Jadestone Energy — Operational Update

(LSE:JSE) Jadestone Energy reports that Group production has risen to approximately 19,000 boepd, while maintaining unchanged guidance of 16,000 to 18,000 boepd. The CWLH asset has restarted and is currently producing around 8,000 bopd gross, with net production of about 2,700 bopd; however, one well at CWLH requires remediation. Montara achieved an average uptime of approximately 97% and lifted around 300,000 barrels at a realised price of about US$133 per barrel. Akatara's uptime averaged roughly 96%. PenMal has experienced unplanned downtime of about 4% year-to-date. The Stag asset remains offline, with a replacement CALM buoy targeted for installation in Q1 2027 and production expected to resume in Q2 2027. Business interruption insurance is in place to support Stag through May 2027, and there is approximately US$30 million in separate cover for buoy costs. The Group has hedged approximately 0.8 million barrels through March 2027 at a price of US$81.45 per barrel, representing about 47% of forecast production. The hedging includes 100,000 barrels in collars, with floors set at US$80 to US$90 and caps at US$100 to US$112. Group production guidance remains unchanged despite the recent increase in output. The company continues to manage operational uptime across its assets, with Montara and Akatara both reporting high reliability. Stag's return to production is contingent on the installation of the new CALM buoy and is supported by insurance arrangements. The company has taken steps to mitigate price risk through its hedging program. The operational update covers performance, downtime, and risk management across Jadestone's portfolio. The company is actively addressing the remediation needs at CWLH and planning for Stag's future restart. The update provides detailed figures on production, uptime, hedging, and insurance coverage.