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A lot of negativity around however there is a lot of cash being spent on gas production early next year, this and the acquisitions are reasons for the reduction in cash balance plus drifting into debt.
Jse is still a growth company production is steady and oil prices holding at good levels, with further acquisitions to come.
Not sure why the additional compressor and service of the current one hasn't been dealt with during shutdown but I suspect there will be a good reason.
What is being put into place now will ensure increased production and revenue next year.
Honest update we know were we stand.

Great news, will the mud slinging stop here?
Somebody is trying very hard to stop Sepl from reaching its full potential, still it's another obstacle out of the way until the next one.

Today Rh has had a bounce $7900, Pt 1025 and Pd $1450
Car manufacturers worldwide have increased production figures since the start of the year, it seems only the UK has increased sales of EVs but they are way behind ICE sales as a percentage of sales however the increase is a suprise though considering the incentives to to buy EVs was dropped in January.
So is today the day we see recognition that the manufacturers are finally running through their stocks of Rh and other PGMs and are beginning to restock via the market?
If production continues at current levels then that increase will in time flow through to PGM demand and price increases, as suggested by Mining Weekly.
Germany also pushed back on the demise of ice vehicles in 2035 by getting the EU to agree and state if they run on e-fuels synthetic petrol and diesel then that's okay, expect more back tracking in the following years that's the first foot in the door to slow down the transition.

With the gold price breaking $2k we should be generating plenty of free cash flow, combined with significantly reduced debt repayments in the short term the company will have sufficient cash to drill and prove up resources at Makosa, Maka, Mansa and Sambara meanwhile we wait to see how this all this exploration pans out.

Great update today and some good news regarding the Talara refinery now in production and expectation is for 100% this would suggest the outlook is improving for the onp pipeline.

https://www.petroperu.com.pe/english/authorities-carry-out-an-inspection-visit-to-the-new-talara-refinery

Snippet from Precious Mining Weekly full article download from link below.

Balancing these demand and supply changes, we expect to see a market deficit of 631koz this year. This is a similar magnitude to the deficits seen last year (625koz) due to similar year-on-year growth in supply and demand. Factoring in the above short-term drivers, macroeconomic picture and fundamentals, we arrive at an annual average of $1,690 for 2023, up several hundred dollars on current levels. This includes the price peaking above this level at a high of $1,980, failing to recuperate a $2,000-handle before eventually falling back. With two years of annual deficits totalling 1.3Moz, the recent price weakness seems counter-intuitive. However, we believe that similar factors as those discussed in last week’s Weekly, which focused on the impact on the rhodium price, are at play for palladium. Automakers currently hold an abundance of PGMs, as they bought a larger quantity last year than they utilised. This overstocking has left the industry with an unusually long position in palladium, undermining their near-term demand requirements. Furthermore, this outcome has led to gloomier investor sentiment. Adding to investors’ concerns is the awareness of projected surpluses in the coming years.

https://metalsfocus.us3.list-manage.com/track/click?u=65e61541e75b9ce36f9b00274&id=8ccfe2d2e3&e=bf06856695

In the suit, Seplat asked the court to declare the use of its official letterhead by Orjiako to make an offer in the sum of $300m, without recourse to the Board, a clear breach of the terms of their subsisting consulting agreement and a breach of the Companies and Allied Matter Act, 2020, among other issues.

From the above it will be interesting to see what his explanation is for offer of $300m for what and to whom

I don't understand what some posters expect here, do think starting up production after being shutdown for months is just the same as turning the water back on when you return from holiday?
Common sense would say there will probably be further issues as more wells come back on stream items of kit, seals, valves and sensors etc which may have to be replaced, nothing major but regular issues which come to light as a pipe run comes back into use, items that can only be tested fully under pressure.

Precious Metals Weekly features Rh this week and reports on the outlook and supply download the article from the link, things are not as bad as Rh price suggests as the fundamentals are strong.
https://mailchi.mp/metalsfocus/precious-metals-weekly-5386878?e=bf06856695

Three are plenty of oil companies to pick from if folk are uneasy with the management here and their running of the company, or if you have lost trust in their ability to run it effectively then its time to find a new place for your money.
If you happen to be a day trader then obviously today's action will come as a big disappointment with such a muted response to the long drawn out procedure to get back to producing oil again, albeit we wil be nowhere near full production levels which will take time, however to restart production is brilliant news to me.

Pleased to see we are back in production, some very encouraging words from our CEO for the rest of year with more acquisitions in negotiations, it will be very interesting to see what deals he can pull off.

"I would like to thank everyone in Jadestone who has contributed to the safe and successful restart of Montara operations as we look forward to putting this challenging period behind us and returning to business as usual. It is a relief to see operations at Montara being restored and we look forward to increasing production and cash flow. We also plan to return to growth, having completed three acquisitions within the last six months, with several new acquisition opportunities in the pipeline. Near-term organic growth from the Akatara project remains on track and with our first infill drilling programme in Malaysia, reinforcing the point that 2023 will be a big year for Jadestone."

Good to read that the impact of the lightening strike still has us within guidance albeit at the bottom range, I thought production could of been hit harder.
Demand for product is still strong, and nice divi increase.
Just hope world events don't derail us, as we are ina good position operationally and financially with only the upcoming WCP move a potential risk.

Don't click the link below it's corrupted takes to another site from the original site Google Nigerian Sun Seplat, you should find the original article dated 21st March.

Pro Roger Brown detailed newspaper article below, makes the point among many considering that the board of Sepl has plenty of Nigerian influence in high positions why if the allegations are true would they allow it and not deal with it?

In other news I see Russian oil has been selling for well above it's price cap, US EU and UK turning a blind eye reports the Global Witness, IE not doing any checks, so my take is they don't really want to sanction Russian oil it's all a posturing exercise, say one thing do another.

https://sunnewsonline.com/seplat-who-is-orchestrating-disputes-between-stakeholders-and-the-authorities/

With markets in some sort of correction with rate hikes and jobs data pleased we are holding up bodes well for the results.

United States was reported to have privately urged some commodity traders to shed concerns about shipping price-capped Russian oil in a bid to shore up supply.
The above statement was slipped in their daily review of the business news says all you need to know about future demand, even with more rate hikes forecast on todays US jobs data, Brent steadied and rose slightly even though down on week overall.

Having read the Reuters article updated on 6th March stating Exxon are looking to complete the deal with Sepl, then we have all the shenanigans of this week seems more than coincidence to me, anything to stall or stop the deal but that's just me.
https://www.reuters.com/business/energy/ceraweek-exxon-seeks-unblock-stalled-sale-challenging-nigeria-top-executive-2023-03-06/

Considering Roger has been around Sepl for a decade and the last three as top dog I find it curious that if these allegations had angy merit then there would of been evidence in years past which would have surfaced to back up the current claims.
The fact that there are none smacks of a smear campaign, desperately trying to derail the ongoing acquisition.
Good of Sepl to come out and refute the claims.

Manolo does it again obstacles left right and centre yet he continues to find a way round or between them all, we've heard about not enough barges we now have more capacity, we heard about restricted production now we are back up again, he can't do much about the onp, the fund for the local indigenous people recognises their grievances.
The bond repayment is happening as is capital returns, obviously not for the faint hearted here considering what could and does awry, warrants aside management have constantly delivered todays update is further evidence.

Platinum outlook for 2023 is forecast to in deficit, continued substitution of platinum in ice vehicles to continue this will be a driver more than production figures, when new models are introduced with substitution it will last for the life of the model.
Output from SA due to outages and Russian sanctions to impact supply.
https://youtu.be/Rg3Zc5PDayY