Share Name Share Symbol Market Type Share ISIN Share Description
Jadestone Energy Plc LSE:JSE London Ordinary Share GB00BLR71299 ORD GBP0.001
  Price Change % Change Share Price Shares Traded Last Trade
  1.50 1.92% 79.50 268,435 16:07:21
Bid Price Offer Price High Price Low Price Open Price
79.00 80.00 79.50 78.00 78.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 159.40 -41.86 -9.51 369
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:56 O 22,500 79.50 GBX

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Date Time Title Posts
24/7/202109:20Jadestone Energy (JSE) - ex Talisman Energy Team's New Venture5,940
08/2/202118:17Jadestone Energy 201829
08/11/201808:39Still time to look at Jadestone Energy (JSE)-
23/9/200922:47JSE, A Neglected Gem46
15/9/200217:20Jo'burg prices8

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Jadestone Energy Daily Update: Jadestone Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker JSE. The last closing price for Jadestone Energy was 78p.
Jadestone Energy Plc has a 4 week average price of 69.50p and a 12 week average price of 60.50p.
The 1 year high share price is 80p while the 1 year low share price is currently 44.50p.
There are currently 463,649,477 shares in issue and the average daily traded volume is 562,080 shares. The market capitalisation of Jadestone Energy Plc is £368,601,334.22.
mount teide: be13 - not suggesting 106p is my end of Sept 2022 target ..... although, when taking into consideration the unprecedented hammering the O&G sector has experienced since 2018, a 34% CAGR share price performance over 4 years would nevertheless be a remarkable achievement. The lowly current valuation relative to NAV and record low valuations across the sector, when taken together with the prospect over the next 5 months of a near doubling of production and sub $20/bbl OPEX, suggests that in a $70 Brent world, a 150p share price should not only be a realistic 12 month target( equivalent to a circa 45% CAGR post IPO), but, even £2.17 by Sept 2023(equivalent to a 5 year CAGR of 45%) should look potentially achievable too. AIMHO/DYOR "Extremely Disconnected" Energy Stocks Face Explosive Short Squeeze: JPM - Zero Hegde hTTps://
mount teide: Since the September 2018 London IPO Jadestone has achieved a circa 34% CAGR share price performance, while the overwhelming majority of the rest of the O&G market has delivered negative returns. For Jadestone to continue this 34% CAGR performance for a fourth year the share price would need to reach 106p by September 2022.
sporazene2: the JSE share price has been solid through the pull back at the end of the last week and early this week. The weekly chart is looking in pretty good shape and I posted my thoughts on this on twitter just now. Certainly points towards patience being rewarded Given the malaysia acquisition is progressing well, it would not surprise me for them to announce another 5-10K acquisition in the not too distant future. GLA
bamboo2: Brent H&S mentioned recently confirmed validity and hit target [min $69] today. Next possible turn is 22/7/2021 Historical support at $65 JSE shows a possible turn today, so expect lower share price until next possible turn which shows on my chart 27/7/2021. Taken small profit today and hope for a dip, although support zone 73.8-75 looks strong.
kfr20: Crikey, just seen PMG's share price. A favourable tide really does lift all boats it seems. Quite happy for JSE to bob about quietly in the harbour safe in the knowledge it will soon catch a bid.
croasdalelfc: The 3.6m barrels accrued (4m by end Sept) via Maari acquisition is one big factor - worth $257m revenue by Sept.Alone imo that is worth 20p on share price.The PM assets transaction also has 1.1m boe accrued ( 1.6m by End Sept) worth ~$100m revenue by End Sept .That is worth another 10p on share price given the lower transaction cost .H6 well completion on time and budget with 2000 bopd is worth 5p .Skua workovers another 3p.
