Jadestone Energy PLC shares rose on Thursday as the firm said it is ready to begin production at the Akatara development.

The Asia-Pacific focused upstream oil and gas company owns in its portfolio a 100% interest in the onshore Lemang production sharing contracts in Indonesia.

Jadestone Energy shares were up 7.8% to 32.61 pence each in London on Thursday morning.

This includes the Akatara gas processing facility which, as announced today, reached a key milestone with all components and systems for the site constructed, installed, and tested.

President and Chief Executive Officer Paul Blakeley said: ‘There has been a huge amount of effort and commitment across the business to ensure that the Akatara project remains on schedule...the team are now focused on the remaining commissioning activities ahead of introducing first gas into the facility this month and delivering sales gas volumes.’

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