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Jadestone Energy PLC on Tuesday said 2025 was a ‘strong’ year for the company, with post-hedging revenue higher despite a fall in the average realised price for oil liftings. The upstream production and development company focused on the Asia-Pacific said post-hedging revenue climbed 3.3% to $408.1 million in 2025 from $395.0 million. Production rose 6.1% to 19,829 barrels of oil equivalent per day in 2025 from 18,696 boe/d in 2024. The average realised price for oil liftings fell 13% in 2025 to $74.42 per barrel from $85.21 per barrel in 2024. Jadestone said the decline in the price mostly reflects the fall in the underlying Brent benchmark. It added that it expects to record a non-cash impairment to some assets in its year-end 2025, citing the reduced oil price outlook. Meanwhile, the average gas price jumped 49% to $5.83 per one thousand cubic feet, from $3.91 in 2024. Capital expenditure increased 51% to $112.7 million in 2025 from $74.5 million in 2024. Chief Executive Officer Thomas Mitch Little said: ‘2025 was a strong year for Jadestone, underscored by a return to delivering on our annual commitments to our shareholders. Despite challenges encountered during the year, our operational and financial results are a testament to the skills and commitment of Jadestone’s dedicated staff, a diversified production base, and our renewed focus on operational excellence and financial discipline.’ He added: ‘In recent months, we have achieved key milestones in the approval of the field development plan for the Nam Du/U Minh discoveries offshore Vietnam. We are increasingly optimistic that we will have further good news to share on this key growth project in the near-term. An infill drilling campaign offshore Malaysia will also commence in coming months, as we seek to follow up on the successful 2023 program on the PM323 licence. We will set out our guidance for 2026 alongside our annual reserves update later this month.’ 2026 guidance and an end-2025 reserves update will be published at the end of February, the firm said. Jadestone shares fell 7.5% to 23.50 pence each on Tuesday afternoon in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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