JSE Jadestone Energy Plc

Directorate Change

3 July 2024 - Singapore: Jadestone Energy plc (the "Company"), an independent upstream company focused on the Asia-Pacific region, announces that Bert-Jaap Dijkstra, Executive Director and Chief Financial Officer, has decided to leave the Company in order to pursue other career opportunities and repatriate back to the Netherlands to rejoin his family. Mr Dijkstra will remain in his post during the publication of the Company's 2024 Half-Year Results and the scheduled September 2024 redetermination of the Company's reserve-based lending ("RBL") facility.

The Company will immediately commence a search for his replacement.

Bert-Jaap Dijkstra, Chief Financial Officer of Jadestone commented:

"The positive outcome from the recent RBL redetermination again demonstrates the confidence that our banks have in the Jadestone management team and business model, helping to support the growth and diversification strategy. It has been a pleasure to work with the entrepreneurial Jadestone team and its external stakeholders, notably the banks, and I would like to thank the team and the Board for a very rewarding experience."

Adel Chaouch, Chairman of Jadestone commented:

"On behalf of the Board of Directors, I would like to thank Bert-Jaap for his efforts at Jadestone and his commitment to ensuring a smooth transition. We wish him well on his return to the Netherlands and in his future endeavours." 

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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, Thailand and Vietnam, all stable jurisdictions with a positive upstream investment climate.

Led by an experienced management team with a track record of delivery, who were core to the successful growth of Talisman Energy's business in Asia-Pacific, the Company is pursuing a strategy to grow and diversify the Company's production base both organically, through developments such as at Akatara in Indonesia and Nam Du/U Minh in Vietnam, as well as through acquisitions that fit within Jadestone's financial framework and play to the Company's strengths in 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.

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.