Jadestone Energy PLC announces Update on Maari Acquisition

SINGAPORE, SINGAPORE / ACCESSWIRE / September 8, 2021 / Jadestone Energy plc (the "Company"), an independent oil and gas production company focused on the Asia Pacific region, provides an update on the planned completion of the acquisition of the 69% operated interest in the Maari asset, shallow water offshore New Zealand.

Further to the Company's announcement on 31 August 2021, and following discussions with the seller OMV New Zealand Limited ("OMV NZ"), both Jadestone and OMV NZ have agreed to extend the long stop date under the Maari sale and purchase agreement to 31 December 2021.

Both OMV NZ and the Company continue to work to satisfy the remaining outstanding conditions and to complete the transaction. However, and as previously disclosed, there is ongoing uncertainty in the timing of New Zealand Government approval. As a result, further updates on the Maari acquisition will only be made in the event that the transaction completes, or there is a material change in the status of the transaction.

For further information, please contact:

Jadestone Energy plc
Paul Blakeley, President and CEO	[phone] (Singapore)
Dan Young, CFO
Phil Corbett, Investor Relations Manager	[phone] (UK)
	[e-mail]
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