Analyst David Round of Stifel Nicolaus maintained a Buy rating on Jadestone Energy Inc (JSE – Research Report), retaining the price target of p70.00.
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.