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Jadestone Energy on track to meet guidance; Maari acquisition delayed on virus impact
StockMarketWire.com
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Oil and gas production company Jadestone Energy said it remained on track to meet annual production guidance of 11,000-to-12,500 barrels per day.
The company said its Maari acquisition was no longer expected to close before year end as a result of delays caused by COVID-19 and New Zealand's recent general election.
The company anticipated the acquisition to close in H1 2021 with the effective date remaining January 1, 2019.
'Progress continues with the Vietnam development, and Petrovietnam has now proposed gas sales profiles which meet customer needs. These are being assessed to confirm our intended production profiles for the Nam Du and U Minh fields,' it added.
Looking ahead, the company said it expected to be debt-free by the end of Q1 2021.
At 8:37am: (LON:JSE) Jadestone Energy INC share price was 0p at 55p
Story provided by StockMarketWire.com
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