REG - Jadestone Energy PLC - Board Changes

Jadestone EnergyAnnouncement

16/01/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250116:nRSP5055Ta&default-theme=true

RNS Number : 5055T  Jadestone Energy PLC  16 January 2025

Board Changes

 

16 January 2025 - Singapore: Jadestone Energy plc (AIM:JSE) (the "Company" and
together with its subsidiaries, "Jadestone" or the "Group"), an independent
upstream production company focused on the Asia-Pacific region, is pleased to
announce the appointment of David Mendelson to Jadestone's Board of Directors
(the "Board") as an independent Non-Executive Director, effective immediately.
On appointment, he will join the Board's Remuneration Committee and Governance
and Nomination Committee.

 

David Mendelson has 35 years of experience in the energy sector, the last 25
of which were with TotalEnergies in positions of increasing responsibility and
seniority prior to his retirement in 2023.  Immediately prior to retirement,
he was a member of the TotalEnergies E&P Executive Committee, holding the
position of Senior Vice President for TotalEnergies' Exploration and
Production Business in the Americas, covering eight different countries
including operations in USA, Canada, Argentina, Bolivia and Brazil,
representing more than 400kboe/d of production in 2022, and exploration and
appraisal operations in Mexico, Guyana, and Suriname.

 

Prior to this, he was TotalEnergies' E&P Senior Vice President for
Strategy, Global New Ventures and Research and Development, and prior to that,
Vice President of E&P Global New Ventures, where he led a team that
concluded asset acquisitions and divestments across the globe, including in
the Asia-Pacific region.  Between 2014 and 2015 he led TotalEnergies' E&P
business in Australia.  Throughout the latter stage of his career at
TotalEnergies, he regularly interacted with the Executive Committee of the
company and was a member of the wider team of senior executives.

 

Separately, and after over eight years on the Board, Cedric Fontenit has
signalled his intention to step down as a Non-Executive Director of the
Company on 20 January 2025 to focus on his other business interests.

 

Adel Chaouch, Executive Chairman of Jadestone, commented:

 

"I am very pleased that someone of David Mendelson's caliber has agreed to
join Jadestone's Board, and this appointment should send a strong signal about
the attractiveness of our Asia-Pacific platform and investment case.  I have
no doubt that the experience accumulated during David's long and successful
career at TotalEnergies will add significant value to the Board's stewardship
and governance of the Company.  On behalf of the Board and Company, I welcome
him to Jadestone and am looking forward to working with him in pursuit of our
strategic aims.

 

I would also like to thank Cedric Fontenit for his service as a Non-Executive
Director. He has been integral to the significant growth and development of
Jadestone since being appointed to the Board in 2016, and we wish him every
success in his future business endeavours."

 

Regulatory disclosures

 

The following information is disclosed under Rule 17 and Schedule Two,
paragraph (g), of the AIM Rules for Companies:

 

David John Mendelson, aged 60, does not directly hold any ordinary shares nor
options over ordinary shares in the Company and has held the following
directorships in the past five years:

 

 Current directorships/partnerships  Past directorships/partnerships
 None                                TotalEnergies EP New Ventures SA (previously Total E&P Activities
                                     Petrolier)
                                     TotalEnergies EP Recherche Développement SA
                                     Total E&P Guyane Francaise SA
                                     TotalEnergies EP Colombie SA
                                     TotalEnergies EP Angola SA
                                     TotalEnergies EP Kazakhstan SA
                                     TotalEnergies EP Russie SA
                                     Total Austral SA
                                     Total Exploration Trinidad And Tobago SA
                                     TotalEnergies EP Services SA
                                     TotalEnergies E&P New Ventures, Inc (Delaware)
                                     TotalEnergies E&P New Ventures, Inc (Louisiana)
                                     TotalEnergies E&P New Ventures, Inc (Texas)
                                     Total E&P USA Oil Shale, LLC (Delaware)
                                     Total E&P USA Oil Shale, LLC (California)
                                     Total E&P USA Oil Shale, LLC (Colorado)
                                     Total E&P USA Oil Shale, LLC (Texas)
                                     Total E&P USA Oil Shale, LLC (Utah)
                                     TotalEnergies E&P Americas, LLC (Texas)
                                     TotalEnergies E&P USA, Inc (Delaware)
                                     TotalEnergies E&P USA, Inc (Alabama)
                                     TotalEnergies E&P USA, Inc (California)
                                     TotalEnergies E&P USA, Inc (Colorado)
                                     TotalEnergies E&P USA, Inc (Florida)
                                     TotalEnergies E&P USA, Inc (North Dakota)
                                     TotalEnergies E&P USA, Inc (Louisiana)
                                     TotalEnergies E&P USA, Inc (Massachusetts)
                                     TotalEnergies E&P USA, Inc (Michigan)
                                     TotalEnergies E&P USA, Inc (Ohio)
                                     TotalEnergies E&P USA, Inc (Texas)
                                     TotalEnergies E&P USA, Inc (Utah)
                                     TotalEnergies E&P USA, Inc (Wyoming)
                                     TotalEnergies E&P Barnett USA, LLC (Delaware)
                                     TotalEnergies E&P Barnett USA, LLC (Texas)
                                     TotalEnergies E&P USA Barnett 1, LLC (Delaware)
                                     TotalEnergies E&P Research & Technology USA, LLC (Delaware)
                                     TotalEnergies E&P Research & Technology USA, LLC (California)
                                     TotalEnergies E&P Research & Technology USA, LLC (Texas)
                                     TotalEnergies E&P USA Properties, LLC (previously Total E&P USA Real
                                     Estate, LLC) (Delaware)
                                     TotalEnergies E&P USA Properties, LLC (previously Total E&P USA Real
                                     Estate, LLC) (Texas)
                                     Total E&P NCE A/S
                                     Total Oil Colombia A/S

There is no further information which is required to be disclosed under
Schedule Two, paragraph (g), of the AIM Rules for Companies in respect of
David John Mendelson.

 

-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
 Elfie Kent

 

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,
Thailand 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 at Akatara in
Indonesia, Nam Du/U Minh in Vietnam and the PNLP 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOASFDFAIEISEIF