Member Info for SEA7

Another late reported 600k share trade has shown up - that makes 1.8m in the last two days bought

Someone is acquiring with that 2nd chunk of 600k shares today

Nice late reported buy of 600k shares at the full offer

Https://www.tiktok.com/@sobatmigas/video/7495802934052130053

The above short tiktok from around a month or so ago, has the first 42 seconds in indonesian, however, from 42 to 1.38 end is Mark Craig, Jadestone representative talking about the plant. Whilst there is significan background noise, he does state that whlst they are looking to extract more organic growth from the PSC, they are looking for more inorganic growth in indonesia

Largest shareholder buys more

Looks like the kamarin reliance oil tanker is alongside montara venture - unloading oil from storage tanks

https://www.marinetraffic.com/en/ais/home/centerx:124.624/centery:-12.600/zoom:12

That being said 21 million bpd pass through the straits of hormuz, just a hint of an attempt at blocking it by iran, could send oil on a moonshot, initially

Iran will struggle to block the straits of hormuz with the american 5th Fleet in Bahrain. They could attack tankers passing through the straits although it would disrupt 1 million bpd of oil they export to china.

Oil will fly if the israelis attack the iranian oil infrastructure. The primary targets are likely to be the Kharg Island terminals, which are responsible for 90 per cent of the Islamic republic’s oil exports and the primary source of funds for its government and nuclear programme.

Markets are somewhat calm as oil infrastructure has not been attacked in iran - if it does, then markets will be wild

Kick off date means when the drill bit first hits the ground

Neats portal shows Jadestone kick off date for SKUA11 ST3 as 11/6/2025

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

If you look back at the annual report when the entire montara assets were aquired, you can see that ARO increased from $83m to $184m. That tells you that they had reckoned on a $100m cost to decom all montara assets. That equates to £73m in GBP. If we assume that they get all of it done in the five years, if the entire asset is shut down at 2031 and not further developed, then they would be spending an average of £15 million a year on it. Yes I know costs have increased since 2018, but you can get an idea of what to expect the layout is going to be in the region of

Jadestones entire portfolio is currently expected to cost $664m to decomission the lot and they have paid a couple of hundred mill up front, if i recall.

Montara is expected to start decom in 2031, penmal is 2026 and all the other assets are 2036 onwards.

The costs will be spread out of several years and as such will be manageable..

montara will not cost hundreds of millions and the guidelines for decom of aussie assets are below

https://jws.com.au/what-we-think/navigating-the-waters-of-decommissioning-legal-obligations-and-the-rising-regulatory-scrutiny-on-offshore-petroleum-assets/

The Australian Government and NOPSEMA have interpreted section 572 as requiring timely decommissioning.[4] In the absence of any express timeframes in the legislation, NOPSEMA’s ‘Decommissioning Compliance Strategy’ 2024-2029 sets the following targets:

non-producing wells – to be suspended with downhole barriers within 12 months of loss of real-time monitoring and permanently abandoned within 10 years of suspension;

floating infrastructure – to be removed within 12 months of cessation of production (COP);

all wells – to be plugged and abandoned within three years of COP; and

other property – to be decommissioned to approved end state within five years of COP.

The info on NEATS Well data shows the kick off dates for SKUA11 ST1 being 13th May 2025 and SKUA11 ST2 being 25th May 2025. It indicates borehole status as in progress.

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

Https://www.marinetraffic.com/en/ais/home/centerx:124.412/centery:-12.503/zoom:16

valaris and endeavour - valaris not updated for days, but support vessel is an hour ago

likely means valaris AIS not switched on and as such rig aint moving yet - or it is, AIS not updated yet and endeavour is getting ready to tow it

Not sure, but ENA Endeavour is alongside the jack up rig as of an hour ago. The endeavour is a multi purpose offshore vessel

https://www.marinetraffic.com/en/ais/home/shipid:5262110/zoom:16

Bid has moved up to 21 now as well - deffo a buy!

4,444,444 shares printed at 21p

Decent 400k share buy at 21.25 gone through

I note that Jadestone will be included in the FTSE Aim All share index effective 23 June 2025, as a result of the quarterly FTSE Aim indices review

Usual shenanigans. The larger players will buy up the miners etc when prices are low, then start funnelling money in to sput. That then pushes sput to a premium to NAV, they issue units and buy up U308 off spot market. Their activity in the spot market pushes up the U308 price, which in turn, moves up the miners. The larger players then exit their miner positions at a profit and then start selling down/shorting SPUT/YCA. This gets SPUT back down below NAV, prevents them issuing units, they cant buy U308 on spot and it drifts down also, puting further pressure on the miners. As the prices of the miners get down to cheap again, the larger players rinse and repeat.

That is a sort of flywheel effect with sput being the flywheel. As soon as you see SPUT Making positive moves to the upside - we should expect the sector to move back up again.

At present we have the reverse flywheel effect - shorting and selling sput, brings the whole spot market and sector down.