Business
2024 Trading Update, Reserves and 2025 Guidance
2024 Trading Update, Reserves and 2025 Guidance.
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n\n\n\nYear-End 2024 Trading Statement, Reserves Update and 2025 Guidance\n \nDelivering stable operations, growing free cash generation and shareholder value\n \n25 February 2025 - Singapore: Jadestone Energy plc (AIM:JSE) (the \"Company\" and together with its subsidiaries, \"Jadestone\" or the \"Group\") announces a trading update for the year ended 31 December 2024, the results of its independent year-end 2024 reserves evaluation and 2025 guidance. \n \n2024 Highlights\n \n· 2024 average production of 18,696 boe/d, a year-on-year increase of 35% (2023: 13,813 boe/d).\n· Successful commissioning of the Akatara gas processing facility, with year to date 2025 production in line with expectations.\n· Independently audited 1P reserves by ERCE of 48.6 mmboe at year-end, with a 1P reserves replacement ratio of more than 200%, greatly increasing the Group's resilience.\n· Independently audited 2P reserves by ERCE of 68.3 mmboe at year-end, resulting in a 2P reserves replacement ratio of 104%. \n· The 2P reserves are valued by ERCE at US$799 million, or an implied per share value of 102 GBp[1] after deducting the Group's year-end 2024 net debt position of US$104.8 million.\n· 2C contingent resources of 125.7 mmboe at year-end 2024.\n· No material safety events in 2024 and a lost time injury (\"LTI\") rate lower than the industry IOGP average, with Malaysia and Indonesia operations achieving a combined 10 million manhours without an LTI.\n \n2025 Guidance Highlights\n \n· Production: 19,000 - 22,500 boe/d.\n· Operating costs: US$250-300 million.\n· Capital expenditures: US$75-95 million.\n· Unlevered free cash generation[2]: US$270-360 million (2025 - 2027).\n \nAdel Chaouch, Executive Chairman of Jadestone, commented:\n \n\"We have entered 2025 as a re-energized business, boosted by the onset of stable production from Akatara, driving overall Group production significantly higher and setting a new monthly record and annual exit rate in December 2024. Our primary focus in 2025 is to deliver...