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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Jadestone Energy Plc | LSE:JSE | London | Ordinary Share | GB00BLR71299 | ORD GBP0.001 |
Bid Price | Offer Price | High Price | Low Price | Open Price | |
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35.00 | 35.50 | 35.25 | 33.00 | 33.00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | USD 448.41M | USD 8.52M | USD 0.0190 | 18.55 | 158.05M |
Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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17:07:42 | O | 15,000 | 35.00 | GBX |
Date | Time | Source | Headline |
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14/11/2023 | 14:19 | ALNC | ![]() |
14/11/2023 | 07:00 | UKREG | Jadestone Energy PLC Acquisition of CWLH field interest |
13/11/2023 | 14:28 | ALNC | ![]() |
13/11/2023 | 07:00 | UKREG | Jadestone Energy PLC Operational Update |
18/10/2023 | 06:00 | UKREG | Jadestone Energy PLC Appointment of Non-Executive Director |
09/10/2023 | 10:34 | ALNC | ![]() |
09/10/2023 | 06:00 | UKREG | Jadestone Energy PLC Financing and Operational Update |
19/9/2023 | 13:03 | ALNC | ![]() |
19/9/2023 | 06:00 | UKREG | Jadestone Energy PLC 2023 Half Year Results |
07/9/2023 | 13:26 | ALNC | ![]() |
Jadestone Energy (JSE) Share Charts1 Year Jadestone Energy Chart |
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1 Month Jadestone Energy Chart |
Intraday Jadestone Energy Chart |
Date | Time | Title | Posts |
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01/12/2023 | 17:34 | Jadestone Energy (JSE) - ex Talisman Energy Team's New Venture | 20,347 |
12/10/2023 | 11:52 | Jadestone Energy | 27 |
08/2/2021 | 18:17 | Jadestone Energy 2018 | 29 |
08/11/2018 | 08:39 | Still time to look at Jadestone Energy (JSE) | - |
23/9/2009 | 21:47 | JSE, A Neglected Gem | 46 |
Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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2023-12-01 17:07:42 | 35.00 | 15,000 | 5,250.00 | O |
2023-12-01 16:35:15 | 35.00 | 47,700 | 16,695.00 | UT |
2023-12-01 16:17:49 | 35.00 | 600 | 210.00 | O |
2023-12-01 16:02:08 | 35.50 | 100,000 | 35,500.00 | O |
2023-12-01 16:00:07 | 35.05 | 50,000 | 17,525.00 | O |
Top Posts |
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Posted at 02/12/2023 08:20 by Jadestone Energy Daily Update Jadestone Energy Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker JSE. The last closing price for Jadestone Energy was 33p.Jadestone Energy currently has 448,364,000 shares in issue. The market capitalisation of Jadestone Energy is £158,048,310. Jadestone Energy has a price to earnings ratio (PE ratio) of 18.55. This morning JSE shares opened at 33p |
Posted at 24/11/2023 10:01 by winnet Bear, here you go...After a terrible 12 months, there are good reasons to anticipate a better 2024 for this mid-tier oil and gas company. Jadestone Energy JSE 32p AIM: OIL: CRUDE PRODUCERS • Increasing production • New projects reduce portfolio risk • Dividend return expected in 2025 • Supportive June fundraising • Possible project delays • Management structure Energy stock declines have outpaced oil and gas price falls this year, although earnings are still at or above historic averages. As a result, dividend yields in the sector can exceed 10 per cent (and even 20 per cent in the case of Diversified Energy (DEC). But some of the most glaring discounts, and recent price falls, are to be found among those companies - such as Jadestone Energy ( JSE) - that have fallen offthe dividend list. The company stopped paying out amid an eightmonth production shutdown at its Montara field last year, and has been prevented from resuming dividends by high capital spending. Although production at Montara has resumed, Jadestone's earnings have suffered, pushing the shares down by over 60 per cent, and making it an outlier in an already weak pack. For us, this presents a buying opportunity. While some investors need to see income from their oil and gas holdings, Jadestone's valuation and overall situation is sufficiently compelling to compensate for the current lack of cash distributions. Sell-offThe company was punished for the Montara debacle, rightly, given its business case was buying mature assets and improving their operating performance. The knock was reflected in first-half numbers: sales fell by 62 per cent to $87mn (£69mn), leading to an operating cash outflow of $24mn. While a 23 per cent drop in realised oil