Operational
Update
11
November 2024 - Singapore: Jadestone Energy plc
(AIM:JSE) ("Jadestone", the "Company" or the "Group"), an
independent upstream production company focused on the Asia-Pacific
region, provides the following operational update.
The Company reiterates its 2024
production guidance, as provided in its H1 2024 results on 17
September 2024, being towards the lower end of the 18,500 - 21,000
boe/d range.
During October 2024, average
daily Group production was over 22,000 boe/d and for various
periods reached a record in excess of c.24,000 boe/d as Akatara
intermittently achieved its daily contract quantity rate of
c.20mmscf/d. Intermittent production is not unusual for the early
stages of a project of this nature as commissioning issues continue
to be addressed.
Operational performance across the
remainder of the portfolio has been in line with expectations,
reinforcing the benefit of a diversification of production streams.
Drilling of the Skua-11 sidetrack on Montara is expected in the
second quarter of 2025, subject to delivery of the rig on
schedule.
-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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Andrew Fairclough, CFO
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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
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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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Georgia Edmonds
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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 at Akatara in Indonesia, Nam Du/U Minh in Vietnam and the
SFA 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.
This release does not include inside
information.
