Exercise of Share Options and Admission of Shares

Jadestone Energy Inc.
 

Exercise of Share Options and Admission of New Common Shares

February 5, 2021-Singapore: Jadestone Energy Inc. (AIM:JSE) ("Jadestone", or the "Company"), an independent oil and gas production company focused on the Asia Pacific region, announces that it has issued 958,333 new common shares of no par value in the Company (the "New Common Shares") pursuant to the exercise of options by existing and former employees under its Stock Option Plan between January 22, 2019 and January 14, 2021.

Application has been made for the 958,333 New Common Shares to be admitted to trading on AIM ("Admission").  It is expected that Admission will occur at 8.00 a.m. on February 10, 2021.

The total number of common shares in issue following Admission will be 461,967,811, each of which carries the right to one vote.  There are no shares held in treasury.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

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About Jadestone Energy

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, Indonesia and Vietnam.

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 also has a 100% operated working interest in two gas development blocks in Southwest Vietnam, and an operated 90% interest in the Lemang PSC, onshore Sumatra, Indonesia, which includes the Akatara gas field.

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 H1 2021, 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 in 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.

This announcement does not contain inside information.