Jadestone Energy Share Discussion Threads

[mount teide] 06/2/2024 15:41

Diverting crude oil and product tankers are turning to fast steaming - Lloyd's List

'Tankers that are diverting around the Cape of Good Hope are fast steaming, sailing above normal speeds, to cut back on delivery delays. Likewise, rerouted container ships are now sailing at an average of 22 knots, up from 15 knots, in order to maintain schedules.'

This development will have triggered a highly material increase in fuel consumption, since the relationship between fuel consumption and ship speed broadly follows an exponential curve, after a linear relationship up to 10-12 knots. At a 30 knot service speed a ship burns around 9 times the fuel consumed at 10kts, and 3 times at 20 knots.

This development will have only increased the demand for VLSFO and ultra low sulphur Australian type heavy 'STAG Spec' crudes - where since production is largely finite, is triggering material price increases......as evidenced by the Hi5/VLSFO-HSFO spread surging back above $200/tonne over the last month from the $150/tonne average premium seen since October 2023.

[tom111] 05/2/2024 14:55

China is not looking too pretty atm index down to a 5 year low which not helping oil prices on the other hand USA is looking better all the time so where the price goes from here is anyones guess.Ukraine has been bombing several Russian oil terminals at the ports and put them out of action but hasnt had any effect which seems surprising

[mount teide] 04/2/2024 09:05

FPSO tender looming for revived Asian gas project - Upstream Energy - 2 Feb 2024

Jadestone Energy will also be in the market for two platforms for Nam Du and U Minh fields development by Amanda Battersby in Singapore.

'Jadestone Energy within two to three months is expected to hit the market with enquiries for a floating production, storage and offloading vessel and two platforms for its Nam Du and U Minh (NDUM) fields development offshore Vietnam.

Singapore-headquartered independent Jadestone plans to conduct an international tender for the FPSO, which will host gas-related facilities such as compression and a liquids separator, while certain works — such as the two small, unmanned wellhead platforms — will favour yards in Vietnam.'

[ashkv] 02/2/2024 13:53

Just a few days ago Goldman had cut HBR from 300p to 260p and now the clowns have increased HBR to 280p..

JSE cut by uber bearish broker Jefferies - target still nearly 2x current price....

Jefferies cuts Capricorn Energy price target to 150 (160) pence - 'hold'
Jefferies cuts Jadestone Energy price target to 45 (55) pence - 'buy'
Jefferies cuts Pharos Energy price target to 20 (24) pence - 'hold'
Goldman Sachs raises Harbour Energy price target to 280 (260) pence - 'sell'

[tom111] 01/2/2024 10:34

Thanks for posting Ash

[ashkv] 01/2/2024 10:22

Montara
— Assumes offtake shuttle tanker required to September 2024
— Increased R&M activity due to subsea well repair campaign
— Higher logistics cost in 2024 due to less helicopter sharing
Stag
— Higher R&M opex due to catch-up on fabric maintenance and
piping replacements
— Five workovers budgeted

Page 5 of 2024 Guidance Presentation -> Pughman appears not to follow JSE developments...

[ashkv] 01/2/2024 08:02

Montara will soon be a side show...

H1 2023 was an underlift and H2 2023 righted the same - no magic trick.. just logic and not viewing through a troll lens...

Also there was that little matter of the $55mn equity raise...

Why don't you do a magic trick and disappear forever...

Share price more than compensates for 0 Montara production in 2024!!!

31 Jan '24 - 08:13 - 20821 of 20835
0 1 0
It would seem H2 was break even thanks to the liftings. Roughly $60m loss for 2023 (?) and -$130m cash, magic trick.

Roll on getting a COO and no more large issues. Roll on the RNS not being full of caveat statments.

Let's see if that stops the slip!

[ashkv] 01/2/2024 07:59

CEO mentioned in the January 2024 Webinar that they intend to let go of the dedicated tanker ship for Montara by early H2 2024 - it would translate to the Montara Tanks being fully operational for the same to transpire.

pughman31 Jan '24 - 11:08 - 20828 of 20834
0 3 0
There has been radio silence on the oil tank available capacity on the FPSO for eons. I thought they were at 300,000 capacity and that was a long time ago. What's the secret. With all the woes at Montara I understand why opex will be $60 a barrel in 24 but I've seen no explanation why it's the same amount for Stag this year, which has further damaged sentiment. This share has really aged me.

