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An announcement from Jadestone Energy Inc ( (GB:JSE) ) is now available.
Jadestone Energy has temporarily shut down production at its Stag oil field offshore Australia after Cyclone Narelle, a Category 5 storm, caused damage to the platform and offloading facilities. The company had demobilised the platform and safely cleared export lines of hydrocarbons ahead of the cyclone, and reported no release of hydrocarbons to the environment.
Engineers are assessing the damage and drawing up repair plans and a timetable for restarting output, which was about 2,000 barrels per day before the shutdown. Jadestone says it has insurance for both physical damage and loss of production and does not expect a material impact on this year’s or its longer-term cash flow projections, limiting the financial fallout for the group and its stakeholders.
The most recent analyst rating on (GB:JSE) stock is a Buy with a £64.00 price target. To see the full list of analyst forecasts on Jadestone Energy Inc stock, see the GB:JSE Stock Forecast page.
Spark’s Take on JSE Stock
According to Spark, TipRanks’ AI Analyst, JSE is a Neutral.
The score is mainly held down by weak financial performance (declining revenue, negative profitability, high leverage, and negative cash flows). Technical indicators are mixed but lean soft (RSI ~40 and below short-term averages), while valuation is a partial offset due to the low P/E.
To see Spark’s full report on JSE stock, click here.
More about Jadestone Energy Inc
Jadestone Energy is an independent upstream oil and gas company focused on the Asia-Pacific region, with a diversified portfolio of production and development assets in Australia, Malaysia, Indonesia and Vietnam. Listed on London’s AIM market and headquartered in Singapore, it targets growth through both organic developments and acquisitions, while positioning for the energy transition via increased gas output and a 2040 Net Zero target for Scope 1 and 2 emissions from operated assets.
Average Trading Volume: 2,015,830
Technical Sentiment Signal: Buy
Current Market Cap: £152.2M
Find detailed analytics on JSE stock on TipRanks’ Stock Analysis page.