London-listed Jadestone Energy falls on narrowed production guidance
29/04/2024 12:13
** Shares of independent oil and gas company Jadestone
Energy PLC JSE.L down 4.4% at 27p
** JSE narrowed its annual production guidance from
20-23,000 boe/d to 20-22,000 boe/d due to poor production in the
first quarter
** Jadestone's average Q1 group production was 17,200 boe/d
** Q1 performance was impacted by planned and unplannned
downtown across its portfolio, including impact of an active
cyclone season on its Australian assets at the start of this
year
** Co says commercial gas sales from Akatara gas field is
expected to commence before end of Q2
** 2024 operating cost guidance and capex guidance remains
unchanged at US$240-290 mln and US$80-110 mln, respectively
** JSE shares fell ~25% in 2024
(Reporting by Yamini Kalia in Bengaluru)
((Yamini.Kalia@thomsonreuters.com;))