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INDONESIA

JADESTONE ENERGY HAS EXECUTED AN ACQUISITION AGREEMENT TO ACQUIRE AN OPERATED 90% INTEREST IN THE LEMANG PSC AND IS IN DISCUSSIONS TO PARTICIPATE IN THE OGAN KOMERING GROSS SPLIT PSC, ONSHORE SUMATRA, INDONESIA

Lemang PSC

Jadestone has agreed to acquire an operated 90% interest in the Lemang PSC, which includes the undeveloped but fully appraised, Akatara gas field. The asset is located onshore Sumatra, close to major gas transportation infrastructure.

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Ogan Komering PSC

A new gross split PSC for Ogan Komering, effective May 20, 2018, was signed by Pertamina, Indonesia’s upstream regulator SKKMIGAS, and the Minister of Energy and Mineral Resources, awarding a 100% participating interest to Pertamina. Jadestone, as the prior joint operator in the PSC with Pertamina, has been actively engaging with Pertamina for participation in the new PSC.

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