and gas prices didn't help, the decline in production did most of the damage. The company did have enough cash to cushion the blow of the Montara suspensions, but by mid-year this had narrowed to $7.8mn from $123mn six months before. The company will slip into a net debt position at the end of this year (Peel Hunt forecasts $47mn) but expects the balance sheet to "exhibit a deleveraging trend by the end of 2024". Meanwhile, the company has maintained its reserves-based lending facility at $200mn, despite weaker energy prices. June's sale of $51mn-worth of shares at 45p apiece also shored up the balance sheet and handed a bigger stake to existing investor Tyrus Capital, which now holds 21 per cent. So far, not so compelling. However, a shift to development alongside a new non-operated acquisition means the company will soon be better insulated from nasty surprises at individual operations. The focus on the Asia Pacific region also provides a point of difference from other UK-listed small- and mid-cap players, which largely operate in the North Sea, the Americas and offshore Africa. Jadestone is currently building up a new onshore gas project in Indonesia, which should contribute to a significant climb in production next year, to 20,000 barrels of oil equivalent per day (boepd) from this year's upper guidance of 13,700 boepd. That second figure is lower than existing capacity due to the Montara suspensions. That increase will also be supported from new wells at the Malaysian East Belumut field and the acquisition of a greater (non-operated) stake at the CWLH fields, offshore Western Australia, taking the total holding to one-third of the asset. Output, net to Jadestone, is now around 3,000 barrels of oil per day (bopd). Encouragingly, a recent trading update revealed better than expected production from the four new wells at East Belumut. "The three wells drilled to date in the 2023 drilling programme are currently producing at a gross rate of 6,200bopd, significantly exceeding the pre-drill gross rate expectation for all four wells of 3,500bopd," Jadestone said. And on the day before the update, production hit 8,800bopd. The company owns 60 per cent of the project, so that is an addition of 5,300bopd net. The hiccup in the well drilling programme is the cost, which was $7mn more than the $21mn expected. This has pushed 2023 capital spending to the top of guidance of between $110mn and $125mn, although Jadestone believes higher output to date means the drilling campaign's total outlay should be "fully cost recovered by Q2 2024". Montara itself is back at 5,700boepd, with "good well performance". The beginnings Jadestone listed on Aim in 2018 as the second major project of Paul Blakeley, three years after the first - the Canada-focused Talisman Energy - was acquired by Repsol (ES:REP) for $8bn. He served as executive chair after the takeover, having run the Asia Pacific division for a decade. At Jadestone, a more US-style leadership structure - under which Blakeley has taken on the president title - has received a mixed reception from investors. At June's AGM, 10 per cent of shareholders voted against Blakeley's re-election to the board. On the morning of the meeting the company made a promise to appoint a chief operating officer and an effort to "enhance internal succession [options]". The development moves in the past two years are not Jadestone's first, either. An offshore discovery in Vietnam - for which it was "targeting project sanction" by the end of 2019 - has been stymied by the need for a buyer. Jadestone sees the operator of a gas power plant in Vietnam as the obvious candidate, and Blakeley put the case to the Vietnamese prime minister in August. This could still turn into a cash generator for Jadestone. Peel Hunt still puts a 9p-a-share value on the two fields, even as its core net asset value (NAV) numbers have tumbled from Montara and fellow Australian offshore field Stag, which are down from 63p and 23p to 24p and 10p, respectively. The drop-offcomes despite Stag's decent performance in the past year (even with a planned shutdown in 2022), and Jadestone consistently being paid a premium of $20 a barrel for its output. Here too, however, costs have been a bugbear. In the first half of 2023, a mix of shutdown issues and tanker costs meant Montara and Stag saw a combined $18mn increase in operating costs to $41mn. Tanker turning With the assumption that Montara reaches consistent performance from now