Member Info for SEA7

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was hitting its daily contract quantity rate of c.20mmscf/d, albeit intermittently, then the curtailment status is no longer applicable.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

Further pressure from skk migas...

dated 1st November 2024

htTps://www.kabarbursa.com/makro/96528/skk-migas-pecut-bos-bos-migas-untuk-tingkatkan-produksi-nasional

SKK Migas Whips Oil and Gas Bosses to Increase National Production

Head of the Special Task Force for Upstream Oil and Gas Business Activities or SKK Migas, Dwi Soetjipto, gathered CEOs of oil and gas Cooperation Contract Contractors (KKKS) in Jakarta, Friday, November 1, 2024. This meeting seeks to encourage SKK Migas partners to increase national production

AND

SKK Migas identified four potentials that can be developed. First, there are 301 structures with a potential of 1.8 billion barrels of oil and 13.4 trillion cubic feet of untapped gas. Second, increased production can be done through Enhanced Oil Recovery (EOR) and Waterflood technology in 12 fields, with a potential of 951 million barrels of oil.

AND

"I ask every PSC Contractor to re-evaluate and align their strategy with SKK Migas. This inventory and follow-up strategy must be submitted no later than the first week of November 2024," Dwi emphasized.

AKATARA referenced further down...There are also two projects that produce oil and gas at the same time, namely Jadestone Energy's Akatara Gas Plant with a gas capacity of 25 MMSCFD and oil of 1,100 BOPD and LPG production of 192 MT/D

JSE said production was curtailed - they didn't say it had stopped at akatara.

dictionary says... curtail .....reduce in extent or quantity

This article dated yesterday indicates that SKK Migas confirms that 12 out 15 projects expected online in indonesia are now producing.

The article names the three remaining projects that it expects to be online by end 2024 - akatara is not mentioned in this list of three, which implies it is in the group of 12 that are producing.

Akatara is specifically mentioned in the article though, so it is confirmed as in the total group of 15 they are referring to.

https://indonesiabusinesspost.com/insider/skk-migas-12-upstream-oil-gas-projects-onstream-with-36273-bopd-potential/

There will be no capital raise as far as I can see...from the accounts..

The Group entered into a committed standby working capital facility with Tyrus Capital S.à.r.l as part of the equity raise on 6 June 2023 for US$31.9 million. This facility matures on 31 December 2024. The facility carries interest of 15% on drawn amounts and 5% on undrawn amounts and can be repaid or cancelled without penalties. The standby working capital facility remained undrawn as at 30 June 2024 and at the date of signing the financial statements.

Someone is confident 300k share print @27p full offer, after the close

Also - PB would not have been able to purchase shares if he was aware of anything substantially different to the information already in the public domain about akatara.

Thanks jono - that is why i referenced the fact that i could only see an upload date - as I had the same thought about it being the initial deliveries

This is the transportation plan from Jse and Jgc uploaded 15 jul 2024 and relates to the movement of coolers/condensate coolers/compressors and gas engine generators. It is a detailed route plan identifying transport risks such as bridges along the route.

I cannot see any dates actually on the document, so the date could be purely an upload date

you will note in section 2 cargo list, there are ETA for these items. Items coming from Ciwandan say mid october and those from singapore end october.

htTps://www.slideshare.net/slideshow/metode-pengiriman-cargo-heavy-menuju-lokasi-site/270247215?from_search=1

Major shareholders list updated to 30th Sept

Invesco moves up to 4.05% from 3.82%

Hargreaves down to 3.92% from 3.98%

Premier Miton have gone below 3% as they were at 3.09% at 31st Aug and no longer show on the list today.

2 days ago...

https://hansard.parliament.uk/Commons/2024-10-08/debates/7E17E1EA-2B7E-4DC3-A577-DEDB5C643714/EnergySecurity

Lee Anderson

(Ashfield) (Reform)

The Secretary of State will be aware that 25% of the UK is situated on top of coalmines, which can provide geothermal energy to heat houses and businesses in places like Ashfield. Will the Minister meet me to discuss how we can make that work in coalfield communities?

Michael Shanks

I very much welcome the hon. Gentleman’s question—which I must say is somewhat of a surprise. I will absolutely meet him to discuss that. We have been clear that any technologies can be part of the solution and, if that can be part of the picture, I will meet him to discuss the options and the technology more generally.