Successful Flow Testing of the Skua-11ST Well
Initial oil production rates significantly ahead of previous guidance
20 August 2025 - Singapore: Jadestone Energy plc (AIM:JSE) (the "Company" and together with its subsidiaries, "Jadestone" or the "Group") announces an update on the testing of the Skua-11ST development well at the Montara field offshore Australia.
Consistent with previous disclosures, production from the Skua-11ST well commenced in early August 2025. Initial oil production rates from the well exceeded 6,000 bbls/d, significantly ahead of previous guidance of 3,500 bbls/d, with oil production rates subsequently stabilizing at 4,400 bbls/d on a 40% open choke prior to restart of the Montara field's other subsea wells.
Skua-11ST was completed with downhole inflow control devices, which are designed to maximize reservoir sweep and recovery from the well. Skua-11ST, along with the other Montara wells, will be managed in the longer-term to maximise overall recovery from the Montara field.
T. Mitch Little, Chief Executive Officer of Jadestone, commented:
"We are pleased to report the strong initial flows from the Skua-11ST well, which will meaningfully contribute to higher production from Montara, underpinning our revised 2025 production guidance which was upgraded in July. The increase in production will also reduce Montara unit operating costs and extend field life by approximately one year."
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For further information, please contact:
| Jadestone Energy plc |
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| Phil Corbett, Head of Investor Relations |
+44 (0) 7713 687467 (UK) |
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| Stifel Nicolaus Europe Limited (Nomad, Joint Broker) |
+44 (0) 20 7710 7600 (UK) |
| Callum Stewart |
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| Jason Grossman |
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| Ashton Clanfield |
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| Berenberg (Joint Broker) |
+44 (0) 20 3757 4980 (UK) |
| Ciaran Walsh |
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| Dan Gee-Summons |
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| Yasmina Benchekroun |
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| Camarco (Public Relations Advisor) |
+44 (0) 203 757 4980 (UK) |
| Billy Clegg |
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| Georgia Edmonds |
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| Poppy Hawkins |
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About Jadestone Energy
Jadestone Energy plc is an independent upstream company focused on the Asia-Pacific region. It has a balanced and increasingly diversified portfolio of production and development assets in Australia, Malaysia, Indonesia and Vietnam, all stable jurisdictions with a positive upstream investment climate.
The Company is pursuing a strategy to grow and diversify the Company's production base both organically, through developments such as Nam Du/U Minh in Vietnam and the Puteri Cluster offshore Malaysia, as well as through acquisitions that fit within Jadestone's financial framework and play to the Company's strengths in managing maturing oil assets. Jadestone delivers value in its acquisition strategy by enhancing returns through operating efficiencies, cost reductions and increased production through further investment.
Jadestone is a responsible operator and well positioned for the energy transition through its increasing gas production, by maximising recovery from existing brownfield developments and through its Net Zero pledge on Scope 1 & 2 GHG emissions from operated assets by 2040. This strategy is aligned with the IEA Net Zero by 2050 scenario, which stresses the necessity of continued investment in existing upstream assets to avoid an energy crisis and meet demand for oil and gas through the energy transition.
Jadestone Energy plc (LEI: 21380076GWJ8XDYKVQ37) is listed on the AIM market of the London Stock Exchange (AIM: JSE). The Company is headquartered in Singapore. For further information on the Company please visit www.jadestone-energy.com .
This announcement does not contain inside information.
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