Successful Completion of RBL
Facility Redetermination
26 April 2024 - Singapore: Jadestone Energy plc
("Jadestone", or the "Company"), an independent upstream company
focused on the Asia-Pacific region, is pleased to announce that the
scheduled redetermination of its reserve-based lending facility
(the "RBL Facility") has successfully concluded, setting a
borrowing base at the maximum facility size of US$200 million for
the six-month period ending 30 September 2024.
The resulting borrowing base
excludes Stag and includes CWLH 2, and is subject to various
conditions subsequent, including regulatory approvals and
registrations relating to the CWLH 2 acquisition completed earlier
in 2024.
Further details will be provided
with the release of the Group's full-year 2023 consolidated audited
financial results on Monday 29 April 2024.
-ends-
For further information, please
contact:
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Jadestone Energy plc
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Paul Blakeley, President and
CEO
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+65 6324 0359 (Singapore)
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Bert-Jaap Dijkstra, CFO
Phil Corbett, Head of Investor
Relations
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+44 (0) 7713 687467 (UK)
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ir@jadestone-energy.com
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Stifel Nicolaus Europe Limited (Nomad, Joint
Broker)
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+44 (0) 20 7710 7600 (UK)
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Callum Stewart
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Jason Grossman
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Ashton Clanfield
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Peel
Hunt LLP (Joint Broker)
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+44 (0) 20 7418 8900 (UK)
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Richard Crichton
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David McKeown
Georgia Langoulant
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Camarco (Public Relations Advisor)
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+44 (0) 203 757 4980 (UK)
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Billy Clegg
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jse@camarco.co.uk
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Andrew Turner
Elfie Kent
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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, Thailand and Vietnam, all stable jurisdictions
with a positive upstream investment climate.
Led by an experienced management
team with a track record of delivery, who were core to the
successful growth of Talisman Energy's business in Asia-Pacific,
the Company is pursuing a strategy to grow and diversify the
Company's production base both organically, through developments
such as Akatara in Indonesia and Nam Du/U Minh in Vietnam, 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 by the
Company to constitute inside information as stipulated under the
Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act
2000. Upon the publication of this announcement via a
Regulatory Information Service, this inside information will be
considered to be in the public domain.