on, the new production from Indonesia and Malaysia means Jadestone could quickly bounce back after a tough run. Progress in Vietnam would be the cherry on top. Getting through 2023 with a new loan facility, enough cash to fund both new production, the added CWLH stake and the East Belumut wells can be seen as a victory. Now the task is rolling everything into a much better 2024. In September, Blakeley told Investors' Chronicle that much closer attention was being paid to Montara. The second shutdown, in July, was due to a defect in a tank on the Montara floating production, storage and offloading (FPSO) ship. "In using a finer probe we found and resolved why we missed it the first time around," Blakeley said. Put simply, "we now have a higher confidence that we can predict greater reliability by adopting this inspection method". This is a game of millimetres and microns, until it isn't: Montara is famous in Australia as the site of one of the region's worst oil spills in 2009 when under the control of PTTPEP, owned by the Thai state. Jadestone also suspended the operation over safety concerns in 2019. Given the vigilance being applied, Jadestone's wider portfolio should amount to a more resilient and diversified investment case. Barring disaster, Peel Hunt even sees the dividend coming back in 2025. If that's an item on next November's trading update, then it's more than likely the share price will have recovered, too. JADESTONE'S VALUATION AND SITUATION IS SUFFICIENTLY COMPELLING TO COMPENSATE FOR THE CURRENT LACK OF CASH DISTRIBUTIONS A RECENT TRADING UPDATE REVEALED BETTER THAN EXPECTED PRODUCTION FROM THE FOUR NEW WELLS AT EAST BELUMUT |
Posted at 14/11/2023 09:25 by ashkv The below 12m target price for JSE is prior to today's amazing CWLH acquisitionAlso USD 100mn is staggered for CWLH and net profits at $80b brent for 2000 boe/d will payback more than half of the same over the next 12-15 months. Per PB on today's Webinar Q1 2024 USD42 million payment will be largely paid for by first lifting in early 2024 from CWLH... Stop spreading misinformed slant... uber troll!!! Per Market Screener (In USD) even the lowest 12m target price for JSE is 100% above current share price and the average 12 month target price of the ultra conservative forecasts (oil price, JSE production forecasts etc) at nearly 1.5x current JSE share price!!! 13 Nov 23 Closing Price is 30.4p which translates to a GBPUSD Conversion Rate of 1.2263 Mean consensus BUY Number of Analysts 4 Last Close Price 0.3728USD Average target price 0.9029USD [73.63p] Spread / Average Target +142.20% High Price Target 1.042USD [85p] Spread / Highest target +179.61% Low Price Target 0.7358USD [60p] Spread / Lowest Target +97.37% |
Posted at 14/11/2023 05:05 by ashkv I have retained the "current production" per JSE RNS update from September 2023.Any estimates for actual current production with the new wells and stabilized Montara production at 7000 boe/d? Thanks JSE Share Price: 30.40p Brent: $83.00 JSE Current Share Price vs 52 Week low of 21p on 18 Aug 23: 44.76% JSE Current Share Price vs 52 Week High of 93.2p on 8 Mar 23: -67.38% Shares Outstanding: 540,693,017 GBPUSD: 1.2300 13 Nov 23 RNS Revised Upward Range Q2-Q4 2023 Average Production Mid-Guidance (14,000 - 15,000 boe/d from APR 23 to DEC 23 ): 14,500 Jadestone Production Average from 1 Jan 23 to 12 Nov 23: 13,100 Current Production Sep 2023 Avg Production (As per 9 Sep 23 RNS): 17,000 Production Average for 2022: 11,487 Debt (USD) (USD 200 Million Reserves Based Lending (RBL) Draw) as of 30 June 23: $111,000,000 Cash (USD) 30 June 2023: $118,782,000 Net Cash (USD) 30 June 2023 : $7,782,000 Available Credit (Remaining USD 200Million RBL Available + USD 35Million Standby Facility): $124,000,000 Market Cap (GBP); £164,370,677 Market Cap (USD): $202,175,933 ENTERPRISE VALUE (USD): $194,393,933 EV/Barrel(USD) Mid-Guidance 2023 (Q2-Q4 Average): $13,406 EV/Barrel(USD) Average Production YTD 12 Nov 23(Montara offline Q1 2023): $14,839 EV/Barrel(USD) Sep 2023 Avg Production (As per 9 Sep 23 Montara Operations Update RNS): $11,435 EV/Barrel(USD) 2022 Actual Average Production: $16,923 EV/Barrel(USD) 2024 Forecast Production Mid Guidance (24,000 Boe/d): $8,100 Decommissioning Expense (Asset Restoration - HY 2023 Results): $574,656,000 EV/Barrel (USD) Top Guidance + Decommissioning Expense Including NW Shelf: $45,238 2P Reserves (Boe) as of 31 December 2022: 64,800,000 EV/2P: $3.00 |
