Member Info for dai2belts

..........................................................
@KevR, you mentioned 88e yesterday being postive, buy prices looked higher than usual....???

Its being pushed down today, 3x big sellers on the lows ??
Stop loss hunting maybe, 0.4323-0.4223-0.415 ,
probably 10% below yesterdays late selling prices

https://invst.ly/-vuu1

27-Apr-23 13:55:37 0.439 112,654 Buy* 0.40 0.45 495.00 O
27-Apr-23 13:55:12 0.440 174,331 Buy* 0.40 0.45 766.71 O
27-Apr-23 13:39:14 0.43999 250,000 Buy* 0.40 0.45 1,100 O
27-Apr-23 13:35:50 0.415 8,442,390 Sell* 0.40 0.45 35.04k O >>>>>3rd taking way below ??
27-Apr-23 13:32:09 0.445 89,887 Buy* 0.40 0.45 400.00 O
27-Apr-23 13:29:02 0.4223 8,000,000 Sell* 0.40 0.45 33.78k O >>>>> price down, why sell big now
27-Apr-23 13:23:56 0.4325 9,249,940 Buy* 0.40 0.45 40.01k O >>>>>looks a sell
27-Apr-23 13:23:51 0.4495 50,000 Buy* 0.40 0.45 224.75 O
27-Apr-23 13:23:19 0.4396 30,000 Buy* 0.40 0.45 131.88

Cant trust many AIM companies, to paint a clear picture, always a twist..

................................................
Not sure what changes lse were making to their site, my browser hates them, 100% CPU usage, on chat page, took a couple of logins/out to get it reasonable.. sitting near 5% now, wow

@Tro, JSE Management cant be trusted, not crooked but twisters..
Sept 2022 update, "JSE remains debt free", yet a deferred tax charge of US$26.9M was looming.
Thats a debt to the tax man in my book, equal to the current years payment , it wiped out 44% of the pre-tax profit..

Thats some Freudian slip....

Cant push the one without the other, especially carrying such a big impact,,

Anyway production for 2022, was back to 2020 levels, along with share price..

The tax charge of US$54.0 million in 2022 (2021: US$12.8 million) which includes a current tax charge of US$27.1 million (2021: US$7.3 million) and a deferred tax charge of US$26.9 million (2021: US$5.4 million).

@Tro, there is a doubly whammy there..
Oil coming down reducing profit, and for JSE production reducing(montara) so cost per barrel increasing ..
Probably price was fixed in hedging, next thing to look at, for how long and how much..

· In line with previous disclosures, adjusted annualised unit operating costs2 for 2022 were US$37.49/boe, compared to US$26.22/bbl in 2021, primarily due to the lower production from Montara and the non-operated PenMal Assets;

So that tax was a big portion deferred tax, lucky they were not in Europe, UK 75%, and Kistos were hit with legacy taxes(previous years)
£62M, at 75%, would have been £46.5M to the Gov
£15.5M Not enough to pay the deferred tax.....

@KevR, I dont know, unless your good at reading financial docs, a 7am RNS is just not enough time.. Overload, too much info to comprehend.. Best sell if the price is dropping.. unless your dumb like me and think its even more a buy so hold.. :) mmm :(

Easiest detail to pick up on was with current production at 10,000 boed...
Production is expected to be between 13500-17000boed last 9 month of 2023, with another 5000 foretasted by mid 2024..

Then this stood out
Montara is expected to be 20% of production mid 2024, from 80% in 2021, .
It suggests just 5,000 boed, its producing 4700-5000 with just 3 wells on line at the moment...
Well it was shutdown 8 months, so where has that oil gone, are they not bringing all the wells online ???
Its already a sore point...statement does not sound good, another twist.. at first glance..

I think the 20% is fished out of the air,, as they did'nt give another source of production for the increase..
It was producing about 7400boed, plus they have a new asset adding ~1600boed, so that will take them to between 13500-17000

On conspiracy it plays to the II, everybody sells and they buy cheap after off-loading at 90p..
Analyst now rating it up to £1.20.

The resident posters telling everybody they sold

bad up date, that 20%..
I think it was supposed to show they were diversifying, lowering their dependence on Montara

I dont know, just another slap with a wet fish for me.. ;)

Not another 121 meeting, 3rd year of attending. lol

Skittish your never going to get your money back, being honest, its AIM

...............................................................
@Tro, I thought I read to the bottom of that RNS, 45 minutes and did'nt touch it..
Too dumb for this game, sell before news, buy after ......
head hurts now

The tax charge of US$54.0 million in 2022 (2021: US$12.8 million) which includes a current tax charge of US$27.1 million (2021: US$7.3 million) and a deferred tax charge of US$26.9 million (2021: US$5.4 million).

The tax paid during the year included US$18.5 million of corporate tax payments and Australian petroleum resource rent tax ("PRRT") tax refund of US$1.1 million in Australia,

plus US$15.7 million of PITA tax in Malaysia.

