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.
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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) |
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| Stifel Nicolaus Europe Limited (Nomad, Joint Broker) | +44 (0) 20 7710 7600 (UK) |
| Callum Stewart | |
| Jason Grossman | |
| Ashton Clanfield | |
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| Peel Hunt LLP (Joint Broker) | +44 (0) 20 7418 8900 (UK) |
| Richard Crichton | |
| David McKeown Georgia Langoulant | |
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| 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.
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.
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