Jadestone Energy Share Discussion Threads

[fardels bear] 20/5/2025 10:22:59

That's how I understand it.

[winnet] 20/5/2025 09:52:12

the warrants have strike price of 50p, so its not getting there in a year IMO

or have I got that wrong?

[yasx] 20/5/2025 09:51:40

Indeed - good riddance. PB would almost certainly have destroyed JSE.

The new board are slowly steering this Co back on course.

[pughman] 20/5/2025 09:41:16

Exceptional performance from Akatara in first 4 months of 25, with more to come in the medium term. The CWLH decommissioning fund interest received is making more of a return than Stag and Montara combined. Good to have Blakeley off the payroll and all the Benny's.

[horndean eagle] 20/5/2025 09:30:48

Tyrus never had to provide the facility but got paid hefty fees and given free warrants. Don't think they will be moaning that much.

[winnet] 20/5/2025 09:26:42

June 6, 2026.

"In consideration of the support provided to the Company under the facilities, Tyrus will be granted 36 month Warrants representing 30 million ordinary shares, or 6.7% of the current issued share capital, at an exercise price of 50 pence per share. The exercise price under the Warrants is subject to adjustment on certain customary corporate events including share capital sub-divisions and consolidations, capitalisation issues and issues of shares and options (excluding employee options) at a greater than 10% discount to the prevailing market price".

[winnet] 20/5/2025 09:15:20

not sure bear, i'll check

[sea7] 20/5/2025 08:57:45

On akatara...

There is no deferred tax asset recognised at Akatara due to the structure of the PSC and its cost recovery mechanism. Under the PSC terms, operating losses carried forward are recovered directly through the cost recovery process rather than through future tax savings. Since acquiring the Lemang PSC in 2020, accumulated losses have been added to the cost recovery pool, which will be reimbursed from future production entitlements.



As of first gas on 1 July 2024, the cost recovery pool stood at US$288.0 million. These historical losses are recovered through production which is not taxable until the cost recovery pool is fully depleted. The PSC will only generate income tax after the cost recovery pool is fully depleted and so there is not sufficient certainty that future profits will be generated against which to utilise the losses.

[fardels bear] 20/5/2025 08:56:02

When do the warrants expire, winnet?

[winnet] 20/5/2025 08:45:23

thats what i've been saying all along with regards to divis. However, I'd prefer a buyback programme over dividends given the warrant situation.

[nigelpm] 20/5/2025 08:37:25

Liquidity of 142m at 30 april. I suspect allocating 5m of that to a buyback would be possible.

[yasx] 20/5/2025 08:26:49

A buyback would be welcome - but havibg the authority to do it is one thing, having sufficient spare cash another.

[11_percent] 20/5/2025 08:16:25

Spangle93,

Ok, point taken.

I dont like reports with boe (equivalent).......same with miners that are producing gold, silver and copper....and they report the gold equivalent.

[forrest1987] 20/5/2025 08:07:16

Market no likey

Going red imho

[fardels bear] 20/5/2025 08:02:55

Well, there's no such thing as a perfect world, or a perfect RNS, but I do think this damned if they do damned if they don't attitude in here falls too easily to many lips and for some years now has made me question the motives of some posters.

[spangle93] 20/5/2025 07:56:44

11_percent 20 May '25 - 07:33 - 23673
"# 10% reduction in adjusted unit operating costs in 2024 to US$33.68/boe (2023: US$37.24/boe)"

Cost/boe has fallen, yes, but costs themselves rose.

Also, cost/boe is stretching the equivalence part of "barrel of oil equivalence". It makes year on year comparisons possible, for sure.

But if you swing from an oil-rich production stream to one in which gas forms a higher portion, drawing a firm conclusion is a bit shonky.

Also, if you used economic, rather than calorific, equivalence, the cost/boe number would be higher.

