Any disruption to production is obviously a big issue for oil producers, and even more so when a company only has a small number of operations and it causes a significant impact on output.
Jadestone Energy (JSE) has announced results for the 2021 calendar year and that it still expects 2022 average production to increase to 15,500-18,500 boe/d. So what of a share price slipping to 101p in response?
Jadestone Energy (JSE) states that it “is pleased to provide its guidance outlook for 2022”, including noting that it expects to generate material incremental cash at current oil prices and premiums and may consider an increase in shareholder returns through increased dividends and/or share buy-backs later in the year. Sounds good.
This has been a very good share tip for our readers but there is more to come. Jadestone Energy (JSE) has announced that “2021 production averaged 12,545 boe/d, in line with expectations” and “cash balances at the end of the year are estimated at US$117.4 million, representing an increase of 30% year-on-year, even after the largest spending programme in the company's history”. This sounds encouraging.
Jadestone Energy (JSE) has announced that 2021 average annual production is expected to be around the midpoint of the 11,500-13,500 boe/d guidance range and that it “now expect to reap the benefits of higher production and attractive pricing, given ongoing oil price strength, our unhedged position and recent improvements in the Tapis differential”.
Following half-year results from Jadestone Energy (JSE) recently, we noted the financial improvement despite challenges and that with the growth potential suggested the 77p share price too harsh an appraisal. There is now a “Montara H6 well successfully brought onstream”-titled announcement and the shares are further higher.
Jadestone Energy (JSE) has announced its results for the first half of 2021, reaffirming full-year production guidance of 11,500-13,500 barrels of oil equivalent per day and anticipating 20,000 boe/d towards the end of the year. We are well up on this 69p offer price share tip but where do we go from here?
A “Guidance and Operations Update” from Jadestone Energy (JSE) notes work necessary to restore production from the Skua subsea wells and the revised cost of the H6 infill well at Montara, where the well has been sidetracked due to mechanical equipment issues, as well as that it is still awaiting clarity on Maari offshore New Zealand government approvals timing. However, “average full-year 2021 production guidance of between 11,500-13,500 boe/d remains unchanged”.
An announcement from Jadestone Energy (JSE) contains good news and less good news.
Jadestone Energy (JSE) is pleased to announce an agreement to acquire an interest in Peninsular Malaysia – and we can understand why.
