"We're going to need North Sea oil and gas for many decades still to come," Reeves said. "We will honor all the existing licenses for oil and gas, but we won't be granting new ones."

"We would extend [the Energy Profits Levy], we would increase the rate to 78%, as is the rate in Norway, and we would get rid of the investment allowances," she said. "We see some companies paying very little of the EPL at all. But that would be a time-limited extension of the windfall tax, it would last no longer than the next parliament."

Reeves' comment about some companies paying little of the EPL refers to companies using past investments to offset potential tax liabilities, which because of the size of project spending can provide a significant cushion.

Reeves said that her party had been "really clear" with the industry and the industry continued to invest, adding, "We see a really bright future for the North Sea because of the huge potential in some of the low carbon industries of the future."

The comments come as the UK gears up for a potential change of government after more than 14 years of Conservative-led government.

Numerous oil and gas operators have criticized the UK tax regime, with companies such as TotalEnergies saying it is scaling back normally routine drilling operations and others holding off approving new projects.

UK oil output decline accelerated to 12% in 2023, with average output falling to 716,000 b/d. UK oil output is now down by more than a third since 2019.

The industry argues the sky-high price spikes in gas that might have justified windfall taxes on the sector are far in the past, with gas prices back to levels seen before Russia's invasion of Ukraine, and oil markets well supplied going into the summer. The Platts Dated Brent benchmark was assessed at $81.50/b May 21, down 83 cents on the day. Platts is part of S&P Global Commodity Insights.

Reeves, however, insisted more investment could be attracted in renewables through reforms to the planning system, for example to facilitate offshore wind farm construction.

"We need in the UK ... to address some of the structural issues that are holding back investment," she said. "If you say to companies who are looking at doing floating offshore wind or carbon capture, or building a new giga-factory, or in other industries ... they're not saying to us, give us a huge subsidy and we will do this, they're saying reform your planning system."'

Lol - Ms Reeves, Roy Chubby Brown would pay good money for material like that!

[sea7] 24/5/2024 12:00

job advertised at akatara....Dated 24th May



extract of responsibilities..


3. Delivering safe, reliable and cost-efficient production at the highest of industry standards, and consistent business growth to achieve best value for shareholders.

4. Overseeing the opening or closing of facilities and the operational aspects of mergers and acquisitions (if any) so that these activities are completed on time and within budget and with minimal disruption to the organisation's day-to-day operations.