[sea7] 31/1/2024 16:50

Malcy said..

There is nothing much here that we do not know already, the production for last year was 13,813 b/d and given Montara a very creditable achievement. Guidance is a very conservative 20,000-23,000 which I. alluded to in my last piece, it should be a breeze to get through.

Going forward, Akatara is a ☑️ as is CWLH ☑️ and of course the recent news from Vietnam ☑️ and the PSC in Malaysia could even be a ☑️ώ5;️. Right now the time has come for the management to get on with all the good things they have talked about recently and deliver the goods. So far the share price has not taken all our optimism at face value yet but with delivery I’m sure it will…

[tom111] 31/1/2024 16:45

Like Malcy said nothing we didnt know already market not taking it on face value in other words lets see the goods

[croasdalelfc] 31/1/2024 15:55

The company financial calendar is updated fairly well ..

[mount teide] 31/1/2024 14:13

2023 Trading Update:

Total Production Costs - tanker costs at Stag (+US$16 million)

Stag's tanker charter costs were $43,835/day - which is on the high side since a medium range tanker could have been chartered for an average of circa $30,000/day during 2023. Alternatively, they could have chartered a medium range tanker for 3 years at average charter rate of $27,500/day.

The ADDITIONAL OPEX/bbl in 2023 to CHARTER the tanker deployed at the Stag Field was around $18/bbl. Considering that the total OPEX/bbl for the Stag field has historically been around $40/bbl.......this suggests, at the guided level of production, a total OPEX/bbl in the $50-60/bbl range was likely. Suggesting, that at an average $80 Brent plus $10 premium, the field still had the potential to generate around circa $30m a year in operating cash flow pre Capex etc.

[minja19] 31/1/2024 12:35

updated
trades 52 to 68 are all buys.
reported as sells, cos they were below the mid

[pughman] 31/1/2024 11:08

There has been radio silence on the oil tank available capacity on the FPSO for eons. I thought they were at 300,000 capacity and that was a long time ago. What's the secret. With all the woes at Montara I understand why opex will be $60 a barrel in 24 but I've seen no explanation why it's the same amount for Stag this year, which has further damaged sentiment. This share has really aged me.

[impossible123] 31/1/2024 10:04

A good consolidation RNS. More of the same in the near future plz.

[mount teide] 31/1/2024 09:25

Montara Venture - during Q2/2024 the management should have more than sufficient oil cargo tank capacity back available for commercial operations to enable the off-hire of the stand-by tanker earlier than planned - as, going by the management's published tank inspection and maintenance plan crafted to return the FPSO to full compliance with the Rules governing its safe operation, the off-hire date previously guided to the market for the release of the tanker has a considerable amount of insurance policy built into it.

[winnet] 31/1/2024 08:57

but I would now prefer to play with fire re the tanker, it's costing us too much relative to the risk. Especially when Akantra comes online.

[sea7] 31/1/2024 08:55

not bad at all.

Having that tanker at montara takes away a large portion of risk - hence why PB has it there.

[1ajm] 31/1/2024 08:48

yes,

The dread of the RNS title being 'montara operational update' is real.

Not today though! Today RNS read fairly well.

[winnet] 31/1/2024 08:24

Agree with MT, I shake a little bit each time there is a RNS, but this time, pleased with the information. Onwards.

[1ajm] 31/1/2024 08:13

It would seem H2 was break even thanks to the liftings. Roughly $60m loss for 2023 (?) and -$130m cash, magic trick.

Roll on getting a COO and no more large issues. Roll on the RNS not being full of caveat statments.

Let's see if that stops the slip!

[lawson27] 31/1/2024 08:07

Happy enough with the RNS, onwards and upwards, GLA

[tom111] 31/1/2024 07:56

Reassuring RNS