Member Info for marineclark

We have the first green candlestick on the weekly right at long term of 65p, after dropping for 3 weeks straight mostly in the last two weeks. I should have saved a tranche for that price as that was the perfect risk/reward entry. Price now is slowly reversing, but it won't stay at the this price for long. Risk/reward at current price is still excellant, it will get less and less as price goes up 10p..20p+ higher. Price target of 100p+, a 50 percent price rise from current price. As this is slowish share, i setting a two month time frame. Hard to find good shares in the current market.

The catalyst is the montara news. The first well restarted a week ago. 7 to go. It is likely that the next RNS will say that multiple wells have restarted, don't think they are going to release a RNS per well restart. 21,000 Boe/pd is a crap load of cash in the bank. There was a lot of capital expenditure last year, on buybacks, and infill well drilling, and I don't care much for buybacks, but don;t mind expenditure to increase production, or M&A.

DYOR, a GLA. Jsut waiting patiently now.

Correction,

According to Morams report, once Montana is fully operational, total oil production will be 21,000 Boe/d, not the 20,000 I gave earlier. This also doesnt include any production increases or M&A activity expected to happen this year.

only gets better....

Have good weekend Scored. All the best, fingers crossed here. Hope we all make good money.

Thanks Charlie, in the rush to find the RNS i missed the most recent ones, lol.

"As previously reported, 2022 was a year of two halves. Whereas in the first
half, the Company delivered record financial results, the second half was
impacted by the shut-down of our main producing field, Montara. Despite this
temporary setback, Jadestone achieved several notable successes during the
year.

We completed the CWLH acquisition offshore Australia, which adds a strategic
and value accretive asset to our portfolio, including funding 50% of the
decommissioning liability upfront. Additionally, the team on Stag
successfully completed two infill wells, one of which was the longest well
drilled by Jadestone to date. Initial well delivery is ahead of expectations
and provides increased confidence in a number of additional infill well
locations for the future. At the operated Peninsular Malaysia assets, we
made solid progress in improving operating performance and production is up
10% within just twelve months from acquisition, and ahead of any new drilling
activity, with the first wells here planned later in 2023. The Akatara gas
development is progressing well, both in line with cost estimates, and on
schedule towards first gas in the first half of 2024.

Jadestone finished the year with a cash balance of US$122 million. This is a
good outcome given not only the impact of the Montara outage, but also the
significant capital expenditure at both Akatara and Stag, as well as the
acquisition of the CWLH interest and the ongoing share buy-back programme, all
of which were managed within the cash generated during the year.

Finally, we are pleased to report a strong start to 2023, with the recent
acquisition of an initial stake in Sinphuhorm field, and progress towards a
restart of Montara, which remains on track for later this month. We are
engaged in several M&A processes at present, and I am optimistic that we
will be successful in resuming our growth trajectory in 2023, while remaining
very disciplined about the opportunities we pursue."

Charlie, where did you get the figures for "Cash at the end of 22 $122m"?

The Sept 20th 2022 RNS "REG - Jadestone Energy PLC - 2022 Half Year Results and Interim Dividend", stated cash was $161.6 million, debt free. Capital expenditure for 2022 was expected in be around $90-105 million . production guidance for 2022 was around 11,000 to 13,000 , which with higher oil prices would have easily covered capital expenditure.

So i still expect cash balances to still be in that region., but happy to corrected if Im wrong.

Yep that cash figure was for June 2022. In feb 2023, JSe did secure a $50million debt facility from 2 banks so that will help

My appologies Tom,

So at $76 for Brent at 20,000 bod, that is $0.5 billion annual revenues, or $46 million every month. Full production expected in two weeks when the main asset is fully online.
Or at $120 for Brent lets say in a years time, that is $0.88 billion annual revenues.

For a Market cap of £290 million, with $162 million in cash, that is not too shabby at all:)
Feel sorry for the forced seller out there. But good for the rest of us. Got to be in it to win it.

Scored, a small loss is always better than a big one. The spread is tight here so is easy to go in and out without losing to much on it.

65p is a the last line in the defence, support wise, if it does break I will have to reevaluate my position, but would still be looking for a reentry point. I mean 20,000 bod at current crude oil price of $67 wil generate annual revenues of aprox half a biliion dollars, If it returns to $117 a barrel, we would be talking close to a billion in revenue. So lots to be optimistic about.

I don;t think we will break 65p. I knew that it was the absolute low(year) but didnt mind buying slightly higher and taking a small drawdown if it did drop to 65p. It should hold, hopefully. The banking fears are back on the front pages, with Deutsche bank in the news. That's whats causing the mass selling everywhere, barclays is down 6.5 percent.
If it doesnt hold(has to close below 65p) , I will monitor my position and will decide what to do in that event. Shorting the DOW is a good strategy. I saw an opportuinity about 2 weeks ago and more recently 3 days ago, but didnt pull the trigger, could have made a killing.