Posted at 13/11/2023 13:32 by 1ajm Todays RNS almost felt like pre co-vid JSE, share price certainly doesn't, shorters must be laughing at +4-5% on that RNS.PM323 drilling campaign sub $30m for +5k+ bopd net is impressive, with a 4th well to hopefully come in. Mention of another 4-well campaign being considered. (taken with a pinch of salt for now) AKATARA is 6k bopd equiv?, can anyone find the slide with the akatara royalties fees on, I cant find them and I remember them being very high, what's the reason for that? after a couple years they start to eat a large chunk of the profits and then calm down again from memory. The PM323 drilling result is making the financial investment and time investment of AKATARA seem laughable? We are now at the dooms day march/april 2020 share price. Oil was $40 a barrel with serious global unknowns (I remember the feeling here) and we were lucky to average 12,116 bopd. Share price quickly recovered to 76p in July 2020, 109p peak H1 2022 @ 15k bopd, $102 oil price average. Montara problems lowering production to 8-10kbopd really did a number. ofc there is share dilution/debt to thank too. Now, hopefully with that behind us, 18k bopd and hedging 50% of production @ $70 average (personally quite like 50% being hedged, downside protection, time will tell) oil price currently at $80 and AKATARA seeing us towards 25k bopd. So many shares with institutional investors used to be a good thing on days like this, ESG rating across their whole portfolio far outweighs their little JSE investment unfortunately. Hopefully H1 akatara being brought online doesn't drag on too slowly. I think it's going to feel like it does. Also I've been reading this board since I started here not long after the IPO so thanks to the contributors of useful and accurate information, good to see you back MT. anyway, there's my thoughts dumped out. Would be lovely to see a similar recovery to that of march-july 2020, but I doubt it. 40p by years end seems depressing but fair. Maybe we can get back to the 50p+ era once we have had 6 months of 18k+bopd and akatara looks like 100% success, shorters start to lose faith and more importantly our own ii's stop dumping. (H1 2024 also needs to bring a clear route to 30k+bopd) until then any sort of mis-hap is going be punished hard. |
Posted at 17/10/2023 15:02 by ashkv Slipped to update prior - Fyi it appears for Sep 2023 Average Borrowed shares (likely shorted) of JSE per Euroclear data ticked up :(JSE Stock Borrowed on Average for JAN 2023 2,010,764 447,052,897 0.44% JSE Stock Borrowed on Average for FEB 2023 3,596,214 443,556,952 0.81% JSE Stock Borrowed on Average for MAR 2023 4,126,836 443,556,679 0.93% JSE Stock Borrowed on Average for APR 2023 3,878,548 443,622,211 0.87% JSE Stock Borrowed on Average for MAY 2023 3,607,434 444,796,841 0.81% JSE Stock Borrowed on Average for JUN 2023 10,909,102 511,598,337 2.13% JSE Stock Borrowed on Average for JUL 2023 18,230,455 537,636,048 3.39% JSE Stock Borrowed on Average for AUG 2023 16,924,643 537,768,270 3.14% JSE Stock Borrowed on Average for SEP 2023 19,973,875 537,738,747 3.71% |
Posted at 06/10/2023 07:51 by sea7 No one would ever exercise a 50p warrant when the share price hits 50p, it is a pointless exercise and one that may create in instant paper loss due to the dilution effect of more share issuance.Many holders of warrants like to flip them in cashless exercises and bank the difference. As we all know, for the cashless exercise to generate a significant profit through difference, the share price must be as far above the strike price as possible. Unless the company begs the holders to exercise, so that they can get the cash in the company coffers, the holders of the 50p warrants will wait until the share price is high enough to book a decent gain, without laying out a penny up front. |
