Jadestone Energy Share Discussion Threads

[1ajm] 30/7/2024 17:17

Stag and Montara are not currently assets.

[nigelpm] 30/7/2024 16:14

What on earth has Afentra got to do with Jadestone?

[jeff114] 30/7/2024 12:50

One telling point for me to sell my shares was that Afentra could get a cheaper asset backed loan in Africa with no producing assets compared to JSE with producing assets in Asia and Australia... was a sign for me that management being world class is overstated

[pughman] 30/7/2024 10:22

If you divide JSE into Australian and non-Australian assets, and compare production costs, it's not pretty.I'd favour a ABBA strategy for growing the business (Anywhere but bloody Australia).

[stemis] 30/7/2024 08:57

Isn't part of the problem here just how expensive JSE's operations seem to be? Operating expenditure of $240-280m on production of 18,500-21,000 boe/d equates to ~$36/boe. It's not like that's all the production costs, as in 2023 operating costs were $114.8m (on 13,800 boe/d) and total production costs $232.8m with depletion, depreciation and amortisation another $76.1m.

Whatever news JSE put out, the market is surely going to wait to see if they can actually turn a profit/generate cashflow from it...

[nigelpm] 29/7/2024 18:59

Have to agree with yasX on this. He's perennially wrong.

[sea7] 29/7/2024 16:33

malcy view today...

Jadestone are on the verge of getting back to a growth situation and it is a shame that this update has come before commercial production starts at Akatara and is still imminent. Add to that and the bad weather and Jadestone has had to downgrade guidance which is a real shame.

There are lots of pluses that will produce the steps forward after this one backwards, costs are low and the balance sheet is strong. Management is amongst the best in the business with imaginative deals coming through regularly and in the CWLH deal the payments are down. Add to that the recent Malaysia deal which has serious long term upside and potentially another step forward and JSE just about gets the benefit of the doubt.

[kaos3] 29/7/2024 12:10

jacks.... thnx. ... i am foreign so hard to express my thoughts...

i guess the Q is ... is the electricity off take facility ready to get our gas

at 5 + USD price

to start cash rolling in. it is needed that we can deliver, but the other condition is - they must be ready to get it. are they?

mentioned just the export - at much lower prices i guess
will they be able to sell all production they can produce from the start?

ps - it all sounds to me they are in no hurry to start producing. if i got it right - something wrong with the compressor or turbine ... which is rather very unusual these days .... using modern quality control systems.... because new machines hardly ever break down. in between on site build connections could - yes, but not built and delivered components. very unusual. from japan almost unbelieveable

PS - i read what is written and above all what is not. they warned us in advance. they know. can not say. and is beyond their control. all imho

[jacks13] 29/7/2024 12:03

Kaos3 - I hadn't realised that that was your concern, i.e. no mention of commencement of the GSA deliveries. That's because they have not commenced any commercial sales but simply charged the pipeline with gas. That is my understanding.

'Akatara mechanical completion and gas-in achieved in June 2024. The export pipeline from the field has been successfully filled with on spec sales gas, with exports into the regional trunkline expected to commence imminently.'

[ashkv] 29/7/2024 11:42

Enterprise Value / Flowing Barrel for Jadestone Energy is trading at levels of Genel Energy in super high risk Kurdistan with GENL's production contract on shaky legs....

