Jadestone Energy Appoints New Non-Executive Chairman
Dennis McShane joins the board to provide a key lead role, increase independent governance and help foster engagement with the investment community
Singapore, December 11, 2017: Jadestone Energy Inc. (TSXV: “JSE”) (the “Company”) is pleased to announce the appointment of Dennis McShane as its Non-Executive Chairman of the board, effective December 10, 2017.
Mr. McShane has nearly four decades of senior management and board experience, including corporate finance, strategic, and leadership roles in the banking and upstream sectors.
“We’re delighted to welcome Dennis to the board. I believe we will benefit enormously from both his experience as well as a great combination of diplomacy and commercial acumen,” said Chief Executive Officer, Paul Blakeley. “As we continue to execute the Jadestone strategy, we have recognised the need to expand the board to align with the technical and commercial opportunities ahead, as well as provide me with more time to focus on delivery of our objectives. Dennis has a history of providing level-headed decision-making and building excellent relationships with external stakeholders, and will help reinforce the critical bridge to the investor community.”
Mr. McShane is a Non-Executive Director of the Advertising Checking Bureau, Inc in the United States. Previously he held directorship roles with Midas Resources AG in Switzerland, Ophir Energy plc in the UK, and Ferrexpo plc in the UK. Prior to that he was a Managing Director with J.P. Morgan Chase in Australia and the UK, and with Chemical Bank/MHT in the United States and South Africa. He graduated from the State University of New York at New Paltz, BA Magna Cum Laude, Russian Studies and attended Harvard Business School, PMD.
Mr. McShane commented “I am delighted to be part of the Jadestone team. I see tremendous opportunity for the company both through delivering value from its existing asset portfolio and through the rich set of organic and inorganic opportunities in the Asia Pacific region.”
Paul Blakeley will continue in his role as President and Chief Executive Officer and will remain on the board as an Executive Director.
The Company last month announced its results for the six months ending September 30, 2017, including positive gross profit for the September quarter, positive cash flow generated from operations, and positive EBITDAX, a first for the Company.
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About Jadestone Energy Inc.
Jadestone Energy Inc. is a TSX-V listed oil and gas company headquartered in Singapore. The Company is currently engaged in production, development and exploration and appraisal activities in Australia, Indonesia, Vietnam and the Philippines. Following a recent strategic review, the Company is focusing on acquiring assets with production in the near term, and where significant follow-on reinvestment opportunities exist to enhance value, as well as undeveloped discoveries which may be rapidly brought to production.
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