JADSF - Jadestone Energy completes acquisition of 90% interest in Lemang PSC

Jadestone Energy (JADSF) completed its proposed acquisition of an operated 90% interest in the Lemang production sharing contract, onshore Indonesia.The transaction is inclusive of receipt of governmental approval of the assignment of the interest and of Jadestone's appointment as operator, and other consents required under the Lemang PSC joint operating agreement.Under the secondment of Jadestone personnel into the Seller's organisation, leading up to deal completion, the Company has already begun work to instill the Jadestone operating philosophy and efficiency-oriented culture.Further, discussions are underway in respect of future gas sales arrangements, to commercialise the Lemang PSC's 2C resources of 55.2 bscf sales gas, 2.2 mm bbls of condensate, and 5.8 mm boe of liquid petroleum gas, as efficiently as possible.Previously: Jadestone Energy to acquire 90% interest in Lemang PSC (Jun.29).

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Jadestone Energy completes acquisition of 90% interest in Lemang PSC