I like shares which are very low risk, catalyst imminent, and sitting at long term support(year's low). This is a perfect combination for entry. That's why I sold my other holdings and ploughed it in here. No share is risk free, but this is about as good as it is going to get. Other shares may have better rewards, but with equally high risk. I've been in the markets to know that over time, high risk shares will ruin your cash balance. (IOG case in point). It may go horrible wrong here such as an earthquake or massive fraud, but I fully understand the risks. Good luck here and DYOR.

Agreed scored, I just topped up a short time ago, at 68p. To be fair, wasnt exepecting news until last next week for full prioduction, but one well with 3k production at least confirms that the restart is underway. So that is good news. I reckon we will get out 100p+ yet, maybe in a month or two if not sooner. GL.

Thanks for the update SPArmada, that would explain the reaction to the RNS. One well out 8, with the remaining to come online in the coming days(a week or two). That's plenty of time left to get the popcorn and the 3dglasses before the main event.

Charts look good. We a re sitting in region of long term support. As mentioned this isnt the fastest share, but buying at suport levels for a low risk business(zero debt, large cash pile, strong earnings, even stronger when all wells online and oil price goes back up as it no doubt will), is a preferablly to a high risk business with a high chance of losing 50 percent of your cash. Price target of 100p+ is to play for, a 50 percernt profit from todays price. Still a lot to play for. Though patience is required.

Admittedly, this isn't one of the fastest shares around. But I am expecting a strong rise after the montara restart news. I probably should have put more into Barclays, and rode that then put it back in here, but with with news so close I didn;t want to miss out. However, fool me once, not twice, any repeat of the "several days delay" that turned out to be a month's delay, and I'll say goodbye to this share for good.

Price has stalled again, this time much closer to the ultimate bottom at 65p. The last time it stalled it couldnt hold for even a day a few days ago when it dropped to 72p and reversed briefly then dropped again. General markets are seeing a bounce, which should help this stop going lower, even though other stocks such as Barclays which I bought yesterday are bounced hard, I'm already up 6 percent on that. This has barely moved up all. With two more days left to fix the standard fittings issue, montara resumption should occur any day after. I am expecting(hoping) for a rally when news comes and for some momemtum to lift this to 100p+, may take a a couple of weeks. If price doesnt rally I would be bitterly disappointed, but no point getting ****ed because sometimes it works and sometimes it doesnt, thats shares for you. However, fundamentals should win in the end, may take a little longer than expected. GL.

...just topped up now, 65p from here only 6 percent away, so dont mind a small drawdown if it does drop there. However, I'm looking at the dow and ftse, and I see perhaps a a bottoms forming, so I don't want to wait for 65p as it may never happen. New is close now. fingers crossed, and hopefully by the next week and half, we wil be talking about profits instead of loses. However, as always DYOR, as no one knows the future.

Scored, I have support around 70-68p and the lowest support, the bottom, at 65p. Not much point selling at these levels imo, a pence or two(or 3 or 4 in some cases) is neither here nor there, in the medium term. Hard work trying to time the exact bottom, best to get close and leave it, time will do the rest. Short term volatility because of the fears of bank contagion, has caused mass panic selling, and no stock is immune. But the numbers here(massive cash, zero debt, strng earnings), are just too good to pass up. I will be looking to top up, hopefully if a quick drop to 65p.
While oil has dropped recently, I read an article recently that Germany, by 2025 will be in a serious energy deficit. EU got luck with a mildish winter, but with no nordstream, refilling those gas/oil storage is going to be expensive. Expect oil to be going back up soonish.

Profit is profit CHarlottebee, so well done. Price was around 65p in December so you must have banked a decent gain. However, bit suprised you sold out just before the big news around the corner, but each to her own. GL

Price broke out of a rising trend channel last Friday and as expected dropped to a target price of around 70p, given the height of the channel. There is an ultimate support low at 65p, but now that news came yesterday explaining the delay, I don't think it will drop further, unless there are further delays. The price drop appears to have stalled, a good sign, though need a few more days just to be sure. Its worth taking a position as I believe the montara production resuming will drive the price higher, fundamentally it should, more prodution= more cash. The delay did raise a few eyebrows, mine included, but taking the emotion out, a a very brief delay is hardly the end of a company. Lot to play, as I see a price target of 100p+ on resumption of of Montara, thats a 40 percent profit from current price, assuming of course no futher delays. DYOR, as in the background the markets are looking bearish(long term), as well as now, so that could dampen enthusium.

bought some barclays too, thats reach a strong support level, it it breaks I'll sell quickly but I reckon once this bank situation clears up it will rocket back up, bit of risk though if the things get worse.

I sold at 80 p, and bought back in at 73.7p, so thats not bad:)