Jadestone Energy PLC Announces Peninsular Malaysia Assets Acquisition Complete

SINGAPORE, SINGAPORE / ACCESSWIRE / August 2, 2021 / Jadestone Energy plc ('Jadestone', the 'Company' or together with subsidiaries, the 'Group'), an independent oil and gas production company focused on the Asia Pacific region, is pleased to announce that, further to our press release dated 16 July 2021, the Company has completed its acquisition of the Peninsular Malaysia assets of SapuraOMV Upstream Sdn Bhd (the 'Assets'). Inclusive of agreed adjustments, the Company's net consideration comprised a net cash receipt of approximately US$9.2 million.

The Assets add immediate cash flow from around 6,000 barrels of oil equivalent per day of low operating cost production, on a net working interest basis, of which over 90% is oil. Adding the Assets to the Jadestone portfolio will increase the Group's 2P reserves by 34%, adding 12.5 million barrels oil equivalent of net working interest 2P reserves, based on Jadestone's best estimate 2P reserves production profile.

For further information, please contact:

Jadestone Energy plc	[phone] (Singapore)
Paul Blakeley, President and CEO	[phone] (UK)
Dan Young, CFO	[e-mail]
Robin Martin, Investor Relations Manager
Stifel Nicolaus Europe Limited (Nomad, Joint Broker)	[phone] (UK)
Callum Stewart
Jason Grossman
Ashton Clanfield
Jefferies International Limited (Joint Broker)	[phone] (UK)
Tony White
Will Soutar
Camarco (Public Relations Advisor)	[phone] (UK)
Billy Clegg	[e-mail]
James Crothers

About Jadestone Energy