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Jadestone becomes owner of BP’s stake in Australian oil-producing fields

As stated in the Company’s 2022 preliminary unaudited full-year results announcement on 25 April 2023, the NOPTA approval referenced above is a key condition to drawing the reserves-based loan (“RBL”) which is currently being arranged with several banks. The Company continues to progress the RBL workstreams and a further announcement will be made when appropriate.

Jadestone becomes owner of BP’s stake in Australian oil-producing fields

Moscow, May 19 - Neftegaz.RU. AIM-listed and Singapore-headquartered oil and gas player Jadestone Energy has received approval from Australia’s National Offshore Petroleum Titles Administrator (NOPTA) for the title transfer regarding the acquisition of BP’s stake in a Woodside Energy-operated project, encompassing oil-producing fields offshore Australia.

About Jadestone Energy

Jadestone Energy plc is an independent oil and gas company focused on the Asia-Pacific region. It has a balanced, low risk, full cycle portfolio of development, production and exploration assets in Australia, Malaysia, Indonesia, Thailand and Vietnam.

The Company has a 100% operated working interest in the Stag oilfield and in the Montara project, both offshore Australia. Both the Stag and Montara assets include oil producing fields, with further development and exploration potential.
The Company also has a 16.67% non-operated interest in the North West Shelf Oil Project offshore Western Australia, comprising four oil fields containing significant upside potential through potential infill drilling and life extension activities.

The Company has interests in four oil producing licences offshore Peninsular Malaysia; two operated and two non-operated positions, and a non-operated 9.52% interest in the Sinphuhorm producing gas field onshore Thailand.

Further, the Company has a 100% operated working interest in two gas development blocks in Southwest Vietnam, and an operated 100% interest in the Lemang PSC, onshore Sumatra, Indonesia, which includes the Akatara gas field development, where first production is expected in the first half of 2024.

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