Analyst David Round of Stifel Nicolaus maintained a Buy rating on Jadestone Energy Inc (JSE – Research Report), retaining the price target of p70.00.
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David Round’s rating is based on Jadestone Energy Inc’s strategic advancements and potential value realization. The company has made significant progress by submitting a field development plan for the Nam Du and U Minh discoveries in Vietnam, marking a crucial step in the regulatory approval process. This move indicates a forward momentum towards a final investment decision, which could unlock substantial value for the project.
Additionally, Jadestone’s recent Heads of Agreement with Petrovietnam Gas for a Gas Sales and Purchase Agreement further solidifies its position. The agreement outlines a take-or-pay arrangement with favorable pricing, enhancing the project’s financial prospects. Given these developments, David Round sees a considerable upside potential in Jadestone’s stock, justifying his Buy rating.