Update on Internal Reorganisation

Jadestone Energy
 

Update on Internal Reorganisation

25 March 2021-Singapore: Jadestone Energy Inc. (AIM:JSE) (the "Company" or "Jadestone"), an independent oil and gas production company focused on the Asia Pacific region, is pleased to provide an update on the Company's proposed internal reorganisation (the "Reorganisation") to effect a re-domicile to the United Kingdom, with the effect that a newly incorporated English company Jadestone Energy Plc will become the ultimate holding company of the Jadestone group of companies (the "Jadestone Group").

The Reorganisation will not result in a change in control in the ultimate holding company of the Jadestone Group and, accordingly, will not result in a change in control in the ultimate shareholding in any of the companies or assets of the Jadestone Group.  Further, the Reorganisation will not result in a change in the management of any of the Jadestone Group's companies or assets.

The Company notes the publication by the London Stock Exchange of the AIM Schedule One announcement in connection with the Reorganisation.  This document, along with an appendix, have been uploaded to the Company's website, www.jadestone-energy.com.  Certain immaterial amendments have been made to the Schedule One announcement released by the London Stock Exchange from the draft Schedule One announcement which was posted to shareholders following consultation with the Company's Nominated Adviser.  For the avoidance of doubt, shareholders should refer to the version released by the London Stock Exchange and uploaded to the Company's website.

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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 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 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.