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JSE Jadestone Energy Plc

23.75
-0.50 (-2.06%)
Last Updated: 09:52:35
Delayed by 15 minutes
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
  -0.50 -2.06% 23.75 265,203 09:52:35
Bid Price Offer Price High Price Low Price Open Price
23.50 24.00 24.30 23.75 24.25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs USD 323.28M USD -91.27M USD -0.1688 -1.41 131.15M
Last Trade Time Trade Type Trade Size Trade Price Currency
10:10:53 O 15,000 24.00 GBX

Jadestone Energy (JSE) Latest News

Jadestone Energy (JSE) Discussions and Chat

Jadestone Energy Forums and Chat

Date Time Title Posts
21/11/202409:36Jadestone Energy (JSE) - ex Talisman Energy Team's New Venture22,907
12/10/202311:52Jadestone Energy27
08/2/202118:17Jadestone Energy 201829
08/11/201808:39Still time to look at Jadestone Energy (JSE)-
23/9/200921:47JSE, A Neglected Gem46

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Jadestone Energy (JSE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
10:10:5424.0015,0003,600.00O
10:10:4924.00100,00024,000.00O
09:34:3824.202,500605.00O
09:29:1824.2910325.02O
09:28:4024.0025,0006,000.00O

Jadestone Energy (JSE) Top Chat Posts

Top Posts
Posted at 21/11/2024 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 24.25p.
Jadestone Energy currently has 540,817,144 shares in issue. The market capitalisation of Jadestone Energy is £128,444,072.
Jadestone Energy has a price to earnings ratio (PE ratio) of -1.41.
This morning JSE shares opened at 24.25p
Posted at 11/11/2024 09:26 by ashkv
A relief that Akatara is operating though still a work in process!!!

Skua well delayed to Q2? If I recall Skua was outlined for Q1 2025?

All in all cool with the delay as prudent for JSE to build back balance sheet prior to proceeding on its biggest capex outlay for 2025 / as updated by JSE management.

Hopefully some news on Vietnam Gas Farm-out and further deals soon / along with the long awaited Akatara handover/full commission RNS :)

Share price is exceedingly cheap.

CEO PB time to double dip into those fat pockets and buy some more shares :)

Tyrus could well spring a cheap takeover offer in the 30s if share price wallows at these ridiculous lows....

JSE Share Price -> 24.00p
Brent Current Price -> $74.00
JSE Current Share Price vs 52 Week low of 23p on 9 Feb 24 -> 4.35%
JSE Current Share Price vs 52 Week High of 39p on 5 Dec 23 -> 62.50%
Shares Outstanding -> 540,817,144
GBPUSD -> 1.2900
JSE 2024 Production Mid-Guidance Revised Down July 24 (18,500-20,000 Boe/d) -> 19,250
JSE October 2024 Average Production -> 22,000
JSE YTD Average Production To End August -> 17,500
JSE Sep to Dec 2024 Min Production To Meet 2024 LOW Guidance Taking Into Account YTD Avg Prod Till End August 24-> 20,500
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) 31 Aug 24 -> $94,600,000
Available Credit (Remaining USD 200Million RBL Available + USD 35Million Standby Facility) -> $140,400,000
Market Cap (GBP) -> £129,796,115
Market Cap (USD) -> $167,436,988
ENTERPRISE VALUE (EV) (Market Cap + Debt - Cash) (USD) -> $262,036,988
EV/Barrel(USD) Mid-Guidance Revised Down July 24 (18,500-20,000 Boe/d) -> $13,612
EV/Barrel(USD) JSE October 2024 Average Production -> $11,911
EV/Barrel(USD) Projected Sep to Dec Average Production To Meet 2024 Low-Guidance-> $12,782
JSE Decommissioning Expense Provision per HY 2024 Results -> $682,915,000
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] -> $41,085
2P Reserves (Boe) as of 31 December 2023 -> 68,000,000
2P Reserves (Boe) YE 23 + 6.8 mmBoe Including Second CWLH Acquisition H1 2024 -> 74,800,000
EV/2P -> $3.50
Posted at 16/10/2024 12:43 by mount teide
winnet - 'It seems to make no sense to invest in risk capital anymore.'

AIM like the FTSE 100 is a stock pickers market - the average holding period of my 'Buy & Hold" portfolio of equities is now nearly 6 years.

Following a request, posted two portfolio performance updates earlier this year on my Arrow Exp thread(5.4 year performance), and a 1 year performance on my Afentra thread.

Jadestone, as a result of the badly handled Montara collapse, is the worst performing stock over the 6 year holding period by some considerable margin.






The 'Market' - From my research, 99.9% of stock market Analysts and Fund Managers go straight from university into the City - few, if any, hold any professional qualifications or have first hand senior management experience of the sectors they cover.

They may be well educated and able to write what appears relatively plausible analysis but, I've found in my area of professional experience - the global shipping and ports industries - its generally superficial and limited in quality and so, proved almost without exception of little value for equity investment purposes. By implication would expect the same to be the case of their 'coverage' of virtually most other sectors/industries.

