Last checked at 17 May 2023 07:09
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 | |
| |
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 |
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.