Jadestone Energy PLC - production and development assets in Australia, Malaysia, Indonesia, Thailand and Vietnam - Reiterates that its 2024 production guidance is at the lower end of the previously forecast range of 18,500 to 21,000 barrels of oil equivalent per day. Average daily group production in October was over 22,000 boe/d, reaching in excess of around 24,000 boe/d at ‘various periods’ as the Akatara gas field in Indonesia ‘intermittently’ reached its daily contract quantity rate of around 20 million standard cubic feet per day. The company says operations across the rest of its portfolio have been in line with its expectations, and it expects drilling of the Skua-11 sidetrack in the Montara development in the Timor Sea to begin in the second quarter of 2025, subject to on-time rig delivery.
Current stock price: 24.00 pence, flat in London on Monday morning
12-month change: down 21%
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