Jadestone Energy Satisfies all Conditions Required to Complete the Montara Acquisition
Singapore (FSCwire) - Jadestone Energy Inc. (AIM:JSE, TSXV:JSE) ("Jadestone"), an independent oil and gas production company focused on the Asia Pacific region, is pleased to announce that all conditions precedent to its proposed acquisition of the Montara oil project ("Montara"), offshore Australia are now satisfied.
All conditions precedent to the Sale and Purchase Agreement signed on 15 July 2018 ("SPA") are now satisfied, meaning Jadestone as buyer, and PTT Exploration and Production Public Company Limited ("PTTEP") as seller, can proceed to complete the transaction. In line with the SPA, completion is expected within ten days.
Paul Blakeley, President and CEO commented "We are delighted to achieve satisfaction of all conditions precedent to this transformational deal for Jadestone, and look forward to completing the acquisition as planned."
Upon completion, Jadestone will work jointly with PTTEP under the terms of an Operator and Transitional Services Agreement to begin implementing Jadestone's operating philosophy, focused on production efficiency, cost reduction, and planning for further investment into the asset, including an infill drilling programme starting in 2019.
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Enquiries
| Jadestone Energy Inc. | +65 6342 0359 |
| Paul Blakeley, President and CEO | |
| Dan Young, CFO | |
| Investor Relations Enquiries | +1 403 975 6752 |
| ir@jadestone-energy.com | |
| Nomad and Joint Broker | |
| Stifel Nicolaus Europe Limited: | +44 (0) 20 7710 7600 |
| Callum Stewart | |
| Nicholas Rhodes | |
| Ashton Clanfield | |
| Joint Broker | +44 (0) 20 7236 1010 |
| BMO Capital Markets Limited: | |
| Thomas Rider | |
| Jeremy Low | |
| Thomas Hughes | |
| Public Relations Advisor | |
| Camarco: | + 44 (0) 203 757 4980 |
| Georgia Edmonds | jadestone@camarco.co.uk |
| Billy Clegg | |
| James Crothers |
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Source: Jadestone Energy Inc. (TSX Venture:JSE)
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