JSE Share Price -> 31.50p
Brent Current Price -> $80.77
JSE Current Share Price vs 52 Week low of 21p on 18 Aug 23 -> 50.00%
JSE Current Share Price vs 52 Week High of 39.5p on 7 Sep 23 -> -20.25%
Shares Outstanding -> 540,817,144
GBPUSD -> 1.2850
JSE 2024 Production Mid-Guidance Revised Down July 24 (18,500-20,000 Boe/d) -> 19,250
JSE Half Year 2024 Average Daily Production -> 16,867
JSE H2 2024 Minimum Production To Meet Mid 2024 Guidance Factoring JSE H1 2024 Average Production -> 21,633
JSE Production Average for 2023 (Montara Curtailed for a period) -> 13,800
JSE Production Average for 2022 (Montara Curtailed for a period) -> 11,487
Net Debt (USD) 30 June 24 -> $72,700,000
Available Credit (Remaining USD 200Million RBL Available + USD 35Million Standby Facility) -> $162,300,000
Market Cap (GBP) -> £170,357,400
Market Cap (USD) -> $218,909,259
ENTERPRISE VALUE (EV) (Market Cap + Debt - Cash) (USD) -> $291,609,259
EV/Barrel(USD) 2024 Mid Guidance Production 21,000 Boe/d -> $15,149
EV/Barrel(USD) Average Production Half Year 2024 -> $17,289
EV/Barrel(USD) Projected H2 2024 Average Production To Meet Mid-Guidance-> $13,480
JSE Decommissioning Expense Provision i.e. Asset Restoration Liability per FY 2023 Results -> $603,902,000
EV/Barrel (USD) JSE 2024 YE Exit Boe/d 23,000 Boe/d Production (Q1 Avg + Akatara 6k boe/d H2 24) [Added Decommissioning Provisions Per FY 2023 Results to EV] -> $38,935
2P Reserves (Boe) as of 31 December 2023 -> 68,000,000
2P Reserves (Boe) YE 23 + 6.8 mmBoe Second CWLH Acquisition H1 2024 -> 74,800,000
EV/2P -> $3.90

[ashkv] 29/7/2024 11:42

JSE Average Production YTD 31 May 24 -> 17,200 boe/d

"Record H1 2024 Group production averaged 16,867 boe/d"

Implies production for June 2024 was approximately 15,169 boe/d

[kaos3] 29/7/2024 11:30

got that - but not a word on its primary and most important customer ... that is what is bothering me

[jacks13] 29/7/2024 11:18

Yes, there is gas available for sale in excess of the GSA commitment.

June 6th rns - Akatara Update:
The workover campaign on the five existing Akatara wells which will provide gas to the Facility has been successfully completed, flowing at an aggregate rate of 54 mmscf/d, significantly in excess of the c.25 mmscf/d of raw feed gas required under the gas sales agreement.

[kaos3] 29/7/2024 10:30

i thought atakara gas was mostly for domestic electricity production

but in RNS today

....Akatara mechanical completion and gas-in achieved in June 2024. The export pipeline from the field has been successfully filled with on spec sales gas....

EXPORT???


and on the jse web page it is:

Jadestone has signed a gas sales agreement (“GSA”) for the Akatara field with PT Pelayanan Listrik Nasional Batam as buyer. The key terms of the Akatara GSA are detailed below:

Daily contract quantity (“DCQ”) of 20.5 BBtu/d
Gas price of US$5.60/mmBtu
Annual take-or-pay quantity set at 90% of the adjusted annual contract quantity
Maximum daily quantity set at 110% of DCQ

[neo26] 29/7/2024 09:06

First 5 months production was 17200bopd, share price last month of h1 production reduced and full h1 avg 16700bopd.More reduction.Akatara will hopefully be online next few weeks.

[fardels bear] 29/7/2024 09:03

He can smell another fifteen hundred quid.

[fardels bear] 29/7/2024 08:24

You still here? Can't think why.

[nigelpm] 29/7/2024 08:15

It's a trading update Forrest - you don't have to show comparatives.

[1ajm] 29/7/2024 08:02

"We are starting to see solid growth feeding into the business and anticipate that the significant increases in production and revenue, coupled with flat production costs, will result in improving financial performance for the first half of 2024"

Is he having a laugh at this point?

I guess end of last year never existed.

[1ajm] 29/7/2024 07:58

H2 2023 column and stats MIA.

[nigelpm] 29/7/2024 07:44

"Imminent" - suggests to me - next few days.

I think the days of low 30's will be few.

[sea7] 29/7/2024 07:37

same here winnet

[dogwalker] 29/7/2024 07:35

'walk it in'?!

[winnet] 29/7/2024 07:35

TBH, good enough for me... anything that avoids any Montara styled meltdowns is fine. I can wait a week or two for Akatara to turn on!