AIM Rule 17 and Schedule 2(g) Update

Jadestone Energy Inc.
 

Jadestone Energy Announces AIM Rule 17 and Schedule 2(g) Update

April 8, 2020-Singapore: Jadestone Energy Inc. (AIM:JSE, TSXV:JSE) ("Jadestone" or the "Company"), announces  the following updates to disclosure in relation to Lisa Stewart, Non-Executive Director of the Company, pursuant to AIM Rule 17 and Schedule 2(g)(iii) to (viii) of the AIM Rules.

Lisa Stewart served as the general partner of the Sheridan Production Partners Manager LLC, which managed the following entities:

Sheridan Production Partners I-A, L.P., Sheridan Production Partners I-M, L.P., Sheridan Production Partners I-B, L.P., and Lisa Stewart also served as general partner of these entities; and

Sheridan Investment Partners I, LLC, Sheridan Holding Company I, LLC, Sheridan Production Partners I, LLC, SPP I-B GP, LLC, and Lisa Stewart served as President, CEO and Chief Investment Officer of these entities.

These entities filed for Chapter 11 bankruptcy protection on March 23, 2020, after entering into a restructuring support agreement with their secured lenders.  The plan of reorganization (the "Plan") was confirmed on March 24.  Pursuant to the Plan, all of the assets of these entities were transferred to a new entity owned by the secured lenders on March 30.

Lisa Stewart continues to serve as the Executive Chairman of the Investment Committee of Sheridan Production Partners Manager, LLC, but on March 31, 2020, she resigned as President, CEO and Chief Investment Officer.   

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About Jadestone Energy Inc.

Jadestone Energy Inc. 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, Vietnam and the Philippines.

The Company has a 100% operated working interest in the Stag oilfield and the Montara project, both offshore Australia.  Both the Stag and Montara assets include oil producing fields, with further development and exploration potential.  The Company has a 100% operated working interest in two gas development blocks in Southwest Vietnam and is partnered with Total in the Philippines where it holds a 25% working interest in the SC56 exploration block.  In addition, the Company has executed a sale and purchase agreement to acquire an operated 69% interest in the Maari Project, shallow water offshore New Zealand, and anticipates completing the transaction in H2 2020, upon receipt of customary approvals.

Led by an experienced management team with a track record of delivery, who were core to the successful growth of Talisman's business in Asia, the Company is pursuing an acquisition strategy focused on growth and creating value through identifying, acquiring, developing and operating assets throughout the Asia Pacific region.

Jadestone Energy Inc. is listed on the AIM market of the London Stock Exchange.  The Company is headquartered in Singapore.  For further information on Jadestone please visit www.jadestone-energy.com.