Member Info for Charlie156

The revision of the numbers on the LA field are disappointing, its turned into a real non event.

Oct 26, I'll take that.

That's a brusque statement for a COO leaving a very successful business, making a lot of money in a very short timeframe. I found his presentation style dour, but couldn't fault the answers he gave. There is more to come here.

SD will be paying dividends in the future, as he has said and the rapid cash build indicates it will be sooner rather than later. If you have a problem with that, forward your AI response containing the reasons not to, onward to Mr Day.

Legache, with Montara and Stag making up about 45% of current production, I'd describe JSE as a money pit, not a cash cow. They have had money pouring in from Akatara in 2025 as part of the repayment scheme, yet debt has increased without asset sales. They have 1 year left of these payments, before the returns from Akatara drop sharply. Unless the oil price rises well above today's level, I don't see that happening. Regarding Skua, I factored in a 7% decline rate in H2 , which means Skua added about 1000 bpd to annual production(105x3500bpd). It would help if the company updated shareholders on production after spending so much of our money, so this is my reading. I am becoming increasingly pessimistic about the future, but since I probably have the highest average of anyone on here, my views of JSE are seen from that perspective.

Ex- Shareholder here, who made a complete horlicks of his last trade and sold far too soon. I think part of the fall is down to Bumerangue, while 8 billion barrels still makes it an enticing project, it falls short of the numbers that were being suggested.

Nice to see only 60 posts today and a break from the relentless sales pitch for GGP.

JSE have had 1 year in the cost recovery phase of taking nearly all the revenue at Akatara, yet without the Sinphuhorm sale, net debt would have increased for the year. H1 revenue was $228m, H2 $180m. With Akatara revenue growing in H2, the numbers for Australia and Malaysia will be poor. I have just looked at Malaysia's H1 25 performance, rev of $25m and $2m profit, against H1 24 revenue of $50m rev and $15m profit, so the decline from the previous successful infill has been rapid. Two years of high oil prices are needed to come to the rescue here and never spending a dollar more again on any Australian asset.

Costs down 14%? Akatara production in 2024 was 977boe/d against 6100be/d in 2025. As by far the lowest cost producer in the portfolio, that is the reason costs per barrel have reduced with such a large percentage increase in production. Take that away and its another story.

If they hadn't sold Sinphuhorm for $40m net debt would have increased by $25m. People need to go back a year and reread the posts for the 2024 trading statement on Feb 25, 2025. If you start from the day before, the anticipation of what was to come through to the reality, it's uncomfortably familiar. Then as the share price fell from 31 to 28 pence, claims were made about Akatara that are being made about Vietnam today. Always jam tomorrow, facts are the portfolio of assets is not very good and the management even worse. It's all about producing cost effective barrels, Skua should never have been sanctioned at $62m, let alone $100m. It was a vanity project to improve the appalling metrics at Montana, a legacy of the fiasco and mismanagement of the oil spill. Malaysia should always have been the next project, off the back of the previous successful infill and the very promising data. Just waiting for the next $60 Stag infill to put another nail in the coffin.

The Chairman has said in the last 2 calls that they are open to offers on any asset, which means Akatara will be sold when the pathway to Vietnam is clearer. Probably end up owning just Stag and Montara.

Deeko, the company said Skua initial production was 6000bpd, I'm implying nothing you weasel. The company said Skua would produce 3500bpd at a cost of $62m, that increased to $100m, partly due to the reservoir being bigger than expected. I contacted HR, asking for the market to be given an update on Skua, and was fobbed off by the real chancer who is running HR. The culture of the company is rotten, to spend $100m of shareholders money in such an irresponsible manner is endemic of life at JSE. Net debt at Aug 31 was $53.5 with liftings, net debt 5 months later is $89m with liftings. Now it's all about Vietnam, this crew are incapable of providing shareholders with any return or hope. The Skua $100m should have been used to close down Stag, take the hit and move on to Malaysia, instead they are going to drag it out till 2035 and continue to torture shareholders. Looking forward to the full results and your $28 cost per barrel for Australian production.

Poor RNS. Annual production and net debt reduction underwhelming. No mention of Skua production numbers, only repeated references to the increased cost of the project. Half year production was 20,368, they disposed of Sinphuphorm in H1 which accounted for 898 bod and saw annual production fall nearly 500bpd despite spending $100m on Skua, which was producing initially at 6000bpd, so the decline has been catastrophic over the last 4 months of the year. An appalling use of shareholder funds. Net debt was $107.6m on June 30, $53.5m on Aug 31 and $89m on Dec 31. They had a strong hedge in place for Q4 and Akatara is storming it, which means as I have continually said that Stag and Montara are duds in this oil price environment. What a miserable investment.

I'm still bullish, my next Maserati will be made with GGP gold.

Can always rely on you 2 reappearing, when you think the panic is over.

Gold still A$7500, am I missing something?

Decimated? It's a healthy correction, grow a pair and stop whining.

I can't work out if you get more drama queens on here, when the share price rises or falls.

SD wished the guy a HNY back, so are you calling our great leader a twat

I see the Net Revenue figure in the last 4 quarters has ranged from $458-507m. That's quite a tight band, with the gold price going bananas, it almost feels its been targeted.