Member Info for SEA7

The latter part of the EP stated the following..

• Install sand screens and lower completion with deep barrier.

• Wellbore clean up.

• Install temporary suspension packer

• Recover HP riser and BOP.

• Install subsea tree, riser and BOP.

• Run landing string.

• Run upper completion.

• Recover landing string.

• Pull riser and rack back BOP.

• Rig demobilisation, including retracting the cantilever and jacking-down.

It shows on marine traffic that the valaris 247 is underway at 2.2knots - this does look like the rig is finally moving off site. There are also to offshore ships nearby, with destinations of singapore at 0800 2nd september.

looks more promising for a monday rns now

Thanks roxi - shouldn' be too long now for that flow rate rns

Skua 11 ST3 Shows the borehole status as completed on the official australian portal and the rig release date of the 29th July.

hTtps://public.neats.nopta.gov.au/nopims/wells

(as expected the status of ST1/ST2 has been updated to abandonded)

If firering dont take up the option by 31st july, then clearglass take the option, make the payment and keep the shares. the management of clearglass are related to the ceo of firering, if i recall.

limeco has a $100 million debt on its balance sheet, owed to shareholders. At present Firering has the right to about $20 million of it. if they exercise the full 45% - they will have another $24.5m owed to them. Once they get that project delivering cashflow, you can be assured that firering, will start to extract its repayment of that debt owed to it, as it is a shareholder.

firering/clearglass are effectively buying the debt at a steep discount, with a quicklime business thrown in

BW Energy own the rig now

Https://s23.q4cdn.com/956522167/files/doc_downloads/fleet-status-report/2025/07242025-Fleet-Status-Report_FINAL.pdf

valaris updated fleet status report, issued yesterday, shows that the jack up rig that jadestone is using, is now officially contracted to end in August.

The rules state they cannot offer less than the price they paid for shares in the last 12 months - that is currently 26.75p after their feb 2025 purchase

also, livermore, fidelity and river global own 20% of the company - without them on board for any offer, it would be DOA

Im currently quoted 19.51 to sell and 19.77 to buy

Well -BG are on record as selling off fossil fuel investments and if you take out all their exposure, such as tesco with petrol stations, they are left with about 1% of their total assets in fossil fuel investments. I think they are inching away from the rest of their direct exposure to oil and gas investments.

I would think tyrus were just willing to mop up some of their shares at a below market price

imho

Tyrus were the buyer of nearly 5 million shares and baillie gifford are selling down

Https://joshthompson.co.uk/investing/jadestone-energy-2024-results-record-production-guidance-maintained/

Let’s cut through the noise. Jadestone Energy’s 2024 full-year results aren’t just another set of figures—they’re a roadmap to how this Asia-Pacific oil and gas player is punching above its weight

and

Akatara: The New Cash Machine

The star performer? Akatara. First gas in July 2024, ahead-of-plan uptime (96% in early 2025), and a debottlenecking project to unlock another 3.5 mmboe. This isn’t just a project—it’s a cash flow engine.

I would rather they stay just below 30% - so they dont have to make a mandatory offer for the company and try to take it on the cheap

That looks like a seller exhausting...we saw two 3% shareholders drop off the list at end June, so this is likely one of them finishing their selling

I see that trade was reported as "Executed as an SI"

SI- Systematic Internaliser

systematic internaliser as an investment firm which, on an organised, frequent, systematic and substantial basis, deals on its own account when executing client orders outside a Regulated Market (RM), Multilateral Trading Facility (MTF), or Organised Trading Facility (OTF).

As part of the Mako project, Conrad has announced that it understands that MEMR will direct PLN to build the required approximately 7 km gas spurline with an investment value of approximately $50 million to link the West Natuna Transportation System (WNTS) with Pemping Island and subsequently to markets in Batam.

https://www.oedigital.com/news/523387-all-gas-from-conrad-s-mako-field-to-be-sold-to-indonesia-s-pln

The field is expected to be in production around mid 2026 and that is assumimg that conrads sell down process to finance the field itself goes to plan.

phase one of the mako project has seen its expected capex increase to $325 million, from the $251 million stated in 2022.

they also plan to only bring on stream two of the phase one wells, to help fund the remainder of phase one.

https://www.upstreamonline.com/field-development/project-costs-spiral-fid-and-start-up-delayed-at-conrad-gas-project/2-1-1591800?zephr_sso_ott=JUtiwZ

In indonesia they allow 90/10 contractor split on a psc to recover the capex costs, after which revenue split usually goes 60/40, with 60 to the govt.

in terms of a point of reference ...jadestone energy's onshore akatara gas project came online in indonesia at the end of 2024 and their agreement is...

Gas production from the Akatara field is sold under a long-term gas sales agreement (“GSA”) with PT Pelayanan Listrik Nasional Batam as buyer.

The key terms of the Akatara GSA are detailed below:

Daily contract quantity (“DCQ”) of 20.5 BBtu/d

Gas price of US$5.60/mmBtu

Annual take-or-pay quantity set at 90% of the adjusted annual contract quantity

Maximum daily quantity set at 110% of DCQ

LPG and condensate are sold to regional buyers based on relevant benchmarks less transportation costs.

jadestone are currently receiving about $8 million a month revenue on the akatara gas agreement and they hold 100% of the project.

With regards to rule 9 on takeovers.

if anyone hits 30% and doesnt get a waiver, then the lowest price they must offer, is the highest price they paid for shares in the previous 12 months. Tyrus bought in feb 2025 at 26.75p - that is the lowest they could possibly offer until feb 2026.

and I would suspect even that would be roundly rejected.

my view is that they will mop up some shares at these low prices, sit back and wait for the full cost recovery at akatara to complete, see overall debt come down, progress made on malaysian and vietnamese projects and a divi in place, before they consider selling off their holding to someone.

cant see tyrus wanting the whole thing myself.

Tyrus adding a few more.

Could not have put it better opulentia, which is why I have added again today