Jadestone Energy PLC Update on Maari Acquisition (2874B)
09 Junio 2021 - 1:00AM
UK Regulatory
TIDMJSE
RNS Number : 2874B
Jadestone Energy PLC
09 June 2021
Jadestone Energy
Update on Maari Acquisition
9 June 2021-Singapore: Jadestone Energy plc (the "Company"), an
independent oil and gas production company focused on the Asia
Pacific region, is pleased to provide an update on the planned
completion of the acquisition of the 69% operated interest in the
Maari asset, shallow water offshore New Zealand.
The Company has continued working with the seller, OMV New
Zealand Limited ("OMV New Zealand"), to satisfy the remaining
outstanding conditions to complete the acquisition, in particular
the approval of New Zealand Petroleum & Minerals ("NZP&M").
While this work is continuing, the Company expects that completion
will occur in the second half of 2021.
In parallel with the NZP&M discussions, the Company is in
discussions with OMV New Zealand and expects to extend the long
stop date under the Maari sale and purchase agreement, which is
currently set at 30 June 2021. The Company will provide an update,
once a date has been confirmed.
The Company intends to issue updated production guidance in due
course, accounting for a revised expectation on timing to close the
Maari asset acquisition and the positive impact of the acquisition
of the SapuraOMV Peninsular Malaysia assets announced on 30 April
2021.
For further information, please contact:
Jadestone Energy plc +65 6324 0359 (Singapore)
Paul Blakeley, President and CEO +44 7392 940 495 (UK)
Dan Young, CFO ir@jadestone-energy.com
Robin Martin, Investor Relations Manager
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, 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
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 an operated 69% interest in the Maari Project,
shallow water offshore New Zealand, and anticipates completing the
transaction in 2021, upon receipt of customary approvals. The
Company has also executed a sale and purchase agreement to acquire
interests in four oil producing licences offshore Peninsula
Malaysia; two operated and two non-operated positions. The Company
anticipates completing the transaction in H2 2021, following the
waiver of pre-emption rights and receipt of PETRONAS approval.
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 Jadestone please visit
www.jadestone-energy.com .
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.
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to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 which is part
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