Business
Maari Acquisition Revised Long Stop Date
Maari Acquisition Revised Long Stop Date.
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1164A\n Jadestone Energy Inc.\n 25 September 2020\n \n \n \n \n \n Jadestone Energy Inc.\n \n \n \n \n Maari Acquisition Revised Long Stop Date \n \n \n \n \n \n \n September 25, 2020-Singapore: \n \n Jadestone Energy Inc. (AIM:JSE) (\"Jadestone\", or the \"Company\"), an independent oil and gas production company focused on the Asia Pacific region, has agreed with OMV New Zealand Limited (\"OMV\") to amend the long stop date for the Company's acquisition of a 69% interest in the Maari Project, shallow water offshore New Zealand (the \"Acquisition\"). \n \n \n \n \n \n The parties have made substantial progress toward satisfying the Acquisition's closing conditions, including obtaining the majority of third party consents. As a precautionary measure in acknowledgement of the remaining closing condition, being final New Zealand Government regulatory approval, and amidst the New Zealand 2020 general election, the Company and OMV have agreed to revise the long stop date from November 15, 2020 to January 31, 2021. Both parties remain fully committed to the transaction and the Company continues to anticipate closing the Acquisition by the end of 2020. \n \n \n \n \n \n Jadestone intends to establish New Zealand as an extension to its Australia core area, and sees the Maari Project as a natural fit with its strategy to acquire and reinvest into mid-life producing assets.\n \n \n \n \n \n - Ends -\n \n \n \n \n \n Enquiries\n \n \n \n \n \n \n Jadestone Energy Inc.\n \n \n \n \n +65 6324 0359 (Singapore)\n \n \n \n \n \n \n Paul Blakeley, President and CEO\n \n \n \n \n +44 7392 940 495 \n (UK)\n \n \n \n \n \n \n Dan Young, CFO\n \n \n \n \n +1 403 975 6752 (Canada)\n \n \n \n \n \n \n Robin Martin, Investor Relations Manager\n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Stifel Nicolaus Europe Limited (Nomad, Joint Broker)\n \n \n \n \n +44 (0) 20 7710 7600 (UK)\n \n \n \n \n \n \n Callum Stewart\n \n \n \n \n \n \n \n \n \n Simon Mensley\n \n \n \n \n \n \n \n \n \n Ashton Clanfield\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n BMO Capital Markets Limited (Joint Broker)\n \n \n \n \n +44 (0) 20 7236 1010 (UK)\n \n \n \n \n \n \n Thomas Rider\n \n \n \n &nb...