Vietnam
Block 46/07 PSC (Nam Du)
Jadestone Energy has a 100% operated working interest in the Block 46/07 PSC.
The Nam Du discovery is located within the Block 46-07 PSC on the north-eastern margin of the Malay-Tho Chu Basin, approximately 200 kilometres offshore Vietnam in a water depth of 48 metres.
The Nam Du Channel 22 reservoir is a fluvial channel of Lower Miocene age. It is approximately 20 metres thick and has two thin coal intervals. Wireline logs show a coarsening-upwards sequence with the upper 10-15 metres appearing to be cleaner and a higher porosity interval.
Block 51 PSC (U Minh and Tho Chu)
Jadestone Energy has a 100% operated working interest in the Block 51 PSC.
The U Minh and Tho Chu discoveries are located within the boundaries of the Block 51 PSC in the Malay-Tho Chu Basin, approximately 200 kilometres offshore Vietnam in a water depth of 64 metres.
The U Minh H100 reservoir is a moderately sinuous channel-point bar system of Miocene age, trending downdip from northeast to southwest where it is folded over the U Minh four-way dip closure structure. The channel-point bar complex is at least 12 kilometres long and 1.3 kilometres wide. There are also several other reservoir horizons to be tested in the future, with potential over-lapping channel systems.
The Tho Chu reservoirs were deposited in the Lower to Middle Miocene ages. The depositional environment ranges from fluvial to marginal marine. Reservoir sands are typically 1-5 metres and are separated by flooding surfaces that are thought to act as seals. An abundance of coals deposited throughout the Lower to Middle Miocene interval allow for a robust stratigraphic correlation.
At present, no development plan has been submitted for the Tho Chu gas discovery and contingent resources are consequently classified as development unclarified.
Nam Du/U Minh development plan
Jadestone plans to jointly develop the Nam Du and U Minh gas fields, which contain independently estimated gross 2P reserves of c.187 Bscf of gas and c. 1 MMboe of condensate (c.32 MMboe in aggregate). The field development plan (FDP) for the Nam Du and U Minh fields was approved in March 2026. The FDP includes two unmanned wellhead platforms (WHP), one located at each field, with production delivered to a central floating production, storage, and offloading (FPSO) vessel located close to the Nam Du WHP.
Processed gas from Nam Du and U Minh will be exported via a 34km tie-in to the existing 18 inch pipeline owned by Petrovietnam that transports gas from the PM-03-CAA Block to the Ca Mau power and industrial complex in southern Vietnam. Condensate would be exported by shuttle tanker. Vietnam gas imports from the PM-03-CAA Block to the south of Nam Du and U Minh are currently in decline, and with no additional gas resource available, will result in sufficient pipeline ullage that Jadestone intends to utilise.
Development of the Nam Du/U Minh resource would lessen Vietnam’s future dependence on expensive LNG imports and would contribute towards the country’s energy transition and stated goal of Net Zero greenhouse gas emissions by 2050.
