Jadestone Energy Share Discussion Threads

[ashkv] 29/7/2024 07:32

Nothing about the Montara labour/union issues.

JSE should have issued quarterly production breakdowns for each field and provided explanations for over/under production.

Gut feeling is that Middle East is about to light up!!!

And that the worst of JSE is behind us!!!

RNS expected immminently on Akatara start-up, additional customers/increased gas flow, new deals.

By year end 2024 expect news on Vietnam farm-out, Montara tank repair completion and financials back in a net cash position!!!

Any item I am overlooking?

Hope all well with MT - was expecting him to join in with his thoughts :)

[arlington chetwynd talbott] 29/7/2024 07:22

The thing about Jadestone is they always try to walk it in.

[yasx] 29/7/2024 07:14

The problem with Jadestone is that after a couple of years of disastrous updates they seem incapable of meeting let alone exceeding expectations - although only a marginal revision to production guidance, it has a significant impact on sentiment. Expect more churn in the 30’s for a while….

[nigelpm] 29/7/2024 07:05

Disappointing on production guidance. Otherwise a lot to like and akatara gas sales imminent. Potentially a chance to buy on weakness.

[arlington chetwynd talbott] 29/7/2024 07:04

The market gets it.

[pughman] 29/7/2024 06:57

Q1 production was affected by a severe cyclone season in Australia, yet H1 production is even lower. IR told me Q1 PM production was 6100boe/d, which has fallen to 5455boe/d for H1. Another lowering of guidance, another underwhelming JSE RNS.

[sea7] 29/7/2024 06:49

Reads ok to me - a steady as she goes update!

[tim000] 29/7/2024 06:46

Akatara is delayed a week or two. That hardly constitutes a delay of two seasons. Nothing else in the release is of great significance. Steady as she goes would be a fair summary.

[puzzler2] 29/7/2024 06:46

All in all I thought that it read OK. Yes, reduced guidance due to contingencies - but who wouldn't want to be cautious after the events of the last two years? However, Akatara imminent and FPSO repair costs coming to a conclusion this year. That says income increasing and costs reducing, so all on track. i think they've turned the corner.

[arlington chetwynd talbott] 29/7/2024 06:41

It is the classic AIM mixed bag, with summer days postponed until winter.

[aspringo] 29/7/2024 06:36

18500, was worse case scenario with issues. Also range was to 21, and new kit doesn't just come on line and away we go, full bore.All read quite positively to me, too optimistic maybe. Fortunately there's a few smarter guys here that can give a better take on hopefully a better future.Good luck all, we've been here a long time waiting for sunnier days .

[ashkv] 29/7/2024 06:25

Guidance lowered with a range of 18,500 to 20,000

Though text conveys JSE expects to meet the top end of guidance 20,000 and the lower end is with worst case contingencies!!!

Akatara delayed but imminent!!!

Hopefully the drop today is the final instance to add at these low or lower prices!!!

It looks like Middle East is headed for all out war and $200 Brent is possible!!!

Excellent news on high cost Montara shuttle tankers being done away with!!!

PB disappoints yet again - time for the chap to GO!!!

[upwego] 29/7/2024 05:04

I`m hoping for some good financials and everything going well with Ankatara.

[poacher45] 28/7/2024 10:33

From the updated Jadestone site I noticed the following information:-

Jadestone believes that further interests in the asset are likely to become available, and holds a general, but not priority, pre-emption right in respect of any future sales of CWLH interests.

When I asked in March I was told that at that moment it would not be possible to buy
anymore CWLH.

I do hope that tomorrows interim results can start a rerate for Jadestone to a price
at least comparable to similar companies.

[neo26] 26/7/2024 14:00

Dont judge them on the past, they were a one trick pony now they have diversified assets. They had montara issues and were a little stretched due to spendin on akatara at the same time. Now is payback and hopefully this should recover. If they had major issues with akatara they would have informed market. Hopefully soon they will be producing..

[itsriskythat] 26/7/2024 12:17

Soon find out the state of play with Akatara, but I was expecting that Alatara first commercial gas sales would have merited a separate RNS.

