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Stag Field Update
Jadestone Energy plc has provided an update on the Stag field following damage from Cyclone Narelle, which caused a temporary shutdown of facilities that were producing approximately 2,000 barrels per day. While storm-related damage to the platform and offloading facilities has been observed, there was no environmental release of hydrocarbons. The company is assessing the damage, developing repair plans, and working with insurers, as it has appropriate insurance coverage for physical damage and loss of production income. Jadestone does not anticipate a material financial impact on its current year or longer-term cashflow projections from this incident. Disclaimer*
About this update from Jadestone Energy Plc
Stag Field Update 30 March 2026 - Singapore: Jadestone Energy plc (AIM:JSE) (the "Company" and together with its subsidiaries, "Jadestone" or the "Group"), an independent upstream production and development company focused on the Asia-Pacific region, provides the following update in relation to the impact of Cyclone Narelle on the Stag field offshore Australia. In line with Jadestone's standard operating procedures, a shut down of the Stag facilities commenced on 23 March and the platform was demobilized due to the projected path of Cyclone Narelle, which developed into a Category 5 Storm with sustained wind speeds well in excess of 200 km/hr. After returning to the facilities on 28 March, storm related damage was observed on the Stag platform and at the offloading facilities. The field's export lines were cleared of hydrocarbons prior to shut-in and there was no release of hydrocarbons to the environment. The Australian offshore upstream regulator, NOPSEMA, was notified. Jadestone is currently assessing the damage to the Stag facilities, while also developing repair plans and a schedule for the resumption of production. The Group has appropriate insurance in place, for both physical damage and loss of production income and is working with insurers through the standard claims process. Based on information currently available, Jadestone does not expect this incident to have a material financial impact on the Group's current year or longer-term cashflow projections. Prior to shutdown, the field was producing approximately 2,000 bbls/d. The Company will provide a further update in due course. -ends- For further information, please contact: Jadestone Energy plc Phil Corbett, Head of Investor Relations +44 (0) 7713 687467 (UK) [email protected] Stifel Nicolaus Europe Limited (Nomad, Joint Broker) +44 (0) 20 7710 7600 (UK) Callum Stewart Jason Grossman Ashton Clanfield Berenberg (Joint Broker) +44 (0) 20 3757 4980 (UK) Ciaran Walsh Dan Gee-Summons Ryan Mahnke Camarco (Public Relations Advisor) +44 (0) 203 757 4980 (UK) Billy Clegg [email protected] Georgia Edmonds Poppy Hawkins  ...
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