REG - Jadestone Energy PLC - NOPTA Approval of CWLH Asset Title Transfer

Jadestone EnergyAnnouncement

17/05/2023 07:17

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RNS Number : 7057Z  Jadestone Energy PLC  17 May 2023

NOPTA Approval of CWLH Asset Title Transfer

 

17 May 2023 - Singapore: Jadestone Energy plc ("Jadestone" or the "Company"),
an independent oil and gas production company focused on the Asia-Pacific
region, is pleased to announce that it has received approval from Australia's
National Offshore Petroleum Titles Administrator ("NOPTA") for the title
transfer relating to the acquisition of the interest in the CWLH fields
offshore Australia (originally announced in July 2022).

 

As stated in the Company's 2022 preliminary unaudited full-year results
announcement on 25 April 2023, the NOPTA approval referenced above is a key
condition to drawing the reserves-based loan ("RBL") which is currently being
arranged with several banks. The Company continues to progress the RBL
workstreams and a further announcement will be made when appropriate.

 

For further information, please contact:

 

 Jadestone Energy plc
 Paul Blakeley, President and CEO                      +65 6324 0359 (Singapore)
 Bert-Jaap Dijkstra, CFO

 Phil Corbett, Investor Relations Manager              +44 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

 Jefferies International Limited (Joint Broker)        +44 (0) 20 7029 8000 (UK)
 Tony White
 Will Soutar

 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 oil and gas company focused on the
Asia-Pacific region.  It has a balanced, low risk, full cycle portfolio of
development, production and exploration assets in Australia, Malaysia,
Indonesia, Thailand and Vietnam.

 

The Company has a 100% operated working interest in the Stag oilfield and in
the Montara project, both offshore Australia. Both the Stag and Montara assets
include oil producing fields, with further development and exploration
potential. The Company also has a 16.67% non-operated interest in the North
West Shelf Oil Project offshore Western Australia, comprising four oil fields
containing significant upside potential through potential infill drilling and
life extension activities.

 

The Company has interests in four oil producing licences offshore Peninsular
Malaysia; two operated and two non-operated positions, and a non-operated
9.52% interest in the Sinphuhorm producing gas field onshore Thailand.

 

Further, the Company has a 100% operated working interest in two gas
development blocks in Southwest Vietnam, and an operated 100% interest in the
Lemang PSC, onshore Sumatra, Indonesia, which includes the Akatara gas field
development, where first production is expected in the first half of 2024.

 

Led by an experienced management team with a track record of delivery, who
were core to the successful growth of Talisman's business in Asia, the Company
is pursuing an acquisition strategy focused on growth and creating value
through identifying, acquiring, developing and operating assets in the
Asia-Pacific region.

 

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.

 

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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