September 21, 2018 - 2:00 AM EDT
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Jadestone Energy Satisfies all Conditions Required to Complete the Montara Acquisition




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

 

[email protected]

 

 

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

[email protected]

Billy Clegg

 

James Crothers

 

 

 

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/4752B_1-2018-9-20.pdf

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.







Source: Jadestone Energy Inc. (TSX Venture:JSE)

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Source: FSCwire (September 21, 2018 - 2:00 AM EDT)

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