REG - Jadestone Energy PLC - Successful Flow Testing of the Skua-11ST Well

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RNS Number : 9629V  Jadestone Energy PLC  20 August 2025

 

Successful Flow Testing of the Skua-11ST Well

 

Initial oil production rates significantly ahead of previous guidance

 

20 August 2025 - Singapore: Jadestone Energy plc (AIM:JSE) (the "Company" and
together with its subsidiaries, "Jadestone" or the "Group") announces an
update on the testing of the Skua-11ST development well at the Montara field
offshore Australia.

 

Consistent with previous disclosures, production from the Skua-11ST well
commenced in early August 2025. Initial oil production rates from the well
exceeded 6,000 bbls/d, significantly ahead of previous guidance of 3,500
bbls/d, with oil production rates subsequently stabilizing at 4,400 bbls/d on
a 40% open choke prior to restart of the Montara field's other subsea wells.

 

Skua-11ST was completed with downhole inflow control devices, which are
designed to maximize reservoir sweep and recovery from the well. Skua-11ST,
along with the other Montara wells, will be managed in the longer-term to
maximise overall recovery from the Montara field.

 

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

 

"We are pleased to report the strong initial flows from the Skua-11ST well,
which will meaningfully contribute to higher production from Montara,
underpinning our revised 2025 production guidance which was upgraded in July.
The increase in production will also reduce Montara unit operating costs and
extend field life by approximately one year."

 

-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

 Berenberg (Joint Broker)                              +44 (0) 20 3757 4980 (UK)
 Ciaran Walsh
 Dan Gee-Summons
 Yasmina Benchekroun

 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) .

 

This announcement does not contain inside information.

 

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