Business
Guidance and Reserves Update
Jadestone Energy plc has provided its 2026 guidance and end-2025 reserves update, forecasting 2026 production of 18,000-21,000 boe/d with total production costs of US$260-300 million and capital expenditure of US$50-80 million. The company revised its 2025-2027 unlevered free cash flow guidance to US$200-240 million at US$70/bbl Brent, down from US$270 million previously, due to increased costs and other factors. End-2025 2P reserves stand at 56.2 MMboe, with a 2P NPV10 of US$519 million, a decrease from end-2024 primarily driven by revised oil price assumptions. The company expects to record a non-cash impairment of approximately US$90 million in its year-end 2025 accounts. Disclaimer*
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n\n\n\nGuidance and Reserves Update\n \n26 February 2026 - Singapore: Jadestone Energy plc (AIM:JSE) (the \"Company\" and together with its subsidiaries, \"Jadestone\" or the \"Group\") announces its 2026 guidance and end-2025 reserves update. \n \nT. Mitch Little, Chief Executive Officer of Jadestone, commented:\n \n\"Through successful organic and acquisition led growth, Jadestone has increased its production 73% over the 2022-25 period, representing compound annual growth of 20%. It remains our priority to extend this growth trajectory and progress our strategic objective of being the leading independent Asia-Pacific upstream company. The next major catalyst in our growth story is the upcoming FDP approval for our Vietnam gas development. This will be a meaningful milestone, allowing us to book the project's reserves and expedite discussions with potential partners, as we continue to build momentum behind this material organic growth opportunity creating value for all stakeholders. \n \n2026 will be a year of continued focus on unlocking the value from our existing portfolio, while exercising discipline and prudence in the face of volatile oil prices. Our development activity will be focused on high return, quick payback infill drilling within the PM323 license offshore Malaysia. The firm program is targeting the development of approximately 2 MMbbls of oil, net to Jadestone, with payback within a year. Depending on the results of the first two wells, a contingent third well could also be added to this year's program. Our commitment to this additional development activity strengthens our case for a PM323 license extension, where advanced discussions have been encouraging. This disciplined investment approach will reduce Group capital expenditure in 2026 below previous expectations and will be significantly lower than 2025 spend.\n \nFollowing strong growth in recent years with the development of the Akatara field, Group production is expected to be broadly flat year-on-year as the positive impact of the PM323 campaign offsets natural decline, the 2025 disposal of Sinphuhorm and an increase in planned maintenance activities primarily associated with the CWLH FPSO drydock. During 2025, significant progress was made in reducing routine opex. We will continue to be relentless in m...