Member Info for SEA7

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

Restart tomorrow

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

They will - it took ten days to empty, clean and inspect 4s - so assume the same for 5c, albeit a crude tank, not ballast.

a couple of weeks isn't beyond the realms of possibility

Will be less than that - crude tank 6c is still available for use and the RBL has a 60 day limit for continuous interruption on montara - they will come in under that

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

Yep - I have loaded up in the low 20's in anticipation of the guidance on restart in due course.

They do about 16k to 17k barrels a day - montara is about 6k of that

Https://oilprice.com/Alternative-Energy/Geothermal-Energy/Geothermal-Energy-The-Hot-New-Trend-In-Renewable-Power.html

Countries worldwide, including the U.K., Japan, Kenya, and Indonesia, are looking to develop their geothermal energy capacities to diversify their renewable energy mix.

Instead of just focusing on this issue and the overall relatively short time frames, we should consider how the company are thinking...

htTps://docs.nopsema.gov.au/A837905

dated with a start date of feb 2023...

Jadestone Energy (Eagle) Pty Ltd (Jadestone Energy) plans to undertake monitoring of two temporarily abandoned wells, Sea Eagle-1 and Tahbilk-1 which are intended to be used for future hydrocarbon exploitation, in the Montara field via vessel-based activities

and...

Swallow-1 was initially anticipated to have a relatively short production life and once depleted, Sea Eagle-1 would be completed and assume the production flow path through the subsea infrastructure presently being used by Swallow-1

and...

1) The Swallow-1 well continues to flow at an economic rate and it is expected to continue until the 2027-2028 time period.

2) There is currently no capacity in the subsea system for the Sea Eagle-1 well to be tied in and doing so would back out existing production from Swallow-1 and impact production from other subsea wells.

3) Sea Eagle-1 is ideally located for hydrocarbon exploitation.

4) Hydrocarbons targeted by the Sea Eagle-1 can be economically developed provided the existing and originally intended strategy of using the existing wellbore and Swallow-1 infrastructure is used. If this strategy is not followed, future development of the field will be compromised and uneconomic.

5) Jadestone intend to complete the Sea Eagle-1 well once the Swallow-1 well becomes unable to produce or is uneconomic

I have added as well today

The initial issue was tank 2c - but the others were part of it.