Jadestone Energy Share Discussion Threads

[sea7] 23/7/2024 09:36

you will of course note that page 33 actually has jadestone logo on it, which implies jadestone supplied it and indicated 24th July as on spec sales commencing.

[sea7] 23/7/2024 09:32

The above is the project management departments weekly report dated 25th June and posted online last week..

see map on page 2 denoting akatara July 2024

see list on page 10 which shows jadestone akatara expected July 2024 - 1100 bopd/25mmcfsd gas. It also shows as 99.1% completed and coloured yellow - which indicated that the overall progress is <=10% delayed.

see page 12 which indicates that materials are the cause of the slight delay.

see page 15 which talks of a small issue and resolution regarding compressor - which I haven't been able to translate yet.

see page 31 which outlines critical paths, issue/resolution and importantly says - onstream July 2024

see page 33 which specifically states 24 July 2024 on spec sales gas.

[neo26] 23/7/2024 08:21

Come on jse..

[fardels bear] 23/7/2024 07:28

MMs nickel and diming here again, it would seem.

[upwego] 22/7/2024 14:51

Thanks Nigel

Some good buying today for a change.

[bradvert] 22/7/2024 12:59

Thanks for pointing it out. Good to see the full history of presentations etc now appear to be there, rather than the last handful as previously..

[nigelpm] 22/7/2024 09:27

Yes.

I've posed the question on Akatara also - RNS on 13th June said :


Also as recently reported, the Akatara Gas Processing Facility is nearing the key milestone of mechanical completion, and the project remains on schedule for first gas later this month and for commercial gas, LPG and condensate sales to follow shortly thereafter.

Shortly thereafter must be starting to become overdue.

[yasx] 22/7/2024 07:20

Sounds rather reassuring Nigel.

[nigelpm] 22/7/2024 07:15

I reached out to the company through IR to understand what is going on with the industrial action and have been given permission to republish as below:

From 20 July, employees working for UGL/Innovative Asset Solutions Pty Ltd. (IAS/UGL), who are contracted to perform maintenance activities on the Stag and Montara platforms, plan to take industrial action over a period of two weeks.

The industrial action relates to a dispute between IAS/UGL and its employees – Jadestone is not involved.

We understand that negotiations between IAS/UGL and its employees are ongoing and it is possible that this dispute can be resolved. If there were to be a resolution, then industrial action can be stopped at any point.

A total of 12 employees from IAS/UGL are currently working across the Stag and Montara facilities (six at each of them). As the IAS/UGL contractors are focused on maintenance activities, Jadestone does not expect any impact on Montara and Stag production operations from this industrial action.

[sea7] 21/7/2024 09:26

looks like the industrial action is confined to the following number of employees...I see the site thinks woodside operate montara, but never mind..



published yesterday

Western Australian offshore gas platform workers strike for new work agreement

Twenty-five maintenance workers on three offshore natural gas processing platforms in Western Australia began protected industrial action on July 13, in their dispute for a new enterprise agreement. Workers voted unanimously on July 11 to take protected industrial action that could include nine separate work bans and work stoppages of between 30 minutes and 24 hours.

UGL-AIS employs the workers to operate and maintain Woodside’s Montara and Pyrenees floating natural gas platforms, and Jadestone’s Stag offshore platform. They are covered by the Offshore Alliance (OA), which includes Australian Workers Union and the Maritime Union of Australia members.

The OA accused UGL-AIS of attempting to shift workers off a union-negotiated agreement onto its Baseline Maintenance Agreement, with conditions below industry standards. Workers have twice voted unanimously to reject the company’s proposed agreement.

[sea7] 21/7/2024 09:12

I see that they have refreshed the website with a new look...

the indonesia page is fully refreshed and does state the following..

Jadestone is in the final stages of negotiating a second gas sales agreement for an incremental 3 bscf of gas sales to be sold at a premium to the existing GSA.

[upwego] 20/7/2024 04:52

we sould do with some really good news here to bounce of this 30p range.

Here`s hoping :)

[fireplace22] 18/7/2024 11:26

It is a thought going through M and S operators though, I'd prefer that done and dusted first.

[winnet] 18/7/2024 11:16

It would be unthinkable that there would be a break to downside from this pennant. Hence, I have averaged further down.

[fireplace22] 18/7/2024 10:37

Not to mention Montara/Stag to get their industrial relations problem sorted (by the 20 th wasn't it?)

[puzzler2] 18/7/2024 10:29

Agreed Croasdalelfc - we just need an RNS confirming that all is going well, particularly Akatara, to shake off the negative perception of this company.

[croasdalelfc] 18/7/2024 09:46

Classic pennant chart - waiting to break to the upside on 29th

[sea7] 17/7/2024 08:31

a good article...



Though China is also undertaking a vast expansion of renewable energy, it is doing so by underwriting its grid’s basic security through the use of coal. In the Chinese version of securonomics, Beijing is making sure it has new sources of energy ready to go before switching off the old supply, and Britain would do well to match this outbreak of common sense

FROM THE COMMENTS SECTION AT THE END OF THE ARTICLE...


