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NEW ZEALAND

JADESTONE ENERGY HAS EXECUTED A SALE AND PURCHASE AGREEMENT TO ACQUIRE AN OPERATED 69% INTEREST IN THE MAARI PROJECT, OFFSHORE NEW ZEALAND

Maari Project

Jadestone has agreed to acquire a 69% operated interest in the Maari Project, which includes the producing Maari and Manaia oil fields, located within PMP 38160, in the offshore Taranaki basin, in a water depth of approximately 100 metres.  As of November 2018, oil production is approximately 4,000 – 4,500 bbls/d.

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