Member Info for SEA7

Back in early june 2022 the share price was about £1.10 per share. On the 6th june they announced the annual results for 2021.

highlights were - 12.5k boepd at a realised oil price of $74 a barrel. Operating cost per barrel was $26. The accounts showed a £13m loss after tax and a net cash position of £117 million.

fast forward to today - we are at 25p a share and the recent accounts showed 20.38k boepd production at a realised oil price of $77 a barrel. Operating cost per barrel was $24.7. The accounts showed a £32 million profit and a cash balance of £113 million. Net debt was £53 million as of august 31.

Jse is still woefully undervalued and those june 2022 highs don't seem so far out of reach anymore.

For the first time in ages, I am only being offered at best, for execution. I always got a guaranteed price below the current offer, but not now. Available stock drying up.

This vietnam govt decision is a few years old now but it references the period 2026 to 2035 - Jadestones fields are mentioned here and it is clear that they want to see this happen when this was issued in 2017

htTps://thuvienphapluat.vn/van-ban/Thuong-mai/Quyet-dinh-60-QD-TTg-Quy-hoach-phat-trien-nganh-cong-nghiep-khi-Viet-Nam-2025-2017-337525.aspx

d) Southwest region

- Completing the infrastructure system collecting and transporting gas from Blocks B & 48/95, 52/97 and small fields in the West Nam (Khanh My, Dam Doi, Nam Du, U Minh,...) to supply for new power centers under the National Electricity Plan approved by the Prime Minister The Government approves; supplementing existing consuming households in the Southwest region.

Https://uk.investing.com/news/analyst-ratings/berenberg-initiates-coverage-on-jadestone-energy-stock-with-buy-rating-93CH-4289538

Berenberg initiated coverage on Jadestone Energy (LON:JSE) (OTC:JADSF) with a Buy rating and a price target of GBP0.68, citing the company’s significant discount to the value of its producing assets.

The research firm noted that Jadestone stands out as one of the cheapest companies in its exploration and production coverage universe.

Jadestone’s production guidance for 2025 indicates over 70% growth in output since 2022, with Berenberg forecasting an additional 20% growth by 2027.

The production growth is expected to generate cost efficiencies, with Berenberg projecting EBITDA growth and margin expansion over the medium term.

Berenberg also highlighted that Jadestone should generate free cash flow well exceeding its market capitalization by 2027, providing a strong foundation for both organic growth opportunities and potential accretive acquisitions in the Asia-Pacific region.

The cover page on x shows a comment of "a jewel in the making"

Malcy has changed is tune on jadestone.. commments re yesterdays results..

Jadestone have come through with $32.8m of profits for the first-half showing that the portfolio can healthy profits when strong operational performance and healthy realisations coincide. Jadestone is clearly in good nick and performing well, particularly after debottlenecking and scheduled maintenance at Akatara earlier this year which has led to sustainably higher production.

With Vietnam singled out at length in the presentation the company are clearly on the move here and were at pains to tell us that we are to expect more news soon.

As for Montara and Stag they are both in good shape and again with new CEO Mitch having had experience at Marathon, he if anyone should be a good sign for a mature offshore FPSO setting. I remain confident that after a visit to Akatara in early November the company will have had the full spotlight on it which I think will be good.

Thanks zengas - great summary

Really good call - picked up on the part roxi has mentioned and I liked the focus that mitch is giving to montara.

With net debt at £53.5 million as of end august and an actual profit for the period declared, we are looking in far better shape now.

akatara is delivering and there appears to be more to come on this front

Our strategy remains clear. We will continue to work diligently on optimizing the value of our producing asset base, including managing our mature assets to maximize their economic lives and push out the point of abandonment.

says to me, that they want that crux tie up at montara.

The Group continues to explore strategic opportunities to complement its organic growth activities, drive value and deliver scalable growth.

big hint at acquisition in my mind

Its in the results rns

Commentary re montara...

During the period, there was further progress on the Montara Venture FPSO tank inspection and repair program, with crude oil tank 2C returned to service for the first time since June 2022. This milestone allowed for greater flexibility in the marketing and sale of Montara oil production, particularly the return to Free On Board ("FOB") cargo sales, which reduce lifting related costs. In total, ten tanks have been removed from the NOPSEMA Prohibition Notice and returned to service. Four crude oil tanks remain to be inspected and any repairs made before removal from the Prohibition Notice, with this activity expected to be complete in the first half of 2026.

In September 2025, NOPSEMA issued a General Direction requiring Jadestone to revise its policies and approach to the hull integrity management of the Montara Venture FPSO, and commission an independent review and verification that the Group's hull integrity management approach aligns with common industry practice and sound integrity management principles. The safety of Jadestone's people and assets is a priority for the Group, and Jadestone will fully comply with the General Direction. Many of the tasks necessary to meet the General Direction's requirements had previously been identified by the Group's new leadership team, with work already underway to address them. The Group expects that any incremental activity required to comply with the General Direction will not have a meaningful operational impact, nor will it have an impact on the Group's operating cost guidance, which remains unchanged.

The sheer amount of work done on the tanks since 2022 means the vast majority have only recently been returned to use in response to to the general direction that was issued in June 2022

Not really herman - yesterdays buying pressure has not continued into this mornings session and a few traders are exiting. Yesterdays buy volume was over 3 million shares - today, we have seen about 365k shares sold, with no real buying. The market is working as expected and the price action is not reflective of the underlying business at all

Decomissioning costs are part and parcel of O and G investing - the usual plan is that they are spread out over a 5 year plan, although 10 years is not uncommon for large projects. Jadestone have also paid multi millions upfront for some of the assets into the abandonment funds held by indepedent third parties.

the recent general direction indicates 30, 60 and 90 day compliance timeframes to providue NOPSEMA with guidance on how they will address the matters raised. That is not indicative of impacting day to day operations.

Lets hope so legache

Always remember - after news like yesterdays, your 10% traders will move in - they will have expected a quick turnaround for a 10% profit. If the momentum stalls, they will exit to avoid margin calls, or taking a hit. Every chance this will drop in the short run for this reason ..

Short piece from march of this year...

htTps://seis.news/powering-vietnams-energy/

Vietnam’s Gas Revolution: How Jadestone Energy Is Rewriting the Rules of Energy Independence with Unmanned Platforms and AI-Driven Logistics

extract

But Jadestone isn’t stopping there. The company is finalizing a gas sales agreement, building on heads of terms agreed upon earlier this year. With independently assessed 2C resources of 171.3 billion standard cubic feet (Bscf) of gas and 1.6 million barrels of liquids, the Nam Du and U Minh fields are poised to become a regional energy powerhouse.

And feedback from the proactive event on the 18th in london, indicated that MA said that it would spud saturday ...posters on the other site that attended mentioned this in their feedback posts

Yep BG have been selling for what seems like forever - them finishing takes a huge amount of pressure off

Took some time for mine to be filled - which is the first time i have ever had a wait to be filled on jse stock