Australia Taxes
Actual effective tax rate of 46% for Montara

The Australian corporate income tax rate is 30% and PRRT is 40% which is cash based and income tax deductible.
The combined standard effective tax rate is 58%, the actual effective tax rate of 46% is lower predominately due to the utilisation of PRRT credits brought forward at Montara. Montara has approximately US$3.5 billion of unutilised PRRT credits and is not expected to incur any PRRT expense over the economic life of the asset.

Malaysia Taxes
Malaysian petroleum income tax ("PITA") is a PSC based tax on petroleum operations at the rate of 38%. There are no other material taxes in Malaysia.

@Horult, I run ancient stuff too..
Way more spec than need for web browsing, but OS updates stop, and eventually your browser becomes out of date..

But he could have something like a printer server process running in the background..
I did, it took enough memory to cause problems in a sluggish system, when running hungry processes...
It had some name, that did'nt suggest its purpose..

His browser maybe opening, but not closing threads especially if there are incompatibilities with third part background scripts, youtube uses many..
Close the browser when finished instead of leaving it open all day,..or after using sites like youtube..

What he could do depending on its use, is run a different operating system,..
I believe you can start the computer of a memory stick loaded with something suitable like Linux. There was one being advertised a few years back by a on-line company..
.
Could set the PC to boot from stick as option 1, then PC OS option 2..
So with no stick inserted it will boot as normal..

Could just need a good de-frag..

Its nationalization by stealth, just when its over, March 2028 there is no privatization to go through..
Gov do the damage, then let it go..

I guess as Montara is off the coast of Australia , they pay tax there not the UK...?
It does not look like they had to pay extra in 2022 in Aus...

"Australia already has a special tax for offshore oil and gas projects, known as the Petroleum Resources Rent Tax (PRRT).

It taxes profits from those projects at 40 per cent, on the grounds they are commonwealth resources — so the Commonwealth should share in the profits."

How times have changed..
As at 2020-21, according to tax office data, the industry was carrying a total of $283 billion in future tax deductions from expenditure.

https://www.abc.net.au/news/2022-11-07/federal-goverment-windfall-tax-on-gas-profits/101616484

..................................................
LSE is hammering my CPU today..
Seeing regular +100% utilization, two tabs open hitting 150% :(

................................................................................
This have my conspiracy theories going...
A final rise to +90p, which failed to hold even though Montara was always coming back on-line, and drop to 55p..
And now target price +£1

Peel Hunt ,,,......Analyst Matthew Cooper Rating Updated on 26 April 2023 Buy with Target Price 100p
Panmure Gordon,,,, Analyst Ashley Kelty Rating Updated on 26 April 2023 Buy with Target Price 110p
Jefferies ,,,,,,,,,,,,,,,,,,,Analyst Mark Wilson Rating Updated on 25 April 2023 Buy with Target Price 85p
Stifel,,,,,,,,,,,,,,,,,,,,,,,,. Analyst David Round Rating Updated on 25 April 2023 Buy with Target Price 120p
Investec,,,,,,,,,,,,,,,,,,,, Analyst Alex Smith Rating Updated on 14 March 2023 Buy with Target Price 95p
Berenberg Analyst James Carmichael Rating Updated on 17 November 2022 Buy with Target Price 105p

A Rise to 90p, probably on the back of Montara expectations, in the end an update which resulted in a downtrend..
At 55p.. ratings upgrades average 102p...

Interesting....

Post, thanks to ****nal58,

Thats hard to read.....

If you recall some of the below analysts where on the investor call yesterday...
Jadestone Analyst Recommendations per Bloomberg Terminal

6 Analysts Rate Jadestone Energy (JSE)
All 6 Have Buys
Average Analyst Target Price as of 26 April 2023 = 102p

Peel Hunt ,,,......Analyst Matthew Cooper Rating Updated on 26 April 2023 Buy with Target Price 100p
Panmure Gordon,,,, Analyst Ashley Kelty Rating Updated on 26 April 2023 Buy with Target Price 110p
Jefferies ,,,,,,,,,,,,,,,,,,,Analyst Mark Wilson Rating Updated on 25 April 2023 Buy with Target Price 85p
Stifel,,,,,,,,,,,,,,,,,,,,,,,,. Analyst David Round Rating Updated on 25 April 2023 Buy with Target Price 120p
Investec,,,,,,,,,,,,,,,,,,,, Analyst Alex Smith Rating Updated on 14 March 2023 Buy with Target Price 95p
Berenberg Analyst James Carmichael Rating Updated on 17 November 2022 Buy with Target Price 105p

Analyst don’t seem too agree with the majority on this blog

....................................................
@Tro, I thought it was 75% for UK, then they can get back 90p in the £1 through investment, no need to wait for production..

I will need to download the full results and see whats JSE are paying and to which countries..
See if those repairs and acquisitions are classed as investment or are worthy of tax rebates.
But no mention in the news articles which are usually written to highlight important points..

Seeing taxes that high, then you have to ask how they let so much go to the tax man,
I guess thats why they are going to net debt, make acquisitions now buy borrowing, and pay back with money that would other wise go to the killer tax...

