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JADESTONE ENERGY

OUR HISTORY

2018

January

Hedged 350,000 bbls of crude oil in H1 2018 at US$64.60/bbl, and 350,000 bbls of crude oil H2 2018 at US$65.00/bbl.

Wins APAC New Entrant of the Year award from the Oil & Gas Council.

February

Jadestone and Pertamina appointed to temporarily mange the Ogan Komering working area for up to six months, while finalising a new Gross Split PSC.

May

Gross Split Production Sharing Contract for Ogan Komering awarded to Pertamina.  Jadestone in business-to-business negotiations to define ongoing joint venture participation.

Outline Development Plan approved for Nam Du and U Minh fields in Vietnam.  FEED and gas sales agreement negotiations begin.

July

Executed a definitive Sale and Purchase Agreement to acquire the Montara Oil Project, offshore Australia for cash consideration of US$195 million.

Announced a placing of new common shares to raise gross proceeds of US$95 million, a reserve based lending facility of US$120 million, and intent to apply for listing on AIM.

August

Completed the placing of common shares, upsized to US$110 million and cancelled the convertible debt instrument.

Admission Document published, and trading begins on AIM.

September

Drew US$120 million from a senior secured lending facility.

Completed the Montara project acquisition.

2017

March

Announced withdrawal from the Bone production sharing contract offshore Indonesia.

Closed the acquisition from Repsol of a 50% interest in the Ogan Komering Production Sharing Contract, Sumatra, Indonesia; David Lamb joins Jadestone as Indonesia Country Manager.

June

Announced planned executive leadership change; Paul Blakeley assumes role of CEO, Michael Horn becomes EVP Corporate and Business Development.

July

Completed the NOPSEMA regulatory process, Stag operatorship transferred to Jadestone.

October

Stag milestone average production rate exceeding 3,600 bbl/d.

November

Announced change in fiscal year end to December 31st.

Announced intention to explore addition listing on the London Stock Exchange’s AIM market.

November (continued)

Reported first ever quarterly positive gross profit, positive cash flow from operations.

December

Appointed Dennis McShane as Non-Executive Chairman of the board.

Stag environmental plan accepted by NOPSEMA.

2016

June

Announced changes to the board of directors and senior management; Paul Blakeley appointed as Executive Chairman, Michael Horn appointed Interim CEO; Paul Blakeley, Cedric Fontenit and David Neuhauser join the board.

New leadership team and board of directors reinforces the major shift in strategy, driven by a new leadership team and board of directors. The company’s approach is to establish itself as a leading oil and gas development and production company in the Asia Pacific region.

July

Agreed acquisition of Stag Oilfield.

Closed private placement of 700,000 common shares.

August

Agreed acquisition of 30% working interest in the Blocks 05-1b and 05-1c Production Sharing Contract, offshore Vietnam, subject to a statutory pre-emption right held by Petrovietnam.

October

Announced pricing of private placement at $0.45.

November

Closed acquisition of Stag Oilfield.

Announced closing of C$53million non-brokered private placement.

Announced US$68 million new funding through combination of a non-brokered private placement and a convertible debt facility.

December

Appointed new Chief Financial Officer, Dan Young.

Mitra Energy Inc. changed its name to Jadestone Energy Inc., reinforcing a major shift in strategy.

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