mount teide: Considering the quality of the management, production development potential of the assets, the attractive purchase price and quality of the acquisitions nearing completion, and the unprecedented pipeline of priced to sell high quality assets becoming available from major and National Oil companies disinvesting/transitioning from the sector into renewable energy, I intend to hold for at least a further 3-5 years. I believe the strengthening tail wind generated by the quick recovery in oil demand following the huge destruction of production wreaked by the global pandemic, when layered on top of the waterfall drop in exploration by the industry over the last 5 years, the outstanding regional energy market growth prospects, and fundamentals for specialist second phase operators; the huge cash flow generating potential of Montara driving the business for many, many years to come, makes the risk/reward of the Jadestone Energy investment case highly compelling/almost unique in the sector. As Wood Mac recently confirmed, there is a growing number of M&A opportunities emerging within the maturing O&G basins of SE Asia, Australia and the Pacific Rim with very limited competition for the assets. Excellent opportunities are being sold at highly distressed prices by North Sea standards. The fundamental value proposition however, is the reinvestment prospects post acquisition, where Jadestone always looks for much greater potential than the headline acquisition price. The primary difference between Jadestone and the North Sea players is that the company is focused on the Asia Pacific region where the returns are on average much higher, the competition very limited and asset purchase prices relatively modest - high quality assets are increasingly being sold via bilateral deals, with no competition. What’s more, product pricing is highly favourable in South East Asia. Low sulphur crude oil is routinely sold at a material premium to Brent and natural gas is mostly contracted in the $8.00 – $9.00/mcf range (an average of more than three times the US Spot market price over the last decade). In common with Hedge Fund Manager, Jadestone NED and major shareholder David Neuhauser I believe Jadestone Energy can be worth £1.50 - £1.75 a share during 2022, assuming management successfully execute the fully funded production development programme and complete the proposed New Zealand and Malaysian acquisitions. And perhaps much more if they add another Montara scale acquisition in the interim. At $75 Brent, with Montara's ultra low OPEX/bbl providing huge cash flow generation and excellent investment downside protection, as a result of having an early life $108 million converted cost FPSO servicing the Montara field, generating just $17.5/bbl op expenses for Montara and its satellites on production of just 10,000 bopd, I see current fair value today as somewhere in the 100p range. By way of comparison, Premier's Catcher field FPSO OPEX/bbl on a similar production volume would be circa 5-6 times higher! The investment case is underpinned by having a management highly experienced at operating in the Asia Pacific region with longstanding relationships with the principal stakeholders, and deep insight into many regional M&A opportunities. They’re already credited with creating two highly successful independent E&P businesses - one in the North Sea and the other in Asia Pacific - and like our two high performing hedge fund shareholders, believe they can replicate this success again at Jadestone Energy, not least since they're now operating with the advantage of the recovery stage of a new oil market cycle, a post pandemic recovery in demand, and a huge programme of disinvestment from the mature O&G basins of the world by the oil majors; rather than the head winds of the much more demanding decline stage of the oil market investment cycle they mostly operated under when at Talisman Asia. Since Jadestone, in common with most O&G industry quoted companies, is currently trading at a deep discount to the value of the company’s assets, there is a wide margin of safety here. An investment today in Jadestone Energy is not just a direct play on the recovering oil and gas price, but a play on the management’s ability to successfully execute organic growth projects and, identify and buy distressed/unwanted assets at attractive prices and, develop/considerably extend the production life through reinvestment. If the astonishing 2018 Montara acquisition deal ($195m gross/ $82m net / with an estimated annual operating cash flow of circa $200m at $75 Brent), and their incredible track record at Talisman Energy is a reliable guide, an investment here is probably in as safe a pair of hands as the industry can offer. AIMHO/DYOR Declaration: Currently hold 1.22m.
king suarez: JSE is probably also lagging other oilers in response to the rising oil price because: 1) JSE is a comparatively low cost producer 2) JSE is not encumbered/leveraged with debt (net cash position) 3) JSE receives a premium price to Brent (due to low Sulphur content) All of these make it a 'safer' investment compared to many, though still with tremendous upside due to the undervaluation and ability of BOD to snap up accretive assets from majors on the cheap (and improve them via cost efficiencies). Strong growth potential, through infill drilling existing assets, recent acquisitions AND large gas assets to be developed in Vietnam with high fixed price contracts - these were unfortunately put on the back burner temporarily, but will add tremendous value once in production.
