Jadestone Energy plc (JSE) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, good morning, and thank you for joining this call to discuss the new financing arrangements, which we announced late yesterday, UK time. I'm Paul Blakely, Jade Stone's CEO, and I'm joined in Singapore today by our CFO, Birjit Dijkstra, and in London by Phil Corbett, Investor Relations Manager. In this call, we'll run through the presentation, which has been uploaded on our website, at www.jadestone-energy.com. It's on the investor relations section, or you can view it via the link on the webcast. And after that, let's open the call for a Q&A discussion. Slide two outlines our standard disclaimers, and in particular, the cautionary remarks regarding forward-looking statements and non-IFRS measures used in this presentation. And with that, we can get started, reflecting first that the announced financing arrangement may have taken some of you by surprise, but is the result of a series of events which we'll explain and which moved very quickly upon us and for which we needed to take fast and decisive action. On slide three now, I did want to just offer a brief reminder of the objectives of the business and highlight that this equity raise and standby debt facility, following closely on the announced reserves-based lending facility of up to $200 million, which together now establishes a full funding solution for all our currently planned activities going forwards and with the additional buffer of the standby debt. This funding covers the Akitara project in Indonesia, which remains on schedule, the drilling of infill wells in Malaysia due to commence in third quarter, and follows on from stag drilling late last year, three acquisitions recently closed, and with further opportunity emerging from our participating interest in the PNLP licenses in Malay...