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PHILIPPINES

THE PHILIPPINES HAS ONE OF THE MOST ATTRACTIVE PETROLEUM FISCAL REGIMES IN SOUTHEAST ASIA. JADESTONE ENERGY CURRENTLY HAS INTERESTS IN TWO SERVICE CONTRACTS.

Block SC 56

(Jadestone Energy 25%) is located in the southern Sulu Sea off the northeast coast of Borneo in water depths ranging from 200m to over 3,000m. It lies within the prolific circum-Borneo deepwater trend, covering an area of 6,220 km². It remains one of the most promising untapped deepwater areas remaining in South East Asia. To date, Jadestone Energy has discovered two gas fields on SC 56, namely Dabakan and Palendag. SC 56 is operated by TOTAL.

 

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Block SC 57**

(Jadestone Energy 21%) covers over 7,000 km² of shallow to deep water acreage offshore Palawan Island in water depths ranging from 50m to 3000m. The block is on trend with the giant Camago-Malampaya gas field.

 

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** Pending Philippines Government approval of the Jadestone Energy farm-in agreement.