mount teide: Brent Oil Price - April 2021 v September 2020 Brent Oil Price - unadjusted for Inflation - Sept 2020 $78 - Average 10 year price $58 - Average 5 year price $54 - Average 3 year price $47 - Average 1 year price $34 - Average 6 month price $41 - Average 3 month price $45 - Current price $8 - IMO 2020 Premium to Dated Brent Sept 2020 Brent price had 73% upside to its 10 year average price. Brent Oil Price - unadjusted for Inflation - Apr 2021 (Change to Sept 2020 in Brackets) $77 (-1.2%) - Average 10 year price $68 (+51.1%) - Current price $62 (+51.2%) - Average 3 month price $57 (-1.7%) - Average 5 year price $55 (+61.7%) - Average 6 month price $54 (No Change) - Average 3 year price $47 (No Change) - Average 1 year price $13 (+62.5%) - IMO 2020 Premium to Dated Brent April 2021 Brent price has 13% upside to its 10 year average price. At the height of the 2020 oil price collapse Jadestone's H1/2020 performance was outstanding compared to the overwhelming majority of the O&G sector. "Despite H1/2020 being among the most challenging for the global oil & gas industry in the last 20 years or more, our portfolio has remained cash generative and we have delivered a strengthened balance sheet while continuing to grow our asset base. We have now reduced debt to just $25.6 million and further built up our net cash position to $78.2 million, despite significantly lower global oil price benchmarks over the period." A remarkable result considering it was achieved with a combined field uptime performance of 74%, some 13.5% below that of H2/2019: 'due to significant restrictions imposed by COVID-19, including reduced manning, delays to executing well workovers, and other planned facility upgrades and interventions, as well as the impact of seasonal cyclones in Q1.' The cash generation performance in H1/2020 demonstrated well the resilience of the business to extreme oil price volatility and, the outstanding professionalism of the management in steering the company through an extended period of record low average oil prices, which decimated much of the global O&G industry and completely flattened the US Shale sector. 'Positive cash generation for both H1 2020 and Q2 2020, resulting in gross cash and bank balances of US$113.81 million as at June 30, 2020, and net cash of US$78.22 million. This represents an increase in net cash, quarter-on-quarter, of US$6.1 million, and a US$38.9 million increase versus December 31, 2019, after debt repayment' Against such a backdrop Jadestone is positioned extremely well to perform at $65-$70 Brent and current IMO 2020 Premiums. AIMHO/DYOR
mount teide: Buffy..........relative to investment risk......I see JSE as my O&G sector banker.....its an ultra high cash flow/bbl production business at $65 Brent, run by an outstanding management who have demonstrated to the sector for well over two decades they're virtually peerless at generating capital growth as specialist second phase O&G field acquirers, operators and developers. I have seven figures holdings in TXP, JSE, SAVE and PTAL. If forced to hold only one for the next 5 years - it would be JSE, since i believe it would offer, for my risk appetite, the best combination of low risk upside potential and outstanding downside protection for a single all-in O&G sector holding. In 2020, the JSE management demonstrated what they can do in an oil market with record low prices - at $65 Brent, inclusive of the IMO 2020 premium, JSE generates cash flow per barrel equivalent to what much of the O&G industry were generating when Brent was averaging over $100/bbl between 2010-2014. With production being ramped up during 2021, and a year end production exit rate of perhaps 17-18,000 bopd(assuming Maari completes as expected); a "high $teen/bbl OPEX during Q4/2021", at the current Brent price, this could generate another huge step change increase in the current excellent cash generation going into 2022. In addition, it was clear that the next acquisition is very likely to be a producing asset ....Paul sounded very bullish on this yesterday... "little competition, many sellers ... a buyers market!". So, JSE could well be a 20,000+ bopd producer in 2022 with sub $20/bbl OPEX,- such a production growth scenario could potentially generate cash flows of circa $400m per annum at $65 Brent(plus IMO 2020 Premiums) and $600m at $100 Brent. While the other O&G holdings may well have the potential to achieve a better capital growth performance than JSE over the next 3-4 years, I consider JSE's risk reward to be superior, particularly when considering the excellent downside protection, which today, despite its importance proving the test of time over at least 70 years of stock market history, and which proved invaluable for JSE in 2020, seems to be given a much lower investment case weighting by many PI's than it deserves, if many of the comments on Advfn are a reliable guide. What the two high performing hedge funds(and I suspect many PI's) want is for Paul Blakeley and his team to continue replicating at Jadestone, what they did outstandingly successfully at Talisman Energy North Sea and SE Asia. ie use the same low risk O&G business MO of buying and operating efficiently, high quality assets with excellent re-investment potential, acquired at valuations which meet or exceed their demanding screening process. As Edgar Bergen (and Warren Buffett) so aptly said, “Hard work never killed anyone, but why take the risk”. AIMHO/DYOR ps; if the question was; "which has the greatest potential for capital growth over a 1-2 year outlook regardless of risk to the investment capital": then SAVE, which like JSE is a very high cash flow generating business with near 80% operating margins and more than 94% of its revenues underwritten by the World Bank, and currently the subject of very strong interest from new investors would have been my selection. Declaration - I hold 2.2m in SAVE, 90% of which were purchased at an average of circa 9.0p in December 2020, following the announcement in Lloyds List that the African continent's first mega shipping port and industrial city to challenge the dominance of the Chinese and SE Asian giants, had received Government approval and would be built in SAVE's back garden, where they're the sole provider of nat gas for clean energy generation, to the three hugely under-utilised power stations which service the province and, own the associated 260km network of gas pipeline infrastructure.
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