Member Info for poacher45

CWLH when they get approval it should only take 2 or 3 weeks.

Stag after approval will take a long time possibly last quarter of year.

Very happy upbeat directors. Not as many people there as last year.

Director confirmed that no dividends will be paid for at least 3 years because of the terms of the bond issue.

I sent my thanks to Tyrus for getting the bond successfully launched and there large participation because

this was obviously set up before the large spike in the oil prices.

I suggested to Andrew that to get rid of these wild swings each year with the impairment charge could it not

be taken as the price of oil on the last day of the financial year but as the average over the last 5 years. Unfortunately this is an industry stipulation so there is nothing we can do. So it will probably yoyo back the

other way at the end of this year.

Stag for you to get a feel of how bad the typhoon was the waves were over 60 feet high.

They are awaiting regulator approval of repair plans.

CWLH This will hopefully be a quick repair once they have regulator approval.

The same goes for Pen-Mal they are waiting for regulator approval.

Vietnam 3 years ago I was told it was such a big project we would only keep between 20-30%. Now the wording

is we could keep the lot if we wanted but the feeling is they will now keep 60%. On the huge success of Akatara

this is small in comparison to Vietnam and Vietnam will generate cash for decades to come.

Mitch is really happy to have come out of retirement and join Jadestone. He is determined to grow the company but will not pay over the odds to achieve his aims.

One final point is that shareholders must remember with Vietnam this has been a very long project and it has

cost the company a lot of time and money to get this far. So any potential partner will have to pay his share of

that cost.

This is the price in Australia in dollars for Brent and 10 dollars premium for Tapis.

https://www.aip.com.au/pricing/international-prices/international-market-watch

We have hedged oil prices at 69$. I would rather not hedge and take the market price. In fact I would buy back all the hedges for July, August and September. This conflict is not going to end any time soon. Even if it did I have seen reports of over a year to bring back production. The last tanker from the gulf gets to Britain on April 10th.

after that if you want fuel it will not be what the market price is but what you are prepared to pay for it.

Https://r.search.yahoo.com/_ylt=Awr.nzyE.MNpQgIA9jJLBQx.;_ylu=Y29sbwNpcjIEcG9zAzEEdnRpZAMEc2VjA3Ny/RV=2/RE=1775660420/RO=10/RU=https%3a%2f%2fofferings.arctic.com%2fdcm%2fJadestone-Energy-Investor-Presentation-20-March-2026.pdf/RK=2/RS=xzUXg511B5fQrCMHVbna4q3Bg3I-

A very detailed offering

Gas supply in Vietnam is facing difficulties due to the conflict in the Middle East.

The domestic gas market is facing significant volatility as gas supply is being tightened.

Báo Lào Cai

Báo Lào Cai

•

04/03/2026

Domestic gas prices are facing significant fluctuations as supply is tightened. At the same time, global prices are continuously rising due to conflicts in the Middle East, leading to reduced gas sales for retailers.

Các công ty gas lo lắng nguồn cung thiếu hụt kéo dài khiến giá tăng cao.

Gas companies are worried that prolonged supply shortages will lead to higher prices.

A representative from a gas company stated that their unit still primarily purchases gas from PV Gas Trading Company. As early as the sixth day of the Lunar New Year, the company announced a reduction in supply to its main distributor.

Normally, the company receives between 72 and 93 tons per day, but now it's only 24 to 48 tons per day. Furthermore, the company recently announced it would stop supplying its distributors starting in March. This week, the parties will hold an emergency meeting to discuss the supply situation.

Several gas companies have stated that domestic supply currently only meets about 30-40% of demand. The remainder must be imported. These companies have requested permission to refill gas cylinders into 6kg containers if supply is scarce, in order to ensure service for all customers.

If there is a severe shortage, people will switch to electric stoves. Once the market stabilizes, convincing customers to return to gas will not be easy.

Besides supply issues, gas companies also reported that world gas prices are rising daily. At the beginning of March, gas prices were forecast to increase by $24/ton, but have now surged to $54/ton. This is equivalent to an increase of nearly 20,000 VND per cylinder.

If the situation persists, prices could continue to rise by another $100/ton, equivalent to an increase of approximately 40,000 VND per 12kg cylinder.

Many organizations have reported force majeure situations.