Prashant Kotak
3 days ago

The first consequence of rolling back on north sea oil is to add towards guaranteeing a high inflation/high interest rate environment for the foreseeable (yet another brick in that wall). A knock-on of that is, high interest payments on existing government debt for the foreseeable, and a precarious dependence on the markets who buy that debt, who will then de-facto dictate the terms of UK economic policy. And, as the Covid years demonstrated, those markets are capricious, essentially fashion and sentiment driven: governments world-wide borrowed whatever the hell they liked with no immediate consequences, but the minute Truss/Kwateng tried to alter the course of the UK economy, there was a run on the economy and they were brought to heel. Labour may not think so, but they are equally vulnerable to this capriciousness – they have no idea when (or why) their ideas will fall out of fashion and the markets turn on them.

[jacks13] 17/7/2024 07:36

From a search of previous RNSs it's the first notification they've received from River Global Investors, as far as I can see.

[ashkv] 17/7/2024 06:50

Isn't the below holding static from prior?

[mount teide] 16/7/2024 12:55

BP - How the mighty have fallen!

BP - 'Six months since BP appointed a new CEO with the promise of "growing the value", its market cap has slumped to a 2-year low of circa £75 billion. BP is a shadow of the mighty oil behemoth it once was -- and living on borrowed time.'.......Javier Blas - Bloomberg

Pivoting to renewables before the technology had been developed to generate acceptable commercial returns has proved a huge mistake for BP.

Exxon took a hard nosed view and continued pushing the overwhelming majority of its cash flow into O&G production development. Predictably, this incurred the wrath of the eco loon brigade but, the company has been proved entirely correct to do so:

5 Year Market Cap Low
$143 bn - Exxon
$33 bn - BP

Current Market Cap
$506 bn - Exxon
$74 bn - BP

Inconceivable a decade ago, BP is now of a size where its likely to increasingly become a bolt-on acquisition target for one of the three Majors!

[mount teide] 16/7/2024 12:12

ZeroGCoS - 'It was disappointing not seeing Vietnam mentioned in the guidance for the capex for 2024, not even for studies. It is clear that the negotiations for the gas sales agreement aren’t progressing towards enabling a FID in the short-term.

At least, Jadestone has finally signed the Heads of Agreement for the gas sales of Nam Du and U Minh Gas fields with Petrovietnam Gas Corporation and Vietnam Oil and Gas Group (Petrovietnam). This is an important step and will hopefully be followed by the gas purchase contract. Vietnam is supposed to become the next organic growth project for the company; now, it seems that the company is not pursuing its development at this moment.'

Disagree with ZGCoS with respect to development of the Vietnam assets. As mentioned previously here, the project will require circa $150-200m of upfront investment before first production, even with the supply of a circa $150m converted tanker FPSO being outsourced against a long term charter contract.

Additionally, the project carries very significant execution risk, as most shipyards are now fully booked out to 2026, suggesting that to time the availability of the FPSO to smoothly coincide with the completion of the marine civil engineering production infrastructure work at the field could be highly problematic.

I am relaxed about development of the Vietnam assets staying on the back burner for a year or two longer, unless a spectacular deal can be agreed with the Vietnamese.

Ideally, we should find a partner/s to spread the Vietnam execution risk - and keep spending the cash we are generating on more second phase bolt on acquisitions with immediate FCF generation, as the Vietnam project could well see the need to pump north of $200m of cash into it before a Nickel of FCF is generated.

[mount teide] 16/7/2024 11:44

S7 - tallies with my first hand experience and research.

Not only is the developing world a big place it is home to circa 85% of the world's population, and over the last 15 years has bolted on the entire population of the West as growth.

Developing countries with large, fast growing manufacturing industries and huge, growing populations need enormous amounts of cheap energy - for the next 20 years at least, this means fossil fuels will almost certainly be responsible for delivering the overwhelming majority of their energy needs, until ultra high EROEI(energy return on energy invested) nuclear starts to increasingly take over.

By 2050, I strongly suspect ultra low EROEI wind and solar farms will be little more than cottage industries in terms of the contribution they make to the overall global energy supply.

[sea7] 16/7/2024 11:13

The fact that the developing world is driving the increase in oil and gas demand while the developed world has seen a minor decline in its own demand for these—at the significant expense of deindustrialization&mdash;highlights a contradiction in one of the most popular transition arguments. It states that the transition will ensure abundant and affordable energy for everyone. However, the current state of the world is proof enough this is wishful thinking at best: the facts suggest that energy abundance lies with the energy sources the transition wants to do away with and replace.

and..

Yet this is not how things are moving on. There is that gap between the wealthy developed world, which is getting less wealthy as it directs ever-growing cash flows to the transition, and the poor developing world, which is getting wealthier because it is consuming more and more hydrocarbon energy—and it likes it. That’s how oil and gas will continue to dominate the global energy landscape in the future. The developing world is a big place.