Member Info for SEA7

Looks like perpetual are selling down . that is creating an overhang that will persist for some time, unless they can offload the lot soemwhere in one chunk

The accounts do show the following, which are supportive of the company and the current derisory share price just doesn't reflect any value at all

cash £4.2 million.

The proceeds from the sale of a non-core asset are expected to exceed the costs incurred in rationalising and preparing the asset for sale and negotiations are at an advanced stage with completion anticipated by Q1 2025.

Other expense of £2.0 million relates to the preparation for sale of a non-core asset. It is expected that the sale proceeds will exceed the costs incurred in preparing the asset for sale.

and

the Group benefits from its hedging policy with 121,200 bbls currently hedged for September 2024 to June 2025 using swaps at an average price of $81/bbl.

as well as..

The Group has gross total tax losses and similar attributes carried forward of £361.6 million

the net assets of the company are shown as c. £52 million, with 2000 boepd production against a mcap of £8.5m

Have a great weekend also

Not seen a day with this much volume since august 8th

For the record - the prices those trades are printing at, is the same as I have been quoted to buy.

Make that 800,000 shares - another 150k just printed.

I note that 650,000 shares have been hoovered up in the last hour in four tranches- looks like someone is discreetly buying and trying not to move the price.

I see you get mentioned in the media piece KS

https://www.lse.co.uk/media/JSE/what-s-hot-24th-september-4dm3schnd4bfamu.html

HtTps://oilprice.com/Energy/Energy-General/Geothermal-Energy-Could-Outperform-Nuclear-Power.html

The potential for enhanced geothermal is massive – the Economist even projects that it could outperform nuclear energy output, while offering similar benefits. Like nuclear, geothermal operates with proven technologies, offers base-load, on-demand energy, and produces zero carbon emissions. The United States Department of Energy (DoE) has posited that geothermal energy could power up to 260 million homes

Thanks KS for your summary - very helpful

Posted by someone on another board re jse...

Not sure why no one pointed out that the payments for closing the wells and cleaning up will reduce in @H from 165 million to 18.5 million. That is an incrlease in profit of over 40 million.

From todays rns

The Company is currently making good progress on both appointing a replacement CFO and the ongoing search for a Chief Operating Officer.

I am not concerned about akatara at this time - it is worthwhile highlighting this from the accounts today..

"Whilst the site currently remains formally under the control of the EPCI contractor, a detailed Operational Readiness program has been undertaken by the Company to ensure that when the performance test is completed, and the facility is formally handed over, Jadestone Energy is ready to safely operate the facility."

Akatara is still undergoing testing - it isn't in Jadestones full control yet.

The 70 buck hedge is providing support now

I would presume we will hear something on this soon...

from nopsema site..

htTps://docs.nopsema.gov.au/A1085043

Skua-11 ST1 Well Drilling Environment Plan

The Skua-11 ST1 well activities are scheduled to commence between Q4 of 2024 and Q2 2025 subject to MODU availability, Regulator acceptance and long lead equipment arrival. Operations are likely to last for a period of approximately 72 days in total, however timings are subject to weather and operational efficiency. Therefore, this EP validity period is from November 2024 to November 2025. Once accepted, Jadestone Energy will be permitted to undertake the activities at any time during this period.

Uk atomic authority say.....

https://ccfe.ukaea.uk/fusion-energy/fusion-in-brief/

DEMO – the EU’s demonstration power station design – which aims to supply fusion electricity to the grid around 2050. There are also power plant design programmes being developed in several areas of the world including China, S Korea and Japan. These will be followed by the first generation of commercial fusion power stations.

....

around 2050 for the demo to be producing - which means much later for commercial.. they also say...

Reliable power. Fusion power plants will be designed to produce a continuous supply of large amounts of electricity. Once established in the market, costs are predicted to be broadly similar to other energy sources.

..

no cheaper than existing sources - so they don't really know and won't be cheaper - still to pie in the sky at present, to be a threat to the existing nuclear power generation industry.

Nice overview of sector..

htTps://quoteddata.com/research/geiger-counter-limited-dawn-of-a-new-era-for-uranium-mc/

The COP28 UN climate conference in December 2023 provided more evidence of nuclear power’s integral role in the decarbonisation of energy, where a monumental international agreement was reached to triple nuclear generating capacity by 2050.

For this to be achieved, trillion of dollars of investment will be needed to fund a vast number of new projects. Long-term demand for uranium would almost certainly surge. Due to a lack of sensitivity to the uranium price on the cost of nuclear energy generation – at $80/lb the uranium cost is estimated to make up around 6% of the overall cost in the production of electricity meaning that material increases in the spot price are manageable for utilities – GCL’s managers have confidence that the price of uranium will continue to rise.

As oil retreats, worth remembering..

from last accounts..

50% of Group’s planned 2PD production

Commodity swap: swap component

Oct 2023 - Sep 2025

Weighted average price of US$70.57/bbl

at end of year, 4,531,720 barrels were outstanding on the cash flow hedge above.

The Group’s October 2023 to September 2025 commodity swap programme was designated as a cash flow hedge. Critical terms of the commodity swap (i.e., the notional amount, life and underlying oil price benchmark) and the corresponding Group’s hedged sales are highly similar. The Group performed a qualitative assessment of the effectiveness of the commodity swap contracts and concluded that the commodity swap programme is highly effective as the value of the commodity swap and the value of the corresponding hedged items will systematically change in opposite directions in response to movements in the underlying commodity prices

Jadestone have put out the tender to provide security services at akatara...

htTps://www.scribd.com/document/763393871/Provision-of-Security-Services-AKATARA-Field

Pre qualification schedule between 28th august and 6th september

document prequal submission - 18th september

Only 8 months ago, angus announced this...

The Company is pleased to announce that Ross Pearson, former Technical Director of Star Energy plc (formerly IGAS plc) is joining the Company as the lead on all wells and subsurface activity