Almost certainly, this is the primary reason why over 95% of Fund Managers and their teams of analysts are unable to beat a low cost FTSE tracker.

In today's 'markets', over a 5 year view, many sectors and individual equities appear to spend as much time under or over valued as they do at fair value - so much for market efficiency!

Since the London IPO Arrow Exploration has returned a CAGR of over 70% - and yet by any objective analysis the share price price still considerably lags the huge additional value generated to date, never mind a premium for a likely continuation of this performance over the next 18 months.

I consider Arrow's present valuation as a market anomaly - an exception to market efficiency. Similar to the 15 month period up to October 2023, due to the impact of the exercise of the huge number of warrants well 'in the money' issued to IPO investors - the share price has since returned 76.4%.

Unless the investment case/fundamentals materially change, long market history shows that investor greed corrects most market anomalies over time..... major market indexes have a near perfect record of returning to their long term mean value over time.
Posted at 03/10/2024 06:53 by mount teide
Yes, and very welcome.

Although for perspective, it's 1.5% of the circa $10m+ he has trousered, including circa $2m of 'overseas allowance support' in shareholders funds in the 6 years since the London AIM IPO.

In addition to his base salary he is getting around $300k a year in living expenses, plus performance bonus(up to 150% of salary), pension, health and life insurance cover.

With the share price still 15% below the IPO price, Paul Blakeley needs to deliver big time over the next 12-18 months.


ps: why the remuneration committee thought he was worthy of $830k in performance related pay over the two years - 2021 and 2022 - the period of the Montara Venture debacle, which saw the share price commence a period of freefall, has never been explained to shareholders.
Posted at 20/9/2024 07:56 by pogue
KS well done on the write up covers 99% of what I would say. I will add some more bits to flesh out things as I did a bit more chatting to Phil Corbett from IR who gave some other insights. By the way management are very happy to talk to anyone and Paul and Phil claim they reply to every email. If you want Phil’s email message me he was giving out his card freely last night.

Akatara
As KS says there is another buyer for the gas and that is upto the limit allowed by the government however more gas can be produced by debottlenecking, bypassing choke points in production using other equipment they already have or can buy, they would assess the cost benefit of this later when production has settled down plus they would need government permission to sell more than their current allowance so increased sales is possible in the future not near term I would suggest as the second buyer is not getting his gas till end of next year.
KS said there is a dry run tonight but that is of the Siemens motors other bits don’t work such as the compressor as well so that is not as life changing as it seems.
As KS alluded to design of O&G plants is my speciality, it’s the day job. The screw up at Aaktara is due to doing the job cheaply. The skids were built in China and the whole project was fixed price with local EPC. If you are in the business you will know why there are issues now. If not here is it broken down. The plant was built using skid mounted equipment which is fine if the people that build the skids are competent and honest. A skid is a piece of plant that comes pre built eg a compressor package which has the compressor and all the ancillary equipment it needs to operate so it comes as plug and play effectively. These we built in China which is world famous for shoddy workmanship in O&G and in my experience forging certificates so what you see is not necessarily upto the standard you need or ordered. This was a double problem as the EPC, company doing the overall design and build, were given a fixed price contract, ie they had to bid a price at the beginning they thought they could build the plant for. Most companies nowadays don’t ask for fixed price as it is very difficult to manage the EPC and get an operating plant at the end. If the EPC has made an error in its pricing which considering inflation recently in materials is very likely they also can get the design slightly wrong as all they are doing early on is guesstimating for a bid so the real design usually brings out things that need changed it means the EPC has to recover the costs somehow. 2 ways to do this get the client to pay on a change order or get equipment from the cheapest vendor eg China. So we have lots of Chinese built equipment on site, even the Siemens motors I suggest were Chinese built. How these skids passed a Factory Acceptance Test (FAT) where the equipment is supposed to be tested to the specification is beyond me as they are not working when hookedup on site. Anyway if you want to worry think about what else might go wrong later. They are going to have to manage preventative maintenance very tightly.

Misc
Fireplace asked yesterday about them selling the company. Yes they are for sale at the right price however from the look Paul gave the right price is a long way from where we are so not going to happen soon. They are looking at ways to increase the share price but seem lost for ideas. Phil seemed to think the market will turn soon as 2 of the insitis that hold JSE Shares were indicating to him that they see the drop in US interest rates as stimualtingthe small cap market there and should come across the pond. Only an opinion there but we live in hope. Moving to another index I suggested and KS described the reply very well my impression is there isn’t one that they could go to that is any better than AIM just now and from what I heard from Phill he seems to think that too, even if there was one that would not upset current holders that couldnt handle the move due to restrictions. It would be a dual listing by the way.
FPSO for Malaysia will be sale and leaseback to another company that will keep Mount Teide happy lol. They plan to buy the FPSO and sign the leaseback agreement same day so there is no issues.
Posted at 17/9/2024 11:00 by 1ajm
Very rare, if ever, for JSE share price to rise on results day, even back when results and sentiment were good and the share price was generally rising.

