Intention to Admit Shares to the AIM Market of the London Stock Exchange plc Proposed Equity Placing and Senior Debt Financing to fund the Montara Project Acquisition, Offshore Australia
16.07.2018 | FSCwire
Singapore (FSCwire) - Jadestone Energy Inc. (TSXV:“JSE”) (“Jadestone” or the “Company”), an independent oil and gas production, development and exploration company focused on the Asia Pacific region, is pleased to announce a placing of new common shares (the “Common Shares”) to raise gross proceeds of US$95 million (“Placing”) and its intention to apply for an additional listing of its shares on the AIM Market of the London Stock Exchange plc (“AIM”). Jadestone expects Admission to trading on AIM of the existing and new Common Shares to occur in August 2018 (“Admission”).
This follows the Company’s announcement earlier this morning that it has executed a definitive Sale and Purchase Agreement (“SPA”) with certain subsidiaries of PTT Exploration and Production Public Company Limited (“PTTEP”) to acquire a 100% interest in the Montara oil project (the “Montara Oil Project” or the “Montara Assets”) via an asset acquisition (the “Acquisition”) for a total cash consideration of US$195 million (subject to customary working capital adjustments and contingent consideration). The Acquisition will have an effective date of 1 January 2018.
condensate. Jadestone is carried by Total for the remaining exploration commitment well on this block.
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Source: Jadestone Energy Inc. (TSX Venture:JSE)
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