REG - Jadestone Energy PLC - Appointment of CEO

Jadestone EnergyAnnouncement

02/06/2025 07:00

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RNS Number : 9048K  Jadestone Energy PLC  02 June 2025

Appointment of Chief Executive Officer and Award of Restricted Shares

 

2 June 2025 - Singapore: Jadestone Energy plc (AIM:JSE) (the "Company" and
together with its subsidiaries, "Jadestone" or the "Group"), an independent
upstream production and development company focused on the Asia-Pacific
region, announces the appointment of Thomas Mitchell (Mitch) Little as Chief
Executive Officer ("CEO") effective 1 June 2025.

 

Mr. Little has relocated to Jadestone's head office in Singapore. Mr. Little
will be responsible for the delivery of Jadestone's existing strategy, with
the Group aiming to become the leading upstream independent in the
Asia-Pacific region through both organic and inorganic growth.

 

Mr. Little has over 30 years of experience in the upstream oil and gas
industry, the majority of which was with Marathon Oil Company ("Marathon")
from 1987 to 2020 in various technical, supervisory and senior management
positions.

 

Prior to leaving Marathon, Mr. Little was Executive Vice President:
Operations, where he held full responsibility for all of Marathon's operations
and development activities across US unconventional and international
operations, including health and safety and global supply chain functions. He
was also a member of Marathon's Executive Committee. His technical assignments
included roles in operations, reservoir management and drilling throughout the
U.S., offshore Norway, West Africa, North Africa, and Indonesia. He has a
Bachelor of Science in Petroleum Engineering from the University of Wyoming.

 

Mr. Little also brings to Jadestone relevant industry expertise in his current
role as Board Director of Helix Energy Solutions, a NYSE-listed international
offshore energy services company that specializes in maximizing the output of
existing oil and gas fields.

 

Dr. Adel Chaouch, Executive Chairman of Jadestone, commented:

 

"We are very pleased that Mitch is joining Jadestone as CEO. He brings
significant upstream operational and management experience from over three
decades in the oil and gas industry with Marathon.

 

His in-depth operational and technical knowledge across many jurisdictions,
particularly in mature asset management, will be of particular benefit to
Jadestone, as we seek to maximize the value of our existing operated positions
in Australia, Indonesia and Malaysia and pursue further growth in these core
areas. On behalf of everyone at Jadestone, we welcome Mitch to the business,
and I look forward to working with him to execute our strategic aim to be the
leading upstream independent in the Asia-Pacific region."

 

T. Mitch Little, Chief Executive Officer of Jadestone, commented:

 

"Jadestone has a very attractive platform of operated upstream positions in
the Asia-Pacific region. This dynamic region will be at the forefront of
global energy demand growth for the foreseeable future, and I'm confident that
Jadestone is well positioned to contribute meaningfully to meeting the
region's oil and gas demand growth in a safe and responsible manner.

 

I'm excited to relocate to the region and honoured to be joining the company
at this stage of its development, as we work together to deliver on
Jadestone's compelling strategy."

 

In connection with his appointment as CEO, the Company has awarded Mr. Little
1,142,648 restricted share units (equivalent to US$300,000) with a three-year
vesting period.

 

DEALING NOTIFICATION FORMS FOR USE BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 

  1.                 Details of the person discharging managerial responsibilities/person closely
                     associated
 a)                  Name:                                                         Thomas Mitchell Little
 2.                  Reason for the notification
 a)                  Position/status:                                              Chief Executive Officer

 b)                  Initial notification/Amendment:                               Initial Notification

 3.                  Details of the issuer, emission allowance market participant, auction
                     platform, auctioneer or auction monitor
 a)                  Name                                                          Jadestone Energy Plc
 b)                  LEI:                                                          21380076GWJ8XDYKVQ37
 4.                  Details of the transaction(s): section to be repeated for (i) each type of
                     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
                     place where transactions have been conducted
 a)                  Description of the financial instrument, type of instrument:  Ordinary shares of £0.001

                     Identification code:

                                                                                   ISIN: GB00BLR71299
 b)                  Nature of the transaction:                                    Restricted shares award
 c)                  Price(s) and volume(s):                                       1,142,648 restricted shares
 d)                  Aggregated information:

                     · Aggregated volume:                                          1,142,648 restricted shares

                     · Price:
 e)                  Date of the transaction:                                      2 June 2025
 f)                  Place of the transaction:                                     XOFF

 

-ends-

 

For further information, please contact:

 

 Jadestone Energy plc
 Phil Corbett, Head of Investor Relations              +44 (0) 7713 687467 (UK)
                                                       ir@jadestone-energy.com (mailto:ir@jadestone-energy.com)

 Stifel Nicolaus Europe Limited (Nomad, Joint Broker)  +44 (0) 20 7710 7600 (UK)
 Callum Stewart
 Jason Grossman
 Ashton Clanfield

 Peel Hunt LLP (Joint Broker)                          +44 (0) 20 7418 8900 (UK)
 Richard Crichton
 David McKeown
 Georgia Langoulant

 Camarco (Public Relations Advisor)                    +44 (0) 203 757 4980 (UK)
 Billy Clegg                                           jse@camarco.co.uk (mailto:jse@camarco.co.uk)
 Georgia Edmonds
 Poppy Hawkins

 

About Jadestone Energy

 

Jadestone Energy plc is an independent upstream company focused on the
Asia-Pacific region. It has a balanced and increasingly diversified portfolio
of production and development assets in Australia, Malaysia, Indonesia and
Vietnam, all stable jurisdictions with a positive upstream investment climate.

 

The Company is pursuing a strategy to grow and diversify the Company's
production base both organically, through developments such as Nam Du/U Minh
in Vietnam and the Puteri Cluster offshore Malaysia, as well as through
acquisitions that fit within Jadestone's financial framework and play to the
Company's strengths in managing maturing oil assets. Jadestone delivers value
in its acquisition strategy by enhancing returns through operating
efficiencies, cost reductions and increased production through further
investment.

 

Jadestone is a responsible operator and well positioned for the energy
transition through its increasing gas production, by maximising recovery from
existing brownfield developments and through its Net Zero pledge on Scope 1
& 2 GHG emissions from operated assets by 2040. This strategy is aligned
with the IEA Net Zero by 2050 scenario, which stresses the necessity of
continued investment in existing upstream assets to avoid an energy crisis and
meet demand for oil and gas through the energy transition.

 

Jadestone Energy plc (LEI: 21380076GWJ8XDYKVQ37) is listed on the AIM market
of the London Stock Exchange (AIM: JSE).  The Company is headquartered in
Singapore.  For further information on the Company please visit
www.jadestone-energy.com (http://www.jadestone-energy.com) .

 

The information contained within this announcement is considered to be inside
information prior to its release, as defined in Article 7 of the Market Abuse
Regulation No. 596/2014 which is part of UK law by virtue of the European
Union (Withdrawal) Act 2018.

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