Member Info for SEA7

Paying down the debt is primary, however, they may announce a nominal divi to whet the appetite of some, although anything before Q3 Calendar next year would be surprising.

Https://x.com/JadestoneEnergy/status/1866017016861114383/photo/1

This is a massive milesone achievement for Jadestone which has been completely ignored by the market so far. This construction project was started in September 2022 and is now finally complete and fully operational at design specs.

Testing at 6000boepd for 72 hours and handover complete. Now we start to see the investment pay off.

Yes. This is the akatara rns we have been waiting for

Thanks roxi - good find.

shows that even though PB has moved on, the company is still getting on with business. This contract will still be in operation when PB turns 76- would he really still be running a group the size of JSE then - no probably not.

a period of clam, strengthening the balance sheet, drilling next year and akatara making its contribution is what we are likely to see now, rather than M and A - I would not be surprised to see the Divi re-instated before any further expansion

My view on todays rns is that PB wanted to continue building a bigger company sooner rather than later, which would then be sold on and he would ride off into the sunset of retirement. The board appear to want to see a period of calm, whereby the balance sheet strengthens and they can begin to get a return on the investments made, closely followed by further growth.

I would not be surprised if we find out that this is the reason for PB sudden departure. Their desire to do not a lot over the next FY on the M and A front, against PB who is 71, thinking in a shorter time frame and considering his exit plans. PB may have thought, why hang around another year, if they aren't giving me free reign.

The lack of a CEO and the board, as is, indicates that they will simply focus on day to day running for the foreseeable future, barring the current drilling plans.

Akatara at dcq. Pb stepping down

Have a good weekend also roxi

Getting akatara handed over to Jse and on full production and paying down the debt is all I am interested in seeing in the short term. Into 2025 we have the Skua 11 drilling in Q2 assuming rig availability on time and Seeing Montara works finished and costs reducing there. That will do for now

HTtps://www.jgc.com/jp/ir/ir-library/assets/pdf/afdb8c69af652520a3b717b42359d2d0_1.pdf

dated 14th November 2024

Whilst the above is in japanese, if you go to page 2 and then translate the right hand box at the bottom of the page which starts with 2023...

you will see that it states - indonesia - New Natural Gas processing plant and gas pipleline construction project - construction work is almost complete, testing is currently underway and handover is nearing.

This was way oversold - it should at least move back to the 15p level it was at when it changed names - it is in far better shape now.

Cash as at june 30th was £4.2 million ..add on this £6.3 million and we have £10.5 million as well as over 2000 boepd production. The mcap now is only £11 miillion - it effectively means anyone buying today, is getting 2000boepd production for 500k

RNS - sale of non core asset for £6.3 million in cash - current mcap is £8.98m

Morning star shows that as of Oct 31st Odey asset management had 0% held and they had finished selling 3.5 million shares. as well as crux asset management with almost 3m sold.

https://www.morningstar.com/stocks/xlon/jse/ownership

Major shareholders updated today.

no change in composition

notable changes...

river globabl increases from 3.45% to 3.66%

UBS increases from 3% to 3.22%

The akatara plant is still under the control of JGC - the contractors - it has not been formally handed over yet.

Decent update..

what the update does imply is that the issue that curtailed production as indicated in the 17th september rns was resolved. If the plant was hitting its daily contract quantity rate of c.20mmscf/d, albeit intermittently, then the curtailment status is no longer applicable.

I would therefore deduce that everything has proved it can handle and deliver DCQ. This is the first time they have confirmed that the plants has achieved is DCQ. Good News.

The update is vague and I would presume that the issues solely relate to "bedding in" the plant.

At least it is a step forward - first time we have heard of it hitting DCQ.

For anyone thats interested..Dated 1st oct

htTps://migas.esdm.go.id/cms/uploads/kumpul-icp/a3376205128ccc45b171af73ab7e7a3d.pdf

page 7 shows that Akatara oil was using the formula and price of BELIDA – US$1,09/bbl $71,88

as well as AKATARA CONDENSATE -formula SENIPAH CONDENSATE – US$18,64/bbl $47,40

formulas are shown on page 5, with akataras under number 4 and 5.

Copy and paste link ..for some reason it is showing the isle of wight if you click on the highlighted bit

Google maps - access road and entrance to akatara -Dated june 24

the maps also have quite a few photos on the side bar

htTps://www.google.co.uk/maps/@-0.9900904,103.3349485,3a,75y,282.69h,90t/data=!3m7!1e1!3m5!1sjbjAi_9fgP9iHIrPJ6HlCw!2e0!6shttps:%2F%2Fstreetviewpixels-pa.googleapis.com%2Fv1%2Fthumbnail%3Fcb_client%3Dmaps_sv.tactile%26w%3D900%26h%3D600%26pitch%3D0%26panoid%3DjbjAi_9fgP9iHIrPJ6HlCw%26yaw%3D282.6915134478587!7i16384!8i8192?coh=205410&entry=ttu&g_ep=EgoyMDI0MTAyOS4wIKXMDSoASAFQAw%3D%3D