Stag Field Update

Stag Field Update

30 March 2026 - Singapore: Jadestone Energy plc (AIM:JSE) (the "Company" and together with its subsidiaries, "Jadestone" or the "Group"), an independent upstream production and development company focused on the Asia-Pacific region, provides the following update in relation to the impact of Cyclone Narelle on the Stag field offshore Australia.

In line with Jadestone's standard operating procedures, a shut down of the Stag facilities commenced on 23 March and the platform was demobilized due to the projected path of Cyclone Narelle, which developed into a Category 5 Storm with sustained wind speeds well in excess of 200 km/hr. After returning to the facilities on 28 March, storm related damage was observed on the Stag platform and at the offloading facilities.

The field's export lines were cleared of hydrocarbons prior to shut-in and there was no release of hydrocarbons to the environment. The Australian offshore upstream regulator, NOPSEMA, was notified.

Jadestone is currently assessing the damage to the Stag facilities, while also developing repair plans and a schedule for the resumption of production. The Group has appropriate insurance in place, for both physical damage and loss of production income and is working with insurers through the standard claims process. Based on information currently available, Jadestone does not expect this incident to have a material financial impact on the Group's current year or longer-term cashflow projections. 

Prior to shutdown, the field was producing approximately 2,000 bbls/d.

The Company will provide a further update in due course.

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About Jadestone Energy

Jadestone Energy plc is an independent upstream company focused on the Asia-Pacific region. It has a balanced and increasingly diversified portfolio of production and development assets in Australia, Malaysia, Indonesia and Vietnam, all stable jurisdictions with a positive upstream investment climate.

The Company is pursuing a strategy to grow and diversify the Company's production base both organically, through developments such as Nam Du/U Minh in Vietnam and the Puteri Cluster offshore Malaysia, as well as through acquisitions that fit within Jadestone's financial framework and play to the Company's strengths in regional upstream development and operations and managing maturing oil assets. Jadestone delivers value in its acquisition strategy by enhancing returns through operating efficiencies, cost reductions and increased production through further investment.

Jadestone is a responsible operator and well positioned for the energy transition through its increasing gas production, by maximising recovery from existing brownfield developments and through its Net Zero pledge on Scope 1 & 2 GHG emissions from operated assets by 2040. This strategy is aligned with the IEA Net Zero by 2050 scenario, which stresses the necessity of continued investment in existing upstream assets to avoid an energy crisis and meet demand for oil and gas through the energy transition.

Jadestone Energy plc (LEI: 21380076GWJ8XDYKVQ37) is listed on the AIM market of the London Stock Exchange (AIM: JSE). The Company is headquartered in Singapore. For further information on the Company please visit www.jadestone-energy.com.

This release does not include inside information.