Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Jadestone Energy reported lower third-quarter profit on rising costs and a fall in production amid planned downtime at its Montara mine.
For the three-month period ended September 30, pre-tax profit fell to $2.8m from $3.2m on-year as revenue rose to $62.5m from $32.7m.
Production was in line with full-year guidance averaging 13,036 barrels a day for the quarter, a 2% decrease from the second quarter. While production costs increased to $32m from $16.9m.
Full-year average group production guidance was reconfirmed within the range of 13,500 to 14,500 barrels a day. Guidance on major spend for the full year was lowered to a range of US$66m to $81m, down $7m as the Montara 3D seismic shoot was now expected to commence in the first quarter of 2020, the company said.
At 9:00am: (LON:JSE) Jadestone Energy Inc Com Shs Npv Di share price was -3.75p at 70.25p