[dunderheed] 26/7/2024 11:09

Well the wa thinfs are, it may still take some time even for small revaluation to be reflected re Aka.
Probably a nice little bump up, then to be sold into any strength?
Hope I'm wrong of course!

[upwego] 26/7/2024 10:55

just getting more undervalued at this rate.

I suppose the market is waiting on Ankatara production proof and then were away I reckon.

[mount teide] 26/7/2024 08:56

Good news - confirmation of the award of a 100% interest in the Puteri Cluster under a Small Field Asset Production Sharing Contract, that Jadestone plans to jointly develop with the 60% operated interest in the surrounding PM428 PSC awarded to Jadestone earlier in 2024. High quality mature assets with low re-development costs that have the potential to be a major cash flow generator over the next decade.

The reason why H2/2026 has been mentioned as the likely date to recommence operations is because the fields previous FPSO Bunga Kertas, is currently scheduled to come off hire from Chevron in H1/2026 - following the return into service after repair of the FSO Benchamas 2 that Chevron has on long term charter from the same owner MISC.

Encouraging that FPSO Bunga Kertas has the American Bureau of Shipping (ABS) as its Classification Society and oil major Chevron as the latest charterer - as ABS, like DNV, is one of the worlds's leading Classification Societies and, Chevron will only charter ships that are maintained under the applicable rules to the highest structural integrity and operational standards.


Field FPSO - Bunga Kertas - AfraMax with Single Point Mooring System

619,000 bbls - Max Storage Capacity
30,000 bopd - Max Production Capacity
20,000 bwpd - Water Production
40 MMscfd - Gas Production
83,213 Metric Tonnes - Deadweight

Upstream - Jan 2024

'Chevron, in its capacity as the 51.7% shareholder and operator for Block B8/32 in the Gulf of Thailand, has confirmed that it is temporarily replacing MISC’s floating storage and offloading (FSO) vessel Benchamas 2 with another MISC vessel following a hull incident back in March 2023 which experienced a seal malfunction during maintenance works which caused a sea water breach.

We gather that repair works for FSO Benchamas 2 may take up to 18 months for completion. The FSO has been performing passthrough operations to an offtake tanker since October 2023 after the safe removal of oil was completed in the previous month.

The replacement storage vessel is MISC’s own FPSO Bunga Kertas which is undergoing repair works since its class was suspended by the American Bureau of Shipping (ABS) in February 2022 due to hull integrity issues. The vessel is expected to replace Benchamas 2 in 2Q/2024, according to Chevron.

FPSO Bunga Kertas was previously attached to the Abu, Abu Kecil, Bubu, North Lukut and Penara (AAKBNLP) and PM 318 production sharing contracts (PSC) offshore Peninsular Malaysia, then owned by Petronas Carigali and Jadestone Energy.

The charter is expected to end sometime in 2026. We understand that Petronas had initially considered other plans for the FPSO including divestment or earlier decommissioning of 12 months ahead of schedule.'

[pughman] 26/7/2024 08:54

The more of JSE O&G assets that are in Malaysia, the better.

[nigelpm] 26/7/2024 08:16

Yes, another nice bolt on - their expertise in this area is clearly providing them with lots of opportunity. Perhaps also a result of the horrors of Montara - experience gained there will help.

[sea7] 26/7/2024 07:53

nice update - expectations met on this one so far

[thedudie] 26/7/2024 07:52

Plan is for FDAP to be submitted by end 2024 - not sure how long they will take to approve. The small field process seems slimmed down so maybe geared to quicker decisions than normal.

They clearly have big plans here hence the award of PM428 in January which was explained at the time as strategic.

Low cost development with high returns - more of the same please....

[spangle93] 26/7/2024 07:33

Well, at least it's a positive use of the acronym "SFA"

Award was flagged in the April presentation for "mid-year" so it's pretty much on schedule.

FPSO MoA already signed, signalling a quick restart to production if FDP approved in 2026

[croasdalelfc] 26/7/2024 07:08

Fiscal terms look good - FSO will be leased .hTTps://www.jadestone-energy.com/wp-content/uploads/2024/07/20240726-JSE-Presentation-Puteri-Cluster-Signing-vF.pdf