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There is nothing much here that we do not know already, the production for last year was 13,813 b/d and given Montara a very creditable achievement. Guidance is a very conservative 20,000-23,000 which I. alluded to in my last piece, it should be a breeze to get through.
Going forward, Akatara is a ☑️ as is CWLH ☑️ and of course the recent news from Vietnam ☑️ and the PSC in Malaysia could even be a ☑️☑️. Right now the time has come for the management to get on with all the good things they have talked about recently and deliver the goods. So far the share price has not taken all our optimism at face value yet but with delivery I’m sure it will…
Quakes take on acid shortage..
https://twitter.com/quakes99/status/1751779902393823399?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
One thing we can definitely all agree on I think is that the February 1st $KAP Financial results and 2024/2025 production guidance are likely to set off fireworks.
Https://twitter.com/quakes99/status/1750881570297356666
Kazatomprom big miss on production
Re bunga kertas FPSO...
https://www.upstreamonline.com/field-development/jadestone-eyes-fpso-redevelopment-of-oilfield-offshore-malaysia/2-1-1495632
Jadestone eyes FPSO redevelopment of oilfield offshore Malaysia
Operator could be producing again from PNLP asset as early as 2024
Https://www.upstreamonline.com/exploration/what-s-on-offer-the-old-and-new-energy-opportunities-in-malaysia-s-latest-annual-licensing-round/2-1-1406296
Potential host facilities to exploit PM 428’s hydrocarbon riches include platforms on the West and East Belumut fields and the Bunga Kertas floating production, storage and offloading vessel.
Prospective bidders can propose their minimum work commitment and opt for either a four-year single-phase exploration period or a two-phase — three plus two years — term. PM 428 is being offered under Malaysia’s enhanced profitability terms.
Https://www.oedigital.com/news/510996-petronas-awards-seven-new-pscs-for-six-offshore-blocks-in-malaysia
Jadestone Energy and Petronas Carigali for Block PM428
fyi
The PM 428 block is the largest tract on offer and includes the Cahaya, Permatang, Paluh and Jebat discovered fields. These prospects are expected to contain around 2.15 billion boe.
htTps://theenergyyear.com/news/malaysia-opens-new-oil-and-gas-bid-round/
Extract from mintek shareholder performance compact 2022/23
hTtps://mintek.co.za/media/publications/downloads/shareholder-compact-2022.pdf
Objective 2
Foster the industry by extending the life of the South African gold mining industry.
Objective statement
Extend the life of gold production through technologies, equipment supply and technical support that will reduce operating costs, improve efficiencies and maximise the value and life-of-mine of gold industries.
Baseline
Patented gold from carbon fines technology had been developed and piloted. A project to demonstrate the gold from carbon fines technology to transfer the technology had received state grant funding (R2 009 000). Industrial partners in both South Africa (GoldPlat) and Burkino Faso had been identified as vehicles to transfer this technology. Detailed process design is currently in progress. This is the first year of the technology transfer project.
DRD ceo Niel pretorious is a superb ceo and he would not entertain goldplats TSF if he didn't think it was a winner...
his comments from years ago, tell you what sort of CEO he is...
https://www.miningmx.com/news/gold/32689-drdgold-ceo-niel-pretorius-puts-money-mouth/
On March 28 Pretorius told Miningmx that, “instead of making a huge crap-load of money, we’re just going to make a crap-load of money.” That was in reply to a question on the impact of the lower rand gold price on the deal.
Pretorius stands out as CEO of a quoted SA gold company in that he has been prepared to publicly state his opinions on his company’s share price and “put his money where his mouth is” as he has just done again.
The last accounts showed about a third of the current mcap in cash, with over 1.5 times the mcap in precious metals in process.
that tailings facility with over 82k oz gold etc is an off balance sheet asset - isn't even recognised anywhere at present
So, the skeletons in the cupboard continue to come back to haunt Jadestone, AKA Montara and Stag where, however hard the management tries to diminish their drag on the rest of the company, they remain key albeit slowing assets and the only way to lessen their effect is to grow the rest of the business. But that is what is happening, at long last.
But as they say in this statement ‘life of field costs at Montara and Stag will be higher than expected due to increases in repair and maintenance costs to maintain both facilities in an appropriate condition’. This is therefore going to lead to a likely non-cash impairment when the 2023 year end numbers are cranked and that was all that was needed for the market to send the shares down some 15%.
But there are plenty of pluses in the statement, even taking Stag out of the RBL redetermination will leave plenty of headroom going forward. Guidance one way or another was exceeded last year and the target for this year is 20-23 boe/d which could and should be a bit conservative but nothing wrong with that after what the company has been through. It is worth remembering that Montara which once stood for 80% of company production will be 20% by the end of this year.
Akatara is being completed and will start on time and the CWLH-2 is going to be a huge contributor and that’s on target as well for 1Q ’24. As Paul Blakely says Jadestone will be newer, higher margin and higher reliability assets in the future, I really believe that the company is on the verge of that change, indeed we are in that quarter now, let’s hope so, after the last couple of years this is no time to lose confidence…
Https://www.youtube.com/watch?v=1l1ebtBVt_A
GTA CONSTRUCTION AKATARA GAS PROCESSING FACILITY PROJECT