Not good H1 as expected, given oil prices and Akatara revenue delays probably a rough H2 also. Moving in the right direction from 2023 at least.


"After the H1 2024 reporting period, the Group generated US$53.0 million in revenues from three liftings of 0.59 mmbbls in July from Montara, Stag and PenMal"

"Net debt of US$69.1 million at 30 June 2024 reflects c.US$130.9 million of consolidated Group cash balances and US$200.0 million of debt drawn under the Group's reserves-based lending ("RBL") facility. As at 31 August 2024, net debt was US$94.6 million, based on consolidated Group cash balances of US$105.4 million and US$200.0 million of debt drawn under the RBL facility."

Where is the COO?

Will 2025 be the turn around? who knows,
-Australia will continue to be an ongoing concern across the board, with an outlook of cost control and being properly maintained.
-Malaysia, Indonesia and Vietnam on the other hand have great opportunity,
-Malaysia PM323 being a fantastic result and "The Group is progressing plans for further infill drilling on the East Belumut field, in particular focusing on the undrained southwestern area of the field discovered during the 2023 campaign."
-Indonesia, of course Akatara coming online and paying back the years of heavy investment with revenue and large margins.
- Vietnam, obviously further out then 2025 and would need funding but opportunity at least.


IMO DYOR this is not advice.
Posted at 17/9/2024 10:45 by ashkv
An exact 20,500 boe/d average production required from Sep to Dec to meet 2024 low guidance / I updated from prior revised down Mid-Guidance.



JSE Share Price -> 28.00p
Brent Current Price -> $72.50
JSE Current Share Price vs 52 Week low of 23p on 9 Feb 24 -> 21.74%
JSE Current Share Price vs 52 Week High of 39p on 5 Dec 23 -> 39.29%
Shares Outstanding -> 540,817,144
GBPUSD -> 1.3200
JSE 2024 Production Mid-Guidance Revised Down July 24 (18,500-20,000 Boe/d) -> 19,250
JSE YTD Average Production To End August -> 17,500
JSE Sep to Dec 2024 Min Production To Meet 2024 LOW Guidance Taking Into Account YTD Avg Prod Till End August 24-> 20,500
JSE Production Average for 2023 (Montara Curtailed for a period) -> 13,800
JSE Production Average for 2022 (Montara Curtailed for a period) -> 11,487
Debt (USD) (USD 200 Million Reserves Based Lending (RBL) Draw) -> NA
Cash (USD) -> NA
Net Debt (USD) 31 Aug 24 -> $94,600,000
Available Credit (Remaining USD 200Million RBL Available + USD 35Million Standby Facility) -> $140,400,000
Market Cap (GBP) -> £151,428,800
Market Cap (USD) -> $199,886,016
ENTERPRISE VALUE (EV) (Market Cap + Debt - Cash) (USD) -> $294,486,016
EV/Barrel(USD) 2024 Mid Guidance Production 21,000 Boe/d -> $15,298
EV/Barrel(USD) YTD Average Production To End August -> $16,828
EV/Barrel(USD) Projected Sep to Dec Average Production To Meet 2024 Low-Guidance-> $14,365
JSE Decommissioning Expense Provision i.e. Asset Restoration Liability per HY 2024 Results -> $682,915,000
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] -> $42,496
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 -> $3.94
EV(Including Decommissioning Costs)/2P -> $13.07
Posted at 31/7/2024 07:17 by ashkv
Pinch me - AXL and now JSE news

Hopefully JSE share price recovers (Fingers crossed)
Posted at 29/7/2024 11:42 by ashkv
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
Posted at 10/7/2024 10:43 by winnet
I cannot see the warrants being an issue, as they won't exercise until such times as they can generate a decent profit in a cashless exercise. When the share price is signficantly above the strike price, then I will expect to see some of them showing up.

---

But surely you can see this would depress the share price above the strike price. Hence the long-term potential of the share price?
Posted at 02/7/2024 11:35 by ashkv
JSE production has to average around 23k boe/d to meet lower end of guidance - assuming June production is static from RNS notified update on average production to End May 2024

1AJM/R123/F1987 trolling on JSE YE Share Price versus present - he forgets to mention the 2024 update on one off extraordinary Montara and Stag 2024 costs that JSE is recovering from.

Share price will recover!!! Great time to add for those that their risk limits permit!!!

Akatara has been derisked, Brent very supportive, news on Vietnam Gas Project Farm-out, Deleveraging, other deals in the works per management!!!

May the force be with Montara/JSE shareholders!!

paduardo1 Jul '24 - 04:36 - 22019 of 22031
0 2 0
Does anybody have any thoughts as to how long it will take Akatara to ramp up / achieve commercial gas sales? I have been looking online and cant find any information about how long this might typically take. Has PB ever discussed this or has IT been included in a presentation or RNS - I have had a look but could not find any reference.
Jadestone Energy share price data is direct from the London Stock Exchange

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