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2 Jun 2025 07:00
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: Identification code: | Ordinary shares of £0.001
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: · Price: |
1,142,648 restricted shares
|
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 | |
| |
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 |
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.
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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