Several gas distributors have reported receiving notifications from Vietnam Liquefied Petroleum Gas Company Limited (VT GAS). The company predicts that the supply of gas in March is likely to be unpredictable due to the complex global situation. The company advises customers to proactively plan their gas purchases and business operations.

VT GAS is committed to supplying sufficient gas in March at a level equal to the average production of the previous three months.

However, customers must receive at least 60% of the production volume between March 1st and March 20th, 2026. If this level is not met, the company will only provide an additional 40% of the average production volume for the remaining days of the month.

Earlier on March 2-3, PV Gas Trading Company sent an urgent notice to customers in the Southern region. The notice mentioned a force majeure situation related to supply.

Their supplier announced

This is looking very serious

Crude oil price surges to $115 on Hyperliquid as Kuwait, UAE slash production

Velesto awarded Malaysia jackup drilling contract for East Belumut field

February 25, 2026

(WO) - Velesto Energy Berhad has secured a drilling contract valued at approximately $16.5 million from Jadestone Energy (Malaysia) Pte Ltd. to support infill drilling operations at the East Belumut field offshore Malaysia.

The contract, awarded to Velesto’s wholly owned subsidiary Velesto Drilling Sdn Bhd, will see the premium independent-leg cantilever jackup rig NAGA 8 deployed for a four-month campaign beginning in March 2026. The work will support Phase 9 development drilling at the East Belumut field.

NAGA 8 is capable of drilling to depths of 30,000 ft and operating in water depths of up to 400 ft. The rig will conduct infill drilling aimed at sustaining production from the mature offshore asset.

Velesto said the award reflects continued demand for jackup drilling services in Southeast Asia and supports fleet utilization in the region. The company operates a fleet of six jackup rigs and two hydraulic workover units, with operations spanning Malaysia and other Southeast Asian markets including Indonesia, Vietnam, Thailand and the Philippines.

Akatara is worth £200 million just on its own.

It cannot be Tyrus because of the result announcement next week.

Akatara was valued by a director at the AGM as being worth $300 million.

Jadestone will probably make £80million this year on a market cap £125 million.

One expert has just said it is the cheapest oil share in the universe and should now rapidly rerate.

Chances of getting a share so cheaply only come around every 2 or 3 years

At the AGM the director stated that it was worth $300 million.

Last nights Antiques Roadshow showed how Akatara got its name:-

https://www.bbc.co.uk/iplayer/episode/m0022v6h/antiques-roadshow-series-47-3-firstsite-1

Go to 52.20 mins

From the updated Jadestone site I noticed the following information:-

Jadestone believes that further interests in the asset are likely to become available, and holds a general, but not priority, pre-emption right in respect of any future sales of CWLH interests.

When I asked in March I was told that at that moment it would not be possible to buy

anymore CWLH.

I do hope that tomorrows interim results can start a rerate for Jadestone to a price

at least comparable to similar companies.

Train cancelled so unfortunately I cannot make the AGM. Will it be any better under Labour I can remember the old

saying not nationalized but paralyzed.

Have to disagree with your figures ROXI. It cost us 20 million plus the new plant 100million. When we bought it we inherited a 100million loss. Once in production the first 200million of profits come back to Jadestone to cover costs. After that we are left with a fantastic new gas plant generating profits for many years to come. At this moment in my estimation it has got to be worth 300million dollars.

Two years ago the share price was four times today's price and production was half what it is today. Plus Akatara is very very close to coming on stream. The oil price is staying up . When this share comes back after suspension the only way is up.

Get in quick Charlie or that short will kill you.

Percentage finish at Akatara is determined by the percentage of large components

delivered to the site. Obviously with dignitaries having full diaries a date will be arranged for the switch on but in reality gas will be running before then. There is now 2000 people working on the site.

Paul said in over 40 deals that he has been involved in there has never been a leak.

Also it was not from Jadestone's side as it provided them with new information. Once the leak happened they had no alternative under the stock market rules and were forced to suspend dealings immediately. Paul said the deal is only in the very very early stages and as pogue says it could be suspended for a long time even if Jadestone decide to pull out. He also said do not believe what the papers say.

Paul also made the comment that they are roughly producing twice as much as two years

ago but the share price is a quarter of the price. Sometime reality will set in.

In getting this information I got virtually the last bottle of beer and the locusts

{press} had eaten all the food.

Today Paul is doing an interview with Malcy's