Peter braily comments SP article13 Nov 2019 09:32
Each writer on this site contributes independently of the others – we write about investment cases that grab our attention. Negative investment cases are often easy – a piece of ****e is just that. I would suggest it is not often several of us agree on a positive investment case. Looks like Jadestone Energy (JSE) is one. I will try to be brief. I keep telling myself, and Tom, an objective of less words is good, along with calling companies singular and finding negative investment cases that keeps Tom’s pecker up in his lustful ambitions on Cheryl Cole…
Back in June this year I called Jadestone a buy, at 58.5p. Malcolm Stacey called it a buy a few weeks later at a similar share price. Gary Newman did not call it a buy until mid-September, when the share price had dropped to around the 50p mark. I bought more to add to those previously bought at sub 40p on his comment. Is Gary just jammy or just very good at this malarkey? I think the later…(most times Gazer!) Regardless it’s now trading around the 60p mark, so we can all breathe comfortably. It’s been a good call by us all.
We all commented on the embedded value of the current production and future projects currently sat on the balance sheet as assets to be developed. Those future projects have moved forward towards development, and the current oil production is attracting increasing premiums over brent oil price. It’s all gone to plan. I feel comfortable, as I suspect do Malcolm and Gary on recommending the shares.
Meanwhile, I read that the “Australian” broadsheet newspaper is stating Jadestone is in the running to take over some Inpex Western Australia assets. This looks very interesting with serious quantities of daily production as part of the deal. Let's see how that develops, but regardless of this potential deal occuring or not, I'm currently happy to maintain my stance; buy.
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