REG - Jadestone Energy PLC - RBL Update and Notice of Results

Jadestone EnergyAnnouncement

10/04/2024 07:00

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RNS Number : 0022K  Jadestone Energy PLC  10 April 2024

 

RBL Update and Notice of Results

 

10 April 2024 - Singapore: Jadestone Energy plc (the "Company"), an
independent upstream company focused on the Asia-Pacific region, provides the
following updates.

 

Status of Reserves-Based Loan ("RBL") March 2024 Redetermination

 

The March 2024 redetermination process, which will set the borrowing base for
the six-month period commencing 1 April 2024, is at an advanced stage.
Primarily due to the proposed changes to the RBL facility borrowing base
assets, namely the de-designation of Stag as a borrowing base asset and the
inclusion of the recently acquired 16.67% interest in the CWLH fields, the RBL
facility banks require additional time to complete the redetermination. The
Company expects to announce the results of this redetermination shortly.

 

Notice of Full-Year 2023 Results

 

Jadestone will issue its full-year 2023 consolidated audited financial results
on Monday 29 April 2024.

 

-ends-

 

For further information, please contact:

 

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

 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)
 Andrew Turner

 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.

 

Led by an experienced management team with a track record of delivery, who
were core to the successful growth of Talisman Energy's business in
Asia-Pacific, the Company is pursuing a strategy to grow and diversify the
Company's production base both organically, through developments such as
Akatara in Indonesia and Nam Du/U Minh in Vietnam, 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) .

 

This announcement does not contain inside information.

 

 

 

 

 

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