Monday 13 May 2019

Jadestone Energy Inc., an independent oil and gas production company focused on the Asia Pacific region, provided a further update on its infill drilling programme at the Stag oilfield.

Drilling operations on the Stag 49H infill well successfully concluded on May 6, 2019, and the completion has now been run. The Ensco 107 drilling rig has moved off location and is now off-hire.

The well was completed with sand screens and swell packers which take a few days to expand and set. The Company will also conduct hook-up and commissioning activities and then put the well on production. Based on the well data there is no anticipated variance to the pre-drill expectations for this well, which is targeting approximately 1.2mmbbls of 2P oil reserves.