[nigelpm] 20/5/2025 07:41:29

Very helpful putting the cash balance at 30 April but it does then have me asking if the cash balance at 30 April includes the receipt from PTTEP:


On 16 April 2025, the Group announced that it had sold its Thailand interests to a subsidiary of PTTEP, the Thailand national oil and gas company, for a cash consideration of US$39.4 million, with a further US$3.5 million in contingent payments depending on future license extensions.

One could assume the cash has been received as at 30 April or it's still on the debtor ledger.


PB did well!

During the year, there was compensation for loss of office amounting to US$2.3 million, plus, US$0.2 million of payroll tax for the departure of the former CEO, Mr A. Paul Blakeley. These amounts were accrued in 2024 and paid in 2025.

[11_percent] 20/5/2025 07:34:32

nigelpm,

Yes...I am all for it.......buy back some share and support the share price

[11_percent] 20/5/2025 07:33:09

# 10% reduction in adjusted unit operating costs in 2024 to US$33.68/boe (2023: US$37.24/boe)

Getting costs down.......and thats on the 2024 production... "Delivered record annual production of 18,696 boe/d in 2024 (+35% year-on-year)."

Should be down more with ........"year-to-date 2025, with production for the first four months of 2025 averaging 20,830 boe/d".

[nigelpm] 20/5/2025 07:31:18

Certain of Jadestone's shareholders have requested that the Company seek authority to repurchase shares at the 2025 AGM on 20 June 2025.


Would be great business to be buying in the low 20's vs a load of issuance at 45p - that's for sure.

[11_percent] 20/5/2025 07:26:35

Hi guys.....wakey, wakey, hands off shakey.....RNS out.

[11_percent] 20/5/2025 07:24:37

¡ 2025 average production of 18-21,000 boe/d (post Sinphuhorm sale).

Seems a bit of a wide range.......but so far this year we are at the top of it.

"year-to-date 2025, with production for the first four months of 2025 averaging 20,830 boe/d, a 22% increase year-on-year and an annual record for this period."

[11_percent] 20/5/2025 07:04:20

Looks ok.


Current trading and outlook - a strong start to 2025

l Strong portfolio performance year-to-date 2025, with production for the first four months of 2025 averaging 20,830 boe/d, a 22% increase year-on-year and an annual record for this period.

¡ Akatara has delivered robust performance year-to-date in 2025, with gross production averaging approximately 6,200 boe/d and 96% facilities uptime, both ahead of plan.

l All guidance metrics unchanged:

¡ 2025 average production of 18-21,000 boe/d (post Sinphuhorm sale).

¡ 2025 operating costs of US$250-300 million.

¡ 2025 capital expenditure of US$75-95 million.

¡ 2025-2027 free cash flow (pre debt servicing) guidance[1] of US$270-360 million.

l Active portfolio management with the sale of the Group's non-operated Thailand assets in April 2025 for an upfront consideration of US$39.4 million and contingent payments of US$3.5 million.



l Submission of the field development plan for the commercialization of the Nam Du/U Minh (NDUM) discoveries offshore southwest Vietnam to Petrovietnam, commencing the regulatory approval process.

l Skua-11ST well operations ongoing, to accelerate recovery of reserves from the Skua structure and extending the economic life of the Montara field by one year. Results expected in June 2025.

l Debottlenecking project at Akatara progressing, accelerating the commercialization of up 3.5 mmboe of reserves.

l In line with previous announcements, Jadestone has been reviewing its organizational and cost structure, with the aim of ensuring that the Group is run as efficiently as possible and enhancing its resilience to oil price cycles, while maintaining the highest safety standards. As part of this review, the Group will reduce the headcount of its Australian onshore office in Perth by approximately 25%. The targeted headcount reductions do not impact the Group's offshore Australia workforce. Jadestone's Australian asset portfolio remains a core focus for the Group and its growth ambitions.

l The Group continues to explore strategic acquisition opportunities to drive value and deliver scalable growth.

[nigelpm] 15/5/2025 14:12:22

Let's make this board where all views and opinions are welcome, even if there are disagreements, let's not make it personal.

Couldn't agree more. I'd take this opportunity to apologise for using the word "drivel" - not my usual - must have been having a bad day.