9th Jun 2021 14:32
Jadestone Energy PLC - Asia Pacific-focused oil and gas company - Expects to complete the acquisition of a 69% stake in the Maari oil field project in the second half of 2021. The Maari project is a shallow water offshore oil development off the coast of New Zealand. Says discussion with the seller, OMV New Zealand Limited, has continued as Jadestone Energy seeks regulatory approval for the purchase from New Zealand Petroleum & Minerals. Says it will provide an update when the current long stop date of June 30 is extended. A further update giving production guidance for the Maari project is also expected shortly.
Elsewhere, Jadestone Energy expects to complete the purchase of interest in four oil production licences off the coast of Peninsula Malaysia in the second half of 2021. Say it has received approval to do so from Petroliam Nasional Berhad, known as Petronas, an oil and gas company owned by the Malaysian government.
Current stock price: 69.00 pence, down 2.1% on Wednesday
Year-to-date change: up 12%
By Scarlett Butler; [email protected]
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