Jadestone Energy PLC Montara H6 well successfully brought onstream (0985N)
28 Septiembre 2021 - 12:59AM
UK Regulatory
TIDMJSE
RNS Number : 0985N
Jadestone Energy PLC
28 September 2021
Montara H6 well successfully brought onstream
28 September 2021 - Singapore: Jadestone Energy plc (the
"Company"), an independent oil and gas production company focused
on the Asia-Pacific region, is pleased to announce that the Montara
H6 development well has been successfully tied into the field
facilities and commenced production. The well delivered an initial
rate, after clean-up, approaching 10,000 bbls/d and following a
period of well performance testing will be stabilised at around
3,000 bbls/d, as per guidance. The Valaris 107 rig has made the
short move to the Skua-10 and Skua-11 workover location, and
operations on Skua-11 have now commenced.
Paul Blakeley, President and CEO commented:
"The Montara H6 well is an important milestone in our investment
strategy for the Montara assets, confirming our view of the Montara
reservoir, and providing near term growth. It not only delivers a
significant increase in oil production but is also a key step in
our plan to deliver circa 20,000 boe/d towards the end of this
year. Higher production coincides with continued strength in oil
prices, to which we are fully exposed given our unhedged position.
As a result, our balance sheet continues to strengthen, providing
the platform from which to execute on further growth through
investment in both the existing portfolio as well as further
M&A."
For further information, please contact:
Jadestone Energy plc
Paul Blakeley, President and CEO +65 6324 0359 (Singapore)
Dan Young, CFO
Phil Corbett, Investor Relations Manager +44 7713 687467 (UK)
ir@jadestone-energy.com
Stifel Nicolaus Europe Limited (Nomad, +44 (0) 20 7710 7600 (UK)
Joint Broker)
Callum Stewart
Jason Grossman
Ashton Clanfield
Jefferies International Limited (Joint +44 (0) 20 7029 8000 (UK)
Broker)
Tony White
Will Soutar
Camarco (Public Relations Advisor) +44 (0) 203 757 4980 (UK)
Billy Clegg jse@camarco.co.uk
James Crothers
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, Vietnam and the
Philippines.
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
interests in four oil producing licences offshore Peninsula
Malaysia; two operated and two non-operated positions. Further, the
Company has a 100% operated working interest in two gas development
blocks in Southwest Vietnam, and an operated 90% interest in the
Lemang PSC, onshore Sumatra, Indonesia, which includes the Akatara
gas field.
In addition, the Company has executed a sale and purchase
agreement to acquire a 69% operated working interest in the Maari
Project, shallow water offshore New Zealand, and is working with
the seller to obtain final New Zealand government approvals.
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 is listed on the AIM market of the London
Stock Exchange. The Company is headquartered in Singapore. For
further information on the Company please visit
www.jadestone-energy.com .
Cautionary Statements
This announcement may contain certain forward-looking statements
with respect to the Company's expectations and plans, strategy,
management's objectives, future performance, production, reserves,
costs, revenues and other trend information. These statements are
made by the Company in good faith based on the information
available at the time of this announcement, but such statements
should be treated with caution due to inherent risks and
uncertainties. These statements and forecasts involve risk and
uncertainty because they relate to events and depend upon
circumstances that may occur in the future. There are a number of
factors which could cause actual results or developments to differ
materially from those expressed or implied by these forward-looking
statements and forecasts. The statements have been made with
reference to forecast price changes, economic conditions and the
current regulatory environment. Nothing in this announcement should
be construed as a profit forecast. Past share performance cannot be
relied upon as a guide to future performance. The Company does not
assume any obligation to publicly update the information, except as
may be required pursuant to applicable laws.
This announcement does not contain inside information.
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