..................................................................
88e, till not tradeable unless you buy big,

getting trolled by the usual guy, even if he is right it is trolling..same message all the time...

Then again 88e posters show little interest in the fundamental, or know better than to discuss them?
I believe the Management have mislead again, ...
Not given the details just in case the trolls pick up on it, ....

Could be people are expecting a resource upgrade, that may lead to an increase n the lead up ????

.....................................
Is your Lse still showing yesterdays chat count and yesterdays RNS count..
I sxeem to be showing yesterdays and todays RNS..
Missing charts too,

JSE, now into end of 2020 prices.........

Jadestone Energy PLC - London-based oil and gas production company, focused on the Asia-Pacific region - Pretax profit for 2022 is USD62.5 million, swinging from loss of USD4.3 million a year earlier.
The company also reported a profit after tax of $8.52m for 2022, swinging from a loss after tax of $17.07m in 2021.

How do you get from Pretax profit of USD62.5 million to a profit after tax of $8.52m...??
Any ideas how such a big difference ?
thats +85% tax

Revenue up 24% to USD421.6 million from USD340.2 million, even though Montara was off-line for 8 months(i believe)
Production, however, decreased to 11,487 barrels of oil equivalent per day in the 12 months ended 31 December, from 12,545 equivalent daily barrels year-on-year.

"We have since undertaken an extensive 8-month shutdown,"

Down only ~1000, bbls/d,
MMmm 8 months of averaging 7,647 bbls/d, production lost from shutdown, thats .1.7 mmbbls, thats about 4,692 bbls/d lost...... production must be up elsewhere ????

https://www.lse.co.uk/news/JSE/trading-updates-round-hill-music-and-jadestone-energy-swing-to-profit-da01tne7661h5t5.html
https://www.lse.co.uk/news/JSE/jadestone-swings-to-profit-in-extremely-frustrating-year-dm67r2qiw4n0725.html

..............................................................
Think the figures are random generated...
", so while Montara was 80% of our production in mid-2021, it is expected to be 20% of our production by mid-2024."

These figures, 73%, still out but closer
2021 H1 9,934 bbls/d
The Montara assets produced an average of 7,269 bbls/d in the first half of 2021

And 80%+20% = 100%
I wonder how many safe guarded profit and sold reading 20%..

@Spike501, maybe the percentages are wrong...??

", so while Montara was 80% of our production in mid-2021, it is expected to be 20% of our production by mid-2024."

using these figures Montara accounted for about 61% of production

2021 production averaged 12,545 boe/d, in line with expectations and the guidance range, with Montara averaging 7,647 bbls/d, Stag averaging 2,359 bbls/d and an annualised contribution of 2,539 boe/d from the Peninsular Malaysia assets.

These figures, 73%
2021 H1 9,934 bbls/d
The Montara assets produced an average of 7,269 bbls/d in the first half of 2021

And 80%+20% = 100% ?

@PortfolioPower.. Thanks
Share buy back was not the best use of funds, by the looks of things..

lol, Short Cycle,, Montara being 20% of production by 2024( top end forecast 22,000 boed), while it accounted 80% or 10,000 boed in 2021.. (using the quoted 12,545 Boed for 2021) ???

Something wrong with that 80% figure, as Montara contributed 7,647 bbls/d, so maybe 20% is wrong too rather than depletion,
I make it 61% 7,647/12,545=0.609

2021 production averaged 12,545 boe/d, in line with expectations and the guidance range, with Montara averaging 7,647 bbls/d, Stag averaging 2,359 bbls/d and an annualised contribution of 2,539 boe/d from the Peninsular Malaysia assets.

Also another 1,600 boe/d needs adding to Montara
The Sinphuhorm acquisition adds 4.6 mmboe of 2P reserves at the effective date of 1 January 2022 and approximately 1,600 boe/d of production net to Jadestone based on current rates,

Mmmmmm, thats enough off that...

...............................................
Should have checked the share price, on Exalo rig update...
Nov 22nd MOU announcement, Shares in Helium One Global were up 11% to 6.54 pence in London on Tuesday midday.

@KevR, finding conflicting information, especially with some saying a MOU is binding, other not..
But Exalo MOU appears non binding unless there was a condition..

So could be LOI to signing contract..

But my reading suggests if using LOI Noble and He1 will have separate contracts...

LOI
A letter of intent is a document declaring the preliminary commitment of one party to do business with another.
But this says two between 2 parties so SOFORI and Noble, or He1 and SOFORI, ???

MOU
A memorandum of understanding (MOU) is a document that describes the broad outlines of an agreement that "two or more" parties have reached.
This one is two or more parties, He1, Noble, JV Partner(funder) and SOFORI ???

Main Difference
The primary difference between the two is that a letter of intent is not binding, whereas a memorandum of understanding is considered binding and carries weight in a court of law.
This seems to be conflicting.....non binding... ???

https://www.investopedia.com/ask/answers/042715/what-difference-between-letter-intent-and-memorandum-understanding.asp

https://www.linkedin.com/pulse/loi-mou-what-differences-between-them-mello-commodity?trk=pulse-article_more-articles_related-content-card