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INDONESIA

Ogan Komering PSC

Jadestone, as the prior partner in the PSC with Pertamina, has been directed to proceed with direct negotiations for participation in the new Ogan Komering Gross Split PSC with Pertamina.

 

The 1,155 km2 Ogan Komering PSC is located onshore South Sumatra, Indonesia. This area benefits from extensive infrastructure and growing local energy demands and is one in which Jadestone’s Management has significant operating experience, technical knowledge and strong relationships with local government bodies.

Jadestone will seek an independent reserves evaluation for the Ogan Komering PSC upon, and subject to, confirmation of the Company’s participation in the new PSC.

Jadestone’s net 50% working interest share of production from the Ogan Komering PSC, held up until May 20, 2018, averaged approximately 1,500 boe/d and is weighted approximately 66% oil and 33% gas.

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