RBL Update and Notice of Results
10 April 2024 - Singapore: Jadestone Energy plc (the "Company"), an independent upstream company focused on the Asia-Pacific region, provides the following updates.
Status of Reserves-Based Loan ("RBL") March 2024 Redetermination
The March 2024 redetermination process, which will set the borrowing base for the six-month period commencing 1 April 2024, is at an advanced stage. Primarily due to the proposed changes to the RBL facility borrowing base assets, namely the de-designation of Stag as a borrowing base asset and the inclusion of the recently acquired 16.67% interest in the CWLH fields, the RBL facility banks require additional time to complete the redetermination. The Company expects to announce the results of this redetermination shortly.
Notice of Full-Year 2023 Results
Jadestone will issue its full-year 2023 consolidated audited financial results on Monday 29 April 2024.
-ends-
For further information, please contact:
| Jadestone Energy plc | |
| Paul Blakeley, President and CEO | +65 6324 0359 (Singapore) |
| Bert-Jaap Dijkstra, CFO Phil Corbett, Head of Investor Relations |
+44 (0) 7713 687467 (UK) |
| | |
|
| |
| Stifel Nicolaus Europe Limited (Nomad, Joint Broker) | +44 (0) 20 7710 7600 (UK) |
| Callum Stewart | |
| Jason Grossman | |
| Ashton Clanfield | |
|
| |
| Peel Hunt LLP (Joint Broker) | +44 (0) 20 7418 8900 (UK) |
| Richard Crichton | |
| David McKeown Georgia Langoulant | |
|
| |
| Camarco (Public Relations Advisor) | +44 (0) 203 757 4980 (UK) |
| Billy Clegg | |
| Andrew Turner Elfie Kent | |
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.
This announcement does not contain inside information.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.