Signed a Heads of Agreement with Petrovietnam relating to gas sales from the Nam Du and U Minh gas fields, offshore Southwest Vietnam.
Successfully drilled the Stag 49H infill well, the first well on the field in six years, and placed it on production at an initial rate of 1,400 bopd.
Australia’s upstream regulator NOPSEMA accepted Jadestone’s safety case for the Montara project. Operatorship was formally transferred to Jadestone.
Completed an innovative Riserless Light Well Intervention programme at Montara to restore gas-lift to key subsea wells and access additional reservoir sands.
Installed replacement subsea umbilical cables at the Montara complex.
Announced the adoption of a dividend policy, targeting a 2020 maiden full year dividend in the range of US$7.5 million and US$12.5 million.
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.
Jadestone and Pertamina appointed to temporarily manage the Ogan Komering working area for up to six months, while finalising a new Gross Split PSC.
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.
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.
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.
Drew US$120 million from a senior secured lending facility.
Completed the Montara project acquisition.
A maintenance and inspection shutdown rectified a significant inspection backlog and a number of notices of improvement issued to the operator. Production came back on stream on January 11, 2019.
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.
Announced planned executive leadership change; Paul Blakeley assumes role of CEO, Michael Horn becomes EVP Corporate and Business Development.
Completed the NOPSEMA regulatory process, Stag operatorship transferred to Jadestone.
Stag milestone average production rate exceeding 3,600 bbl/d.
Announced change in fiscal year end to December 31st.
Announced intention to explore addition listing on the London Stock Exchange’s AIM market.
Reported first ever quarterly positive gross profit, positive cash flow from operations.
Appointed Dennis McShane as Non-Executive Chairman of the board.
Stag environmental plan accepted by NOPSEMA.
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.
Agreed acquisition of Stag Oilfield.
Closed private placement of 700,000 common shares.
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.
Announced pricing of private placement at $0.45.
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.
Appointed new Chief Financial Officer, Dan Young.
Mitra Energy Inc. changed its name to Jadestone Energy Inc., reinforcing a major shift in strategy.