The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Https://www.con-telegraph.ie/2023/09/14/number-of-mayo-councillors-confirm-support-for-new-erris-gas-line-project/
In a significant development, a number of Mayo county councillors have confirmed their support for €50 million Europa Oil and Gas in its endeavour to connect the Corrib gas field in Erris to the recently discovered Inishkea field.
HTTps://www.jadestone-energy.com/assets/indonesia-portfolio/lemang/
august video of akatara progress available
David Neuhauser on montara restart...
@LivermoreOps
Good to see. The company must reflect a strong operating path moving forward without hesitation. If achieved, there should continue to be strong upside to the business and share price. $JSE #oilandgas
HtTps://drillordrop.com/2023/08/15/star-energy-sells-two-potential-drilling-sites-in-cheshire/
Dated 15th August 2023..
excerpts..
Star Energy selling two potential drilling sites in Cheshire
Land Registry documents seen by DrillOrDrop show the plots were bought by Star Energy subsidiaries from Grahams Estates Limited more than seven years ago.
Both are now being sold by Rostons estates agents as agricultural land at more than £10,000-£12,000 per acre. If both reach the maximum price, Star Energy Group would expect to receive about half a million pounds.
There is no publicly-available relinquishment report for PEDL190. DrillOrDrop asked Star Energy to confirm whether it had relinquished or surrendered the licence but the company did not respond. We’ll update this article if the company does reply.
Star Energy’s most recent accounts, for 2022, released on 30 March 2023, included PEDL190 as an asset. The group was the licence operator and held a 50% interest, along with Ineos. More recent statements from the company have not referred to PEDL190.
Svm asset management fact sheet august 2023...They are holders
Frustratingly, Jadestone fell again. The company announced a further halt to production at its Montara field. At the time of writing this appears to be
relatively straightforward ‘fix’ but was the last thing the company needed as it sought to rebuild credibility with investors. We continue to believe the upside is substantial.
hTTps://www.svmonline.co.uk/srp/lit/NjqYd2/Fact-Sheet_SVM-World-Equity-Fund-A-Accumulation-GBP_31-07-2023_UK-Priv.pdf
Thanks roxi - yes some infils to look forward to. I know that montara is overshadowing everything, however, jadestone isn't a one trick pony.
these infils underway
akatara progressing well
PB did mention m and a recently - nothing heard as yet.
there is more going on at jadestone and we should also hear about montara soon
Malaysian drilling contractor Velesto Drilling revealed Tuesday it had received an offshore drilling rig contract with Jadestone Energy.
Under the contract, Velesto Drilling is providing a jack-up drilling rig for the East Belumunt field infill drilling program.
The East Belumunt is an offshore field located in the PM 323 production sharing contract, offshore Malaysia, in which Jadestone owns a 60% stake, with PETRONAS Carigali holding the remaining 40% working interest.
While the news of the drilling contract was announced on August 16, 2023, Velesto said the effective date of the drilling contract was March 16, 2023. The rig hired under the contract is the Velesto Naga 2, and the contract value is around $6.1 million.
The Contract is to drill four (4) firm wells with an estimated commencement date in the 3rd Quarter of 2023 by Velesto NAGA 2. Velesto NAGA 2 is a premium independent-leg cantilever jack-up rig with a drilling depth capability of 30,000 feet and a rated operating water depth of 350 feet.
htTps://aogdigital.com/news/507257-jadestone-energy-chooses-velesto-drilling-rig-for-east-belumunt-offshore-drilling-campaign
Rns out
Since then, tank 4S has been emptied and cleaned, with an inspection commencing on 8 August 2023. The initial inspection has identified the location of a small defect between tank 4S and oil cargo tank 5C, which poses no safety or structural risk, nor any risk of a hydrocarbon leak to sea.
The Company is now focused on the following activities to address the defect in tank 4S, including:
-- final inspections in ballast water tank 4P prior to returning this tank to service as part of the overall ballast and stability requirements for the FPSO;
-- offloading crude oil from tank 5C to allow for cleaning and access to permit an inspection; and
-- re-entry to 4S to finalise the inspection of the tank and carry out the necessary repair.
HtTps://en.sggp.org.vn/vietnam-creating-favorable-conditions-for-oil-gas-contractors-post104041.html
Prime Minister Pham Minh Chinh wholeheartedly supported Jadestone Energy Plc in its investment in activities related to oil and gas in Vietnam’s continental shelf, especially solutions to develop Nam Du – U Minh gas field in order to provide an additional gas source to the Southern region.
He stressed that Vietnam has always offered favorable conditions for oil and gas contractors, particularly Jadestone Energy Plc, to conduct exploration and exploitation of oil and gas fields in the country in compliance with the applicable national laws and the motto ‘Success for both Investors and Vietnam’.
The Prime Minister assigned the Industry and Trade Ministry to direct Vietnam Oil and Gas Group to actively support Jadestone Energy Plc during its negotiation with stakeholders for an optimal and effective measure to consume exploited gas and develop Nam Du – U Minh gas field.
President Paul Blakeley said that Jadestone Energy Plc is going to work with the Industry and Trade Ministry and its partners to address related issues so that the gas field can be put into operation as soon as possible, bringing benefits to all relevant partners.
Jadestone Energy Plc has been working in Vietnam for over 10 years with the total investment of more than US$290 million.
Dated 7 aug 2023..
Jadestone eyes FPSO redevelopment of oilfield offshore Malaysia. The operator could be producing again from PNLP assets as early as 2024.
Singapore-headquartered independent Jadestone Energy is eyeing the potential redevelopment of the Penara, North Lukut and Puteri (PNLP) oilfields offshore Malaysia, which have been offline for some 18 months after the Bunga Kertas floating production, storage and offloading vessel had its class suspended.
hTTps://my.linkedin.com/company/accelution-energy
Full article behind paywall on upstreamonline.com
htTps://www.upstreamonline.com/field-development/jadestone-eyes-fpso-redevelopment-of-oilfield-offshore-malaysia/2-1-1495632
Star is going to be an interesting case in coming years as they transition from an oil & gas company to a geothermal one. Having increased expenditure to concentrate on maxing out production from its existing portfolio, production rose by just over 11% on 2022 1H as the run-off of the estate continues.
From now on it is going to be a really interesting play, as the statement says the Government white paper calls for joint working on the industry and to ‘move quickly’ to unlock its potential. Star have been an early mover here so I imagine that they will be able to be leaders in the sector in the public sector especially as they have been investing time, money and human resources in it.
If not, killing the fatted calf may prove to be a fateful decision, investors will have to decide whether to wait around for the results, something that may take a very long time. The shares are down some 90% since the high earlier this year so it looks like investors would rather watch from the outside.
Those that bought egdon say this...
HEYCO Group believes that fossil fuels remain critical for the UK's future and that Egdon is strategically positioned for that future with its conventional projects as well as with opportunities for gas storage, hydrogen, geothermal, and renewable generation.
and
HEYCO Group was part of the group that commenced production at the Avington field in southern England in 2007 and is the parent company of a current UK licence holder.
ends..
star energy is the operator in the avington field.
there are a lot of similarities between HEYCO and star - which lend to the view that they could be a potential buyer for all of stars o and g assets
The rns today confirms the company's plan to exit o and g and focus on the geo thermal.
that means it is for sale - egdon was sold for £26 million with revenue of £6.9m for the year on 250 boepd or thereabouts.
star had £59 million revenue on over 2000 boepd - the o and g has a value way in excess of the current cap