Posted at 25/9/2023 07:36 by ashkv ACT has developed a Stemis manner of fixation on myself ;)Dear ACT I take it you are pivoting from your single minded TRIN fixation and now dabbling in JSE... A few catalysts that "should" lead to a JSE rerate 1) Operational Confidence - as the second misstep of Montara gathers distance in the rear view mirror and performance "hopefully" is consistent/improves than the market in all likelihood will rerate the stock. 2) Time Value discount for Akatara Unwinding- When the prospect of a near 50% increase in production approaches in 2024 Q1 (Commissioning of Akatara) Q2 Actual Production Commences - it would beggar belief that the share price doesn't reflect the same as the bottom-line certainly will. 3) Energy Price Dynamics - Prior to the Second Montara incident with Brent at $82 JSE share price was 36p - now with JSE production higher than just prior to recent mishap, Brent at $93-$94 and 50% of production unhedged and 100% of recent infill success production (1800 Boe/d) is unhedged - it should merit that given far higher profitability the share price rerates. Along please note the relative value pricing of JSE versus other small UK Listed E&P given exposure to fields in multiple OECD countries, low taxation regimes, plentiful tax allowances etc etc 4) Overall Investor Appetite For Energy Shares - Finally the too slow ship is turning, tech is seeing outflows and commodities/energy seeing inflows as analysts once again pivot to the multi-year shortage for brent (JPM has issued a 2025/26 $150 Brent target) and also Saudi / Opec / Defacto Energy Fed support "should" lead to a bull cycle :) Lets take a wager that at year end 2023 JSE will be 20% higher than the present 33p levels? Man-up!!! Arlington Chetwynd Talbott23 Sep '23 - 14:06 - 19886 of 19887 0 2 0 Why would this re-rate anytime soon in a market that is more interested in news flow than long term value? HODLers will no doubt be happy with steady as she goes, but they will probably have to be more than patient. What is going to draw fresh money in at this point or even in the near future? |
Posted at 19/9/2023 07:14 by ashkv I don't comprehend the drop - I viewed it as a positive update.JSE Share Price: 32.50p Brent: $95.00 JSE Current Share Price vs 52 Week low of 21p on 18 Aug 23: 54.76% JSE Current Share Price vs 52 Week High of 93.2p on 8 Mar 23: -65.13% Shares Outstanding: 540,693,017 GBPUSD: 1.2375 Production Mid-Guidance 2023 (Q2-Q4 Average JSE Recent Guidance 13,500 - 15,000 boe/d between April and December 2023 ): 14,250 Jadestone Production Average For Half Year 2023 (Montara offline Q1 2023): 12,339 Current Production (6,250 Boe/d Montara Production Plus 1,680 East Belmut Infill, Plus 10,000 Boe/d production sans Montara -> Per HY 2023 Results RNS): 17,930 Production Average for 2022: 11,487 Debt (USD) (USD 200 Million Reserves Based Lending (RBL) Draw) as of 30 June 23: $111,000,000 Cash (USD) 30 June 2023: $118,782,000 Net Cash (USD) 30 June 2023 : $7,782,000 Available Credit (Remaining USD 200Million RBL Available + USD 35Million Standy Facility): $124,000,000 Market Cap (GBP); £175,725,231 Market Cap (USD): $217,459,973 ENTERPRISE VALUE (USD): $209,677,973 EV/Barrel(USD) Mid-Guidance 2023 (Q2-Q4 Average): $14,714 EV/Barrel(USD) Average Production HY 2023 (Montara offline Q1 2023): $16,993 EV/Barrel(USD) Current Production (As per 31 Auguat 23 Montara Operations Update RNS): : $11,694 EV/Barrel(USD) 2022 Actual Average Production: $18,254 EV/Barrel(USD) 2024 Forecast Production Mid Guidance (24,000 Boe/d): $8,737 Decommissioning Expense (Asset Restoration - FY 2022 Results): $493,985,000 EV/Barrel (USD) Top Guidance + Decommissioning Expense Including NW Shelf: $41,392 2P Reserves (Boe) as of 31 December 2022: 64,800,000 EV/2P: $3.24 Bloomberg Analyst Summary -> JSE Target Price (Avg of all 5 Analysts Reviewing JSE per BBG) as of 13 July 23: 74.50p % Upside to 12 Month Analyst Target Price: 129.23% |
Posted at 12/9/2023 20:47 by e43 At end of July prior to the Montara shutdown JSE share price 34p, After 5-6weeks lost production of main producing asset plus additional costs we're at 36p. |
Posted at 06/9/2023 07:01 by ashkv Euroclear Borrowed Share Data for JSE as of latest August 2023 update."Borrowed Shares" / Likely Shorted have risen to a year high in July but appear to be on a downward trajectory as of August Data. Data is reported for prior month at the start of the next month - though occasionally the data doesn't update in a timely manner. JSE Stock Borrowed on Average for JAN 2023 2,010,764 447,052,897 0.44% JSE Stock Borrowed on Average for FEB 2023 3,596,214 443,556,952 0.81% JSE Stock Borrowed on Average for MAR 2023 4,126,836 443,556,679 0.93% JSE Stock Borrowed on Average for APR 2023 3,878,548 443,622,211 0.87% JSE Stock Borrowed on Average for MAY 2023 3,607,434 444,796,841 0.81% JSE Stock Borrowed on Average for JUN 2023 10,909,102 511,598,337 2.13% JSE Stock Borrowed on Average for JUL 2023 18,230,455 537,636,048 3.39% JSE Stock Borrowed on Average for AUG 2023 16,924,643 537,768,270 3.14% |
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