Jadestone Energy Share Discussion Threads

[croasdalelfc] 13/11/2023 21:52

Nice summary :I would say that Akatara is underrated.There are $120mm cost pool so they don't pay tax for 2 years. Management believe there is 40% more gas than in CPR and the plateau of production could last 10 years. With very low opex it is a nice, steady income stream for c10 years @ $80m a year

[1ajm] 13/11/2023 16:34

we over here pretending that 5k bopd was priced in, abysmal.

[impossible123] 13/11/2023 14:42

A reassuring update. I'm hoping for more of the same between now and New Year 2024.

Anyone with L2? The selling price has gone up despite there is a persistent seller.

[1ajm] 13/11/2023 13:32

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.

[winnet] 13/11/2023 11:11

Don't say that ASHKV, sends a shiver down my spine, thinking of the next leak!

[ashkv] 13/11/2023 11:05

Solid update - though wonder why no updates on Montara tank inspections etc

[pughman] 13/11/2023 10:40

I use the major shareholders list on the JSE website. Baillie Gifford holding.
30.7.23-8.70%.
30.9.23-8.28%.
30.10.23-7.76%.
Selling 0.5%(2.8m shares) a month, would take until next August to get down to 3%. Tyrus could buy 3.5% and keep them under 30%.

[nigelpm] 13/11/2023 10:28

Might be right - could just be a dilution effect of recent share issue changes

[jacks13] 13/11/2023 10:22

The most recent TR1 from Baillie Gifford (source: Sharepad) is dated 30 Apr 2023 when they reported a holding of 39,195,875 shares (7.25%), no sales have been reported since that date.

[s34icknote] 13/11/2023 10:20

More selling !!

[royalalbert] 13/11/2023 10:10

Cheers Nigel, will have a look.

[nigelpm] 13/11/2023 10:00

A poster (can't remember who) had noticed a reduction in Ballie Gifford month on month here :

hxxps://www.jadestone-energy.com/aim/significant-shareholders/

[mount teide] 13/11/2023 09:57

Good update - the acceleration in the delivery of the Lemang project to 83% completion is very encouraging.....although not altogether surprising, since Japanese contractors have an enviable reputation for delivering major engineering projects on time and to budget.

Also, good to see the Malaysian infill well drilling programme considerably exceed expectation, particularly when the asset has historically had a relatively slow decline rate.

AIMHO/DYOR

[royalalbert] 13/11/2023 09:31

Nigel looking at reinvesting here, can you elaborate on your last post regarding Ballie please.

[nigelpm] 13/11/2023 09:28

We know there is a seller in Ballie - will keep this at bargain levels for some time yet.

[s34icknote] 13/11/2023 09:27

Got a few more at 30.9 shown as a sell

[sea7] 13/11/2023 09:17

gross PM323 production has reached c.8,800 bbls/d in recent days, or c.5,300 bbls/d net to Jadestone.

[pughman] 13/11/2023 09:00

It would have been good to hear what Montara is producing today, as well as overall group production.
On Malaysia, H1 production was 3,878boe/d for PM323 and PM329. The 3 infills have doubled production at 323 to 5,300boe/d, meaning 329 H1 production was circa 1200boe/d. So today both wells are producing 6500boe/d. Does that add up?

[donald pond] 13/11/2023 08:54

Akatara 70% complete on Oct 9, now 83%, should be nearly done by year end. But does look like a seller still around. Rather surprised tbh

[sea7] 13/11/2023 08:51

nice update - I note PB says first infil well is now at 1400bbls/d. After initial flow rates stated back in sept, of 2800bbls/d, they said they expected it to stabilise nearer 1000bbls/d

so, it is performing in line with expectations

83% complete on akatara with 1450 people onsite working - a superb effort

[s34icknote] 13/11/2023 08:49

Still looks like a seller holding this back ??

[croasdalelfc] 13/11/2023 08:41

Yes premiums on top of hedge for virtually all barrels - Montara /PM and CWLH all get smaller premiums

[fardels bear] 13/11/2023 08:31

For 50% of production, isn't it? Rest is market rate. .Do we get the Stag bonus above the hedge price?

[elsa7878] 13/11/2023 08:26

$70 approx